Maple Gold Provides Exploration Update Prior to Winter Drilling Campaign
November 29, 2017 – Montreal (Quebec): Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G - https://www.youtube.com/watch?v=upnkyLi5VdU&t=1s) is pleased to provide an update on ongoing exploration work at the 370 km² Douay Gold Project, located in Québec, Canada. Maple Gold’s Douay Project hosts an inferred mineral resource estimate of 2.8M ounces of gold at 1.05 g/t using a 0.5 g/t cut-off grade (Micon 2017). The majority of these gold resources are found within a syenite-associated gold system. This system forms part of a ~7 km trend of mineralized zones that is found within the central part of the Project’s 55 km of strike length along the regionally productive Casa Berardi Deformation Zone. This intrusive-associated style of mineralization is also present at several recently discovered and/or developed Abitibi deposits, including Malartic, Young-Davidson, and Windfall.
The Company’s exploration team believes there is excellent potential to make new discoveries in the relatively unexplored parts of the project, and equally promising potential to expand existing zones within the known resource area. The team has re-logged more than 5,000 metres of selected drill core and completed preliminary interpretation of XRF geochemical data from >46,000 core samples, resulting in significant breakthroughs:
- Recognition that the syenitic intrusive rocks present within the current ~7 km long resource area extend for an additional 3 km in strike
- Definition of a high-priority 6 km by 1 km exploration target (“NE Syenite Target”), virtually untested by previous diamond drilling
Expanded Douay Resource Target Area
New geochemical data on >46,000 core samples indicate that syenitic intrusive rocks, the main host to Douay’s intrusive-associated gold mineralization, extend well beyond the previously interpreted limits of this rock type. The area containing favourable syenitic rocks is now interpreted to extend for a length of nearly 10 km.
This expanded target area coincides with the distribution of >1 g/t Au drill core samples as well as with a distinctive magnetic pattern caused by the intrusion of largely non-magnetic syenite into basalt, and in part by alteration of that basalt’s mafic minerals to a biotite-magnetite assemblage. Sulfidation of these secondary mafic minerals is considered an important mechanism for the precipitation of gold. Step-out and infill drill collars to test this expanded target will be finalized within the next month.
Within the Douay Resource Area, drill intersections with significant grade and width of gold mineralization cluster into five distinct sub-areas (see Figure 1). These “clusters” are the focus of re-logging and will form targets for step-out drilling in 2018.
High-priority 6 km x 1 km NE Syenite Exploration Target
Evaluation of geophysical and drilling data has defined a virtually untested 6 km by 1 km target area (“NE Syenite Target”) prospective for syenite-associated gold mineralization. The target lies approximately 2.6 km northeast of the Porphyry Zone (see Figure 1) and is defined by a similar paired high/low magnetic response, by eight top-of-bedrock RC holes that intersected syenite or felsic intrusive rock, and by a single historical diamond drill-hole that intersected ~150 m of syenite and foliated mafic tuff. Maple Gold plans to drill a minimum of 11 core holes into the promising NE Syenite Target during Q1 2018 (see Figure 2 for proposed drill collars in the NE Syenite Target Area).
Maple Gold’s President and CEO, Matthew Hornor, stated: “Our exploration team is making impressive progress and generating exciting drill targets that have the potential to add ounces and realize the exploration upside that exists at Douay. In addition to the drilling program this winter, we will continue to generate a significant number of new drill targets for subsequent campaigns. There is no shortage of high-quality targets with 55 km of strike along the Casa Berardi Fault Zone and an existing resource open along strike and down plunge.”
Re-logging Observations & Key Findings
Selective re-logging of over 5,000m of core from selected drill sections has been completed to date, with the following key observations and findings:
- There are at least four textural varieties of syenite, ranging from fine-grained aplitic to coarsely porphyritic. Defining the relationship between these different syenites and gold mineralization will aid targeting and is the focus of continuing studies.
- Although there is a broad association of pyrite mineralization and gold tenor, there are at least three generations of pyrite, not all of which appear to correlate with gold. More detailed analytical and petrographic work is planned to understand the deportment of gold within the pyrite generations.
- Deformation and gold mineralization often are localized on the margins of syenite bodies, where major shear zones/faults define tectonic contacts with the volcanic and sedimentary wallrocks. Brecciation zones, in places with associated silicification, extend up to several tens of metres away from either side of the shear zones/faults. Defining and correlating these zones of high structural permeability is expected to improve targeting for higher grade gold mineralization.
2018 Exploration Program
Drilling bids have been tendered for 25,000 – 30,000 metres to be completed during the planned winter drill program, with commencement expected by mid-January. Approximately 50 percent of the program will test potential new discovery targets, including diamond drilling of the NE Syenite Target and top-of-bedrock RC drilling of additional greenfields targets. The second focus of the program will comprise step-out and infill drilling of the existing resource, including the expanded area now recognized to contain favourable syenite host rocks. The Company will announce a detailed drill plan with drill-hole location maps and specific objectives for the various target areas in the weeks ahead.
The Company has contracted a remote spectral geology characterization and targeting survey, which is expected to aid in assessment of areas west of the defined mineral resource where outcrop is known to exist. Summer fieldwork is planned to include field mapping and geochemical sampling of remote spectral geology target areas, updating the geological and block models, completing the property-scale compilation report started in 2017 and definition of new property-wide drill targets for subsequent campaigns.
Qualified Person & Resource Estimate Disclosure:
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.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may also be materially affected by other relevant factors or issues. The mineral resource estimate has been prepared without reference to surface rights or the presence of overlying public infrastructure. There has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
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 150 km. Maple Gold has a significant drill campaign planned during the 2018 winter season 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 the Company’s website at 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: +1 416.682.2674
Email: [email protected]
Swiss Resource Capital AG – Jochen Staiger
[email protected] - www.resource-cpaital.ch
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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. 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 with respect to the Company’s opinions and beliefs, financial position, business strategy, plans for drilling and re-logging, characterisation of gold mineralisation, geological modelling, data integration, establishing high-quality inferred resource expansion targets, testing target areas, the Company’s goal to deliver significant value, drill campaigns, and plans and objectives of management for future properties and operations. 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.