June 26, 2018 – Montreal (Quebec): Maple Gold Mines Ltd. (“
Maple Gold” or the “
Company”) (
TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G) is pleased to report additional drill results from the western half of the Porphyry Zone within the current Resource Area at the Douay Property. Within this area (see Figure 1) a total of eight (8) infill and step-out holes were drilled in 2018, with assays pending for the westernmost hole of these only. Both geological observations and assay results for these new holes show good continuity of mineralization in this area, with several higher grade intervals, within a syenite dyke or dyke swarm in the hanging wall of one of the Casa Berardi Faults (see Figure 2).
- DO-18-229 cut several mineralized zones, including 12.0m of 1.90 g/t Au, 8.5m of 3.80 g/t Au (uncapped) and 5.5m of 1.94 g/t Au, all of which form part of a broader envelope of lower-grade halo mineralization which extends to surface in historical hole D-92-07 (see Figure 2A).
- DO-18-234 cut several mineralized zones, including an upper zone in basalt with 7.0m grading 1.47 g/t Au and a lower zone in syenite with 27.9m grading 0.66 g/t Au. The latter extends to surface in historical hole DO-05-02 (see Figure 2B)
- DO-18-230 also cut multiple mineralized zones, including an upper zone in basalt with 4.8m grading 1.25 g/t Au and a lower zone in syenite with 24.0m grading 0.75 g/t Au, including 7.0m grading 1.17 g/t Au. These zones also extend to surface in holes DO-12-97 and 70586-0, respectively (see Figure 2C)
In addition to the highlights mentioned above, several other drill-holes successfully confirmed both lateral and vertical continuity of mineralization (see
Table 1: Highlighted Drill-Results to-date from the Western Portion of the Porphyry Zone, below).
Maple Gold’s President and CEO, Matthew Hornor, stated: “Infill and step-out drilling has successfully confirmed down-dip extensions of existing mineralized zones in the main Porphyry Zone. Further drill results are expected in the coming weeks from the Nika Zone, the eastern half of the Porphyry Zone and also from new greenfields drilling to the NE and NW of the Resource Area.” Table 1: Highlighted 2018 Drill Results to-date from Western Portion of the Porphyry Zone
(Newly reported drill-holes shaded grey)
Intervals given are all down-the hole lengths, which are estimated to be approximately 90% of true width. Coordinates are NAD83 Zone 17N. All assays were performed by ALS Laboratories by AU-ICP21, i.e. 30 g fire assay with ICP finish with any over limits (>10 g/t Au) redone by AU-GRA21, i.e. gravimetric analysis of 30g sample weight. Nominal cut-off to obtain intercepts is 0.25 g/t Au, but depending on grade distribution effective cut-offs can be somewhat higher or lower. All intercepts are uncapped, those identified with (*) include samples with overlimits (>10 g/t Au); which may be subject to grade capping during future resource estimation. 2018 drilling in the western half of the Porphyry Zone shows a broad (90-130m true width) halo of gold mineralization, extending several hundred meters along strike and mainly hosted in syenites (see Figures 1,2) within which higher grade (>1 g/t Au) intervals are found. In some cases the lower portion of the halo has the best grades (e.g. DO-18-229 shown in Figure 2A), in others the upper portion (DO-18-230 shown in Figure 2C). Narrow high grade structures are also found in basaltic wallrocks (Figure 2B).
Figure 1: Drill plan for western part of Porphyry Zone. Note previously reported hole DO-18-216 located 160m to the east of DO-18-229, and continuity of mineralized envelopes (current wireframes use a 0.1 g/t Au cut-off) between these holes. Note new mineralized zones (pink polygons), in areas previously classified as waste.
Figure 2 (A, B & C): Geological sections over an (EW) distance of 550m, with gold grade distribution shown as black bars.
A (above left), Geological section for DO-18-229. Note continuity of broad mineralization envelope from the deepest intercepts in DO-18-229 right to surface.
B (above right), Geological section for DO-18-234 and -240, note continuity of mineralization as well as new mineralized zone cutting the central part of the hole.
C (below), Geological section for DO-18- 230, with the best grades some distance from the fault. Vertical gridlines are 200m apart, horizontal gridlines 50m.
In addition to confirming continuity of mineralization down-dip, these sections demonstrate that mineralization is still open at depth, and that additional resources can be defined further down-dip and still within the envelope of a conceptual pit (<500m depth). Furthermore, additional mineralized zones are still being found in syenite and in basalt wall rock, in areas previously classified as waste (Figure 2C left, Figure 3 below).
Qualified Person 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:
https://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 resource (1) 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. “Matthew Hornor”
B. Matthew Hornor, President & CEO
For Further Information Please Contact: Mr. Joness Lang
VP, Corporate Development
Office: +1 416.306.8124
Email:
jlang@maplegoldmines.com 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.