Maple Gold con­tin­ues map­ping, sam­pling at Douay

Stockwatch Daily - - MINES & METALS - Mr. Matthew Hornor re­ports

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.

We seek Safe Har­bor.

David W Broughton, Sean Char­land, Jay Ch­me­lauskas, B Matthew Hornor, Pierre Bruno Lebel, Ja­nine North, Mau­rice Alan H Tagami

(MGM) Shares: 208,468,772

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