Thursday, January 23, 2025
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Phase I Drilling at Douay. Maple Gold Mines commenced a Phase I diamond drilling program at the Douay Gold project that is expected to last three to four months. The company’s drilling program will entail a minimum of 10,000 meters of diamond drilling, with ~70% dedicated to de-risking and expanding the Douay mineral resource and 30% for testing new regional geological and geophysical targets. At the Douay gold project, the goal is to expand and upgrade the current three-million-ounce gold resource to five million ounces. The first phase will target shallow portions of the Douay system at a vertical depth of less than 500 meters, while the second phase will test vertical depths greater than 500 meters.
Drilling at Joutel is planned in 2H 2025. An additional 3,000 meters of diamond drilling is planned at Joutel in the second half of 2025 to extend the known high-grade gold mineralization along the past-producing Eagle-Telbel mine trend.
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