Maple Gold Mines Ltd. [MGM-TSXV; MGMLF-OTCQB; M3G-FSE] reported results from the second hole of the recently completed 10,270-metre winter drill campaign at the Douay gold project 50 km southwest of Matagami, Quebec. Douay is a 50/50 joint venture with Agnico Eagle Mines Ltd. [AEM-TSX, NYSE].
Drill hole DO-21-282X at the Nika Zone intersected 132 metres of 1.58 g/t gold (from 185.5 metres downhole), including 100.3 metres of 1.76 g/t gold (from 185.5 metres downhole) and 9.6 metres of 5.49 g/t gold (from 247.6 metres downhole). This result was within a broader envelope of mineralization that returned 195 metres of 1.28 g/t gold (from 152 metres downhole).
DO-21-282X represents by far the best intercept drilled at the Nika Zone to date.
Results are expected to expand existing resources at the Nika Zone, both in-pit in the area up-dip of hole DO-21-282X and below-pit as approximately 35% of the intersection is located below the 2019 RPA NI43-101 Resource Estimate conceptual pit floor.
Matthew Hornor, President and CEO of Maple Gold, stated, “We are thrilled with these results from the JV’s maiden drill campaign. Hole DO-21-282X returned one of the best grade-thickness intercepts ever encountered at Douay and is a testament to what a collaborative approach to exploration can uncover. We look forward to reporting more assays in the coming months from additional step-out and discovery drill holes completed this winter.”
Fred Speidel, VP Exploration of Maple Gold, added, “This 132-metre interval at Hole DO-21-282X, which contains nearly continuous gold mineralization, is substantially longer than the original 50-metre discovery hole we intersected at Nika in 2018. Furthermore, the zone remains open in multiple directions including up-dip at shallower depth; below the current conceptual pit floor; and further along trend both to the northwest and southeast, where similar structural blocks remain undrilled. This result supports our belief that multiple existing zones at Douay host more continuous mineralization than what has been discovered to date and reinforces the expansion potential we see across the Project and land package.”