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Maple Gold Finalizes Drilling Plans and Prepares to Commence Winter Drilling Campaign(January 10, 2018)
MONTREAL, Jan. 10, 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 exploration activities and the upcoming winter drilling campaign. The Company’s team of eight geologists have now re-logged over 18,000 metres (m) from selected higher-grade sections throughout the Resource Areas, and are preparing for the 25,000 – 30,000m drilling program that will start on or about January 15. The updated camp, capable of accommodating up to 75 people, is in place and the first drilling contract has been signed with equipment being mobilized to site.
Maple Gold’s technical team continues to evaluate and modify the existing geologic and resource models, incorporating the 2017 drilling (~23,000m), new results from previously un-assayed drill-core in the Resource Area and applying new knowledge established from all of the database-related work completed during Q4 of 2017. The 25,000 – 30,000m winter drilling program will build on the 2017 campaign and includes plans for approximately 60% of the meterage for step-out and infill drilling (Resource Area), with the remaining 40% allocated towards greenfields exploration and new discovery drilling. More specifically, the objectives are:
Greenfields & New Discovery Drilling:
- Test new discovery targets beyond the known Resource Area. This drilling will focus on the NE Syenite Target (10 holes, see press release Nov 29, 2017), additional Syenite Targets identified along the Casa Berardi Fault Zone to the NW of the current Resource Area (4 holes) and also a number of undrilled or insufficiently drilled EM conductors to the west of the Resource Area (9 holes).
- Define new exploration targets in peripheral greenfields areas. This will be accomplished with approximately 100 shallow “Top-of-Bedrock/Overburden” type holes for a total of ~3,500m, mainly in the more remote and unexplored western portion of the property. The most promising new target areas generated from the top-of-bedrock drilling will be drill tested in subsequent drilling campaigns.
Resource Area Drilling:
- Provide support for the Company’s concept of a single unified intrusive-hydrothermal system, and eventually, pit, encompassing all of the existing Resource Zones, with over 25 step-out holes.
- Test continuity of existing higher-grade zones, including previously mentioned clusters of significant gold accumulations, as well as the possibility of additional higher-grade zones within the current Resource Area, with over 20 infill holes.
The distribution of the planned drill-holes is shown below in figures 1 and 2.
Additional Drill-Program Details:
Permit requests have been submitted for a total of 114 diamond drill-holes (total of about 44,600m), about 60% of which will be drilled in winter 2018, and 100 top-of-bedrock RC drill-holes (total about 3,500m) the majority of which will be drilled in 2018. The additional diamond drill sites provide for flexibility in the current campaign and follow-up drilling in subsequent campaigns. Initial diamond drilling will focus on existing permitted sites in the east quarter of the Porphyry Zone, where the Company has planned at least 10 priority infill and step-out drill-holes.
Once additional permits are received, expected later this month or in early February, access and drill site preparation will be completed and overburden drilling will commence. At the same time, the diamond-drilling program will be ramped up to the full complement of (5-6) diamond drill rigs.
The property-scale Remote Spectral Geology survey and interpretation will also be completed this month; this report will help focus our summer 2018 surface exploration work in the central part of the property.
Qualified Person & Resource Estimate Disclosure:
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.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may also be materially affected by other relevant factors or issues. The mineral resource estimate has been prepared without reference to surface rights or the presence of overlying public infrastructure. There has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
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 km˛ 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 planned during the 2018 winter season 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 the Company’s website at www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
B. Matthew Hornor, President & CEO
For Further Information, Please Contact:
Mr. Joness Lang
VP, Corporate Development
Office: +1 416.682.2674
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.