Vancouver, British Columbia – June 20, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Firm”) is happy to report assay outcomes from the Firm’s Part I drill program at its 100%-controlled Eagle Mine Property (“Eagle”) in Quebec, Canada. The Part I program consisted of eight (8) diamond drill holes totaling 4,462 metres (“m”) that start to check potential extensions of mineralization alongside the past-producing Eagle-Telbel Mine Development. Importantly, drilling has recognized at the least 4 (4) extra types of gold mineralization past the identified Eagle-Telbel type mined traditionally, offering additional indications for a number of gold occasions that will present for broader gold distribution than beforehand interpreted.
- Drill gap EM-22-005 intersected 4.0 grams per tonne gold (“g/t Au”) over 7.5 m, together with 6.4 g/t Au over 3.0 m, inside a semi-massive pyrite and iron carbonate horizon typical of historic Eagle-Telbel type of mineralization (see Plates 1 and a couple of).
- Drill gap EM-22-001 intersected 4.4 g/t Au over 0.9 m inside quartz-carbonate veinlets containing seen gold (VG).
- Drill gap EM-22-002 intersected 2.4 g/t Au over 4.7 m, together with 3.8 g/t Au over 2.1 m, inside extremely altered, graphitic and pyritic Harricana Group sediments, in addition to 2.1 g/t Au over 1.8 m additional up gap in altered microgabbro.
Fred Speidel, VP Exploration of Maple Gold, said: “We’re happy with the outcomes thus far from our preliminary Eagle drill marketing campaign. The info collected throughout Part I is already guiding our Part II drilling, which exams the Eagle-Telbel Mine Development at better depths, and we count on to achieve our goal of twelve (12) drill holes totaling roughly 8,200 m by the top of this quarter. As well as, we’ve simply accomplished Winter 2022 drilling at Douay with assay outcomes anticipated within the coming weeks, and preliminary partnership drilling at Telbel is predicted to start in Q3 2022 as a part of a just lately authorised C$4.8 million supplemental price range for deep drilling at Douay and Joutel. This yr ought to show be the Firm’s busiest one but for exploration drilling, reflecting our purpose of creating new discoveries and attaining vital useful resource beneficial properties throughout our Quebec undertaking portfolio.”
Interpretation and Abstract of Outcomes
Almost the entire Part I drill holes contained at the least one interval with better than 1 g/t Au (see Desk 1 for full assay outcomes). Along with the traditionally mined Eagle-Telbel type semi-massive pyrite with iron carbonate veinlets in blended felsic volcanics and sediments, Part I drill core displayed a number of extra distinct types of gold mineralization, together with:
- Quartz-carbonate-visible gold veinlets in footwall felsic volcanics and pyroclastics
- Iron carbonate-pyrite altered microgabbro
- Silica-pyrite altered feldspar porphyry
- Pyrite-rich, graphitic, hanging wall sediments
The primary three holes, EM-22-001 to EM-22-003, examined shallow targets northwest of the Eagle-Telbel Mine Development which are primarily related to micro-gabbro hosted mineralization, in addition to sulfide-rich graphitic sediments discovered on the prime of the Harricana Group sediments. The following two holes, EM-22-004 and EM-22-005, examined average depth targets characterised by considerable to semi-massive sulfide and Fe-carbonate veinlets in several proportions (see Plates 1 and a couple of). The final three holes, EM-22-006 to EM-22-008, examined the identical pyrite and iron carbonate zones at barely better depth; along with this goal, the holes additionally intercepted gold mineralization in microgabbro and feldspar porphyry.
The situation of the Firm’s Part I (accomplished) and Part II (in-progress) drill holes is proven in Determine 1 under. A piece view depicting the placement of the EM-22-005 intercept relative to historic drilling (notably EM-14-001, which returned 12.4 m of two.9 g/t Au, together with 4.8 m of 5.3 g/t Au) and the present 3D mannequin at Eagle is proven in Determine 2 under.
Fairness Incentive Plan Grant
Pursuant to its Fairness Incentive Plan (the “Plan”) dated December 17, 2020 and the insurance policies of the TSX Enterprise Trade, the Firm has granted inventory choices (“Choices”) to an worker, officer and director of the Firm. The brand new Choices grant is a alternative award for Choices that just lately expired with out being exercised.
Choices to buy an combination of three,000,000 frequent shares of the Firm (every, a “Widespread Share”) have been granted, with an train worth of $0.23 per Widespread Share. Every Possibility grant vests one-third on the date of the grant, one-third 12 months from the date of the grant and one-third 24 months from the date of the grant. As soon as vested, every Possibility is exercisable into one Widespread Share for a interval of 5 years from the date of the grant.
Additional particulars concerning the Plan are set out within the Administration Data Round of the Firm filed on Might 16, 2022, which is accessible on SEDAR.
Certified Particular person
The scientific and technical knowledge contained on this press launch was reviewed and ready underneath the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Certified Particular person underneath Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Tasks. Mr. Speidel has verified the information associated to the exploration info disclosed on this press launch by way of his direct participation within the work.
High quality Assurance (QA) and High quality Management (QC)
The Firm implements strict High quality Assurance (“QA”) and High quality Management (“QC”) protocols at Eagle overlaying the planning and inserting of drill holes within the subject; drilling and retrieving the NQ-sized drill core; drillhole surveying; core transport; core logging by certified personnel; sampling and bagging of core for evaluation; transport of core from website to the Val d’Or, Quebec AGAT laboratory; pattern preparation for assaying; and evaluation, recording and last statistical vetting of outcomes. For an entire description of protocols, please go to the Firm’s QA/QC webpage at www.maplegoldmines.com.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian superior exploration firm in a 50/50 three way partnership with Agnico Eagle Mines Restricted to collectively advance the district-scale Douay and Joutel gold initiatives positioned in Quebec’s prolific Abitibi Greenstone Gold Belt. The initiatives profit from distinctive infrastructure entry and boast ~400 km2 of extremely potential floor together with a longtime gold useful resource at Douay (SLR 2022) that holds vital enlargement potential in addition to the past-producing Eagle, Telbel and Eagle West mines at Joutel. As well as, the Firm holds an unique possibility to amass 100% of the Eagle Mine Property.
The district-scale property bundle additionally hosts a major variety of regional exploration targets alongside a 55 km strike size of the Casa Berardi Deformation Zone which have but to be examined by way of drilling, making the undertaking ripe for brand spanking new gold and polymetallic discoveries. The Firm is properly capitalized and is at the moment centered on finishing up exploration and drill packages to develop assets and make new discoveries to determine an thrilling new gold district within the coronary heart of the Abitibi. For extra info, please go to www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
B. Matthew Hornor, President & CEO
For Additional Data Please Contact:
Mr. Joness Lang
E-mail: [email protected]
Mr. Kiran Patankar
SVP, Progress Technique
E-mail: [email protected]
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.
Ahead Trying Statements:
This press launch accommodates “forward-looking info” and “forward-looking statements” (collectively known as “forward-looking statements”) inside the which means of relevant Canadian securities laws in Canada, together with statements about exploration work and outcomes from present and future work packages. Ahead-looking statements are primarily based on assumptions, uncertainties and administration’s greatest estimate of future occasions. Precise occasions or outcomes might differ materially from the Firm’s expectations and projections. Traders are cautioned that forward-looking statements contain dangers and uncertainties. Accordingly, readers mustn’t place undue reliance on forward-looking statements. For a extra detailed dialogue of such dangers and different components that might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements, consult with Maple Gold Mines Ltd.’s filings with Canadian securities regulators obtainable on www.sedar.com or the Firm’s web site at www.maplegoldmines.com. The Firm doesn’t intend, and expressly disclaims any intention or obligation to, replace or revise any forward-looking statements whether or not because of new info, future occasions or in any other case, besides as required by regulation.
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