Mr. Matthew Hornor reports
MAPLE GOLD PROVIDES STATUS ON EXPECTED TIMING FOR UPDATED RESOURCE ESTIMATE
Maple Gold Mines Ltd. has provided an update on timing for its next resource estimate update. The company's last National Instrument 43-101 inferred mineral resource estimate (2.8 million ounces at 1.05 grams per tonne goldusing a 0.5 g/t cut-off grade) was filed on April 11, 2017 (Micon 2017). The company's technical team has modified and updated internal models in advance of the current drill campaign and has now engaged Micon International Ltd. to prepare a formal resource estimate update.
None of the approximately 23,000 metres drilled in 2017 were included in last year's estimate. In addition, a significant amount (about 8,000 samples) of previously un-assayed historic core was assayed during the fourth quarter of 2017 to improve resource modelling. Maple Gold's senior geologists have now led the relogging of more than 22,000 m of drill core throughout the highest priority zones of the deposit. Maple Gold continues to update and modify its interpretation of the local geology. For all of these reasons, the company is proceeding with an updated resource estimate in order to better reflect the current gold endowment at the Douay gold project. The company expects the updated resource estimate to be reported within the coming weeks during the first quarter of 2018.
Maple Gold's president and chief executive officer, Matthew Hornor, stated: "We look forward to establishing an up-to-date resource base in early 2018 and then building on this throughout the year with our more-than-25,000-metre drilling campaign. This is an exciting time for the company and our shareholders as we head into 2018 with a strong set of catalysts and value drivers ahead of us."
Maple Gold's vice-president, exploration, Fred Speidel, stated: "Wehave spent significant time going through the existing model internally to ensure that we are comfortable with the assumptions and interpretations, given our current knowledge and understanding, of the intrusive hydrothermal system at Douay. We have a very well-balanced team of geologists that includes structural geology expertise, and we will be building new refined geologic models this year on the back of all of the new drilling data and interpretation work that will be completed by our technical group."
Qualified person
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Mr. Speidel, MSc, PGeo, vice-president, exploration, of Maple Gold Mines.Mr. Speidel is a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.
About Maple Gold Mines Ltd.
Maple Gold is a well-financed gold exploration company focused on advancing a district-scale gold project in one of the world's premier mining jurisdictions. The company's 370-square-kilometre Douay gold project is located along the Casa Berardi deformation zone within the prolific Abitibi greenstone belt in Northern Quebec, Canada. The project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large-scale operating mines within 150 kilometres. Maple Gold has a significant drill campaign planned during the 2018 winter season to expand on the known resource areas and test new discovery targets within the company's 55 km of strike along the Casa Berardi deformation zone.
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