Source: Maple Gold Mines Ltd.
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  • Maple Gold Mines (MGM) announced that a third drill rig has been secured to commence a 5,000-metre Phase III drill program at its Eagle Mine Property
  • The rig is expected to arrive on-site by mid-October, keeping the company on track to complete approximately 30,000 metres across its district-scale 400 km2 property package in Québec, Canada, by year-end
  • A fourth drill rig is expected to be secured in November to commence a 10,000-metre-deep drilling program at the Douay Project
  • Maple Gold Mines Ltd. (MGM) is down 2.86 per cent, trading at $0.17 per share at 9:45 am ET

Maple Gold Mines (MGM) announced that a third drill rig has been secured to commence a 5,000-metre Phase III drill program at its Eagle Mine Property.

The rig is expected to arrive on-site by mid-October, keeping the company on track to complete approximately 30,000 metres across its district-scale 400 km2 property package in Québec, Canada by year-end.

Two rigs are now turning on deep drill holes beneath and adjacent to the historical underground mine workings in the Telbel mine area at the Joutel Project, which is held by a 50/50 joint venture between Maple Gold and Agnico Eagle Mines Ltd. (TSX:AEM).

The company’s President and CEO, Matthew Hornor, stated that this phase of drilling at Eagle will follow up on the best results of the first two drilling phases and test additional targets while also ramping up the pace of the supplemental C$4.8 million deep drilling program at Douay and Joutel.

“With normal site operations now restored, our backlog of core splitting and sample shipments has been effectively eliminated, and we anticipate additional assay results throughout Q4 2022. The Company expects to be continuously drilling more aggressive step-out and deep drill holes at Douay, Joutel and Eagle with at least three rigs from mid-October through the end of Q1 2023.”

A fourth drill rig is expected to be secured in November to commence a 10,000-metre-deep drilling program at the Douay Project.

Source: Maple Gold Mines Ltd.

The company has also recently completed a new 534 m exploration drill hole at Douay (DO-22-330), collared approximately 4 km south of the 531 Zone along the regional Casa Berardi South Fault, locally known as the Joutel Deformation Zone, a favourable structural corridor for hosting gold mineralization.

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 Québec’s Abitibi Greenstone Gold Belt. The company also holds 100 per cent control of the Eagle Mine Property in Québec.

Maple Gold Mines Ltd. (MGM) is down 2.86 per cent, trading at $0.17 per share as of 9:45 am ET.


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