# Maple Gold Reports Updated Mineral Resource Estimate for the Douay/Joutel Gold Project, Québec, Including a Maiden High-Grade Underground Mineral Resource Estimate at Joutel

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6

Original source: https://orestocks.com/company/MGM.V/press-releases/7196548311942786

Publisher: orestocks

Original announcement: 2026-04-27T15:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-01T04:05:45.140Z

Atlas analysis updated: 2026-10-01T04:05:45.140Z

- Company: Maple Gold Mines Ltd.

- Ticker: MGM.V

- Exchange: Unavailable

- Region: Québec

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update

- Extracted: 2026-10-01 04:05:45 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Maple Gold Mines has reported a significant update to its Mineral Resource Estimate for the Douay/Joutel Gold Project in Québec, increasing total indicated resources by 77% to 905,000 gold ounces and total inferred resources by 70% to 4,279,000 gold ounces. The update includes a maiden high-grade underground resource at Joutel and further conversion of inferred to indicated resources at Douay. The estimate is NI 43-101 compliant and was prepared by SLR Consulting.

Reasoning: The updated Mineral Resource Estimate for the Douay/Joutel Gold Project demonstrates significant growth in both indicated and inferred gold ounces, including a maiden high-grade underground resource at Joutel. While overall contained metal increased substantially, there was some grade dilution, partly due to lower cut-off grades compared to the previous estimate. The estimate is NI 43-101 compliant and signed by a Qualified Person, providing high confidence.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Positive factor: Maiden Resource

- Positive factor: Category Upgrade

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

- Negative factor: Dilutive Growth

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 10

## Classification and evidence

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: Total Project Indicated Resources Increased 77% and Total Project Inferred Resources Increased 70% compared to the prior estimate.

Evidence · text

> Total Project Indicated Resources Increase 77% to 905,000 Gold Ounces \(19.1 Mt at 1.55 g/t Au\) and Total Project Inferred Resources Increase 70% to 4,279,000 Gold Ounces \(130.2 Mt at 0.88 g/t Au\)

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: Total Project Indicated Resources Increased 77% to 905,000 Gold Ounces and Total Project Inferred Resources Increased 70% to 4,279,000 Gold Ounces compared to the prior estimate.

Evidence · text

> Total Project Indicated Resources Increase 77% to 905,000 Gold Ounces \(19.1 Mt at 1.55 g/t Au\) and Total Project Inferred Resources Increase 70% to 4,279,000 Gold Ounces \(130.2 Mt at 0.88 g/t Au\)

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The 2026 MRE includes a maiden high-grade underground Mineral Resource at Joutel.

Evidence · text

> The 2026 MRE also includes a maiden high-grade underground Mineral Resource at Joutel

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document announces a significant update to the independent Mineral Resource Estimate.

Evidence · text

> significant update to the independent Mineral Resource Estimate \("2026 MRE"\)

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The MRE was prepared in accordance with Canadian National Instrument 43-101.

Evidence · text

> prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum \("CIM"\) Definition Standards \(2014\) incorporated by reference in Canadian National Instrument 43-101 \("NI 43-101"\)

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Mr. Denis Decharte, P.Eng., an employee of SLR, is a 'Qualified Person' for NI 43-101 and has approved the contents.

Evidence · text

> Mr. Denis Decharte, P.Eng., an employee of SLR and independent of Maple Gold. By virtue of his education and relevant experience, Mr. Decharte is a "Qualified Person" for the purpose of NI 43-101.

**Category Upgrade**

Polarity: positive

Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.

Why it applies: The MRE update includes further conversion from Inferred to Indicated Mineral Resource categories.

Evidence · text

> further conversion from Inferred to Indicated Mineral Resource categories based on successful exploration and infill drilling

**Cut-off Lowered**

Polarity: negative

Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.

Why it applies: Douay Pit-constrained MRE uses a 0.35 g/t Au COG compared to 0.45 g/t Au for the 2022 MRE, and Douay Underground MRE uses 0.98 g/t Au COG compared to 1.15 g/t Au for the 2022 MRE.

Evidence · text

> Douay Pit-constrained Mineral Resources for the SLR 2026 MRE are reported above a 0.35 g/t Au COG compared to a 0.45 g/t Au COG for the SLR 2022 MRE. Douay Underground Mineral Resources are reported above a 0.98 g/t Au cut-off grade for the SLR 2026 MRE compared to a 1.15 g/t Au cut-off grade for the SLR 2022 MRE.

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: The comparison table shows grade variances of -17% for Douay Open Pit Indicated, -18% for Douay Open Pit Inferred, -11% for Douay Underground Inferred, and -14% for total Inferred resources.

Evidence · table

> -17%

Context: 1.59

**Dilutive Growth**

Polarity: negative

Definition: Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: While tonnage and contained metal increased significantly, the average grades for several categories declined, indicating that some growth was achieved by including lower-grade material, partly due to lower cut-off grades.

Evidence · text

> Total Project Indicated Resources Increase 77% to 905,000 Gold Ounces \(19.1 Mt at 1.55 g/t Au\) and Total Project Inferred Resources Increase 70% to 4,279,000 Gold Ounces \(130.2 Mt at 0.88 g/t Au\)

## Extracted facts

Stored fact records: 10. Some facts used in scoring do not have a stored record.

## Resource Estimates (10)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-0)

Douay · gold

#### Identity

- Project: Douay
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:c8f64465084b55cecc44

#### Resource Data

- Category: indicated
- Tonnes: 17300000
- Grade: 1.31
- Grade Unit: g/t
- Contained Metal: 731
- Contained Unit: koz
- Cutoff Grade: 0.35
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Tonnes: 10000000
- Prior Grade: 1.59
- Prior Contained Metal: 511
- Prior Cutoff Grade: 0.45

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: Indicated open pit tonnage for Douay increased by 73% and contained metal by 43%, but the average grade decreased by 17%, partly due to a lower cut-off grade compared to the prior estimate.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

Evidence · table

> 1.31

Context: 17.3

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 17300000 against 10000000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 1.31 against 1.59 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 731 against 511 previously

**Cut-off Lowered**

Polarity: negative

Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.

Why it applies: 0.35 against 0.45 previously

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-1)

Douay · gold

#### Identity

- Project: Douay
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:884413c635378870ab2a

#### Resource Data

- Category: inferred
- Tonnes: 111100000
- Grade: 0.77
- Grade Unit: g/t
- Contained Metal: 2744
- Contained Unit: koz
- Cutoff Grade: 0.35
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Tonnes: 68200000
- Prior Grade: 0.94
- Prior Contained Metal: 2065
- Prior Cutoff Grade: 0.45

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: Inferred open pit tonnage for Douay increased by 63% and contained metal by 33%, but the average grade decreased by 18%, partly due to a lower cut-off grade compared to the prior estimate.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

Evidence · table

> 0.77

Context: 111.1

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 111100000 against 68200000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.77 against 0.94 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 2744 against 2065 previously

**Cut-off Lowered**

Polarity: negative

Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.

Why it applies: 0.35 against 0.45 previously

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-2)

Douay · gold

#### Identity

- Project: Douay
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:a79cec64f76a466f5905

#### Resource Data

- Category: indicated
- Tonnes: 900000
- Grade: 1.66
- Grade Unit: g/t
- Contained Metal: 48
- Contained Unit: koz
- Cutoff Grade: 0.98
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Cutoff Grade: 1.15

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: This is a new Indicated underground resource for Douay, with a lower cut-off grade than the prior underground estimate, contributing to resource growth.

- Positive factor: Category Upgrade

- Negative factor: Cut-off Lowered

Evidence · table

> 1.66

Context: 0.9

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Cut-off Lowered**

Polarity: negative

Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.

Why it applies: 0.98 against 1.15 previously

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-3)

Douay · gold

#### Identity

- Project: Douay
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:fc69a22fb12f12a8af28

#### Resource Data

- Category: inferred
- Tonnes: 11700000
- Grade: 1.5
- Grade Unit: g/t
- Contained Metal: 560
- Contained Unit: koz
- Cutoff Grade: 0.98
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Tonnes: 8500000
- Prior Grade: 1.68
- Prior Contained Metal: 460
- Prior Cutoff Grade: 1.15

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: Inferred underground tonnage for Douay increased by 37% and contained metal by 22%, but the average grade decreased by 11%, partly due to a lower cut-off grade compared to the prior estimate.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

Evidence · table

> 1.50

Context: 11.7

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 11700000 against 8500000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 1.5 against 1.68 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 560 against 460 previously

**Cut-off Lowered**

Polarity: negative

Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.

Why it applies: 0.98 against 1.15 previously

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-4)

Douay · gold

#### Identity

- Project: Douay
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:611e76bc525a2b7a4ba3
- Deposit or zone: Douay Total

#### Resource Data

- Category: indicated
- Tonnes: 18200000
- Grade: 1.33
- Grade Unit: g/t
- Contained Metal: 779
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Tonnes: 10000000
- Prior Grade: 1.59
- Prior Contained Metal: 511

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: Total indicated resources for Douay increased by 82% in tonnage and 52% in contained metal, but the average grade decreased by 16%, influenced by lower cut-off grades for both open pit and underground components.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

Evidence · table

> 1.33

Context: 18.2

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 18200000 against 10000000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 1.33 against 1.59 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 779 against 511 previously

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-5)

Douay · gold

#### Identity

- Project: Douay
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:6e00b5a1ba95ad8c84d1
- Deposit or zone: Douay Total

#### Resource Data

- Category: inferred
- Tonnes: 122700000
- Grade: 0.84
- Grade Unit: g/t
- Contained Metal: 3305
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Tonnes: 76700000
- Prior Grade: 1.02
- Prior Contained Metal: 2525

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: Total inferred resources for Douay increased by 60% in tonnage and 31% in contained metal, but the average grade decreased by 18%, influenced by lower cut-off grades for both open pit and underground components.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

Evidence · table

> 0.84

Context: 122.7

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 122700000 against 76700000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.84 against 1.02 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 3305 against 2525 previously

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-6)

Joutel · gold

#### Identity

- Project: Joutel
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:1757f49bed9ff99a35e4

#### Resource Data

- Category: indicated
- Tonnes: 900000
- Grade: 4.53
- Grade Unit: g/t
- Contained Metal: 126
- Contained Unit: koz
- Cutoff Grade: 1.7
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-24

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: This is a maiden high-grade underground Indicated resource for Joutel, adding a significant new component to the project's overall resource base.

- Positive factor: Maiden Resource

- Positive factor: High Grade

Evidence · table

> 4.53

Context: 0.9

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-7)

Joutel · gold

#### Identity

- Project: Joutel
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:9c427f6eab066d3ccb43

#### Resource Data

- Category: inferred
- Tonnes: 7500000
- Grade: 4.11
- Grade Unit: g/t
- Contained Metal: 992
- Contained Unit: koz
- Cutoff Grade: 1.7
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-24

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: This is a maiden high-grade underground Inferred resource for Joutel, adding a significant new component to the project's overall resource base.

- Positive factor: Maiden Resource

- Positive factor: High Grade

Evidence · table

> 4.11

Context: 7.5

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-8)

Douay/Joutel · gold

#### Identity

- Project: Douay/Joutel
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:2c87b0911694fab02d88
- Deposit or zone: Douay and Joutel Total

#### Resource Data

- Category: indicated
- Tonnes: 19100000
- Grade: 1.55
- Grade Unit: g/t
- Contained Metal: 905
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Tonnes: 10000000
- Prior Grade: 1.59
- Prior Contained Metal: 511

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: Total indicated resources for the combined Douay/Joutel project increased by 91% in tonnage and 77% in contained metal, despite a slight grade decrease of 2%, reflecting significant overall growth.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

Evidence · table

> 1.55

Context: 19.1

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 19100000 against 10000000 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 905 against 511 previously

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-reports-updated-mineral-resource-estimate-for-the-douay-joutel-gold-p--07480f86-936d-40c4-bca3-fa63cf3544d6#fact-resource-facts-9)

Douay/Joutel · gold

#### Identity

- Project: Douay/Joutel
- Commodity: gold
- Region: canada\_qc
- Reported Region: Québec
- Ticker: MGM.V

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Denis Decharte
- Resource group id: resource:2f9171dd3f4f155bcbc7
- Deposit or zone: Douay and Joutel Total

#### Resource Data

- Category: inferred
- Tonnes: 130200000
- Grade: 0.88
- Grade Unit: g/t
- Contained Metal: 4297
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2026-04-24
- Prior Tonnes: 76700000
- Prior Grade: 1.02
- Prior Contained Metal: 2525

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-27T00:00:00.000Z

Reasoning: Total inferred resources for the combined Douay/Joutel project increased by 70% in tonnage and 70% in contained metal, despite a grade decrease of 14%, reflecting significant overall growth.

- Positive factor: Tonnage Growth

- Positive factor: Contained Metal Growth

- Negative factor: Grade Decline

- Negative factor: Cut-off Lowered

Evidence · table

> 0.88

Context: 130.2

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 130200000 against 76700000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.88 against 1.02 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 4297 against 2525 previously

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.