Maple GOLD Reports Phase I Drill Results at Eagle, Including 6.4 G/T GOLD over 3.0 Meters Within 4.0 G/T over 7.5 Metres
PRESS RELEASE
June 20, 2022
MAPLE GOLD REPORTS PHASE I DRILL RESULTS AT EAGLE, INCLUDING 6.4
G/T GOLD OVER 3.0 METERS WITHIN 4.0 G/T OVER 7.5 METRES
Vancouver, BC – (Newsfile Corp. – June 20, 2022) - Maple Gold Mines Ltd. (TSX-V: MGM)
(OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report assay
results from the Company’s Phase I drill program at its 100%-controlled Eagle Mine Property
("Eagle") in Quebec, Canada. The Phase I program consisted of eight (8) diamond drill holes
totaling 4,462 metres ("m") that begin to test potential extensions of mineralization along the
past-producing Eagle-Telbel Mine Trend . Importantly, drilling has identified at least four (4)
additional styles of gold mineralization beyond the known Eagle-Telbel style mined historically,
providing further indications for multiple gold events that may provide for broader gold
distribution than previously interpreted.
Highlights:
• Drill hole EM-22-005 intersected 4.0 grams per tonne gold ("g/t Au") over 7.5 m,
including 6.4 g/t Au over 3.0 m, within a semi-massive pyrite and iron carbonate horizon
typical of historical Eagle-Telbel style of mineralization (see Plates 1 and 2).
• Drill hole EM-22-001 intersected 4.4 g/t Au over 0.9 m within quartz-carbonate veinlets
containing visible gold (VG).
• Drill hole EM-22-002 intersected 2.4 g/t Au over 4.7 m , including 3.8 g/t Au over 2.1
m, within highly altered, graphitic and pyritic Harricana Group sediments, as well as 2.1
g/t Au over 1.8 m further up hole in altered microgabbro.
Fred Speidel, VP Exploration of Maple Gold, stated: “We are pleased with the results to date
from our initial Eagle drill campaign. The data collected during Phase I is already guiding our
Phase II drilling, which tests the Eagle-Telbel Mine Trend at greater depths, and we expect to
reach our target of twelve (12) drill holes totaling roughly 8,200 m by the end of this quarter. In
addition, we have just completed Winter 2022 drilling at Douay with assay results anticipated
in the coming weeks, and initial partnership drilling at Telbel is expected to commence in Q3
2022 as part of a recently approved C$4.8 million supplemental budget for deep drilling at
Douay and Joutel. This year should prove be the Company’s busiest one yet for exploration
drilling, reflecting our aim of making new discoveries and achieving significant resource gains
across our Quebec project portfolio.”
Interpretation and Summary of Results
Nearly all of the Phase I drill holes contained at least one interval with greater than 1 g/t Au
(see Table 1 for complete assay results). In addition to the historically mined Eagle-Telbel style
semi-massive pyrite with iron carbonate veinlets in mixed felsic volcanics and sediments ,
Phase I drill core displayed multiple additional distinct styles of gold mineralization, including:
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1. Quartz-carbonate-visible gold veinlets in footwall felsic volcanics and pyroclastics
2. Iron carbonate-pyrite altered microgabbro
3. Silica-pyrite altered feldspar porphyry
4. Pyrite-rich, graphitic, hanging wall sediments
The first three holes, EM-22-001 to EM-22-003, tested shallow targets northwest of the Eagle-
Telbel Mine Trend that are primarily associated with micro -gabbro hosted mineralization, as
well as sulfide-rich graphitic sediments found at the top of the Harricana Group sediments. The
next two holes, EM-22-004 and EM -22-005, tested moderate depth targets characterized by
abundant to semi -massive sulfide and Fe -carbonate veinlets in different proportion s (see
Plates 1 and 2). The last three holes, EM-22-006 to EM -22-008, tested the same pyrite and
iron c arbonate zones at slightly greater depth; in addition to this target, the holes also
intercepted gold mineralization in microgabbro and feldspar porphyry.
Plate 1: Eagle-Telbel style semi-massive pyrite with irregular and broken up iron carbonate veinlets
from 346.5 m in EM-22-005, part of 1 m sample grading 1.2 g/t Au.
Plate 2: Eagle-Telbel style semi-massive pyrite with fewer iron carbonate veinlets from 352.3 m in
EM-22-005, part of a 1 m sample grading 7.6 g/t Au.
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The location of the Company’s Phase I (completed) and Phase II (in -progress) drill holes is
shown in Figure 1 below . A section view depicting the location of the EM -22-005 intercept
relative to historical drilling (particularly EM -14-001, which returned 12.4 m of 2.9 g/t Au,
including 4.8 m of 5.3 g/t Au) and the current 3D model at Eagle is shown in Figure 2 below.
Figure 1: Location of Phase I (completed) and Phase II (in-progress) drill holes at Eagle
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Figure 2: NW-looking section (160 m total width) highlighting location of EM-22-005 and EM-14-001
intercepts with Eagle-Telbel style mineralization and two (2) additional subparallel gold trends based
on lithologic classification and historical assay results.
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Complete Phase I drill program results at Eagle are included in Table 1 below.
Hole UTME UTMN Azimuth Plunge Length (m) From To Interval Au (g/t)
EM-22-001 690565 5486334 40.6 -66.8 356.6 132.0 134.6 2.6 1.7
including 133.7 134.6 0.9 4.4
EM-22-002 690565 5486334 22.0 -52.4 243 109.4 110.0 0.7 2.2
EM-22-002 183.2 185.0 1.8 2.1
EM-22-002 200.4 205.0 4.7 2.4
including 200.4 202.4 2.1 3.8
EM-22-003 690642 5486322 59.1 -70.5 288 146.0 151.0 5.0 0.4
EM-22-003 190.0 195.2 5.2 0.5
including 190.0 192.0 2.0 0.8
EM-22-004 690673 5486120 49.9 -56.0 288 138.0 142.5 4.4 1.0
including 139.0 141.0 2.0 1.2
including 149.4 150.0 0.7 1.1
EM-22-005 690758 5486043 22.6 -75.7 714 346.0 353.5 7.5 4.0
including 350.0 353.0 3.0 6.4
EM-22-005 364.0 365.0 1.0 1.5
EM-22-005 625.0 626.0 1.0 1.5
EM-22-006 690737 5485828 25.9 -63.2 777.7 539.3 545.6 6.3 1.0
EM-22-006 539.3 543.0 3.7 1.3
including 669.0 670.0 1.0 1.2
EM-22-007 690736 5485826 23.9 -73.2 985 742.0 747.6 5.6 0.8
EM-22-007 862.7 879.0 16.3 0.3
including 877.0 878.0 1.0 2.0
EM-22-008 690737 5485828 41.9 -66.6 810 593.0 596.5 3.5 0.8
EM-22-008 600.8 602.8 2.0 0.8
Table 1: Summary of key intercepts from the Phase I Eagle drill program. All intervals are downhole
core lengths. True widths are ~40-60% of downhole lengths.
Equity Incentive Plan Grant
Pursuant to its Equity Incentive Plan (the "Plan") dated December 17, 2020 and the policies of
the TSX Venture Exchange, the Company has granted stock options ("Options") to an
employee, officer and director of the Company. The new Options grant is a replacement award
for Options that recently expired without being exercised.
Options to purchase an aggregate of 3,000,000 common shares of the Company (each, a
"Common Share") were granted, with an exercise price of $ 0.23 per Common Share. Each
Option grant vests one-third on the date of the grant, one-third 12 months from the date of the
grant and one -third 24 months from the date of the grant. Once vested, each Option is
exercisable into one Common Share for a period of five years from the date of the grant.
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Further details regarding the Plan are set out in the Manage ment Information Circular of the
Company filed on May 16, 2022, which is available on SEDAR.
Qualified Person
The scientific and technical data contained in this press release was reviewed and prepared
under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple
Gold. Mr. Speidel is a Qualified Person under National Instrument 43 -101 Standards of
Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration
information disclosed in this press release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
The Company implements strict Quality Assurance ("QA") and Quality Control ("QC") protocols
at Eagle covering the planning and placing of drill holes in the field; drilling and retrieving the
NQ-sized drill core; drillhole surveying; core transport; core logging by qualified personnel;
sampling and bagging of core for analysis; transport of core from site to the Val d’Or, Quebec
AGAT laboratory; sample preparation for assaying; and analysis, recording and final statistical
vetting of results. For a complete description of protocols, please visit the Company's QA/QC
webpage at www.maplegoldmines.com.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50 /50 joint venture
with Agnico Eagle Mines Limited to jointly advance the district -scale Douay and Joutel gold
projects located in Quebec’s prolific Abitibi Greenstone Gold Belt. The project s benefit from
exceptional infrastructure access and boast ~400 km 2 of highly prospective ground including
an established gold resource at Douay (SLR 2022) that holds significant expansion potential
as well as the past -producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the
Company holds an exclusive option to acquire 100% of the Eagle Mine Property.
The district-scale property package also hosts a significant number of regional exploration
targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be
tested through drilling, making the project ripe for new gold and polymetallic discoveries. The
Company is well capitalized and is currently focused on carrying out exploration and drill
programs to grow resources and make new dis coveries to establish an exciting new gold
district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
"Matthew Hornor"
B. Matthew Hornor, President & CEO
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For Further Information Please Contact:
Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: [email protected]
Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward Looking Statements:
This press release contains "forward-looking information" and "forward-looking stateme nts" (collectively referred to as
"forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada, including statements
about exploration work and results from current and future work programs . Forward-looking statements are based on
assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially
from the Company's expectations and projections. Investors are cautioned that forward -looking statements involve risks and
uncertainties. Accordingly, readers should not place undue reliance on forward -looking statements. For a more detailed
discussion of such risks and other factors that could cause actual results to differ materially from thos e expressed or implied
by such forward-looking statements, refer to Maple Gold Mines Ltd. 's filings with Canadian securities regulators available on
www.sedar.com or the Company 's website at www.maplegoldmines.com. The Company does not in tend, and expressly
disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.