Montreal, Quebec--(Newsfile Corp. - June 4, 2020) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report further assay results from its 2020 winter drilling campaign at the Douay Project, following positive drill results reported previously for 531, NW and Western Porphyry Zones, as well as significant IP anomalies in the 531 Zone, Main Zone and NE Vezza-style target areas. Drilling at the Nika Zone included four planned drillholes (see Fig 1). Highlights from the Nika Zone drilling are summarized below:
➢ DO-20-279 intersected 0.95 g/t Au over 6m within a broader interval of 0.50 g/t Au over 26m starting from only 64m downhole, including several additional narrow shallow intercepts of greater than 1 g/t Au between 110 and 136m downhole
➢ DO-20-275 intersected multiple intervals of >1 g/t Au starting at 110m downhole, including 2.55g/t Au, 1.26 g/t Au and 5.30 g/t Au, all over 1m each, as well as 0.61 g/t Au over 10m near the end of the hole.
➢ DO-20-282, planned to about 400m depth, had to be abandoned at only 120m as a result of the COVID-19 related work stoppage; it cut 2m of 1.40 g/t Au from 101m downhole and ended in mineralization
Maple Gold's VP, Exploration, Fred Speidel, commented: "The Nika Zone, with new resources added in the 2019 resource estimation update (RPA 2019), remains relatively sparsely drilled with significant remaining exploration potential. Unfortunately, due to ground conditions and to the untimely work stoppage related to COVID-19, only two of the four holes drilled in this area achieved their planned depth. Given those limitations, we are encouraged to have intersected a mineralized zone starting from only 64m downhole in DO-20-279, cut grades up to 5.30 g/t Au in DO-20-275 and have our last drillhole (DO-20-282) bottom in mineralization before the local shutdown took place."
Fig. 1: Drill plan for Nika Zone on total field tilt aeromagnetic base. Note close association between magnetic units and gold mineralization, and gaps in drilling along this unit to the ESE and also to W as shown with the white ellipses.
To view an enhanced version of Fig 1, please visit:
Fig. 2: Selected core from interval 180-181m in DO-20-275, which averaged 5.3 g/t Au. Note strongly fractured, weakly hematitic fine-grained syenite with disseminated and patchy pyrite mineralization. NQ core, 47.6mm diameter. Note that this core is not necessarily representative of all Douay mineralization.
To view an enhanced version of Fig 2, please visit:
One of the Company's primary objectives within the known resource areas is defining additional near-surface higher grade mineralization, such as exists at Douay West and the western portion of the Porphyry Zone (final assays pending). The Company will continue to target other areas that may have such potential, such as at the NW Zone (see press release May 6, 2020) and, possibly, in the intervening Nika Area. Winter 2020 drill results at Nika did cut several broader zones of lower grade halo material within which several narrow higher grade intervals were found, but defining larger concentrations of higher grade near surface gold mineralization has proved challenging so far since the 2018 discovery hole in this area. Significant drilling gaps still exist (Fig. 1) so potential exists to discover more higher grade material in this area, by analogy with the geologically similar and nearby western portion of the Porphyry Zone (see press release May 27, 2020).
Table 1: Summary of 2020 Assay Results for the Nika Zone
|Hole||UTME||UTMN||Azimuth||Plunge||Length (m)||From||To||Interval||Au g/t|
Notes: All lengths are downhole, true widths are approximately 90% of downhole lengths.
Additional assay results remain outstanding for 2020 drilling in the Porphyry Zone.
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; drillhole 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 Val d'Or, QC, 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 resource 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
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.
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