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Maple Gold updates Douay Resource Estimate, increasing contained ounces and converting more than 450,000 ounces into Indicated Resources14.02.2018 | 13:00 Uhr | GlobeNewswire
MONTREAL, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V:MGM) (OTCQB:MGMLF) (Frankfurt:M3G) is pleased to announce an updated Mineral Resource Estimate (the “updated estimate”) for the Company’s Douay Gold Project (“Douay”), as prepared by Micon International Limited (“Micon”). The updated estimate includes additional drilling and assays from work completed during 2017 (see press release January 25, 2018), with updated block model wireframes, modified search ellipses and modified geologic interpretations, all of which targeted a more refined and constrained model.
The updated estimate successfully converts a significant proportion of Inferred Resources to the Indicated Resource category, which were absent from the 2017 Micon estimate. Mineral Resources at Douay are now estimated as 9,383,000 tonnes grading 1.59 g/t Au (0.48 million ounces) in the Indicated category, plus 84,152,000 tonnes grading 1.02 g/t Au (2.76 million ounces) in the Inferred category, using a 0.45 g/t cut-off grade (updated base-case) as highlighted below:
*See Table 2 for additional cut-off grades & see disclosure notes appended to this press release At a 0.5 g/t Au cut-off (same as Micon 2017), the updated 2018 estimate shows increased average grade of Inferred Resources (1.09 versus 1.05 g/t Au), increased level of confidence (addition of 467,000 contained ounces in the Indicated category) and increased contained ounces compared to the previous estimate (see Table 2 below). However, using a 0.45 g/t cut-off grade is currently believed to be the most optimal for currently contemplated conceptual pit-scenarios, and therefore has been selected as the base-case for the updated estimate. The Company will continue examining different scenarios as part of the ongoing evaluation process as new data is added and geological and economic models are updated. Indicated Resources are present in the more closely drilled Douay West Zone (3,693,000 tonnes at 2.47 g/t Au, 294,000 ounces), and there are also four such areas within the Porphyry Zone (5,690,000 tonnes at 1.01 g/t Au, 185,000 ounces). The Indicated and Inferred Resources at various cut-off grades are summarized below in Table 2 below. Maple Gold’s President & CEO, Matthew Hornor, stated: “We are pleased to enter the winter drilling season with an updated resource base that improves on the previous estimate in multiple ways, including a material increase in the number of contained ounces and upgrading a portion of the previously reported inferred resource to indicated resources of more than 450,000 ounces. We expect additional drill rigs to arrive at site very shortly and look forward to testing further infill, step-out and new discovery targets this winter.”
*For Comparison purposes: Micon 2017 estimate was all Inferred Resources of 83,327,000 tonnes grading 1.05 g/t Au for 2,813,000 contained ounces, using a 0.50 g/t cut-off grade. **Base-case. See disclosure notes appended to this press release. The modelling changes, additional drilling and assay data, and updated interpretations have variably impacted contained ounces at each of the zones at Douay. A number of the zones appear to be merging into a larger unified system and a portion of the Company’s current and future drilling campaigns will continue to test targets that support this thesis. Figure 1 highlights the updated resource areas and conceptual pit shells. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eab663f5-0463-435b-bf51-03214ca65954 For comparison purposes, click here to view the conceptual pit-constrained plan view used in the Micon 2017 resource estimate. Further information about assumptions, parameters, methods and risks in respect of the updated estimate will be available in a NI 43-101 technical report filed by Maple Gold on Sedar within 45 days following the date of this press release. Notes:
Qualified Persons The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration, of Maple Gold Mines. The technical contents of this press release have also been reviewed and approved by Mr. William Lewis, B.Sc., P. Geo., of Micon, who is independent of Maple Gold and who is responsible for the Updated Pit-Constrained Mineral Resource Estimate. Both individuals are Qualified Persons under National Instrument 43-101 Standards of Disclosure for Mineral Projects. About Micon International Limited Micon International Limited (Micon), mineral industry consultants, is an independent firm of senior geological, mining, metallurgical and environmental consultants. The firm operates from integrated offices in Toronto and Vancouver, Canada and Norwich and Cornwall, United Kingdom. The professionals of Micon have extensive experience in the mining industry with both mining companies and leading consultancy firms. About Maple Gold Maple Gold is a well-funded gold exploration company focused on advancing a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 370 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold has a significant drill campaign under way to expand on the known Resource Areas and test new discovery targets within the Company’s 55 km of strike along the Casa Berardi Deformation Zone. For more information, please visit www.maplegoldmines.com. ON BEHALF OF MAPLE GOLD MINES LTD. “Matthew Hornor” B. Matthew Hornor, President & CEO For Further Information, Please Contact: NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE. Forward Looking Statements: Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. Dieser Artikel stammt von Rohstoff-Welt.de
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