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Maple Gold Retains RPA for New Resource Estimate and Set to Receive $1.9 Million in Tax Credit Refunds During Q1 2019
Montreal, Quebec--(Newsfile Corp. - January 23, 2019) - Maple Gold Mines Ltd.  ( TSXV: M...
About this update from Maple Gold Mines Ltd
[{"type":"text","content":"Maple Gold Retains RPA for New Resource Estimate and Set to Receive $1.9 Million in Tax Credit Refunds During Q1 2019Montreal, Quebec--(Newsfile Corp. - January 23, 2019) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (\"Maple Gold\" or the \"Company\") is pleased to announce that Roscoe Postle Associates (\"RPA\") has been retained to prepare a new resource estimate update on the Company's Douay Project. RPA provides services to the mining industry at all stages of project development and is one of the top three organizations ranked by number of resource estimation reports completed.[1]Maple Gold's President and CEO, Matthew Hornor, stated: \"We look forward to working with RPA to complete this new resource estimate, as a follow up to the work previously completed by Micon. The new estimate and the commencement of a focused drill campaign are both expected later this quarter. We will continue to share additional results from our 3D modeling work in the coming weeks, including some of our highest priority drill targets.\"The updated mineral resource estimate will use the Company's updated databases and models (see press release January 16, 2018), including the results of winter 2018 drilling that did not form part of the prior estimate (Micon 2018). This new mineral resource estimate is anticipated to include both open pit and underground resources. This is consistent with the Company's strategy of optimizing the quality of the existing resources while continuing to add to the quantity of the resource base via discovery drilling, not only within the top 400m, but also below that level as part of the evaluation of the overall (open pit and underground) potential of the project. RPA's work will prove essential as the Company prepares and advances Douay toward its first overall Preliminary Economic Assessment (\"PEA\"), which the Company plans to start toward year-end. 2017 resource tax credit claimsThe Company has received notices of assessment from Revenu Quebec with respect to the Company's 2017 resource tax credit claims. The Company will receive approximately $1.9 million related to these 2017 claims and the refunds are expected to be received during Q1 2019. Maple Gold grants incentive stock optionsThe Company has granted 7,330,000 incentive stock options to certain directors, officers, employees and consu...