It’s been a very successful year so far for Montreal-based Maple Gold Mines Ltd. (TSX-Venture:MGM). Hammering away for many months now at the Douay Gold project near Matagami, Quebec, the miner reported assay results from the four drill-holes completed at what’s called the Nika Zone within Douay, during this winter's campaign.
A news release issued Wednesday showed that these drill-holes build upon last year's 50-metre @ 1.77 g/t Au intercept in DO-18-218 that helped establish a new zone of mineralization not included in past resource estimates.
This year's drilling included two aggressive (200-metre) step-out holes to test for further mineralization up-dip and down-dip from last year's new discovery, a third hole to test the western continuity of the same discovery, and finally the deepening of a 2012 drill-hole (DO-12-105) approximately 250m to the west, which had ended in mineralization with 21.1 g/t Au over the final 1.5 metres.
What’s more, MGM successfully deepened another hole, with the combined 2012 and 2019 intercept returning 42.5m averaging 1.75 g/t Au (uncapped) from approximately 320m vertical depth (465m downhole), including 8m averaging 2.86 g/t Au.
Maple Gold official Fred Speidel commented: "We are excited by these new results, in particular by those obtained with the lengthening of hole DO-19-105X, which serve to provide support for the western continuation of the Nika Zone to at least 250m west of the original 2018 intercept, and also provides further support for the Nika Zone being open to depth.”
Shares in MGM increased half a cent in price, or 5.9%, to nine cents late morning Wednesday, on volume of 160,000