Maple Gold Mines drills 6.5 g/t gold over 1.2 metres at Eagle mine project, Quebec
Maple Gold Mines Ltd. [MGM-TSXV; MGMLF-OTCQB; M3G-FSE] reported results from the final 20% of assays that were received from the previously completed 14,720 metres of drilling at the 100%-controlled Eagle mine property, Quebec.
The company is also pleased to report that more than 7,000 metres have now been completed (6,000 m planned) at the Telbel mine area of the Joutel project, which is held by a 50/50 joint venture between the company and Agnico Eagle Gold Mines Ltd. [AEM-TSX, NYSE].
The final batch of assays received from completed drilling at Eagle correspond to approximately 3,000 metres of the 14,720 metres drilled to-date. The results continue to demonstrate continuity of mineralization and the potential significance of the multiple horizons/splays to the northwest of the former Eagle mine.
Highlights: EM-22-008W intersected 6.2 g/t gold over 2.0 metres in the South Mine Horizon (SMH) and 4.2 g/t gold over 3.9 metres in sediments further downhole.
EM-22-006W1 intersected multiple intercepts including 6.5 g/t gold over 1.2 metres and 2.0 g/t gold over 3.0 metres in the SMH and 2.3 g/t Au over 3.0 m at the microgabbro/Harricana sediment contact further downhole.
EM-22-006W4 intersected 4.0 g/t gold over 0.7 metres within a broader 1.1 g/t gold over 14.2 metres intercept within the SMH.
EM-22-017A intersected 2.9 g/t gold over 2.0 metres and additional lower grade over broader near-surface intervals (1.0 g/t gold over 15.5 metres from 93 metres downhole).
“We have come along way since first consolidating the Joutel ground into our JV property package,” stated Matthew Hornor, CEO of Maple Gold. “All of our exploration and drilling work along the past-producing Eagle-Telbel mine trend is designed with the aim of defining high-grade zones of gold mineralization and additional mineral resources to complement the established potentially bulk-mineable resource present at Douay. Our first year of drilling at Eagle has more than covered our exploration spending commitments to earn a 100% interest and we are now in position to finalize our compilation and model updates to support focused follow-up drilling in areas we believe have the most promise to deliver additional high-quality ounces.”
The Eagle-Telbel Mine trend produced 1.1 Moz at 6.5 g/t Au from 1974 – 1993, during a period when the price of gold averaged approximately US$350/oz. During the first year of the JV (2021), all historical mining, stope and drilling data was digitized to underpin a new 3D geological model. The company signed an option agreement to acquire a 100% interest in the Eagle Mine Property and has since completed more than 21,500 metres of drilling across the 4 km long Eagle-Telbel Mine trend, with 14,720 metres at Eagle and more than 7,000 metres (assays pending) of JV drilling at Telbel.
The company’s drilling to-date at Eagle has served to confirm that gold mineralization is not limited to a narrow stratigraphic interval (Eagle-Telbel Mine Horizon) but instead covers a significantly broader stratigraphic interval of over 100 metres straddling the Harricana Deformation Zone. Drill core observations also support the company’s concept of a significant structural component to gold mineralization in the form of an orogenic gold overprint.
Maple Gold Mines is in a 50/50 joint venture with Agnico Eagle Mines to jointly advance the district-scale Douay and Joutel gold projects located in Quebec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the company holds an exclusive option to acquire 100% of the Eagle Mine property.