Maple Gold Mines expands Douay/Joutel Property and updates winter drill program, Quebec
Maple Gold Mines Ltd. [TSXV: MGM; OTCQB: MGMLF; FSE: M3G] has staked an additional 128 mining claims totaling 7,175 hectares (72 km2) contiguous with the northern boundary of its 100%-owned Douay Gold Project and Joutel Gold Project located along the Casa Berardi-Douay Gold Trend in Québec, Canada.
The newly acquired claims expand the company’s Douay/Joutel land holdings by ~17% within prospective Taibi Group sedimentary rocks. The Taibi Group represents a compelling new exploration target area for sediment-hosted gold deposits along a major lithotectonic boundary similar to the Casa Berardi and Canadian Malartic gold deposits.
The company also reported that its fully funded, 10,000-metre 2025 winter drill campaign at Douay has been increased to 12,000 metres following recent positive drill results in the Nika Zone. In addition, based on the company’s Quality Assurance and Quality Control protocols, 24 higher-grade samples from drill hole DO-25-338 that were previously reported using traditional fire assay with gravimetric finish were re-run using screen metallics and returned 2% to 5% higher gold values.
The company also announced that its Board of Directors has approved the issuance of annual equity incentive plan grants to certain employees, officers, directors and consultants.
Maple Gold staked an additional 128 mining claims totaling 7,175 hectares (72 km2) in late December 2024 and early January 2025, adding ~17% to the size of the Property and bringing the Company’s total land position at Douay/Joutel to 905 mining claims totaling 48,146 hectares (481 km2).
The newly acquired claims cover Taibi Group sedimentary rocks (included folded banded iron formations) immediately north of the regional gold-bearing Casa Berardi Deformation Zone (CBDZ), the northwestern projection of the Douay Deformation Zone (DDZ), which bounds the current Douay mineral resource, and the main Douay claim block.
The Archean-age Taibi Group has potential to host large-scale sedimentary-hosted lode gold deposits similar to the Casa Berardi Mine (operated by Hecla Mining Company) located ~80 km to the northwest of Douay/Joutel, the Canadian Malartic Complex (operated by Agnico Eagle Mines Limited) located ~155 km to the south of Douay/Joutel, and the past-producing, high-grade Vezza Mine located ~12 km to the east of Douay/Joutel.
“We are excited to have secured additional mining claims within the prospective yet largely untested structural-stratigraphic corridor that hosts Douay and similar nearby deposits,” stated Kiran Patankar, President and CEO. “Our regional staking program was guided by a new, robust 3D model integrating updated geological, geochemical, geophysical and structural data, which has already contributed to recent drilling success at Douay. This strategic land expansion north of Douay provides potential for sediment-hosted gold deposits along a major lithotectonic boundary and further enhances the Company’s foothold along the favorable Casa Berardi-Douay Gold Trend.”
The ongoing Program has been increased from 10,000 metres to 12,000 metres with two diamond drill rigs currently completing follow-up testing near drill hole DO-25-338 in the Nika Zone, which intersected 2.05 g/t gold) over 108.6 metres, including 3.05 g/t gold over 55.8 metres, and including 4.93 g/t gold over 17 metres.
At the time of writing of this news release, the Company has completed approximately 75% of the planned 12,000 m at Douay and expects to complete the Program within budget by the end of May 2025. Additional assay results will be released on a periodic basis over the coming
Under the company’s Equity Incentive Plan of December 17, 2020, as amended, and TSX Venture Exchange policies, Maple Gold’s Board of Directors has approved the annual grant of stock options, Restricted Share Units (RSUs) and Deferred Share Units (DSUs) to certain employees, officers, directors and consultants.
The company granted Options to purchase an aggregate of 7,100,000 common shares of the company (each, a Common Share), with an exercise price of $0.085 per Common Share. The Options will vest in three equal tranches over 24 months. Once vested, each Option is exercisable into one Common Share for five years from the date of the grant.
The company also granted a total of 2,650,000 RSUs and 750,000 DSUs. The RSUs will vest in three equal tranches over a 36-month period. Once vested, each RSU and DSU entitles the holder to receive one Common Share (or its cash equivalent, or a combination thereof), net of applicable withholdings. DSUs may only be exercised once a director ceases to serve on the company’s Board of Directors.
The Douay/Joutel Gold Project is located adjacent to Highway 109 in the heart of Québec’s northern Abitibi Greenstone Belt. This large, 100%-owned land package includes the flagship Douay gold project, which hosts an established mineral resource1 containing 511,000 ounces of gold (Indicated) and 2.53 million ounces of gold (Inferred), as well as the past-producing, high-grade Joutel Mine Complex.
The property contains 481 km2 of prospective geology within the influence of the major gold-bearing Casa Berardi Deformation Zone. Gold mines in the immediate region include the Casa Berardi Gold Mine operated by Hecla Mining Company and the Detour Lake Gold Mine operated by Agnico Eagle Mines Limited.
Maple Gold Mines is advancing its 100%-owned, district-scale Douay/Joutel Gold. Douay/Joutel benefits from exceptional infrastructure access and boasts 481 km2 of prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel Mining Complex.
Maple Gold’s property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the property ripe for new gold and polymetallic discoveries.