Maple Gold Completes 2018 Mapping and Sampling Program and Identifies new Target Areas
November 14, 2018 – Montreal (Quebec): Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G - https://www.commodity-tv.net/c/search_adv/?v=298248) has completed its first pass summer 2018 field mapping in the central part of the Douay Project (the “Project”). Very limited historical work has been completed previously in this portion of the Project. The objective of the mapping program was to identify alkaline intrusive-related gold (similar to the Douay deposit), orogenic gold (similar to the Casa Berardi mine) and/or volcanogenic massive sulfide “VMS” (similar to the past producing Estrades mine) target areas for follow-up. The Casa Berardi mine (3.4Moz Au past production plus reserves) and Estrades deposit (about 0.34Moz Au, 12Moz Ag, and 0.23Mtonnes Zn past production plus current resources) occur along the same Casa Berardi Deformation Zone about 41 and 12 kilometres west, respectively, of Maple Gold’s property.
The mapped area is mainly underlain by mafic volcanic and related intrusive rocks of the Cartwright Group, with minor intermediate to felsic volcanic and graphitic sedimentary and chert intervals marking breaks in mafic volcanic activity. VMS deposits can be formed during these breaks, and the breaks may also mark potentially favorable structural elements for orogenic gold deposit formation. Such felsic volcanic horizons host the Estrades VMS deposit.
All samples from the Company’s 2018 mapping program were assayed by ALS Labs for Au + 48 elements using the Fire-Assay/ICP-AES method for gold and 4-acid ICP-MS method for the multi-element package. This process allows for near-total extraction of most of these elements, and therefore assay results not only provide geographic distribution of trace metal anomalies, but also help discriminate between the different rock-types and alteration styles present on the Project. Results from the sampling program included modest gold anomalies (up to 96 ppb) as well as anomalies in pathfinder elements such as Ce, K, La, Na, P, and Sr that are characteristic of the Douay intrusive-related alkaline system.
The potential for VMS mineralisation is indicated by multiple assays with anomalous Zn (up to 1080 ppm), Cu (up to 594 ppm)S (up to 2.5%), Mn (up to 1.2%) and variable Na, i.e. both enriched and depleted. The strongest metal anomaly (1080 ppm Zn) was obtained from an interflow graphitic sedimentary/chert horizon located 2.8km SW of the Douay West gold zone, that was detected and traced for an EW direction over about 4.2km by the Company’s 2016 airborne electromagnetic survey (“EM2016”).
These numerous geochemical anomalies can be grouped into six main target areas for geophysical and geological follow-up (see Fig. 1). These are:
- Area 1: Overburden drilling gold-in-till (10-35 gold grains) and bedrock geochemistry anomalies
- Area 2: Harricana target with mixed VMS/alkaline intrusive geochemical response
- Area 3: Geochemical anomalies with historical INPUT responses and known Cu, Zn showings
- Area 4: Central Cu-Zn anomaly also with alkaline intrusive pathfinders
- Area 5: NW extension EM2016 conductors with alkaline intrusive pathfinders
- Area 6: Mineralized graphitic interflow sediments/cherts associated with EM2016 conductors
Fred Speidel, Maple Gold’s VP Exploration, commented:“The greenfield top-of-bedrock drilling and now mapping and sampling work we have completed in 2018 has generated numerous target areas that we plan to follow up on with geophysics this winter and additional mapping next summer in order to prioritize the next set of new greenfield drill targets.
Figure 1: General Geology of Douay Project, showing distribution of exploration targets including those defined in winter 2018 top-of-bedrock drilling (Area 1), and numerous geochemical anomalies from 2018 mapping and sampling (Areas 2-6). For illustrative purposes, Cu+Zn anomalies are shown here as areas with samples over 100ppm Cu and/or 100ppm Zn. Note eastern extension of known VMS horizons (Estrades and Newiska, a similar deposit) as red lines extending into Areas 1 and 2, interpreted from magnetic data, with the northernmost being Estrades.
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 news release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
Maple Gold implements strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drill-hole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the analytical 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 page on the website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 377 km² Douay Gold Project is located along the Casa Berardi Deformation Zone (55 km of strike) within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project benefits from excellent infrastructure and has an established gold resource that remains open in multiple directions. For more information, please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Email: [email protected]
Swiss Resource Capital AG
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Forward Looking Statements:
This news release contains “forward-looking information" and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about the prospective mineral potential of the Porphyry Zone, the potential for significant mineralization from other drilling in the referenced drill program and the completion of the drill program. 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. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those 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 intend, 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.
Source: RPA November 2018 43-101 Report
(Micon 2018) 479,000 ounces at 1.59 g/t Au (Indicated category) and 2,759,000 ounces at 1.02 g/t Au (Inferred category), using a 0.45 g/t Au cut-off grade. Please visit www.maplegoldmines.com or the Company’s SEDAR filings for a copy of the Micon 2018 report.