Maple Gold Summarizes 2018 Drilling Highlights After Receiving Final Assays
Below is the recent news out of Maple Gold Mines. I know there have been a number of you asking for a rundown of the drilling this year and now we have a good summary. The last few months have been disappointing from a share price perspective but there was some good progress made on defining potential new zones at the current resource area (as outlined below). What I am watching for is some follow up work on the new targets that were generated by the greenfield drilling shallow RC holes.
Please let me know if you have any questions for the Company or I. I will be chatting with them later this week. Please email your questions to Fleck@kereport.com.
…Here’s the news…
Montreal, Quebec–(Newsfile Corp. – September 4, 2018) – Maple Gold Mines Ltd. (“Maple Gold” or the “Company“) (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) is pleased to provide a highlights summary of the 2018 drilling campaign now that all assays have been received. The 2018 winter drilling campaign included 21,122 metres of diamond drilling from 52 holes and 1,471.3 metres from 57 short top-of-bedrock Reverse Circulation (RC) holes for a total of 22,593 metres.
Approximately 70% of the total meterage was within or near the known Resource Area, defined as the 6.3 km by 1.8 km corridor including the outline of the Micon 2018 conceptual pits, and also including any known mineralized zones extending beyond the resource. The Douay NI 43-101 resource contains 479,000 indicated ounces averaging 1.59 g/t Au and 2,759,000 inferred ounces averaging 1.02 g/t Au, all using a 0.45 g/t Au cut-off grade (Micon 2018).1 Some of the Resource Area drilling in 2018 was focused on aggressive step-out targets, particularly where gaps in the drill-hole distribution could allow the discovery of new zones with potential to add ounces and bring the Company a step closer to connecting and linking up surrounding mineralized zones. The balance of the meterage (~30%) was dedicated to begin exploring the greater 377 km² property package and generate new greenfield targets (shallow RC drilling), while also testing two existing greenfield target areas (NE Syenite and NW Greenfield target areas) with a first phase of diamond drilling. The following sections outline highlights from the various areas drilled in the 2018 campaign along with initial interpretation and analysis.
Resource Area: Central Resource Area (Porphyry Zone infill/step-out): 29 drill-holes (11,735 metres)
This drilling mainly focussed on confirming along strike and down-dip (or up-dip) continuity of existing zones, in particular in areas with lower density of drill-holes.
Highlighted results (true-widths estimated to be approximately 90% of down-hole length):
- DO-18-216: 52m @ 3.53 g/t Au (including 21m @ 7.87 g/t Au) within broader ~150m halo of lower grade material; DO-18-203: 19m @ 0.88 g/t Au [see press release May 2, 2018]. These zones extend from surface to over 300m vertical depth.
- DO-18-229: cut several mineralized zones, including 12m @ 1.90 g/t Au, 8.5m @ 3.80 g/t Au and 5.5m @ 1.94 g/t Au, all of which form part of a broader envelope of mineralization that extends to surface; DO-18-234: numerous mineralized zones, including 7m @ 1.47 g/t Au and 27.9m @ 0.66 g/t Au; DO-18-230: multiple zones, 24m @ 0.75 g/t Au (including 7m @ 1.17 g/t Au) and 4.8m @ 1.25 g/t Au, these zones also extend to surface [see press release June 26, 2018]
- DO-18-247: cut several mineralized zones, including 21m @ 3.49 g/t Au, including 6.0 m of 9.32 g/t Au; DO-18-254: cut 27.5 m of 1.25 g/t Au, including 2.1 m of 5.36 g/t Au; DO-18-244: cut several mineralized zones, including 7m @ 2.06 g/t Au and three others over one g/t Au. All of these zones extend to surface [see press release July 9, 2018]
Summary: The assay results from drilling in the central part of the Porphyry Zone (including DO-18-216) support the Company’s concept of multiple higher-grade zones or shoots within the Porphyry Zone, demonstrate the continuity of this style of mineralization in the central part of the Porphyry Zone, and open the possibility of increasing grades at depth.
Highlighted results from the east-central part of the Porphyry Zone (DO-18-247, DO-18-254 and DO-18-244) targeted an area with lower drill density and intersected significantly higher grades than adjacent holes, indicating that grade may increase at depth in this area.
Drilling in the western half of the Porphyry Zone (i.e. west of DO-18-216) confirmed the presence of a broad (90- to 130-metre true width) halo of gold mineralization, extending several hundred metres along strike and mainly hosted in syenites (DO-18-229, DO-18-230, DO-18-234).
Resource Area: NW Zone, NW Gap Area (including new Nika Zones): 11 drill-holes for 4,528 metres
Drilling focused on an area with low drill density between the NW, Douay West and Porphyry Zones (the NW Gap Area), where several scattered higher grade intercepts had previously been obtained, mainly outside of the existing conceptual pits, where additional drilling could confirm continuity of these intercepts and expand the existing conceptual pits.
Highlighted results (True widths are estimated to be approximately 90% of down-hole lengths):
- DO-18-217: 17m @ 1.08 g/t Au within broader ~100m halo of lower-grade mineralization [see press release April 23, 2018]; DO-18-218: 50m @ 1.77 g/t Au with excellent continuity and up-dip extension open to surface [see press release May 14, 2018]; DO-18-227: 5m @ 2.32 g/t Au on the southeast edge of an existing (Micon 2018) conceptual pit [see press release June 11, 2018]; DO-18-241: 12m @ 1.78 g/t Au confirming eastern continuity and extension of gold mineralization from DO-18-218 [see press release July 26, 2018]
Summary: Drilling in the NW Gap area was very successful, with the discovery of several new zones of mineralization (the Nika zones). There are large bodies of syenite in this area, which together with initial interpretation of trace element patterns, appear to indicate this area may represent one of several intrusive-hydrothermal centers forming part of the Douay Resource. As is also the case for the Porphyry Zone, higher-grade intervals are surrounded by broad lower-grade haloes. Additional drilling is required to further define these new mineralized zones, along strike and up-dip and down-dip.
Maple Gold’s VP, Exploration, Fred Speidel, stated: “Nearly three-quarters of the winter 2018 drill program focused on building on the core area of the project and we have been pleased with the successes there. We were not only able to extend key mineralized areas within the known deposit area, but also discovered new gold zones (Nika) and overall have made solid progress in the established Resource Area. Over the coming weeks and months our technical team will be updating our models as we progress towards the next resource estimate at Douay.”
Fig. 1: Distribution of Resource Area and greenfield drill-hole locations, including shallow top-of-bedrock RC drilling
To view an enhanced version of Fig. 1, please visit: http://orders.newsfilecorp.com/files/3077/38438_a1536036131871_61.jpg
Greenfield Drilling: Shallow RC drilling (1,471.3 metres), NE Syenite (2,869 metres) and NW Greenfield (1,991 metres)
The shallow 2018 reverse circulation (RC) drilling generated three (3) new geological targets in the westernmost part of the Douay Project. The new targets are located approximately 35 km west of the Resource Area, and are within a block of about 38 km of ground that was staked by the Company in late 2017. Very limited historical exploration work has been documented here; this shallow exploration drilling represents the Company’s first phase of work in this area and was designed to provide initial bedrock and overburden data to permit vectoring towards targets for additional exploration work and potential core drilling in subsequent campaigns.
An initial review of the assays from core drilling results received for both the NW Greenfield and NE Syenite areas showed encouraging anomalies in several pathfinder elements that can be associated with gold in the Resource Area; these geochemical anomalies deserve further surface work with the objective of vectoring in on and refining future drill targets in these areas.
The Company completed 1471.3 metres of RC drilling in 57 shallow holes in two areas: the western area and the south-central area (see Fig. 1, inset). In the more favorable western area, three separate gold-in-till anomalies were obtained, with 25, 35 and 21 gold grains in till samples; a more subtle fourth anomaly with 16 gold grains also occurs adjacent to the best of the first three, thereby augmenting and confirming that target. Background for this area is approximately 0 to 5 gold grains per till sample. Bedrock geochemistry for these and adjacent holes shows several different alteration styles, some of which are similar to alteration in the Resource Area and others more indicative of a volcanogenic massive sulfide (VMS) style of mineralization such as the nearby Joutel and Estrades deposits. The average overburden thickness in this western area was 27.9 metres. Additional follow up work is planned for this area and is expected to include an IP survey in an effort to firm up potential new discovery drill targets.
Maple Gold’s VP, Exploration, Fred Speidel, commented: “Results from initial core drilling in higher risk (but also potentially higher reward) greenfield areas are sufficiently encouraging to warrant further exploration, with positive geological and geochemical indications in all three areas tested.”
Speidel added: “Shallow RC drilling is a cost–effective exploration tool for new target generation in areas with glacialcover that allows us to obtain important information about both bedrock and glacial overburden geology and geochemistry. There are encouraging indications for both gold and base metals in the western area, where overburden thickness was shown to be less than expected. We will build on the data we’ve received from this work in an attempt to vector in towards new greenfield targets for future drilling campaigns.”
Fig. 2: Compilation map for RC drill program, westernmost part of property only, on regional magnetic gradient base map. Gold, copper and base metal intercepts from historical drill-holes.
To view an enhanced version of Fig. 2, please visit:
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 resource2 that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold has now 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
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.
1 (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.
2 (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.