Maple Gold Completes 22,606 metres of drilling at the Douay Gold Project
MONTREAL, May 22, 2018 (GLOBE NEWSWIRE) -- Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V:MGM) (OTCQB:MGMLF) (Frankfurt:M3G) has concluded its 2018 winter drilling campaign after drilling 21,122 metres of diamond drilling from 52 holes and 1,484 metres from 57 short top-of-bedrock holes for a total of 22,606 metres. Core sawing and sampling is continuing at the Douay Project site and the Company expects to continue releasing drill results through May, June and July. The Company has released initial results from two target areas within the 6.1 km by 1.8 km Resource Area, including the new Nika Gold Zones in the NW Gap Area and initial results from the south-central Porphyry Zone.
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The final distribution of drill-hole collars (including the short top-of-bedrock RC drilling) was approximately 40% within and surrounding the Resource Area and 60% for greenfields drilling. However, approximately 70% of total meterage was near the known Resource Area. More specifically, the breakdown of drilling by holes and meterage was as follows (reference Figure 1):
Porphyry and Central Zones infill/step-out: 29 drill-holes for 11,735 metres (see press release May 2, 2018 for initial results, additional assays pending)
NW Zone and NW Gap Area (including nearby step-outs): 11 drill-holes for 4,528 metres (see press releases April 23, 2018 and May 14, 2018, additional assays pending)
NW Syenite and EM conductor targets (greenfields): 5 drill-holes for 1,991 metres (assays pending)
NE Syenite Target (greenfields): 7 drill-holes for 2,869 metres (assays pending)
RC top-of-bedrock drilling: 57 drill-holes along western and south-central greenfields target areas for 1,484 metres (assays pending)
Once all assays have been received, the Company’s geological, structural and mineralization model will be updated. It is also expected that the summer mapping program will begin in early June in the central part of the property; this work will focus on outcrop areas with coincident structural, Remote Spectral Geology, and airborne radiometric and magnetic targets.
Figure 1: Distribution of 2018 drill-holes
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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 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: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
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 this prolific mining district. Maple Gold is now completing 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
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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.
