- Maple Gold Mines (MGM) reported assay results from of the company’s drill program at its Eagle Mine property
- All reported drillholes contained gold mineralization (over 1 g/t Au), and seven of the nine reported drillholes contained multi-gram gold intercepts (2 g/t Au or better)
- 2,250 metres of assays remain currently pending at Eagle, with a further 1,500 metres of remaining drilling to be completed this year.
- Maple Gold Mines Ltd. (MGM) is up 5.88 per cent, trading at $0.18 per share as of 12:40 pm ET
Maple Gold Mines (MGM) reported assay results from of the company’s drill program at its Eagle Mine property.
This includes complete results for four drillholes and partial assay results for five additional drillholes.
Previously completed digitization and modelling of historical drill results and a further review of drill logs identified a potential southern splay of the main mine horizon located northwest of the past-producing Eagle mine in an area targeted for follow-up drilling.
Highlights:
- Hole EM-22-13 intersected 2.3 grams per tonne (g/t) gold (Au) over 10.4 metres, including 5.0 g/t Au over 3.2 metres (from 257 metres downhole)
- Hole EM-22-16 intersected 3.1 g/t Au over 7.3 metres, including 4.0 g/t Au over 3.6 metres (the latter from 193 metres downhole)
- Hole EM-22-10 intersected 14 g/t Au over 0.5 of a metre (from 539.5 metres downhole) and 8.3 g/t Au over 1 metre (from 543 metres downhole)
- All reported drillholes contained gold mineralization (over 1 g/t Au), and seven of the nine reported drillholes contained multi-gram gold intercepts (2 g/t Au or better)
2,250 metres of assays remain currently pending at Eagle, with a further 1,500 metres of remaining drilling to be completed this year. The new drill results support earlier interpretations that gold mineralization occurs over multiple sub-parallel horizons extending along a northwest-southeast orientation over an actual stratigraphic thickness of more than 100 metres.
The company’s VP of Exploration, Fred Speidel, said these new results at Eagle also confirm modelling interpretations and demonstrate the potential to define significant zones of gold mineralization beyond what was historically mined at Eagle during a much lower gold price environment.
“Encountering relatively shallow multi-gram gold intercepts in an area that remains open for roughly 200 m along strike within the Eagle property boundary and a further 1.5 km beyond that on JV-controlled ground highlights the exploration upside that remains along this past-producing mine trend.”
Final and partial results for Eagle drillholes:
Maple Gold Mines Ltd. (MGM) is a Canadian advanced exploration company. The company is in a joint venture with Agnico Eagle Mines to advance the district-scale Douay and Joutel gold projects in Québec’s Abitibi Greenstone Gold Belt. The company also holds 100 per cent control of the Eagle Mine Property in Québec.
Maple Gold Mines Ltd. (MGM) is up 5.88 per cent, trading at $0.18 per share as of 12:40 pm ET.