Closeup of Eagle-Telbel mine area and Douay-Joutel property boundary with identified conductive target areas and known/interpreted structures on a Tau dB/dt EM base map. Source: Maple Gold Mines Ltd.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Maple Gold (MGM) announced that its 50/50 joint venture with Agnico Eagle Mines Ltd. (AEM) has completed a regional airborne magnetic and electromagnetic survey to support exploration drill targeting at the Douay and Joutel Gold projects in Quebec
  • Results from the survey were analyzed alongside existing geological and geophysical data to identify anomalies of interest that are prospective for pyritic gold and volcanogenic massive sulphide styles of mineralization
  • Four conductive target areas are being ranked and prioritized for future drill testing
  • Maple Gold Mines (MGM) is trading steady at $0.165 per share as of 11:00 am ET

Maple Gold (MGM) announced that its JV with Agnico Eagle Mines (TSX:AEM) has completed a regional airborne magnetic and electromagnetic survey.

The survey supports exploration drill targeting across the western half of the Douay Gold Project and the entire Joutel Gold Project.

The survey covers 278 square kilometres of JV-controlled ground.

Results from the survey were analyzed alongside existing geological and geophysical data to identify anomalies of interest that are prospective for pyritic gold and volcanogenic massive sulphide (VMS) styles of mineralization.

Four conductive target areas are being ranked and prioritized for future drill testing:

Joutel Targets where known gold mineralization has been found and possible similar structures are believed to exist

Southeast Targets along the largely undrilled Douay-Joutel property boundary

Central Targets at Douay are sparsely drilled and partly coincide and extend beyond VMS copper-zinc-(gold)

Northwest Targets at Douay are also sparsely drilled and are associated with an intrusive-like magnetic anomaly

The company’s President and CEO, Matthew Hornor explained that a key pillar of the team’s strategy is to focus drilling and exploration work in areas that exhibit potential for additional larger and higher-grade mineralized zones at Douay, while also testing the resource potential that remains along and beyond the entire past-producing Eagle-Telbel mine trend at Joutel.

“We are already drilling step-out and deep targets at both projects and these new Mag-EM survey results point to additional targets not only in the Eagle-Telbel mine area and along its lateral extensions, but also on the greater Douay property, where the Company previously identified VMS targets via prospecting in 2018. We look forward to testing this next set of targets in upcoming JV drill campaigns.”

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 Quebec’s Abitibi Greenstone Gold Belt.

Maple Gold Mines (MGM) is trading steady at $0.165 per share as of 11:00 am ET.

More From The Market Herald

" ValOre Metals (TSXV:VO) announces $2.5M private placement

ValOr Metals (VO) has announced a non-brokered private placement for gross proceeds of up to $2,500,000.

" Sigma Lithium (TSXV:SGML) preparing Phase 1 pit for mining

Sigma Lithium’s (SGML) construction remains on schedule for its Phase 1 production plant and mine at its Grota do Cirilo Project.
Contact Gold - Overview of Green Springs Project

" Contact Gold (TSXV:C) reports Q2 2022 financial & operating results

Contact Gold Corp. (C) released its financial and operating results for Q2 2022.

" Goldcliff (TSXV:GCN) samples 170 g/t silver at Kettle Valley

Goldcliff Resource Corporation (GCN) has reported that follow-up surface sampling at the Kettle Valley Gold-Silver Project in B.C. has yielded strong silver values.