Maple Gold Starts Drilling Step-out Targets at the Douay Gold Project
MONTREAL, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V:MGM) (OTCQB:MGMLF) (Frankfurt:M3G) is pleased to announce that the first drill-hole has commenced at the Company’s Douay Gold Project (the “Project”). The first drill rig has arrived to site (pictured below) and has been mobilized to one of the priority infill and step-out drill targets from the 55 existing permits currently in place. Permit requests have been submitted for the balance of planned drill-holes (see press release dated January 10, 2017) and the Company anticipates receiving permits and ramping up to the full complement of (5-6) diamond drill rigs within approximately three weeks.
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Maple Gold’s President and CEO, Matthew Hornor, stated: “We are excited to break ground with the first drill-hole of the 2018 drilling campaign. Our technical team deserves a lot of credit for all of the hard work that preceded today’s milestone. We look forward to additional drill rigs arriving shortly and drill results this winter and spring."
Photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/ec8b10ea-0b65-453b-b3b2-b04c8ce7cc3a
http://www.globenewswire.com/NewsRoom/AttachmentNg/d63067db-ce33-4342-a600-e7fc0c91dcad
The figure above highlights the extent of syenite, or mixed syenite and basalt, in comparison with the existing resource areas as defined in the latest report by Micon in 2017. Note also the rough coincidence of syenite with a characteristic bimodal (high/low) magnetic response. The anomalous geophysical pattern combined with the extent of syenite, defines what Maple Gold views as the greater Resource Target Area, which will be the focus of step-out and infill drilling during the current campaign.
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 Mines. 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.
About Maple Gold:
Maple Gold is a well-funded gold exploration company focused on advancing a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 370 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 that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within 150km. Maple Gold has a significant drill campaign under way 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: +1 416.682.2674
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. 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 with respect to the Company’s opinions and beliefs, financial position, business strategy, plans for drilling and re-logging, characterisation of gold mineralisation, geological modelling, data integration, establishing high-quality inferred resource expansion targets, testing target areas, the Company’s goal to deliver significant value, drill campaigns, and plans and objectives of management for future properties and operations. 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.
