Maple Gold Reports New Drill Results from the Nika Zone, Including 42.5 Metres of 1.75 G/t Au
TSX VENTURE: MGM
Montreal, Quebec--(Newsfile Corp. - July 10, 2019) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report assay results from the four (4) drill-holes completed at the Nika Zone during this winter's campaign. These drill-holes build upon last year's 50m @ 1.77 g/t Au intercept in DO-18-218 (see press release of May 14, 2018) that helped establish a new zone of mineralisation not included in past resource estimates. This year's drilling included two aggressive (200 metre) step-out holes to test for further mineralisation up-dip and down-dip from last year's new discovery, a third hole to test the western continuity of the same discovery, and finally the deepening of a 2012 drill-hole (DO-12-105) approximately 250m to the west, which had ended in mineralisation with 21.1 g/t Au over the final 1.5 metres.
Maple Gold successfully deepened DO-12-105 (as DO-19-105X) by 114m, with the combined 2012 and 2019 intercept returning 42.5m averaging 1.75 g/t Au (uncapped) from approximately 320m vertical depth (465m downhole), including 8m averaging 2.86 g/t Au. Results from this hole should contribute additional ounces for the Nika Zone, as there is currently no conceptual pit in this area. This intercept, with its mixed style of mineralisation (syenite-basalt-alkaline gabbro-carbonatite), is interpreted to represent the western edge of the Nika Zone (see Figure 1), centered on DO-18-218, where mineralisation is largely syenite-hosted and geologically most similar to the Porphyry Zone.
Maple Gold's VP, Exploration, Fred Speidel, commented: "We are excited by these new results, in particular by those obtained with the lengthening of hole DO-19-105X, which serve to provide support for the western continuation of the Nika Zone to at least 250m west of the original 2018 intercept, and also provides further support for the Nika Zone being open to depth. This is the second straight drill campaign in which we have intersected very significant gold mineralisation in the Nika Zone, an area not included in past resource estimates or within existing conceptual pits. We expect further drilling to ultimately result in the connection of the Nika and Porphyry Zones."
Figure 1: Drill plan for the Nika Zone (green outline) on residual total field magnetic image. Green bars along drill-hole traces represent composited intervals with >0.25 g/t Au (base cut-off from Micon 2018). Nika Zone covers the interval between two existing (Micon 2018) conceptual pits to the ESE and WNW. Gold mineralisation is associated with more magnetic rocks (hotter colors).
Figure 2: Sample of strongly altered and pyritised basalt with syenite fragments in interval grading 9.74 g/t Au; field of view 47.6mm.
The DO-19-105X intercept is found at the western edge of the Nika Zone, about 250m west of DO-18-218, in mixed basalt and syenite (Fig. 2), but also includes carbonatite and the related alteration halo, as well as some highly unusual, carbonatite-related garnet-pyroxene porphyritic gabbros that have been noted and described previously in the Porphyry Zone.
Holes DO-19-255 and 257, drilled up-dip and down-dip of DO-18-218 respectively, indicate that similar mineralisation is present, particularly in DO-19-257 where a broad (>100m) mineralisation halo with variable grades, potentially open to depth, was intersected. Future follow up of the DO-18-218 intercept will focus on plunge continuity, i.e. at an angle to existing drilling, as the company believes this approach will better define the volume potential of the known higher grade shoots in the Nika Zone.
Hole DO-19-266 successfully confirmed the down dip extension and continuity of the broader halo of gold mineralisation found in hole DO-18-217, the 2019 hole cutting an upper zone with 18m of 0.84 g/t Au, including 8m of 1.30 g/t Au, and several lower zones including 4m of 1.37 g/t Au, 4m of 2.75 g/t Au and 3m of 2.93 g/t Au within a broader halo of over 75m at a cut-off of 0.1 g/t Au (see table 1 below).
Table 1: Highlighted Drill Intercepts from 2019 Drilling from the Nika Zone (4 holes total)
Notes: Intervals given as downhole lengths, with true estimated thicknesses varying from approximately 70-90% of downhole lengths. Porphyry Zone cappings levels (13 g/t Au) were used. All intervals use a 0.25 g/t Au cut-off, except for the broader (77m) interval in DO-19-266, which uses 0.1 g/t Au.
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 ALS 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: Click Here
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 ~355 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. 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.