Maple Gold Targets High-grade Extension at SE Edge of Porphyry Zone
MONTREAL, March 08, 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 Company received its fourth and final permit and is now fully permitted for all drill sites and ramping up significantly with five drill rigs now on site. The Douay Gold Project hosts several known higher-grade “plums” with variable diameters, with limited follow-up drilling within 100-250 metres in several directions in some cases, and therefore these areas represent a significant opportunity to add higher-grade resources to the deposit.
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Maple Gold is currently drilling one of these high-priority extension targets on the southeast edge of the Porphyry Zone with a fence of three (3) drill-holes that will aim to extend that mineralization beyond the current resource model. This drilling will build on previous intercepts of 4.08 g/t Au (uncut) over 28m from 82m, including 8.4 g/t Au over 11m in hole DO-11-61, as well as 2.33 g/t Au (uncut) over 24.4m from 120.4m in hole D93-16 (all lengths are down the hole).
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Figure 1: Section 708200E showing high grade intersections mentioned above.
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Figure 2: Section 708300E (100 metres to the east), showing absence of existing drill-holes and fence of three 2018 holes currently being drilled to test for ESE continuity of the high-grade mineralization at the SE edge of the Porphyry Zone.
Maple Gold’s President & CEO, Matthew Hornor, stated: “Our team spent significant time generating drill targets during the back half of 2017. Now that we received our final permit last week, we are ramping up and moving drill rigs to our most exciting targets. Drill results will be announced in batches as drilling is completed on specific target areas so our shareholders can follow the progress of our various objectives.”
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
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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. 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.