Tuesday, January 10, 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 drilling program. In 2022, Maple Gold completed a total of 28 drill holes representing 13,823 meters of drilling at its 100%-controlled Eagle Mine property. Maple Gold released assay results from five follow-up holes that targeted northwest extensions of the main mine horizon and multiple sub-parallel gold horizons. Hole EM-22-015 returned seven discrete intercepts over a 120-meter interval, including 10.3 grams of gold per tonne over 7.8 meters in the North Mine Horizon.
Potential for a broader mineralized zone. Drill results appear to support Maple’s view that multiple sub-parallel gold horizons exist beyond what was historically mined at Eagle, along with expanding target areas along a broader mineralized corridor. Management believes a concentration of gold in excess of 10 grams per tonne begins near surface and extends down-plunge to Hole EM-22-015 intercepts along the North Mine Horizon in an area with limited drilling that represents just one of several follow-up targets that the company will pursue in 2023.
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