Maple Gold Mines (MGMLF) – High Expectations for the 2023 Drilling Program at Eagle

Natural Resources
0 min read

Friday, March 17, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Eagle follow-up drill program. Drill target definition and permitting has been initiated for a planned ~5,000 meter follow-up drill program in 2023 at the company’s 100%-controlled Eagle Mine property that will test undrilled zones with significant grade and volume potential.

Targeting a broad mineralized zone. In 2022, Maple Gold completed a total of 30 drill holes representing approximately 14,500 meters of drilling at Eagle. Results to date highlight the existence of multiple sub-parallel gold horizons over a greater than 100-meter mineralized corridor beyond what was historically mined at Eagle. The immediate focus of 2023 drilling will be potential extensions of known high-grade mineralization, including areas up and down plunge of Hole EM-22-015 which returned seven intercepts over a 120-meter interval, including 10.3 grams of gold per tonne over 7.8 meters in the North Mine Horizon.

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