Maple Gold reports additional drill results from the Porphyry Zone
June 27, 2019 – 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=299175 ) is pleased to report additional results within the Porphyry Zone from its 6,045 metre winter 2019 drilling campaign. The Company drilled a total of eight (8) holes (3,120m) within the Porphyry Zone, with all eight holes intersecting gold mineralisation. Targets in the Porphyry Zone were selected with the aim of extending known zones with higher than deposit-average grades, both near-surface and at moderate depths. New assay results are highlighted below, using a 0.25 g/t Au cut-off grade (see Table 1):
- DO-19-264 cut 27m averaging 1.03 g/t Au, including 14m averaging 1.56 g/t Au, bothfrom 488m downhole (approximately 300m vertical). This new intercept is found within a significantly broader (60m) halo of variable and lower grade Au mineralisation.
- DO-19-263 cut 8.7m averaging 1.14 g/t Au from 273m downhole (approximately 200m vertical), including 6m of 1.45 g/t Au, which tested the up-dip extension of an area drilled during 2018.
- DO-19-265 cut 13m averaging 1.04 g/t Au from 66m downhole or about 40m vertically(from top of bedrock), including 9m averaging 1.36 g/t Au , confirming the presence of near-surface higher than deposit-average grades in this area.
- DO-19-267 cutmultiple intercepts,including 7m averaging 1.49 g/t Au from 145m downhole (approximately 130m vertical), confirming up-dip continuity of a 2018 drill intercept
- DO-19-268 cut multiple intercepts over 1 g/t Au, including 1m averaging 9.89 g/t Au from 269m downhole (approximately 215m vertical), within a 5.5m interval with variable grade averaging 2.33 g/t Au. This hole ended in mineralisation.
The new highlighted intercepts reported above build upon the previously announced 2019 results from the Porphyry Zone, which included DO-19-258 with 19m averaging 2.46 g/t Au (DO-19-258) within a broader interval of 41m averaging 1.41 g/t Au and DO-19-256 with multiple near-surface intercepts including 16m averaging 1.57 g/t Au (see press release May 29, 2019).
Maple Gold’s VP, Exploration, Fred Speidel, commented: “We are pleased with the results to-date from our focused 6,045 metre drill campaign, as we have consistently intersected and extended gold zones within the resource area. These new Porphyry Zone results will continue to help guide our down-dip / down-plunge targeting of higher grade mineralisation going forward.”
Figure 1 (below) illustrates the spatial distribution of the 2019 drill-holes within the Porphyry Zone, with corresponding assay results presented in table 1 below.
Fig. 1: Drill plan with 2019 Porphyry and 531 Zone drill-holes on residual total field magnetic background image.
Fig. 2: Section 706650E with ±50m corridor; mineralised zone uses 0.1 g/t cut-off. DO-18-216 is off section.
Hole DO-19-264 was originally designed to test the depth continuity of a very strong 2018 intercept in DO-18-216 (52m averaging 3.53 g/t Au, or 1.46 g/t Au capped at 13 g/t). However, the 2019 hole deviated more than expected, with the above-mentioned holes ending approximately 150m apart in an EW direction down-hole. Therefore, the depth continuity was not adequately tested as planned. However, results from DO-19-264 still support the down-dip continuity of the broader mineralisation envelope and the presence of higher grade mineralisation within it. The Company will continue testing the down-plunge continuity of these higher grade zones or shoots in a subsequent drilling campaign.
Table 1: Highlighted 2019 Drill Intercepts from the Porphyry Zone and Exploration Area (10 holes in total)
*Denotes new assays results (DO-19-256, DO-19-258 and DO-19-260 were first reported on May 29, 2019). All intervals are downhole lengths, with true estimated width varying from approximately 70-90% depending on the hole and mineralised zone orientation. Capping in the Porphyry Zone is done at 13 g/t Au per Micon (2018). Cut-off used for broader intercepts is 0.25 g/t Au. **Denotes two greenfield exploration drill-holes (see text below).
The Company also drilled two greenfield exploration holes (DO-19-259 and -261) more than 1km south of the Porphryry Zone. These two drill holes were targeting potential new gold zones in an area that had previously yielded multiple narrow intercepts from 1-17 g/t Au. A single zone gave 1.05 g/t Au over 1.8m in one of the holes, with anomalous Zn also indicative of base metal potential in this general area.
Additional figures and core images corresponding to the drill-holes reported in this press release will be posted to the Company’s website shortly.
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 ALS 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:
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 ~355 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 resource3 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 mineralisation 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. 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.