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or Name

Maple Gold Mines Ltd
Symbol MGM
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Close 2022-07-18 C$ 0.165
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Maple Gold completes EM survey at Douay, Joutel JV

2022-07-19 12:09 ET - News Release

Mr. Matthew Hornor reports


Maple Gold Mines Ltd.'s 50/50 joint venture between the company and Agnico Eagle Mines Ltd. has completed a regional airborne magnetic and electromagnetic survey to support exploration drill targeting across 278 square kilometres of JV-controlled ground, including the western half of the Douay gold project as well as the entire Joutel gold project in Quebec, Canada. Results from the new Mag-EM survey were analyzed alongside existing geological and geophysical data to identify anomalies of interest throughout the survey area that are prospective for pyritic gold and volcanogenic massive sulphide styles of mineralization.

Fred Speidel, vice-president of exploration of Maple Gold, stated: "A key pillar of our strategy is to focus drilling and exploration work in areas that exhibit potential for additional larger and higher-grade mineralized zones at Douay, while also testing the resource potential that remains along and beyond the entire past-producing Eagle-Telbel mine trend at Joutel. We are already drilling stepout and deep targets at both projects and these new Mag-EM survey results point to additional targets not only in the Eagle-Telbel mine area and along its lateral extensions, but also on the greater Douay property, where the company previously identified VMS targets via prospecting in 2018. We look forward to testing this next set of targets in upcoming JV drill campaigns."

Interpretation and summary of results

The JV is currently ranking and prioritizing at least four conductive target areas from the new Mag-EM survey for future drill testing:

  1. Joutel targets include several EM anomalies within approximately two to three km of the historical Eagle, Telbel and Eagle West deposits that have very limited drilling. These deposits appear as discrete approximately 250-metre diameter conductive zones aligned along a well-defined northwest trend. Known gold mineralization at Joutel is found along a series of subparallel structures over a strike length of at least six km along the Harricana/Joutel deformation zones associated with the Casa Berardi south fault. The survey indicates possible similar structures extending more than nine km further to the east in this area.
  2. Southeast targets occur along the largely undrilled Douay-Joutel property boundary, within the Cartwright Hills Group basalts that are prospective for a similar style of mineralization to the Douay West and 531 zones at Douay.
  3. Central targets at Douay, to the west of the current mineral resource area are sparsely drilled and partly coincide and extend beyond volcanic massive sulphide copper-zinc-gold anomalies defined during the company's prospecting work in 2018 (see news from Nov. 14, 2018).
  4. Northwest targets at Douay are associated with an intrusive-like magnetic anomaly that is over two km across. This target area is sparsely drilled and straddles the interpreted position of the Casa Berardi north fault.

The Mag-EM survey utilized Geotech Ltd.'s VTEMTM plus time domain EM system with a horizontal magnetic gradiometer configuration, providing a maximum depth of investigation ranging from 250 to 700 m that is significantly greater than the maximum depth of about 150 m from historical surveys conducted in this area. It consisted of 2,029 line km flown using a 150-metre line spacing and covered a 278-square-kilometre area including the western half of Douay and all of Joutel.

Numerous conductive and magnetic anomalies were identified. Strong magnetic responses were noted, with a measured range of more than 5,700 nT, including two large (greater than five-kilometre-by-eight-kilometre), intrusion-like, circular to elliptical anomalies along the northern and northeastern edges of the surveyed block.

Electromagnetically, the block is characterized as being largely resistive with sparse, moderate to highly conductive, east-to-west to west-northwest-east-southeast linear trends occurring throughout, but mainly focused in the eastern half of the surveyed area. The western part of the block features a mainly larger area (greater than one km by two km) with east-to-west elongate conductive responses, some of which may be lithologic. The eastern half of the block features a mix of numerous short strike length (less than 150 to 500 m), discrete deeper conductor axes, mainly located in the northern part. Most EM conductors either closely parallel or coincide with magnetic high horizons. Apparent resistivities range from lows of less than two to 100 ohms per metre to highs of 800 to 4,500 ohm/m.

Qualified person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Mr. Speidel, MSc, PGeo, vice-president of 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 press release through his direct participation in the work.

About Maple Gold Mines Ltd.

Maple Gold is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines to jointly advance the district-scale Douay and Joutel gold projects located in Quebec's prolific Abitibi greenstone gold belt. The projects benefit from exceptional infrastructure access and boast approximately 400 square km of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the company holds an exclusive option to acquire 100 per cent of the Eagle mine property.

The district-scale property package also hosts a significant number of regional exploration targets covering 55 km of strike length along the Casa Berardi deformation zone that are yet to be drill tested, making the project ripe for new gold and polymetallic discoveries. The company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi.

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