Maple Gold Mines (TSXV: MGM; US-OTC: MGMLF) has released the results of hole 20-281 completed within the conceptual pit shell at the Porphyry zone at the company’s 355-sq.-km Douay project in Quebec.
The drill hole returned 164 metres of 0.86 gram gold per tonne starting at 107 metres and includes a number of higher-grade gold zones, including 75 metres of 1.23 grams gold per tonne as well as 5 metres of 1.71 grams gold per tonne.
According to the company, these results support the up- and down-dip continuity of mineralization from historical holes. In addition, the assays from this year’s drilling now appear to connect several new and historical intercepts within a broad zone of mineralization that extends from the top of the bedrock to the base of the conceptual pit shell at the western part of the Porphyry zone. At the end of May, the company announced that drilling in this area returned gold mineralization outside of the resource model.
“We are very pleased with our 2020 drill results from the western part of the Porphyry zone, in particular with the higher-than-deposit-average grades over significant widths, as well as with the hole to hole and section to section continuity; our team is already in the process of defining drill hole locations for the next phase of drilling in this area,” Fred Speidel, the company’s vice-president of exploration, said in a news release.
“Given its characteristics, this area has the potential to positively impact project economics, and given the fact that the northern and eastern limits of this zone are still not fully defined, we intend to further test this area in our next drill campaigns.”
Future exploration within the Porphyry zone will aim to define the limits of the mineralized zones and to upgrade inferred resources.
Last year, the company released an updated resource for Douaym, with total pit-constrained indicated resources of 8.6 million tonnes grading 1.52 grams gold for a total of 422,000 oz. and a further 65.8 million inferred tonnes at 0.97 gram gold totalling 2 million pit-constrained ounces. The underground component includes 5.4 million inferred tonnes grading 1.75 grams gold for a total of 307,000 ounces. The resources are contained within the Porphyry, Douay West, Nika and 531 zones, among others, with cut-off grades ranging between 0.45 gram and 1 gram gold.
Douay covers 55 km of strike along the Casa Berardi deformation zone, within the Abitibi greenstone belt. The project is about 2.5 hours north of Val d’Or and about 1.25 hours north of Amos via Highway 109.
At press time in Toronto, Maple Gold Mines was trading at 8¢ per share within a 52-week trading range of 4¢ and 14¢.
The junior has 239 million common shares outstanding for a $19-million market capitalization.
— This article first appeared in the Canadian Mining Journal.
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