Maple Gold Receives Permits and Ramps up Drilling at Douay
MONTREAL, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V:MGM) (OTCQB:MGMLF) (Frankfurt:M3G) is pleased to provide an update on the current drill campaign at the Douay Gold Project (“Douay”). Maple Gold has now received three (3) of the four (4) requested permits and anticipates receiving its final permit very shortly. Two diamond core drills (“DDH”) are now testing infill and step-out holes and a third drill rig has arrived to site to begin testing extension targets in the Porphyry to NW Zone gap (see Figure 1).
| ||||||||||
The Company has initiated property-wide drill site preparation for the recently permitted sites and an additional two DDH rigs will be mobilized to the project as soon as initial sites are ready. One of the new permits covers greenfields syenite and VMS targets that start ~4 km NW of the Resource Area and continue for 5 km along the northern strand of the Casa Berardi Deformation Zone (see Figure 1).
Maple Gold’s President & CEO, Matthew Hornor, stated: “We are ramping up toward the full complement of drills and weather-permitting should still reach our 25,000 metre target for this winter’s campaign. This is an exciting time for our team and our shareholders as we begin to test numerous drill targets simultaneously at Douay.”
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/90b353e0-a262-4f46-9cbb-63301ed6bc7b
A final DDH permit is pending that covers additional drill sites within the Resource Area, as well as the compelling 6 km by 1 km NE Syenite Target (see press releases November 29, 2017 and January 10, 2018). The NE Syenite Target intrusion is not present on government maps and was identified by evaluating results from the limited amount of historical top-of-bedrock RC drilling that was previously completed at Douay in the 1980’s. Maple Gold geologists believe this approach will help the Company generate numerous new target areas within the 55 km of strike along the Casa Berardi Deformation Zone. All permits for the Company’s planned RC top-of-bedrock drilling have now been received. Site preparation is already underway and the 3,000+ metres of RC drilling is expected to commence within approximately 10 days.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e5fd05d0-ec58-4893-9689-e630c002bd31
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.
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 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: +1 416.306.8124
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. 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 mineral resource estimate, including statements regarding contained ounces, optimal cut-off grade and average gold grade, as well as statements regarding upcoming exploration programs. 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.