Maple Gold Mines Ltd (TSX-V:MGM, OTCQB:MGMLF) reported complete gold assay results from the first phase of deep drilling which showed high-grade gold mineralization more than 500 meters below the historical Telbel Mine at the Joutel gold project in Quebec's prolific Abitibi Greenstone Gold Belt.
In addition to its 100%-controlled Eagle Mine property, Maple is in a 50:50 joint venture (JV) with Agnico Eagle Mines Ltd (TSX:AEM) to advance the district-scale Douay and Joutel gold projects.
The JV completed 7,343 metres (m) in three master drill holes and four wedge drill holes, with TB-22-001 and TB-22-003, and their respective wedges testing the modeled down-plunge extension of gold mineralization beneath the historical Telbel workings. TB-22-002 was a step-out to test the southeast continuity of the Eagle-Telbel system.
Remarkably, all three holes intersected significant horizons of massive sulfides, with TB-23-003W2 intersecting significant gold mineralization around 575 m below the lowest level of the historical mining at Telbel.
While reporting complete assay results, Maple highlighted that TB-23-003W2 intersected 3.5 grams per ton (g/t) gold (Au) over 4.8 m from 2,018.2 m downhole, including 5.2 g/t Au over 2 m and 11.1 g/t Au over 0.5 m in semi-massive to massive pyrite.
Another intercept returned 3.9 g/t Au over 4.5 m in a pyrite-iron-carbonate zone near the end of the hole, including 5.8 g/t Au over 2 m and 7.6 g/t Au over 1 meter. The results indicate that gold mineralization is present well below the limits of historical mining in this area, noted Maple.
"This first phase of deep drilling at Telbel demonstrates the presence of high-grade gold mineralization beneath the underground mine workings and the deepest historical gold intercepts at Telbel," said Maple Gold CEO Matthew Hornor.
"Two drill holes also essentially bottomed in mineralization, which indicates the potential for additional gold intercepts with modest drill hole extensions.”
Hornor also noted that the upper zone of “semi-massive pyrite in both TB-23-003W1 and -W2” also provide Maple with proof-of-concept for multiple additional broader zones of gold mineralization located in sparsely drilled areas with both grade and volume potential.
Maple said that while most of the historical sulfide intercepts are along the Eagle-Telbel Mine horizon, both TB-23-003 wedges intersected broader semi-massive pyrite intervals up to 100 m downhole, within which multiple lower-grade up to 35 m thick and up to 1.1 g/t Au intercepts were returned.
Interestingly enough, the lower-grade gold mineralization in semi-massive sulfide could represent the edges of a new zone and confirms that gold mineralization is not limited to a single stratigraphic interval.
The longest hole, TB-23-002AW1, was drilled to 2,242 m, and ended in sulfide mineralization, with anomalous gold grades increasing downhole and most pertinently the hole may have ended on the edge of a more significant sulfide body, according to Maple. Shallower nearby historical holes have shown significant sulfide concentrations in this area.
This deep drill campaign was the first drilling completed at the Telbel Mine area since the 1990s. A single 600-meter lens of high-grade gold was mined at Telbel back when gold averaged approximately $350 an ounce.
Clearly, the results from the initial Telbel deep drill program support the strike and depth continuity of the Eagle-Telbel Mine horizon beyond the current limits of drilling and support the presence of multiple mineralized horizons.
Historical data and drilling both point to potential depth extensions of the Telbel deposit along a steep southeasterly plunge. A wedge hole of less than 500 m will be considered to test this target concept during the next phase of drilling, noted Maple.
Meanwhile, multi-element assay results remain pending from the first phase of deep drilling at the Telbel Mine area and a further downhole electromagnetic survey is planned, both of which will support and refine targeting for an expected follow-up program later this year.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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