Maple Gold targets New Discovery with diamond drilling now underway at the NE Syenite Target
MONTREAL, March 14, 2018 (GLOBE NEWSWIRE) -- Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V:MGM) (OTCQB:MGMLF) (Frankfurt:M3G) is pleased to announce that a drill rig has arrived and is now turning at the NE Syenite Target, where the Company plans to complete approximately 10 drill-holes during the current campaign. The virtually untested NE Syenite Target includes the same host rocks as much of the current resource area and covers an area approximately the same size (6 km by ~2 km).
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The syenite to the NE of the resource area was not documented on government geological maps. However, previous work from past operators at the Douay Gold Project included a top-of-bedrock drilling program in the NE Syenite Target area back in the 1980s. The results of this program along with a diamond drill-hole from 1989 helped define this high-priority target area (see Target Details section) approximately 2.5 km to the northeast of the resource area (see Figure 1).
Maple Gold’s President & CEO, Matthew Hornor, stated: “Starting the drilling at the NE Syenite target has been something we’ve all been highly anticipating. This is a totally new area on the project with a very intriguing greenfields target. We appreciate the additional risk that goes with greenfields drilling, but we are following the discovery model and the magnitude of this target area and potential impact on future resources makes the potential reward very compelling.”
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Figure 1: Magnitude of NE Syenite Target vs Douay Resource Area. Note position of initial hole DO-18-220. Geological base map shows location of both syenitic intrusive complexes within Casa Berardi Tectonic Zone.
NE Syenite Target Details
In 1989, about 15 shallow “top-of-bedrock” RC holes were drilled in the general NE Syenite area. This appears to have been followed by a north-south fence of two diamond drill holes completed in the same year by Gowest Amalgamated Resources. The northernmost hole, G-89-1, cut 148m of mafic tuff and syenite, i.e. very similar geology to parts of Maple Gold’s current Resource Area.
Only five (5) samples were taken in these two holes. Maple Gold believes that the lack of sampling in the 1989 drill holes may reflect a lack of understanding of intrusive-related gold systems at that time, as this style of mineralization was really only defined in the 1990s. At the time of drilling in 1989, most companies were looking for high-grade orogenic gold systems (shear zone hosted gold-quartz veins). Drilling has now commenced at the NE Syenite Target (pictured), with approximately 10 drill-holes planned for this virtually untested target.
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Pictured: Drill-rig at southern edge of the 6km long NE Syenite Target (see fig. 1)
Maple Gold also recently began its own campaign of “top-of-bedrock” drilling to explore for additional syenitic intrusive complexes in the western part of the property; new target areas generated from this work are expected to be diamond drilled in subsequent drill campaigns.
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.