Montreal, Quebec--(Newsfile Corp. - June 12, 2019) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report results from the 40.4 line-km winter Induced Polarization ("IP") program, for which the final report was recently received. Highlights include the definition of several combined high chargeability and low resistivity targets east of and along trend from the resource area, as well as more subtle but broad and continuous chargeability highs to the NE.
This IP program was designed to test a 4x4km area for the presence of disseminated and/or semi-massive to massive sulfide systems covering part of the eastern extension of the resource area trend, as well as the major lithotectonic break between Cartwright Hills Group basalts to the south and Taibi Group sedimentary rocks to the north, where the Company interprets the northern boundary of the Casa Berardi Deformation Zone to be located.
While the area of the southern group of IP anomalies has seen a modest amount of historical drilling, these anomalies are mostly open to depths (>400m) typically not reached by previous drilling, and much less by historical IP surveys. The northern chargeability anomaly, which is continuous for about 3.2km along strike, has only a single historical drill-hole.
- The northern target is continuous and relatively consistent over a strike length of over 3km, and is mostly open to depth. While the magnitude of the anomalies is expected to be attenuated by relatively thick, in part conductive overburden, the NE target anomalies are significantly stronger than those obtained in a similar ("OreVision") IP survey performed by Abitibi Geophysics in 2013 over part of the Porphyry Zone.
- The southern targets extend for a distance of at least 2.6km along strike, open to the west (towards the resource area) and show narrower, more confined responses more typical of structurally- or lithologically-controlled sources.
Maple Gold's President and CEO, Matthew Hornor, commented: "It is highly encouraging that modern IP surveys are now able to see to such depths in areas of glacial cover, and that with this method we will be able to pinpoint the location of sulfide systems prior to drilling them. We look forward to further testing of these IP anomalies and further IP testing of remaining target areas across the Douay property."
These results are consistent with the Company's ongoing efforts not only to continue advancing the known deposit area, but also to continue evaluating the rest of the large Douay land package and to define additional targets for future drilling.
Figure 1 (below) illustrates the lateral continuity of both northern and southern chargeability anomalies, as well as the limited amount of drilling in these areas. The northern IP anomalies appear to reflect larger source areas that are open to depth as shown in Fig. 2. The southern IP anomalies appear to be mainly associated with narrow lithological contacts or structures. Note the position of the drill intercepts from the 531 Zone that were recently published (see press release of June 5, 2019).
Fig. 1: IP grid on LiDAR base, with new chargeability targets and historical drill-holes. Note position of recently released 531 Zone intercepts (green bar) with corresponding drill collar to south (yellow dot). Historical drill-holes from company and SIGEOM databases.
To view an enhanced version of Figure 1, please visit:
Figure 2 (below) contrasts the different morphologies of the northern and southern IP anomalies, and also the fact that both may be open to depths greater than the interpreted 400m vertical investigated by this survey.
Fig. 2: North-south inversion L24+00E (looking west), showing broader and more subtle northern chargeability target and narrower but stronger southern target, with drilling proposed by Abitibi Geophysics. Northing labels are 400m apart.
To view an enhanced version of Figure 2, please visit:
Corporate Update - AGM
The Company further announces that it intends to reschedule its Annual General Meeting from June 13, 2019 to July 18, 2019.
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: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
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
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 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.
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