Maple Gold Mines Ltd (TSX-V:MGM, OTCQB:MGMLF) has released complete gold assay results from the first phase of deep drilling at the Douay gold project in Québec.
The drilling program, consisting of three new holes and two extension holes, was successful in demonstrating continuity of the gold system down to at least 1,600 meters (m) vertical depth, according to a statement from the Vancouver-based company.
The results showed 10 separate intercepts with gold grades exceeding 2.5 grams per tonne, along with broader intervals of low-grade gold mineralization, which indicates the presence of a deep-rooted gold system at the project site.
Douay is part of a 50/50 joint venture between Maple Gold and Agnico Eagle Mines Limited.
Maple Gold CEO Matthew Hornor told investors that the deep drilling program was developed to test the potential for a “much larger gold system” at Douay and demonstrate continuity of mineralization beneath currently defined mineral resources.
Hornor noted that the average vertical depth of all previous drilling at Douay is roughly 300 m, with limited data below 500 m. As a result, the first round of deeper drilling focused on discovery, including the possibility of a new zone at depth.
“The program was successful from a proof-of-concept standpoint in demonstrating mineralization continuity up to four times deeper than Douay's currently defined Mineral Resources,” Hornor said in a statement.
“Given what we've encountered in the JV's first deep drill holes, the company remains highly encouraged and confident that our detailed interpretation and vectoring work will lead to promising follow-up targets to incorporate into future drill campaigns at Douay.”
As part of its exploration efforts, Maple Gold announced the appointment of Jocelyn (Josh) Pelletier as its chief geologist. Pelletier brings over 20 years of exploration experience in gold deposit formation and porphyry copper-gold systems.
Pelletier and the Maple team plan to conduct further analysis, including multi-element assays, mineralogical studies, and structural controls studies, to refine its targeting and prepare for future drill campaigns.
The company also reported the departure of Joness Lang and Fred Speidel, who left to pursue other opportunities. Additionally, the company granted stock options to an employee and officer to purchase 400,000 common shares.
Maple Gold is also actively refining targets at its Eagle Mine project and the Joutel Gold project, which will be the focus of upcoming fall and winter drilling campaigns. The company continues to explore other areas and plans to define new drill targets for testing in early 2024.
For a complete list of drill results from Douay, click here.
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