Currently viewing Global edition

Maple Gold lifts Douay's indicated resources by 21%

Maple Gold Mines has updated the mineral resource estimate for its Douay gold project in Quebec, Canada, with a 21% lift to indicated resources and a 7% rise in inferred resources. 
Maple Gold lifts Douay's indicated resources by 21% Maple Gold lifts Douay's indicated resources by 21% Maple Gold lifts Douay's indicated resources by 21% Maple Gold lifts Douay's indicated resources by 21% Maple Gold lifts Douay's indicated resources by 21%

Nathan Richardson

That has taken indicated resources to 511,000 ounces of gold and inferred resources to 2.53 million ounces of gold. 

"Targeted infill drilling demonstrates the potential for future resource conversion within the currently defined mineralised zones and continues to de-risk the deposit. However, the updated model that underpins the 2022 MRE indicates significant room for growth," Maple Gold's president and CEO, Matthew Hornor, said. 

Maple Gold is advancing the property - along with the Joutel property, which is also located in Quebec's Abitibi Greenstone Gold Belt - through a 50/50 joint-venture partnership with Agnico Eagle Mines. 

Maple Gold said the benefits of the projects include "exceptional infrastructure access" and about 400sq km of highly prospective ground, including an established gold resource at Douay, past-producing Eagle, Telbel, and Eagle West mines at Joutel. 

Maple Gold was quoted on the Toronto Stock Exchange at C$0.345/share on March 20, which was up 1% day-on-day. The company had a market capitalisation of C$111.15 million.