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Be the first with the news that moves the market- Maple Gold Mines (MGM) has mobilised a drill rig ahead of a 3,000-metre drilling campaign at its Douay Gold Project in northern Quebec
- The program will test a number of targets previously identified during earlier induced polarisation (IP) field work
- Up to two deep holes will focus on an initial high-priority target, known as the Northeast IP target, located roughly four kilometres northeast of the project’s established gold resource
- Only one previous hole has been drilled at the target to date, which suggested comparable mineralisation to the nearby past-producing Vezza gold mine
- Maple Gold Mines (MGM) is currently steady at C$0.40 per share, as of 10:59am EDT
Maple Gold Mines (MGM) has mobilised a drill rig ahead of a 3,000-metre drilling campaign at its Douay Gold Project in northern Quebec.
The exploration program will test a number of targets that were identified during the company’s 2019-2020 induced polarisation (IP) field activities.
Up to an initial two deep holes, roughly 500 metres in depth, will focus on the Northeast IP target, located roughly four kilometres northeast of the project’s established gold resource.
The three-kilometre-long regional discovery has been the subject of only one previous drill hole, which was completed in the 1990s to the southwest portion of the target. The results point to similar structures of mineralisation as the nearby past-producing Vezza gold mine, which sits 12 kilometres east of the Douay Project.
Owned by Nottaway Resources, the Vezza mine was closed in 2019, and was thought to host a measured and indicated resource of 1.2 million tonnes at an average grade of 6.5 grams per tonne of gold.
Matthew Hornor, President and CEO of Maple Gold Mines, said the Northeast IP target may have significant implications for the Douay Project as a whole.
“While the Douay Gold Project already hosts one of the largest undeveloped gold resources in Quebec, the significant geological endowment of our property package has always suggested district-scale gold potential.
“We are particularly excited to drill test new, potentially higher-grade targets outside of our current conceptual pits as they not only hold the potential to expand resources at the project but to significantly impact future project economics,” he added.
Maple Gold Mines (MGM) is currently steady at C$0.40 per share, as of 10:59am EDT.
