Maple Gold extends Nika Zone mineralization to the east and recaps 2018 success in the NW Gap Area
July 26, 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=298462) is pleased to report the final drill results from the NW Gap Area, i.e. the area between the NW, Douay West and Porphyry Zones, which includes the new Nika Zones.
here were a select number of historical drill-holes drilled in the NW Gap Area from 2011 to 2017 inclusive by Aurvista Gold (now Maple Gold Mines), but due to the limited drill density this area represented a high-priority target for new discoveries and potential extensions of existing zones outside the currently established conceptual pits (Micon 2018). Within this area (see Figure 1) a total of twelve (12) holes were drilled in 2018, with the majority spaced from 100 up to 300 metres from the nearest pre-existing drill collar.
Assay results have been received for the final drill hole (DO-18-241) from the Nika Zones, which tested the eastern limit of the recently defined mineralization in the heart of the NW Gap Area. This drill-hole confirmed the eastern continuity of gold mineralization from DO-18-218 (50m of 1.77 g/t Au – see press release May 14, 2018), and cut eight narrow mineralized zones averaging greater than 1 g/t Au. The mineralized zones start from a downhole depth of 148m (estimated vertical depth of 130m), including 12m of 1.78 g/t Au uncapped (two adjacent zones combined), 3.6m of 1.12 g/t Au and 1.0m of 6.72 g/t Au, see Table 1 and Figure 2A. The above-mentioned intercepts in DO-18-241 included four new higher grade (>2 g/t Au) samples forming part of the Nika cluster (see Figure 1), all of which are outside existing conceptual pits and wireframes and therefore represent potential additions to the existing resource base.
Maple Gold’s President and CEO, Matthew Hornor, stated:“When we started designing our 2018 drill program we encouraged our technical group to take some chances with greenfield drilling and aggressive step-out drilling beyond known zones in the general resource area. Following this approach has resulted in the definition of new zones in the NW Gap Area and gives us confidence that the potential for additional new discoveries at Douay remains excellent. Greenfield drilling results are expected in the coming weeks.”
Maple Gold’s Vice President Exploration, Fred Speidel, stated:“Assays for the NW Gap Area, including the promising new Nika Zones, are now complete. These additional results demonstrate that gold mineralization in the Nika Zones, part of which is well above deposit average grade, widens significantly towards the west and locally remains open up-dip and down-dip.”
Fig. 1: Drill plan for NW Gap Area, showing previously reported and new mineralized zones. Note broadening of mineralization westwards from DO-18-241, which may be a result of increased structural permeability provided by the intersection of EW and NW-striking structures in this area. Threshold (2g/t Au) for higher-grade samples for presentation purposes only.
Fig. 2 (A, B): A, left, Section 705300E with DO-18-241, showing distribution of syenite (pink) and basalt (green) with reported intercepts. B, right, for comparison, section 705200E (previously reported in press release May 14th, 2018), located 100m to the west, with greater amount of syenite and broader gold intercepts. On this section, individual gold grades shown as black bars along the left side of the hole trace, have been capped at 6 g/t Au for presentation purposes. The main intercepts on this section are open up-dip and down-dip.
To view additional figures and drill-core photographs from 2018 drilling please visit www.maplegoldmines.com.
Table 1: 2018 Drill Results Summary from NW Gap Area (including Nika Zones)
(Drill-holes shaded grey correspond to the two 2018 holes shown on cross sections)
Intervals are all down-the hole lengths, which are estimated to be approximately 90% of true width. Coordinates are NAD83 Zone 17N. All assays were performed by ALS Laboratories by AU-ICP21, i.e. 30 g fire assay with ICP finish with any over limits (>10 g/t Au) redone by AU-GRA21, i.e. gravimetric analysis of 30g sample weight. Nominal cut-off to obtain intercepts is 0.25 g/t Au, but depending on grade distribution effective cut-offs can be somewhat higher or lower. All intercepts are uncapped, those identified with (*) include samples with overlimits (>10 g/t Au); which may be subject to grade capping during future resource estimation.
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 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 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 recently completed a significant winter drill campaign 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
Email: [email protected]
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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.
(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.