Gentile ups stake in Maple Gold Mines to 8.4%
Maple Gold Mines Ltd. [MGM-TSXV, MGMLF-OTCQB, M3G-FSE] said it has received $2.3 million from the early exercise of warrants by strategic investor Michael Gentile. The company said Gentile’s ownership interest in the company has increased to 8.4% from 4.7% on an undiluted basis. The warrants had an exercise price of 85 cents per common share and were primarily issued on September 9,2025 with an expiry date of September 9, 2028.
Gentile is a former money manager and a strategic investor in the junior mining sector with holdings in companies such as Group Eleven Resources Corp. [ZNG-TSXV, GRLVF-OTCQB, 3GE-FRA] and Big Ridge Gold Corp. [BRAU-TSXV].
Maple Gold shares advanced on the news, rising 4.5% or $0.09 to $2.09. the shares currently trade in a 52-week range of $3.18 and 50 cents.
Maple Gold is a well-funded exploration company with a focus on advancing its 100%-owned, district scale Douay/Joutel gold project, which is located on the Abitibi Greenstone gold belt in Quebec. Covering approximately 481 square kilometres of prospective ground, the project includes an established gold mineral resource at Douay with significant expansion potential and the past-producing Telbel and Eagle West mines at Joutel. In addition, the company holds an option to acquire 100% of the Eagle mine property, a key part of the Joutel mining complex.
The company recently announced assay results from seven drill holes completed during its ongoing, fully-funded 30,000-metre winter drill campaign at Douay/Joutel. The drill program is designed to test shallow areas between and along strike from the historical Eagle and Telbel gold mines at Joutel. These holes targeted interpreted zones of high-grade gold mineralization projected up plunge towards surface from previously mined-out stopes within the Main Iron Carbonate Horizon (MICH). The Eagle, Eagle West and Telbel gold mines produced 1.1 million ounces of gold at an average grade of 6.5 g/t from the MICH between 1974 and 1993. Three holes were drilled 200 to 300 metres southeast of the Telbel Mine shaft. Results include 8.5 g/t gold over 8.0 metres in hole DDH JO-25-05, including 17.5 g/t gold over 1.5 metres and 40.8 g/t gold over 0.5 metres.
The company said it has completed 39 holes or 17,000 metres of the ongoing 30,000-metre program. Concurrent development initiatives are anticipated throughout 2026 to advance and de-risk Douay/Joutel, including an updated mineral resource estimate at Douay and a maiden Joutel resource estimate expected in the first half of 2026.
At total exploration budget of $13.9 million has been approved for 2026.
The company has also approved an inaugural 2,000 metre diamond drill program at its Morris VMS project, east of Matagami, Que., expected to be completed in the first half of 2026, to evaluate prospective stratigraphy known to host VMS deposits and mines in the Matagami mining camp.