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Maple Gold Provides Mid-Year Review and Outlook for Remainder of 2018
Montreal, Quebec--(Newsfile Corp. - July 17, 2018) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQ...
About this update from Maple Gold Mines Ltd
[{"type":"text","content":"Maple Gold Provides Mid-Year Review and Outlook for Remainder of 2018Montreal, Quebec--(Newsfile Corp. - July 17, 2018) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (\"Maple Gold\" or the \"Company\") provides a recap of developments and progress made during the first half of the year and outlines upcoming plans and catalysts for the balance of the year, which includes approximately 7,000 metres of pending assays from discovery focussed greenfield drilling and a new resource estimate.Mid-year Highlights SummaryUpdated Resource Estimate (Micon 2018) - see corresponding section belowConverted 479,000 ounces at 1.59 g/t Au to Indicated category (0.45 g/t cut-off)Additional 2,759,000 ounces at 1.02 g/t Au in the Inferred category (0.45 g/t cut-off)Completed 22,606 metres of drilling (not included in last resource estimate): 21,122 metres of diamond drilling from 52 holes and 1,484 metres from 57 short top-of-bedrock holes Drilling to-date (see Drilling Highlights section for more details):Extended existing zones at depth and laterally Discovered new mineralized zones within conceptual pits previously classified as wasteDrilled multiple >2 g/t Au intersections throughout the resource area, confirming these accumulations are widespread (see Figure 1) Discovered new gold zones (e.g. Nika), including additional high-grade accumulations beyond existing wireframes and existing conceptual pit outlinesPending / still to be reported: ~30% of the assay results from diamond drilling (including 8 resource area holes and all 13 of the greenfield drill-holes), plus results and analysis from all 57 top-of-bedrock drill-holes Increased Quebec institutional ownership to ~10% in April with closing of C$3.95M hard-dollar financing at $0.24 (no warrants, insider participation) and closed $2.49M in flow-through funding at $0.30 (June 1st), also without warrants and representing a significant premium to marketCoverage: Initial watch list research coverage published by GMP Securities, Canaccord Genuity and Echelon Partners in January, February and March, respectivelyUpcoming catalysts are highlighted throughout the following sections. Updated Resource Estimate In the previous 2017 resource estimation, mineralization was interpreted to form en-echelon, structurally controlled but not necessarily interconnected zones. The estimate includ...