JV video: Assays, new deal drive Maple Gold Mines 2.0

Maple Gold Mines (TSXV: MGM) president and CEO Kiran Patankar says this year’s drill results have put the company on a new path.

The Vancouver-based company has restructured its joint venture with partner Agnico Eagle Mines (TSX: AEM; NYSE: AEM) and funded a 12,000-metre drill program on its Douay and Joutel assets in Quebec’s Abitibi Greenstone. It raised $10 million (US$7.3 million) and launched a winter drilling campaign.

The company cut the strongest interval to date in hole DO-25-338, in the Nika zone: 169.5 metres grading 1.43 grams gold per tonne, including 108.6 metres at 2.05 grams, 55.8 metres at 3.05 grams and 17 metres at 4.93 grams.

“Drilling a hole is the last thing you should do in exploration,” Patankar explained last week during an industry event in Quebec City. “You need to know why you’re drilling.”

Since August 2023, the company has cut general and administrative spending by 46%, Patankar said. The company plans a 3,000-metre program at Joutel and a year-end resource update at Douay.

Watch below the full interview with The Northern Miner’s western editor, Henry Lazenby. Joint venture videos are paid-for content in partnership with The Northern Miner.