Joutel Gold Project (50/50 JV)
Overview & Highlights
- The Joutel Gold Project is 100% owned by the 50/50 Joint Venture (“JV”) between Maple Gold and Agnico Eagle Mines Limited (“Agnico”) (excluding the Maple Gold 100% controlled Eagle Mine Property, which lies within the Joutel property boundary)
- The Joutel Gold Project hosts Agnico’s past-producing mine complex with total historical gold production of 1.1Moz at 6.5 g/t Au from 1974 to 1993, during a much lower gold price environment (Eagle-Telbel mine)
- The Joutel property straddles the Harricana Break (or Casa Berardi South), a highly favourable geological structure, over a distance of 15.7 km
- The JV digitized historical drill data at the past-producing, high-grade Telbel underground mine ("Telbel") at the Joutel Gold Project of approximately 250,000 metres and created a modern 3D model to guide targeting
- The new 3D model indicates that the favourable geology hosting the Telbel deposit can be observed both along strike and at depth from the past-producing mine area, as well as the potential for additional target trends that have seen limited drilling
Location
The 39km2 Joutel Project is located approximately 70 km southwest of Matagami and 125 km north of Amos. The property is contiguous to the southern boundary of the Douay Property and is readily accessible by Highway 109, and which cuts across the property. Joutel straddles the Harricana Break and its eastern continuation, the Joutel Deformation Zone, over a distance of 15.7 km. See the figure below for location of Joutel and the Eagle-Telbel deposits relative to Douay. For general Quebec and other infrastructure/location details, please refer to the Company’s presentation or Douay Gold Project page.
JV Partnership
The Joutel Project was contributed into the JV by Agnico along with a strategic equity investment and C$18M in exploration funding at the Douay and Joutel Properties (see press release February 3, 2021).
History
Newspaper clipping from April 24, 1972
Exploration began in 1962 and first gold intercepts were found between 1962 and 1964 as a result of testing coincident magnetic and electromagnetic anomalies.
The Joutel Project hosted the past-producing Eagle-Telbel mining camp went on to produce 1.1Moz @ 6.5 g/t Au from 1974 until it ceased operating in 1993
- Historical mining at the Telbel mine (pre-50/50 JV) focused on exploitation of a single zone between the 600- to 1,000-m levels after completing a drift from the Eagle Mine (100%-MGM) at ~750 m
- After the Eagle-Telbel mine closure in 1993 the Joutel Project shifted to reclamation work. The old analogue drill and stope data remained in paper format until the JV invested approximately C$600k and the better part of 2021 to digitize everything and create a new 3D model
The figure below shows grade contouring and highlighted historical drill intercepts beyond what was historically exploited.
Three initial deep drillholes (1,500 – 2,000 m) will be completed to test the Telbel mineralized system at depth, as part of an additional $4.8M JV deep drilling campaign (see corporate presentation for more information).