Thursday, August 04, 2022
Maple Gold Mines (MGMLF)
Deep Drill Program Commences at Joutel
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
What’s past is prologue. In August 2021, Maple Gold reported 3D modeling results for the main mine trend at the Telbel mine within the Joutel Project which is held in the company’s joint venture with Agnico Eagle. The results were based on the digitization of more than 250,000 meters of historical drill data which highlighted the potential for higher-grade gold mineralization above and below the historic mine workings along with additional discovery targets. While past gold production at Telbel focused on a single zone between 500 to 1,050 meters, data digitization and 3D modeling identified significant gold intercepts up to approximately 1,400 meters below surface.
Deep drilling program commences. While one drill rig continues Phase II drilling at its 100%-controlled Eagle Project, a second drill rig has been mobilized to commence a 6,000-meter-deep drilling program at the Joutel Project. The deep drilling program will entail three drill holes in the Telbel mine area beneath and adjacent to historic underground mine workings which extend to roughly 1,200 meters below surface. The program represents the first drilling at Telbel since the early 1990s. …
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
