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Be the first with the news that moves the market- Maple Gold Mines (MGM) is preparing for its next stage of drilling at the Eagle Mine Property in Quebec
- The company is currently finalizing a compilation of current and historical data, new downhole electromagnetic conductor data and a regional airborne geophysical survey
- Maple Gold Mines anticipates reporting the remaining assay results from drilling at the property in Q1 2023
- A follow-up drill program has been scheduled for this year that will test undrilled zones and significant grade and volume potential
- Shares of Maple Gold Mines are down 5.88 per cent to C$0.16 as of 10:46 a.m. EDT
Maple Gold Mines (MGM) is preparing for its next stage of drilling at the Eagle Mine Property in Quebec.
Drill target definition and permitting has put in place for a 5,000 metre follow-up drill program to test undrilled zones with significant grade and volume potential.
At present, the company is compiling current and historical drill data, new downhole electromagnetic (EM) conductor data and regional airborne geophysical survey data it acquired in 2022.
Maple Gold said it anticipates receiving and reporting the rest of its assay results from drilling at Eagle in Q1 2023. Following that, the company will update its 3D model with new drilling and geophysical data in order to generate new sections and level plans and purify additional priority targets.
“We are excited by the new downhole EM results, which contribute key elements to our evolving 3D model for Eagle,” Fred Speidel, vice president of exploration at Maple Gold, said in a release. “This data is extremely valuable as it provides key information up to ~300 m surrounding any given drill hole, which can help guide us towards new potential gold zones. The Company views this and other open target areas at Eagle as an excellent opportunity to define additional high-grade ounces and we look forward to commencing initial follow-up drilling in Q2 2023.”
The company said the downhole EM survey data supports its interpreted northeast-southwest trending cross-plunge that potentially links high-grade results from hole EM-22-015 to intercepts located 60 metres up-plunge in historical hole E-19.
Additional historical drill holes intersecting under 5 g/t gold 250 metres further down-plunge of EM-22-015 will be tested in follow-up drilling sometime this year.
Maple Gold Mines is an advanced exploration company that has a 50/50 joint venture with Agnico Eagle Mines to advance the Douay and Joutel gold projects in Quebec’s Abitibi Greenstone Belt. The company also holds an exclusive option to acquire 100 per cent of the Eagle Mine Property.
Shares of Maple Gold Mines (MGM) are down 5.88 per cent to C$0.16 as of 10:46 a.m. EDT
