Company News – Mon 14 May, 2018

Maple Gold drills 50 metres of 1.77 g/t Au and extends new Nika Zones in the NW Gap Area

Here is another drill result from Maple Gold Mines (TSX-V: MGM, OTCQB: MGMLF). The last two news releases have reported some higher grade (than the current 3+ million ounce resource) in areas that the Company will want to follow up on.

Click here to listen to the last interview I had with Maple Gold’s President and CEO Matthew Horner.

I will be following up with the team so if you have any questions for them or me please email me at Fleck@kereport.com. Remeber I am a shareholder but I am also happy to share my thoughts and get your questions answered.

… Here’s the news…

Montreal (Quebec): Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G) is pleased to report additional drill results from the Nika Zones located in the “NW Gap Area” between the Douay West, Porphyry and NW resource zones. DO-18-218 returned 50m grading 1.77 g/t Au (uncut) from 297m downhole (estimated 200m true vertical depth).

  • The up-dip extension of this mineralized zone remains open to surface
  • 50m intercept shows excellent continuity with few internal low-grade samples and more than
    twice the width and twice the grade expected as per the previous wireframe interpretation
  • This wireframe was not included in the Micon 2018 pit-constrained resource estimate due to insufficient drill density, therefore representing potential additions to the existing resource base

Maple Gold’s President and CEO, Matthew Hornor, stated“We are very pleased with the early returns from the 2018 drill campaign. Defining the new Nika Zones and the additional success we’ve had in the NW Gap Area has the potential to add significantly to our resource base and brings us a step closer to connecting some of the zones in this large intrusive related gold system.”

Table 1. Assay Highlights for DO-18-218

Hole
Easting
Northing
Azimuth
Plunge
From
To
Interval
Au ppm
DO-18-218
705200
5491498
360
-45
162.0
176.0
14.0
0.35
DO-18-218
201.0
222.5
21.5
0.54
DO-18-218
290.1
292.0
1.9
0.80
DO-18-218
297.0
347.0
50.0
1.77
Including
298.0
324.0
26.0
1.40
Including
342.8
347.0
4.2
8.92
DO-18-218
357.3
366.1
8.8
0.44
Including
364.0
366.1
2.1
1.05
DO-18-218
391.0
403.0
12.0
0.31
DO-18-218*
409.8
423.0
13.2
0.86
including
415.0
419.5
4.4
1.24
DO-18-218*
453.0
454.0
1.0
1.67

*Reported April 23, 2018. Intervals given 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 over limits (>10 g/t Au) done by AU-GRA21, i.e. gravimetric analysis of 30g sample weight.

In addition to DO-18-218, Maple Gold received results for DO-18-214, which intersected 9.5m of 1.01 g/t Au in the NW Zone; this intercept is not part of an existing wireframe and therefore also represents a new zone. A complete table (Table 2) summarizing all drill results received to-date from the drilling in the NW Zone, Gap Area and Nika Zones is appended to this press release.

May14_fig1.jpg
Figure 1: DO-18-218 on section 705200E

The configuration of the new DO-18-218 intercepts reported here, as well as those reported previously for holes DO-18-217 and -218 (see press release of April 23, 2018), is consistent with a series of subparallel mineralized zones with an overall NW-SE trend, consistent with our evolving deposit-scale structural model which includes two controlling fault sets within the Resource Area: the East/West Casa Berardi fault set, and the NW/SE Douay fault set.

This mineralized zone is projected from the bottom of historical drill-hole DO-13-131, collared 100m further east; that drill-hole cut 12m of 0.65 g/t Au. The down-dip continuity of DO-13-131 intersection was tested in hole DO-18-241 (assays pending). Figure 2 below highlights the plan view map of drill-hole locations in the NW Gap Area, with the new Nika Zones highlighted.

May14_fig2.jpg
Figure 2: Drill-hole location map highlighting the new Nika Zones and surrounding NW Gap Area

The significant thickening of the mineralized zone in DO-18-217 (see press release April 23, 2018) appears to have formed at the intersection of East/West and NW/SE structures. The new interpretation also allows integration of other high-grade intercepts into more continuous zones. For example, DO-11-57 (1.18 g/t over 24m, including 3.5 g/t Au over 6m), which generated high grade blocks (>2.5 g/t Au) outside the existing (Micon 2018) pit-constrained resource, likely forms part of a NW-SW mineralized zone, rather than a discontinuous EW zone as per the previous interpretation. The mineralized zones in the NW Gap Area, including the Nika Zones, are outside the limits of the current (Micon 2018) pit-constrained resource (see Figure 2).

The Company continues to be very encouraged with the early returns from the 2018 winter drilling campaign and looks forward to the final drill results from the NW Gap Area. To view drill-core photographs for DO-18-218, see below and visit the Company’s website for additional images.

May14_drillcore1.jpg
Drill-core Picture 1: (DO-18-218) strongly fractured pink to red syenite with abundant fine pyrite stringers and disseminations.

May14_drillcore2.jpg
Drill-core Picture 2: (DO-18-218) strongly fractured pale pink syenite with network of pyrite and/or fluorite-filled crackles, with sericitic haloes. Core diameters 47mm.

Table 2. Summary of 2018 Drill Results to-date from Nika Zones and NW Gap Area

Hole
Easting
Northing
Azimuth
Plunge
From
To
Interval
Au ppm
DO-18-212
704892
5491799
360
-60
28.7
42.0
13.3
0.43
including
33.0
34.3
1.3
1.25
including
37.0
38.0
1.0
1.07
DO-18-212
125.6
129.0
3.5
0.67
including
127.1
127.9
0.9
1.15
DO-18-212
205.0
209.0
4.0
0.48
DO-18-214
705321
5491889
360
-50
181.0
184.0
3.0
0.86
incl
181.0
182.0
1.0
1.71
DO-18-214
424.5
434.0
9.5
1.01
incl
424.5
428.0
3.5
1.88
incl
433.0
434.0
1.0
1.50
incl
441.5
446.4
4.9
0.74
DO-18-214
454.9
457.0
2.1
0.42
DO-18-217
705112
5491600
360
-50
147.7
150.0
2.3
1.83
DO-18-217
165.0
178.0
13.0
0.50
including
166.0
168.0
2.0
0.87
including
175.5
178.0
2.6
1.19
DO-18-217
284.0
388.0
104.0
0.44
including
286.0
287.0
1.0
1.04
including
284.0
293.1
9.1
0.47
including
303.0
333.8
30.8
0.74
including
309.0
326.0
17.0
1.08
including
333.0
333.8
0.8
1.64
including
356.0
388.0
32.0
0.30
DO-18-218
705200
5491498
360
-45
162.0
176.0
14.0
0.35
DO-18-218
201.0
222.5
21.5
0.54
DO-18-218
290.1
292.0
1.9
0.80
DO-18-218
297.0
347.0
50.0
1.77
Including
298.0
324.0
26.0
1.40
Including
342.8
347.0
4.2
8.92
DO-18-218
357.3
366.1
8.8
0.44
Including
364.0
366.1
2.1
1.05
DO-18-218
391.0
403.0
12.0
0.31
DO-18-218
409.8
423.0
13.2
0.86
including
415.0
419.5
4.4
1.24
DO-18-218
453.0
454.0
1.0
1.67
DO-18-227
704896
5491654
360
-60
Assays
Pending
DO-18-233
705283
5491808
360
-50
Assays
Pending
DO-18-241
705300
5491370
360
-50
Assays
Pending

*Intervals given are all down-the hole lengths, which are estimated to be approximately 90% of true width

Qualified Person

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 is now completing 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.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Joness Lang
VP, Corporate Development
Office: +1 416.306.8124
Email: jlang@maplegoldmines.com

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 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.


Comments:
  1. On May 14, 2018 at 10:41 am,
    Scott says:

    Hi Cory,these results, most of which are outside the known resource, will only add to the 3+ million ounces they already have…..yet the stock continues to lag or hardly move @ all.Do you feel that this is just the fact that all miners are out of favor right now or is something else @ play?
    Scott

    • On May 14, 2018 at 11:44 am,
      Cory says:

      Hey Scott,
      I really think the lag in the stock is telling us about the broad metals market. Very little is actually moving. I will do some digging to find out if there is something else at play but these recent drill results really should have brought in a few buyers.

      It seems summer has come early. There are a lot of companies nicely advancing their stories however so that should add some credibility to the sector… eventually.

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