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Maple Gold Reports Updated Douay Mineral Resource Estimate; Indicated Resources Increase 21% to 511,000 Oz Au and Inferred Resources Increase 7% to 2,525,000 Oz Au on Limited Drilling
Vancouver, British Columbia--(Newsfile Corp. - March 17, 2022) - Maple Gold Mines Ltd. (TSXV:...
About this update from Maple Gold Mines Ltd
[{"type":"text","content":"Maple Gold Reports Updated Douay Mineral Resource Estimate; Indicated Resources Increase 21% to 511,000 Oz Au and Inferred Resources Increase 7% to 2,525,000 Oz Au on Limited DrillingVancouver, British Columbia--(Newsfile Corp. - March 17, 2022) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (\"Maple Gold\" or the \"Company\") is pleased to report the positive results of an updated Mineral Resource Estimate (the \"2022 MRE\") for the Douay Gold Project (\"Douay\" or the \"Project\") in Quebec, Canada, which is held by a 50/50 joint venture (the \"JV\") between the Company and Agnico Eagle Mines Limited. Total contained gold ounces at Douay have increased along with further conversion from Inferred to Indicated Resources categories based on successful exploration and infill drilling, comprehensive mineralization modeling, and using higher cost and gold price assumptions compared to the RPA 2019 MRE[1].Highlights from the 2022 MRE:Pit-constrained Indicated Resources increased 21% compared to the RPA 2019 MRE1 to 511,000 ounces (\"oz\") at an average grade of 1.59 grams per tonne gold (\"g/t Au\") (from 422,000 oz at an average grade of 1.52 g/t Au)Pit-constrained Inferred Resources increased slightly compared to the RPA 2019 MRE1 to 2,065,000 oz at an average grade of 0.94 g/t Au (from 2,045,000 oz at an average grade of 0.97 g/t Au)Underground Inferred Resources increased 50% compared to the RPA 2019 MRE1 to 460,000 oz at an average grade of 1.68 g/t Au (from 307,000 oz at an average grade of 1.75 g/t Au)Initial Indicated Resources in the Nika Zone (30,000 oz at an average grade of 1.13 g/t Au) and the 531 Zone (58,000 oz at an average grade of 2.85 g/t Au), resulting from significant intercepts[2] from the JV's first drill campaign (see Figure 1 for zone locations)Mineralized zones at Douay remain open for expansion and are largely untested below an average vertical drill depth of approximately 350 metres (\"m\") (see Figure 2)Ongoing drilling at Douay is primarily focused on exploration targets in areas with lateral and depth expansion potential that are not part of the 2022 MREDiscovery CostsSince the RPA 2019 MRE, the Company and the JV have incurred an aggregate of approximately US$6.1 million in direct exploration expenditures. This equates to a discovery cost of approximately US$23/oz Au for the incremental ...