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Maple Gold Mines Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 600 – 1111 West Hastings Street
Vancouver, BC
Canada V6E 2J3
Tel No.: (604) 729-9607
E-mail: kbuchanan@maplegoldmines.com
Contact Person: Kaila Buchanan
Position: Marketing & Communications Coordinator


Company Data

Traded Market: TSX-V
Traded Symbol: MGM
Outstanding Shares: 321,067,848
Public Float: 321,067,848
52 Week High: $ 0.56
52 Week Low: $ 0.235
Present Price: Click Here


Introduction

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Maple Gold is a Canadian advanced exploration company in a 50-50 joint venture with Agnico Eagle to jointly advance the district-scale contiguous Douay and Joutel gold projects located in Quebec's prolific Abitibi greenstone gold belt. Maple Gold's Douay Project and Agnico's Joutel Project benefit from exceptional infrastructure access and boast a combined approximately 400 km2 of highly prospective ground including an established gold resource that holds significant resource expansion potential as well as the past-producing Telbel mine.

The property also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi deformation zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is focused on carrying out aggressive exploration programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi belt.


Projects in Hand

Douay and Joutel Gold Projects, Quebec, Canada

50-50 Agnico Eagle Strategic Partnership Highlights

  • Agnico completed $8.7M in investments (Aug-Oct 2020).
  • Agnico's Joutel Project and Maple Gold's Douay Project to be consolidated into 400 km2 property package. Both properties are also highly prospective for new regional gold discoveries.
  • Douay Project

    • The district-scale ~357km2Douay Project hosts an NI 43-101 gold resource (RPA 2019) of 422,000 ounces in the Indicated category (8.6 Mt grading 1.52 g/t gold) and 2.35 million ounces Inferred (71.2 Mt grading 1.03 g/t gold).
    • Douay offers significant potential for high-grade deposits given its proximity to high-grade mines including the Eagle-Telbel and the Vezza mines.
    • Winter 2020 Drill Program (consisting of 14 holes over 4,370 metres) highlights: 11 out of the 14 holes intersected higher-than-deposit average grade gold mineralization, indicating significant resource expansion potential at multiple zones such as Porphyry and NW zones.
    • Fall 2020 Drill Program concluded in early January 2021. Expanded program from planned 3,000 metres to ~4,500 metres in 10 holes.
    • In January 2021, Maple Gold commenced one of the largest Induced Polarization ("IP") surveys to be carried out on the project totalling approximately 117 line km over three grids.
    • Winter 2021 drill program of approximately 10,000 metres is underway

    Joutel Project

    • Land package covers 39 km2 directly south of, and adjacent to, Maple Gold's Douay project.
    • The Joutel Project hosted Agnico's past-producing Telbel mine.
    • Significant historical data available and indicate the potential for near-surface, higher-grade mineralization around the old Telbel Mine shaft in addition to higher grade being open at depth.
  • Agnico to fund C$18M in exploration expenditures over 4 years.
  • Agnico and Maple Gold operate under a joint operatorship. Maple Gold's VP Exploration is General Manager of the JV.
  • Agnico and Maple Gold to jointly fund C$500K in exploration of VMS targets on the western portion of the Douay Project.
  • Maple Gold holds a 2% NSR at Douay while Agnico holds a 2% NSR at Joutel with buyback provisions of C$40M each.
  • Agnico to contribute its technical expertise to the JV and has agreed to support Maple Gold in its pursuit of third-party project financing for the project development phase.

Current plans for the first year of the JV include:

  • Winter 2021 drill program is underway. The program is expected to total approximately 10,000 metres (approximately 20-30 holes) at the Douay project that will encompass both step-out and infill drilling as well as regional exploration drilling focused on new discoveries (such as the Northeast IP and P8 targets);
  • Digitization of historical data at the Joutel project of approximately 500 surface and 6,500 underground holes to build a 3-D model for additional exploration targeting;
  • Completion of larger induced polarization surveys over three separate grids (two over Douay ground and one over Joutel ground), totalling approximately 120 line km.

Investment Highlights

  • Projects located in Quebec's Prolific Abitibi Greenstone Belt
  • Strategic partnership with Agnico Eagle Mines
  • Established gold resource and past producer
  • Targeting the next multi-million-ounce Canadian gold camp
  • ~$40M in cash and committed JV funding
  • Management, Board and Advisors from major company backgrounds


Management

Management, Directors and Advisors

Matthew Hornor, President & CEO, Director

10+ years Executive VP for Ivanhoe Mines and Managing Director for Ivanhoe Capital Corp.

Structured partnerships and negotiated project/equity financings valued at over $450 million

Former Chairman for Ivanplats Holding SARL

Fred Speidel, VP Exploration

30+ years exploration work with Minnova, Inmet Mining, First Quantum and Antofagasta Minerals

Involved in the Boyvinet and Troilus discoveries in Quebec (Troilus became open-pit Au-Cu mine)

Involved in several discoveries in Central and South America

Joness Lang, Executive Vice-President

B.Com/Finance background with 12+ years of capital markets experience

Director of American Pacific Mining and former VP with Riverside Resources

Maurice Tagami, Director & Technical Advisor

Gérald Riverin, Director & Technical Advisor

Internationally renowned expert on VMS deposit geology (holds Ph.D. in Geology from Queens)

Involved in the discovery/development of notable properties in Quebec (e.g. Troilus Au-Cu mine)

Former Director of Exploration for Inmet Mining Corp. Prospector of the Year Winner (QMEA)

Sean Charland, Director

Michelle Roth, Director

David Broughton, Technical Advisor

Former Executive VP, Exploration with Ivanplats Ltd. (now Ivanhoe Mines) for 8 years

Winner of PDAC's Thayer Lindsley & Colin Spence award for world-class discoveries

Worked extensively throughout the Abitibi including in the Casa Berardi and Joutel areas

Egizio Bianchini, Strategic Advisor

Vice-Chairman, Managing Director and Head of Investment Banking for Stifel GMP Canada

Former Executive Vice Chairman of Ivanhoe Mines

Former Vice Chairman and Co-Head of BMO's Global Metals & Mining Group

Timo Jauristo, Strategic Advisor

Matthew Lechtzier, Strategic Advisor


News Update

On January 17, 2022, Maple Gold Mines Ltd. has resumed drilling at the company's Douay gold project in Quebec, Canada. Douay is held by a 50/50 joint venture between the company and Agnico Eagle Mines Ltd. Drill crews are currently completing holes DO-21-314 and DO-21-319 at the Nika and 531 zones, respectively (see news from Dec. 14, 2021). One of the two available drill rigs will then be mobilized to commence a planned 4,000-to-5,000-metre phase 1 drilling program at the company's 100-per-cent-controlled Eagle mine property.

On December 14, 2021, the 50/50 joint venture between Maple Gold Mines Ltd. and Agnico Eagle Mines Ltd. has added a second rig to the JV's fall 2021 drill program at the Douay gold project (see news from Nov. 15, 2021) in Quebec, Canada. In addition, a planned phase I drill program at the company's 100-per-cent-controlled Eagle mine property (see news from Oct. 7, 2021) is now expected to commence in January, 2022, following a short holiday break. The company is also pleased to appoint veteran entrepreneur and current Maple Gold board director Michelle Roth as independent non-executive chair.

On December 09, 2021, Maple Gold Mines Ltd. announced that the company completed the C$7 million bought deal financing, including full exercise of the underwriters’ option.

Matthew Hornor, president and chief executive officer of Maple Gold, commented: "I would like to thank all of our new and existing shareholders for their strong endorsement of Maple Gold's district-scale gold potential and planned exploration activities across our Quebec project portfolio. With the closing of this financing, the company is heading into the winter exploration season with an even healthier treasury that will enable us to ramp up drilling throughout 2022, including at our 100-per-cent-controlled Eagle mine property."

On November 15, 2021, Maple Gold Mines Ltd. announced that the company will resumes drilling at Douay with plans to drill up to 20,000 metres across the company’s project portfolio.

Fall 2021 drilling is under way at Douay with the first drill rig now on site. A second drill rig is expected to arrive in early December to commence a planned phase 1 drill program at the company's 100-per-cent-controlled Eagle mine property (see news from Oct. 7, 2021). Drilling will continue with two rigs through the first quarter of 2022 to test additional targets as part of the JV's planned winter 2022 drill campaign.

October 07, 2021, Maple Gold Mines Ltd. announced that it plans for a 2,500-3,000 metre ("m") Phase I drill program based on the recently completed 3D geological and structural model at the Company's 100% controlled Eagle Mine Property ("Eagle") in Quebec, Canada. 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 ("Joutel") that is held by a 50-50 joint venture ("JV") between the Company and Agnico Eagle Mines Limited ("Agnico").

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.

On October 04, 2021, Maple Gold Mines Ltd. has released results from the final nine holes completed during the 10,217-metre winter drill campaign at the Douay gold project in Quebec, Canada. Douay is held by a 50/50 joint venture between the company and Agnico Eagle Mines Ltd.

Highlights:

  • Drill hole DO-21-295 intersected 334.0 grams per tonne gold over 1.0 metre (from 57.0 m downhole) within the western portion of the Porphyry zone, representing one of the highest-grade intercepts ever encountered at Douay.
  • DO-21-295 also intersected 72.7 g/t Au over 0.7 m (from 358.0 m downhole), beyond the northern extent of the of the 2019 RPA National Instrument 43-101 resource estimate Porphyry zone conceptual pit.
  • At the Main zone, DO-21-304 intersected 1.5 g/t Au over 15.0 m (from 428.0 m downhole), one of the better sediment-hosted intercepts reported to date. In addition, DO-21-306 intersected 4.0 g/t over 5.0 m (from 143.0 m downhole), within a broader and more variable grade envelope that averaged 1.6 g/t over 15.0 m. Additional multigram gold intercepts were obtained from other drill holes in this area.
  • The JV's maiden drill campaign returned three of the top five intercepts ever reported at Douay in terms of gold accumulation (grade multiplied by thickness), validating the company's targeting methodology.

On September 09, 2021, Maple Gold Mines Ltd. has released additional results from the final three holes completed in the 531 zone as well as four regional exploration holes drilled during the 10,217-metre winter drill campaign at the Douay gold project in Quebec, Canada. Douay is held by a 50/50 joint venture between the company and Agnico Eagle Mines Ltd.

Highlights:

  • Drill hole DO-21-310 intersected 28.5 metres of 8.8 grams per tonne gold (from 295.0 m downhole), including 10.0 m of 12.7 g/t Au (from 301.0 m downhole) and 0.5 m of 31.1 g/t Au (from 303.5 m downhole) within the central portion of the 531 zone.
  • DO-21-310 represents by far the best intercept drilled in the 531 zone to date and the second-best intercept ever at Douay in terms of gold accumulation (grade multiplied by thickness).
  • Drill hole DO-21-307 intersected multiple narrow gold zones between 244.8 m and 475.5 m downhole, including 5.2 m of 2.9 g/t Au (from 244.8 m downhole), and 6.5 m averaging 1.32 g/t Au from 282 m downhole.
  • Results are expected to increase the overall grade of the current 2019 RPA 531 zone pit-constrained mineral resource as well as locally upgrade inferred resource blocks.

On August 16, 2021, Maple Gold Mines Ltd. reported the preliminary 3D modelling results from Phase II of a three-phase review of historical drill data at the past-producing, high-grade Telbel underground mine ("Telbel") at the Joutel Gold Project ("Joutel") in Quebec, Canada. Joutel is held by a 50-50 joint venture ("JV") between the Company and Agnico Eagle Mines Limited ("Agnico"). The Phase II work program (see news from May 10, 2021) involved further data verification and analysis of approximately 250,000 metres ("m") of historical drill results and the construction of a new 3D model for drill targeting.

On July 19, 2021, Maple Gold Mines Ltd. announced that it has entered into an option agreement with Globex Mining Enterprises Inc. ("Globex") to acquire a 100% interest in the Eagle Mine Property ("Eagle" or the "Property"), providing a clear path to consolidate the past-producing, high-grade Eagle-Telbel underground mines at the Joutel Gold Project in Quebec, Canada. The Joutel Gold Project ("Joutel") is held by a 50/50 joint venture ("JV") between the Company and Agnico Eagle Mines Limited ("Agnico").

On June 28, 2021, Maple Gold Mines Ltd. reported the results of its annual general and special meeting of shareholders held on Friday, June 25, 2021.

On May 10, 2021, Maple Gold Mines Ltd. has completed the first phase of digitization work on approximately 250,000 metres of historical drilling data at the Joutel gold project in Quebec, Canada. The Joutel Gold Project ("Joutel") is held by a 50/50 joint venture ("JV") between the Company and Agnico Eagle Mines Limited ("Agnico"). The JV is now in the second phase of the digitization process which involves the construction of a 3D model for drill targeting. Initial results and figures generated from this work will be released near the end of Q2/2021.

On April 29, 2021, Maple Gold Mines Ltd. reported that a ~10,000-metre winter drilling campaign has been completed at the Douay Gold Project in Quebec, Canada, which is held by a 50/50 joint venture (the "JV") between the Company and Agnico Eagle Mines Limited. The Company has also received and interpreted initial assay results from the first drill hole of the campaign, which was an infill hole drilled on the eastern side of the Douay West ("DW") Zone and the first hole to be drilled at the zone since 2017.

Highlights from hole DO-21-294 include:

  • 3.80 g/t Au over 15 m (from 32 m downhole), including 4.51 g/t Au over 11 m (from 32 m downhole), corresponding to known near-surface mineralization;
  • 1.45 g/t Au over 3 m (from 79 m downhole); and
  • 2.98 g/t Au over 5 m (from 234 m downhole), corresponding to the actual hole target.

On March 29, 2021, Maple Gold Mines Ltd. has released additional drill results from its fall 2020 campaign and an update on exploration work currently under way at the Douay gold project. Located in Quebec, Canada, the project is held by a 50/50 Joint Venture (the "JV") between Maple Gold and Agnico Eagle Mines Limited.

A highlight was hole DO-20-288 which was drilled at the 531 Zone and encountered multiple higher-grade intercepts. These include:6.95 g/t Au over 1.2 m from 334 m downhole;5.1 g/t Au over 2.0 m from 459 m downhole, including 9.87 g/t Au over 1.0 m; and 3.34 g/t Au over 3.0 m from 465 m downhole, including 8.98 g/t Au over 1.0 m.

On February 10, 2021, Maple Gold Mines Ltd. reported that initial assay results from the first two holes drilled at the regional Northeast IP Target in its Fall 2020 drill campaign at the Douay Gold Project have returned several anomalous gold and silver intercepts indicating the presence of a new sulfide-rich hydrothermal system. The Company also announces that drilling is underway on a planned 10,000-metre Winter 2021 drill campaign.

  • Hole DO-20-285 intercepted multiple gold showings including 2.52 g/t Au over 1 m and 1.29 g/t Au over 0.8 m, along with significant silver (up to 68.2 g/t) and anomalous arsenic, copper (up to 0.19%), antimony, and tellurium.
  • Hole DO-20-284 encountered several narrow zones of gold mineralization between 0.1 and 0.8 g/t Au from 68 to 278 m downhole, along with significant silver (up to 43.7 g/t) and anomalous arsenic, copper (up to 0.15%), antimony, and zinc (up to 0.65%).

On February 3, 2021, Maple Gold Mines Ltd. announced that it has closed its previously announced 50-50 joint venture transaction with Agnico Eagle Mines Ltd., which combines Maple Gold's Douay project and Agnico's Joutel project into a consolidated land package of approximately 400 square kilometres.


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