Maple Gold’s CEO Matthew Hornor and VP Exploration Fred Speidel to discuss the recently signed strategic partnership agreement with Agnico Eagle (TSX: AEM) and the exploration prospects at the combined property package.
Why we like Maple Gold:
- Great location: Maple Gold’s Douay project is located in the heart of the Abitibi Greenstone Belt in Quebec. Exceptional infrastructure with paved 2-lane highway and high-voltage powerlines on the property, labour and transportation infrastructure nearby.
- Established gold resource: 2.8Moz indicated and inferred resource (at 1.1g/t) with room to grow. MGM drilled an additional 4,370m in 14 holes outside of the current resource in early 2020. Out of the 14 holes drilled, 11 holes hit higher grade gold intercepts that should add to the resource, including 75m of 1.23g/t Au, and 17m of 1.91g/Au.
- Joint venture and strategic partnership with Agnico Eagle: on October 8th, MGM announced a 50/50 JV on Maple’s Douay project combined with AEM’s Joutel project. Agnico is expected to invest $6.2M at $0.24. This includes 3 year warrants at $0.34. Agnico will nominate a board member to MGM’s board and has a two year standstill. AEM will have a 19.9% ownership (12.8% fully diluted) and will support third-party project financing.
- With the Agnico Eagle partnership in place, Maple Gold will have over $30 million in available cash and committed JV funds to advance its project as well as pursue other corporate growth opportunities in Canada
- Catalyst rich with ongoing drilling: Upcoming exploration work to include 3,000m drill program focused on testing new discovery targets with the potential to find higher-grade material. It plans to continue drilling step-out holes near its resource in the wintertime with a 10,000m+ program in order to release an updated resource estimate in H2/2020.