Maple Gold Mines
(TSX: MGM; US-OTC: MGMLF) has completed its first drill campaign on its Quebec-based Douay gold project since assembling a new technical committee and exploration team a year ago. The company completed 22,593 metres of drilling and extended key mineralized areas within the known deposit area and discovered new gold zones.
Nearly three-quarters of the drill program was within or near the known 6 km by 1.8 km resource area and focused on building on the core area of the project. The remaining 30% explored the 377-sq.-km land package and generated new green-field targets with shallow reverse circulation drilling and tested existing targets with the first phase of diamond drilling.
The company plans to update the resource in the first quarter of 2019, but for now, Douay’s indicated resource stands at 9.38 million tonnes grading 1.59 grams gold per tonne for 479,000 ounces of gold. Inferred resources add another 84.15 tonnes averaging 1.02 grams gold for 2.75 million ounces of gold. The estimate, last updated in mid-February, used a base case cut-off grade of 0.45 gram gold.
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