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Maple Gold Outlines Follow-up Plans for Defining More High-Grade Mineralisation at the 531 Zone
Montreal, Quebec--(Newsfile Corp. - October 9, 2019) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to provide further analysis and interpretation regarding the potential significance of the higher-grade zones intersected in the lone 2019 drill-hole at the 531 Zone (press release June 5, 2019). The Company has designed a focused 1,400 metre follow-up drill program to begin drilling the immediate target area along an east-southeast trend, which is largely untested and open for ~360m.
Maple Gold's 2019 drill-hole at the 531 Zone (DO-19-262) intersected a new upper zone of 28m averaging 2.6 g/t Au, and effectively terminated in a lower zone of 51m averaging 2.8 g/t Au. The Company interprets these intercepts as linking with higher-grade mineralisation from a historical drill-hole from the early 1990's (D-92-39), which cut 30m of 3.3 g/t Au and 10m of 5.0 g/t Au (see Fig 1 below).
Fig. 1: Proposed fall 2019 drilling (P2019 sites) at 531 Zone with higher-grade zones as currently interpreted. Figure completed on a reduced to pole tilt derivative magnetic base, particularly useful to show magnetic contacts. The magnetic patterns at the 531 Zone may be indicative of folding, with late faults Interpreted (from drill-core) shown with interpreted up-thrown (U) and down-thrown (D) sides.
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The proposed drill program is expected to commence later this fall and will include both deepening of DO-19-262 with the objective of extending the lower mineralised zone, and the collaring of two new step-out drill-holes south (Fig 2) and east of DO-19-262. The Company has submitted applications for forestry intervention permits to allow for additional drill sites in the 531 Zone in anticipation of potential follow-up drilling during the 2020 winter season.
Maple Gold's Vice-President of Exploration, Fred Speidel, commented: "The 2019 drill intercepts on the south side of the 531 Zone, from the first hole drilled here by Maple Gold, are among the top five ever on the property, and are significantly better on a contained gold basis than any other prior hole at the 531 Zone, including the discovery hole. Following additional re-logging and review of historical data for this area, we have concluded that there is significant potential to define additional higher-grade ounces with further drilling, including beyond the direct follow-up of the DO-19-262 intercept."
Fig. 2: Proposed fall 2019 drilling at 531 Zone testing down-dip continuity of 2019 intercepts and possibility of additional mineralisation to the south as well as at depth. Note increased grade and width in 2019 hole as compared to historical drill results in nearby holes.
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531 Zone History & Updated Interpretation
The discovery hole for the 531 Zone was drilled in 1987, with significant follow-up only occurring in 1992 and 1993. Only a few holes were drilled in 2006-2007, so the outstanding 2019 results have increased the priority level of this Zone. Past interpretations have assumed either sub-horizontal or sub-vertical orientations for the mineralised zones; the Company currently prefers a predominantly sub-vertical interpretation. While lithological correlations are typically difficult in mafic volcanic terrains given the rapid lateral variations in coeval volcanic features, 531 Zone drill-core does show interflow sedimentary intervals including laminated cherts, which not only serve as marker horizons for the purpose of hole-to-hole and section-to-section correlations in order to better decipher structural patterns, but also are spatially associated with gold mineralisation (Fig. 3). High magnesium basaltic to ultramafic volcanics serve as additional markers.
Geologically, the style of mineralisation is very similar to Douay West, i.e. higher grade, mostly basalt-hosted, structurally-controlled and relatively distal to the main syenite bodies found in Porphyry and Nika Zones further to the WNW. While there is only minor syenite at 531 Zone, structurally controlled, pyritic K-spar/hematite-carbonate alteration associated with gold mineralisation is significant.
Fig. 3: Highly distinctive mineralised interflow sedimentary horizon with laminated cherts; photograph from re-logging of historical core from the 531 Zone (BQ core, i.e. core diameter 36.5mm).
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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 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: https://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.
"Matthew Hornor"
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Cell: 778.686.6836
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 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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