Maple Gold defines new Nika Gold Zone with initial drill results from gap area between Porphyry, Douay West and NW zones
April 23, 2018 – Montreal (Quebec): Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G - https://www.youtube.com/watch?v=cAVYQyJyw7k) is pleased to provide an update on the ongoing winter drilling campaign. The program has ramped up with eight (8) diamond core drill rigs now actively testing all target areas (Resource Area, NE Syenite and NW Syenite targets). One of the Company’s high-priority targets is the area between the Porphyry, Douay West and NW zones, now referred to as the “Nika Zone”, which has a lower drill-hole density and strong potential for new discoveries and extensions of existing resource zones. The Company has received results from four (4) drill-holes in this area, with highlights below:
- DO-18-217: 104m of 0.44 g/t Au from 284m, including 17m of 1.08 g/t Au from 309m (additional assays pending);
- DO-18-218: 13.2m of 0.86 g/t Au from 409.8m, collared 133m SE of DO-18-217 (additional assays pending)
Furthermore, historic hole DO-12-105 (2012) wascollared265m WSW of DO-18-218and bottomed in mineralization at 467.6m (estimated vertical depth of 320m), returning 21.1 g/t Au and remaining open. The DO-18-217, DO-18-218 and DO-12-105 intercepts may form part of the same two mineralized zones (see Figure 1 below).
Maple Gold’s VP, Exploration, Fred Speidel, stated:“One of our objectives with the current drilling campaign is to take steps toward connecting the existing resource zones and extending known mineralization beyond the current limits of the block model that was used in the 2018 Micon estimate. The initial results in this “Gap” area are indicative of the discovery of a new gold zone there, and one we believe has strong potential to make a positive impact on future resource estimations at Douay. We look forward to results from the additional 5 drill-holes with assays still pending from this priority target area, and we are confident that similar new zones will be defined elsewhere within the resource area.”
Figure 1: Initial drill highlights from the Nika Zone (gap area between NW, DW and POR zones)
In addition to the assays still pending from drill-holes DO-18-217 and DO-18-218, Maple Gold has completed a further 5 drill-holes in this area for which assays are pending, and that have the potential to continue expanding the Nika Zone.
Table 1: Drill highlights from Nika Zone at Douay
*All lengths above are core lengths and not true widths. True widths are estimated to be approximately 90% of core lengths. Uncut assay values used for intervals given. Coordinates are NAD83 Zone 17N.
A total of 47 drill-holes have now been completed or are ongoing property-wide, of an originally planned total of approximately 65 holes. The Company has only received assay results for ten (10) complete drill-holes to-date and will continue to provide updates as sufficient assay results are received for each target area. More than 8,600 samples have now been submitted to ALS Laboratories, and with drilling expected to continue into early May, the Company anticipates drill results throughout April, May and June 2018.
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 a well-funded gold exploration company focused on advancing a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 370 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold has a significant drill campaign under way to expand on the known Resource Areas and test new discovery targets within the Company’s 55 km of strike along the Casa Berardi Deformation Zone. 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
Office: +1 416.306.8124
Email: [email protected]
Swiss Resource Capital AG
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 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 Nika 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.