Maple Gold plans 1st drill program after completing 3D model at Eagle Mine

Maple Gold Mines Ltd. has announced plans for a 2,500-3,000 metre drill program based on the recently completed 3D geological and structural model at the Company's 100% controlled Eagle Mine Property in Quebec. Eagle is a 77-hectare property that hosts the historical Eagle Mine and covers a key segment of the past-producing Eagle-Telbel Mine Trend, which produced 1.1 million ounces of gold between 1974 and 1993[1] under much lower gold prices than those prevailing today. Eagle is not currently a part of the Joutel Gold Project that is held by a 50-50 joint venture between the Company and Agnico Eagle Mines Limited.

Highlights:

• Results indicate an opportunity to extend mineralization beyond the mined-out stopes and along observed sub-parallel gold trends that were never mined nor adequately tested.
• Significant historical drill intercepts[2] adjacent to areas that have seen only limited drilling to-date (e.g. 32.9 g/t gold ("Au") over 10.4 m, 16.2 g/t Au over 9.0 m and 10.2 g/t Au over 10.2 m) all point to the high-grade gold mineralization potentially remaining at Eagle.
• The Company's 3D modelling and grade contouring work has identified numerous high priority drill targets, several of which will be tested as part of a planned 2,500-3,000 metre Phase I drill program expected to commence in Q4 2021. 

Fred Speidel, VP Exploration of Maple Gold, commented: "When combined with the previously released 3D model results from the Telbel Mine area (see August 16, 2021 news release), these latest results from Eagle highlight the potential for near-mine extensions along the entire Eagle-Telbel Mine Trend as well as along sub-parallel target trends. Acquiring this strategic ground that hosted Agnico's first gold mining operation with the benefit of an extensive drilling database and modern tools will allow us to effectively test high priority target areas that have seen only limited exploration activity since mine closure in 1993."

Phase 1 Drill Targeting

Results from the Company's initial 3D model grade contouring work at Eagle demonstrate the potential for relatively shallow mineral resources to be defined through further confirmation drilling as well as the untested potential below the previously mined-out areas (see Figure 1). The Eagle longitudinal section has also identified district-scale and deposit-scale southeast plunges of mineralization similar to those interpreted at Telbel as well as potential intersections at depth with interpreted deposit-scale cross-plunges. 

Figure 1: Eagle long section with grade contouring and target areas within the main mine horizon (~30 m width). Note: E-15 intercept (highlighted intercept #9) is located 50 m south of the main mine horizon (see Figure 2 for more details). Grade contour trends are similar to those at Telbel and point to significant potential, particularly along the lower flank of the Eagle system (shallow/cross plunges).

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