Montreal, Quebec - June 11, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report additional drill results from the Nika and NW Zones located in the northwestern portion of the current Resource Area.
In the Nika Zone area, hole DO-18-227 cut 5m of 2.32 g/t Au from 101m downhole (estimated vertical depth of 90m, estimated true width of about 4.5m), on the SE edge of an existing Micon (2018) resource area. This is a new syenite-hosted zone located about 130m south of, and parallel to, the main mineralized zone in the satellite conceptual pit (Micon 2018) located just to the west of the new Nika Zones (Fig. 1). This therefore represents additional mineralization that could contribute a modest increase to the existing resource base.
In the NW Zone area, DO-18-223, a step-out hole collared about 270m to the west of the NW Zone conceptual pit, returned 3.0m of 1.58 g/t Au from 99m downhole (estimated 78m vertical depth, estimated true width of about 2.7m). This is a new volcanic-hosted zone located about 150m north of, and parallel to, the northernmost existing mineralized zone and corresponding wireframe, which could also contribute a modest increase to the existing resource base. This intercept is located approximately 270m west of historical hole 4140-94-05, that cut 1.32 g/t Au over 5.6m from the same depth. Given spacing of about 300m between existing drill-holes east of DO-18-223, additional drilling will be required, not only to test for continuity of mineralization, but also to test for possible structural intersections that may result in broadening of mineralized zones as noted in the recently discovered Nika Zones some 800m to the SE (see Fig. 1).
Within the general Nika and NW Zones area, assays are only pending for drill-hole DO-18-245 (NW Zone step-out) and hole DO-18-241 (Nika Zone); the latter could confirm the SE continuity of the significant mineralization (50m of 1.77 g/t Au, uncut), as outlined in DO-18-218 (see press release dated May 14, 2018). See all highlighted drill results to-date from the Nika and NW Zones in the summary table appended to this press release.
Maple Gold's President and CEO, Matthew Hornor, stated: "We have now intersected multiple new mineralized zones between existing resource areas, as well as beyond them in the northwestern portion of the general Resource Area. These new mineralized zones at Nika and the NW Zone project up-dip to surface and also remain open along strike."
The spatial distribution of new mineralized zones, shown in pale yellow in Fig. 1 above, indicates that not only are gaps starting to be filled in between existing resource areas, but additional zones are being defined within and beyond them. Additional step-out drilling will be warranted off the northern edge of the NW Zone as there is very little drilling in that area.
The westernmost mineralized zones in Fig. 2 below, as shown in plan view in Fig. 1, represent completely new zones. All others on the cross-section, defined in historical drilling, have corresponding wireframes. Note presence of mineralized zones within the main syenite body, as well as associated with lithological contacts, a common theme at Douay.
Gold mineralization in the Nika Zones is associated with larger syenitic bodies, whereas in the NW Zone to the north, mineralization tends to be hosted in a mixed volcanics and tuffs, and in particular near lithological contacts. This contrast is also shown in Fig 3 below.
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc, P. Geo., Vice-President Exploration, of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
Maple Gold implements strict Quality Assurance ("QA") and Quality Control ("QC") protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drill-hole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the analytical laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company's QA/QC page on the website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is an advanced gold exploration company focused on defining a district-scale gold project in one of the world's premier mining jurisdictions. The Company's 370 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold has now completed a significant winter drill campaign to expand on the known Resource Areas and test new discovery targets within the Company's 55 km of strike along the Casa Berardi Deformation Zone. For more information please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Office: +1 416.306.8124
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward Looking Statements:
This news release contains "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada, including statements about the prospective mineral potential of the Porphyry Zone, the potential for significant mineralization from other drilling in the referenced drill program and the completion of the drill program. Forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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