Maple Gold Receives Permits and Begins Final Preparations and Mobilization for Drill Campaign
Montreal, Quebec--(Newsfile Corp. - March 20, 2019) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") has received permits for drill roads and drill pads and is now cleared to commence a planned 5,000 - 6,000 metre drill program. New mineralized zones defined during 2018 drilling at Nika, and in several areas with higher-than-expected grade intercepts at the Porphyry zone, both offer significant opportunities to add to the deposit resource base at higher-than-deposit average grades. This focused winter drilling campaign will also include two drill-holes more than 1km south of the resource area, where several narrow intervals of high-grade (up to 17.5 g/t Au) contact-style mineralisation similar to that at the Porphyry zone were intersected in a historical hole (see press release February 20, 2019).
The Company has selected two drill contractors, Forage Orbit Garant Drilling ("Orbit Garant"), a large locally-based and internationally active drilling company, and Forage Pikogan, a smaller local company with majority First-Nations ownership. Initial mobilization and drill preparations are now underway, with equipment for Orbit Garant's first drill rig having just arrived at the Douay Project today. Drilling is expected to commence at the Nika Zone in approximately one week to test the up-dip and down-dip extensions of last year's new discovery (see press release May 14, 2018).
Maple Gold's VP, Exploration, Fred Speidel, commented: "This is a very exciting time for our technical team as we drill some of our high priority holes after nearly 18 months on the Project, with the benefit of more data, knowledge and new models in place. We have significantly improved targeting ability thanks to our 3D model, and are focused on testing new exploration targets and adding quality ounces to the resource base. An updated resource estimate is underway with RPA and we anticipate initial results early in Q2."
Click here to watch brief video highlighting top-priority drill-hole locations and the Company's new 3D model.
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 an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world's premier mining jurisdictions. The Company's ~392 km² Douay Gold Project is located along the Casa Berardi Deformation Zone (55 km of strike) within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project benefits from excellent infrastructure and has an established gold resource3 that remains open in multiple directions. For more information please visit 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
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, including statements about the prospective mineral potential of the Porphyry Zone, the potential for significant mineralisation 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43526