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Maple Gold Details 1,500 Metre Long Drill-Ready Target Area with New Induced Polarization Survey

Apr 15, 2020

Montreal, Quebec--(Newsfile Corp. - April 8, 2020) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to announce that the Company's infill induced polarization (IP) lines at the Northeast IP Target now includes a 1,500m metre long drill-ready target area in the SW portion of a 3km corridor of chargeability anomalies, with both known local geology and Induced Polarization response interpreted to be favourable for new Vezza-type gold discoveries. The past producing Vezza mine, located 12 km to the east of Maple Gold's Douay Project, produced approximately 0.4M ounces at ~6 g/t Au (life-of-mine). In addition to Vezza, the much larger Casa Berardi deposit (6.2M ounces past production plus reserves and resources), occurs in the same litho-tectonic context as Vezza. Casa Berardi is located approximately 40km west of the Douay property, with current (proven and probable) reserve grades of 5.3 g/t Au for underground and 2.3 g/t Au in-pit.1 Summary highlights for this new discovery drill target include:

  • Single short historical drill-hole (1994), completed just off western edge of the new IP anomaly, intersected Vezza-style alteration and mineralisation (silica-sericite-pyrite altered sediments with disseminated pyrite) and anomalous background gold(20-120ppb Au) from 62.4m to end-of-hole at 153m, with interval gold grades increasing downhole.

  • The Company's infill IP survey defined highest chargeability over >400m distance (for context Vezza deposit extended for about 400m along strike), starting near surface and open to depth (Figs. 1 and 2).

  • Maple Gold will focus on vectoring toward the higher grade portion of the hydrothermal system in this area, believed to be to the northeast, associated with an increased chargeability response.

  • The IP anomalies forming the eastern half of the above-mentioned 3km corridor appear to be open to the north; the IP grid will be extended in that direction before initial drilling occurs in this area. 

Note: Mineralisation hosted on adjacent and/or nearby properties is not necessarily indicative of mineralisation hosted on the Company's Douay Property.

Maple Gold's VP, Exploration, Fred Speidel, commented: "Our 2020 drilling campaign included a series of drill-holes within the known deposit area where we believe we can define more near surface higher-grade material, but we are also very excited about the prospect of making new greenfield discoveries across our greater property and the Northeast IP Target represents an excellent opportunity for us to do so." Coming soon: Educational Investor Update - Targeting New Gold Discoveries with Fred Speidel. Click the following link to receive investor updates directly to your inbox: https://bit.ly/2x35K6V

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