Maple Gold Mines Ltd (TSX-V:MGM, OTCQB:MGMLF) has provided an update on a number of ongoing exploration activities, while gearing up for the next phase of drilling at its 100%-controlled Eagle Mine property in Québec, Canada.
Notably, the Eagle Mine property hosts the historical underground Eagle Mine, which formed a part of Agnico's past-producing Eagle-Telbel mining complex that produced 1.1 million ounces of gold between 1974 and 1993.
The Vancouver-based advanced exploration company said it is rounding out a compilation of current and historical drill data, new downhole electromagnetic (EM) conductor data, and the regional airborne geophysical survey data acquired by Maple in 2022.
Drill target definition and permitting have been initiated for a planned 5,000-metre (m) follow-up drill program in 2023 that will test undrilled zones with significant grade and volume potential.
READ: Maple Gold returns best intercept to date from 2022 drill program at Eagle Mine in Québec
Maple expects to receive and report remaining assay results from completed drilling at Eagle in the first quarter of 2023. Once final results are in, Maple said it will update its 3D model with “new drilling and geophysical data” to generate new sections and level plans and “refine additional priority targets.”
According to Maple, the immediate focus of the 2023 drill program will be potential extensions of known high-grade (>5 grams per ton (g/t) gold (Au)) mineralization, including areas which are up-down plunge of EM-22-015, that returned seven separate intercepts highlighted by 10.3 g/t Au over 7.8 meters.
Gold mineralization within the main mine horizon at Eagle is generally oriented northwest-southeast, which is consistent with modeled stratigraphy. However, Maple said that one of the EM anomalies is best modelled as a planar feature at high angles to the overall trend, suggesting that gold mineralization may be controlled not only by stratigraphy but also by cross-cutting structures, which are supported by 3D drone magnetic inversion trends.
The new downhole EM survey data provides support for Maple’s interpreted northeast-southwest trending cross-plunge, potentially linking high-grade results from EM-22-015 to intercepts located 60m up-plunge in historical hole E-19 (19.6 g/t Au over a similar 7.9m width). Additional historical drill holes intersected >5g/t Au roughly 250m further down-plunge of EM-22-015, highlighting the grade and volume potential of a new zone that will be tested through follow-up drilling in 2023, said the company.
"We are excited by the new downhole EM results, which contribute key elements to our evolving 3D model for Eagle," said Fred Speidel, vice president of exploration at Maple Gold.
"This data is extremely valuable as it provides key information up to approximately 300m surrounding any given drill hole, which can help guide us towards new potential gold zones. The company views this and other open target areas at Eagle as an excellent opportunity to define additional high-grade ounces and we look forward to commencing initial follow-up drilling in 2Q 2023."
Investors can learn about Maple Gold’s conceptual targets for further testing in 2023 along with other corporate updates and disclosures here.
In addition to its 100%-controlled Eagle Mine property, Maple is in a 50:50 joint venture with Agnico Eagle Mines Ltd (TSX:AEM) to advance the district-scale Douay and Joutel gold projects located in Quebec's prolific Abitibi Greenstone Gold Belt.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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