Maple Gold prepares for IP surveys at Douay

2020-06-30 10:34 ET – News Release

Mr. Matthew Hornor reports

MAPLE GOLD AIMS TO DETAIL NEW DISCOVERY TARGETS WITH IP SURVEYS AT DOUAY

Maple Gold Mines Ltd. has initiated line cutting at site, with new induced polarization (IP) surveys set to begin shortly. In addition to the Company’s more advanced exploration work within the western part of the resource area, where the Company believes it can define a near-surface higher grade subset of the total Douay resource with compelling economic characteristics, Maple Gold also continues to evaluate and advance the highest priority discovery targets on the property. This dual focus is consistent with the Company’s integrated exploration strategy.

Modern IP surveys have proven to be a very effective targeting tool for Maple Gold, as today’s IP technology can detect causative sources to depths of more than 400 metres, whereas older IP technologies would have struggled to produce reliable data beyond about 200 metres depth, in particular in the presence of near-surface conductive overburden. The summer 2020 program is designed to expand existing anomalies and define new ones in the following areas:

  • NE Target: Regional discovery target with geological context comparable to the Vezza mine and a series of chargeability anomalies over a 3km trend including a drill-ready target the Company plans to drill later this year. Current IP will aim to detail northern extent of anomalies.
  • 531 Zone: Results from the winter 2020 3D IP survey in this area supported target concepts, i.e. an ESE-trending sulfide system open to the WNW, ESE and at depth. Current IP will aim to detail the lateral extent of the existing chargeability anomaly, with particular interest to the ESE where the anomaly remains open with a drilling gap of ~1km.
  • South Target: Large 2.3km by 0.4km target on the south side of the resource area, where a large favourable magnetic signature with very limited drilling is present. The western part of this target was designated as highly prospective in a past Artificial Intelligence study. Current IP will aim to establish drill-ready targets, which could be tested this summer/fall given all-season gravel road access.
  • Main Zone W Extension: The winter 2020 3D IP survey defined the eastern edge of an intriguing new chargeability anomaly of unknown extent along trend from the Main Zone and the current IP survey should detail the full extent of this target. This anomaly appears to be situated in an area prospective for higher grade Main Zone or Vezza-style mineralization, with very large (600m to 800m) drilling gaps to the north and northwest.

Maple Gold’s VP, Exploration, Fred Speidel, commented: “The Douay Gold Project continues to have tremendous exploration potential and modern geophysical surveys have already helped us define very compelling regional discovery targets several kilometers away from the known resource. We are also very intrigued by the potential for higher-grade gold lenses along the northern flank of the resource area (e.g. Main Zone W Target) and the target areas we are pursuing along the southern margin of the 531 Zone, where significant higher grade intercepts were obtained in 2019. A new discovery at any one of these largely undrilled target areas would be a very exciting development for us.”

The single shallow drillhole within the NE target area provides geological and geochemical support for the chargeability anomaly, in that results in that hole (silicified sedimentary rocks with disseminated pyrite and anomalous gold) are consistent with a more distal expression of the higher-grade Vezza-style mineralization being sought.

As any one of the interpreted structures shown in the figures could potentially host higher grade Vezza (past production about ~0.5Moz averaging just under 6 g/t Au) or Eagle-Telbel (past production of 1.15Moz Au averaging 6.15 g/t Au) styles of gold mineralization, the Company is particularly interested in targets along or near such structures. Of particular note (see press release of May 6, 2020) is the lithotectonic boundary that links the Main Zone, Main Zone W target, and Central Zone, extending along the entire northern flank of the currently known Douay deposit, where numerous drilling gaps exist.

The Company is intrigued by the scale of the South Target on the south side of the currently known resource area; results of a review of limited historical drillholes in these areas are permissive of continuation of the known Douay intrusive-hydrothermal system further to the south.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s Douay Property.

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 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 approximately 355-square-kilometre 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 resource that remains open in multiple directions.

We seek Safe Harbor.

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