Maple Gold continues mapping, sampling at Douay
MAPLE GOLD Mines Ltd. has provided a general corporate update as the company enters the final quarter of 2018. Maple Gold Mines is currently completing a first pass regional mapping and sampling program in the outcrop-rich central one-third of the property to generate additional greenfield targets, while also working to integrate all of the new drill data from the 2018 campaign into updated sections, plans and 3-D models. Maple Gold Mines completed 22,593 total metres of drilling during the 2018 campaign (please see program summary press release dated Sept. 4, 2018), with approximately 16,300 metres focused within the resource area. This is the first drill campaign completed since assembling the new technical committee and exploration team approximately one year ago.
One focus for Maple Gold Mines’ technical team has been establishing cohesive 3-D geological and structural models that together will form the foundation for subsequent resource estimations and future drill targeting within the six-kilometre-by-twokilometre (approximately) known resource area. The new modelling work is under way at the site after a year of pouring through project data as well as logging select historical core and all of the new drill holes from the 2018 campaign. Maple Gold Mines has created, and is refining, a new set of interpreted geological/analytical cross-sections and, possibly for the first time, also the corresponding long sections, level plans and a digital 3-D model for the Douay deposit. An updated resource estimate integrating the new models and drill data from 2018 is expected to be initiated in the coming months (Q4 2018).
Fred Speidel, vice-president of exploration of Maple Gold Mines, commented, “We believe that our detailed and methodical approach to modelling the geology, structure and mineralization at Douay is a critical step, and one that will help pave the way for future exploration, resource optimization and development.”
Matthew Hornor, president and chief executive officer of Maple Gold Mines, commented: “At the corporate level, we have been strategically allocating our spending to focus resources on key milestones, while also reducing overheads by approximately 50 per cent as of July 1. We felt it was prudent to conserve capital to ensure the company maintains a comfortable financial position should weaker market conditions persist well into 2019. We are working towards an updated resource estimate and exploring potential partnerships with major gold miners as the industry enters another M&A [mergers and acquisitions] cycle.” Maple Gold Mines’ approach at the project level has included bringing the majority of exploration functions in house to ensure continuity in the company’s knowledge base, with the aim to fully apply best practice geoscience in all of the company’s exploration activities. Maple Gold Mines is committed to following the discovery model, with 20 per cent to 30 per cent of exploration and drilling budgets allocated toward new regional greenfield target areas. The current mapping and sampling program as well as planned induced polarization (IP) lines over greenfield target areas during the upcoming winter season are examples of the company’s property-wide exploration approach.
About Maple Gold Mines Ltd.
Maple Gold Mines is an advanced gold exploration company focused on defining a district-scale gold project in one of the world’s premier mining jurisdictions. The company’s 377-square-kilometre Douay gold project is located al ong the Casa Berardi deformation zone (55 kilometres of strike) within the prolific Abitibi greenstone belt in Northern Quebec, Canada. The project has an established gold resource that remains open in multiple directions.
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David W Broughton, Sean Charland, Jay Chmelauskas, B Matthew Hornor, Pierre Bruno Lebel, Janine North, Maurice Alan H Tagami
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