Maple Gold drills 1 metre of 334 g/t gold at Douay project, Quebec

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Maple Gold Mines Ltd. [MGM-TSXV; MGMLF-OTCQB; M3G-FSE] reported assays from the final nine holes completed during the 10,217-metre winter drill campaign at the Douay gold project, Quebec. Douay is a 50/50 joint venture with Agnico Eagle Mines Ltd. [AEM-TSX, NYSE].

Drill hole DO-21-295 intersected 334.0 g/t gold over 1.0 metre (from 57.0 m downhole) within the western portion of the Porphyry zone, representing one of the highest-grade intercepts ever encountered at Douay.

Hole DO-21-295 also intersected 72.7 g/t gold over 0.7 metres (from 358.0 m downhole), beyond the northern extent of the of the 2019 RPA NI 43-101 resource estimate Porphyry zone conceptual pit.

At the Main zone, DO-21-304 intersected 1.5 g/t gold over 15.0 metres (from 428.0 m downhole), one of the better sediment-hosted intercepts reported to date. In addition, DO-21-306 intersected 4.0 g/t gold over 5.0 metres (from 143.0 m downhole), within a broader and more variable grade envelope that averaged 1.6 g/t over 15.0 metres. Additional multi-gram gold intercepts were obtained from other drill holes in this area.

The JV’s maiden drill campaign returned three of the top five intercepts ever reported at Douay in terms of gold accumulation (grade multiplied by thickness), validating the company’s targeting methodology.

Fred Speidel, vice-president, exploration, Maple Gold, stated: “Encountering multiple bonanza-grade gold zones flanking either side of the Casa Berardi North fault highlights the significant exploration potential for the sparsely drilled northern flank of the Porphyry zone. The deeper bonanza-grade gold mineralization in hole DO-21-295 remains open to the east, with just a single drill hole over more than 600 metres, which provides a compelling exploration target for follow-up drilling. We are excited to build upon the impressive results from the JV’s maiden drill campaign, with drilling expected to resume in the Nika and 531 zones in Q4 2021.”

Maple Gold Mines has now reported all assay results from the winter 2021 drill campaign. An updated Douay mineral resource estimate, which will include more than 19,000 metres of additional drilling since the 2019 mineral resource estimate, including over 15,000 metres within the current resource area, is expected to be completed in Q4 2021.

These additional new bonanza-grade (greater than 34 g/t Au) intercepts in DO-21-295 underscore the potential for two distinct styles of mineralization at Douay. First, more typical lower-grade disseminated gold mineralization closely associated with an alkaline intrusive complex; and, second, a structurally controlled, locally bonanza-grade overprint associated with major deformation zones that can be found in a variety of rock types.

Maple Gold also received assays for multiple drill holes within the Main zone, where mineralized zones are relatively narrow, subvertical and typically higher than deposit-average grade.

The DO-21-304 results confirm the continuity of Main zone mineralization below the base of the current 2019 RPA conceptual pit. This may allow extending the underground resource wireframe to below the hole 70556 intercept, which is not currently included in the resource estimation due to broad spacing between drill holes. The current Main zone conceptual pit extends to a maximum depth of 145 metres, with known mineralization now extending to a depth of over 450 metres.

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