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Be the first with the news that moves the market- Maple Gold (TSXV:MGM) has returned the final assays from its 2020 winter drilling program at the company’s Douay project in northern Quebec
- The company has been drilling into the site’s Porphyry gold zone, returning higher than average grades
- The company intersected 1.23 grams per tonne gold over 75 metres, including a 1.61 grams per tonne gold intercept over 31 metres
- The company has stated the gold zone is still open in two directions, and hopes it can significantly improve the economics of the project
- Maple Gold (MGM) is up 6.25 per cent and is trading at C$0.085 per share
Maple Gold (TSXV:MGM) has returned the final assays from its 2020 winter drilling program at the company’s Douay project in northern Quebec.
The company hit 1.23 grams per tonne over 75 metres, including a 1.61 grams per tonne incept over 31 metres.
This year’s drilling was conducted on the western portion of the property’s Porphyry zone. The zone has continued to show relatively shallow mineralization, but with relative consistency and higher than average grades.
Maple has stated that the historic and the winter 2020 drilling results support its perception of the western section of the Porphyry zone hosting better-than-average mineralization.
The latest drill hole Maple Gold sunk into the site returned mineralization across a 164-metre-long cut, starting at 97 metres down.
The latest hole was collared 30 metres from where two historical drill holes were also collared in 2011 and 2012.
Maple Gold’s Vice President of Exploration Fred Speidel commented on the assay results.
“We are very pleased with our 2020 drill results from the western part of the Porphyry Zone, in particular with the high-than-deposit-average grades over significant widths, as well as with the hole to hole and section to section continuity
“Given it’s 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 not fully defined, we intend to further test this area in our next drill campaigns,” he said.
Maple Gold (MGM) is up 6.25 per cent and is trading at C$0.085 per share at 10:30 am EDT.
