Mayfair Gold Corp. (“
Mayfair” or the
“
Company”) (
TSX-V: MFG; OTCQB:
MFGCF) is pleased to announce further drill results from
the Fenn-Gib Expansion Zone. The Fenn-Gib deposit, located in the
Timmins region of Northeast Ontario, hosts a pit-constrained
Indicated Resource of 2.08M ounces with disseminated gold
mineralization striking east-west on the Pipestone Fault over 1.25
kilometers and up to 300 meters (m) wide at the west end.
The Fenn-Gib Expansion Zone lies below the
shallow central section of the current conceptual open pit. The
drill results reported below are part of the fully funded, ongoing
80,000m drill program. Resource infill and expansion drilling is
being supported by three drill rigs, and 78 holes have been
completed for a total of 50,145m.
Mayfair Gold President and CEO Patrick Evans
commented: “Our 2021 drill campaign continues to deliver excellent
results with gold mineralization in every hole. We are delighted
that we have now reached the Fenn-Gib 50,000m Phase 1 infill and
expansion drill program milestone earlier than scheduled. We look
forward to continued positive results from the expanded 30,000m
Phase 2 drill program, which we expect to complete in the second
quarter of 2022.”
Mr. Evans added: “We are particularly excited to
start our regional exploration program on both the Fenn-Gib North
and South Blocks in early January. A fourth drill rig will be
mobilized in mid-January for a 7,000m North Block drill program
commencing at the priority Horseshoe target, which is located on
the Pipestone Fault approximately 1 km to the northwest of the
Fenn-Gib deposit. In addition, line cutting and ground geophysics
will commence in early January on the South Block, followed by a
maiden 3,000m drill program.”
Numerous historic drill holes in the upper
Fenn-Gib deposit did not drill through the entire mineralized
stratigraphy, with some holes ending in mineralization. The infill
and expansion drill program within and below the current conceptual
open pit is designed to identify additional mineralization in
support of Mayfair’s target to grow the Fenn-Gib deposit to more
than 3 million ounces.
Drill Results
The Fenn-Gib Expansion Zone drilling is
supported by two of the three drill rigs and is targeting the
shallow central section below the current conceptual open pit.
Highlights of the newly reported mineralized intervals include:
-
FG21-159 intersected 4.95 g/t Au over
7.40m and 0.62 g/t Au over 48.3m,
including 1.06 g/t Au over 21.0m;
-
FG21-167 intersected 0.43 g/t Au over
86.3m, including 2.05 g/t over 2.8m;
-
FG21-171 intersected 1.10 g/t Au over
11.0m and 16.06 g/t Au over 2.0m and
0.85 g/t Au over 114.1m, including 1.22
g/t Au over 65.9m;
-
FG21-175 intersected 0.59 g/t Au over
85.5m, including 1.69 g/t Au over 15.1m; and
-
FG21-177 intersected 1.58 g/t Au over
26.5m and 0.81 g/t Au over 61.9m.
The latest drill results continue to intersect
significant gold mineralization building on the previously reported
Expansion Zone results, including FG21-148 which
intersected 101.0m at a grade of 0.88 g/t
Au, including 51.7m at a grade of 1.16 g/t
Au, hole FG21-149
intersected 101.9m at a grade of 0.75 g/t Au,
including 18.0m at a grade of 1.77 g/t Au, hole
FG21-150 intersected 65.5m at a grade of
1.18 g/t Au, including 10.0m at a grade of 4.24
g/t Au (news release July 27, 2021), and hole
FG21-153 intersected 233.0m at a
grade of 1.05 g/t Au, including 84.0m at a grade
of 1.83 g/t Au, including 25.5m at a grade of 4.70
g/t Au (news release August 17,
2021).
In addition, newly reported Fenn-Gib drill hole
FG21-147b was collared within and close to the
west side of the conceptual open pit wall intersecting within the
open pit 0.33 g/t Au over 28.0m, and 0.98
g/t Au over 30.5m and 0.44 g/t Au over
59.0m, and intersecting outside of the open pit
0.90 g/t over 57.0m and 0.89 g/t Au over
14.0m.
The latest drill results from the central
Expansion Zone and conceptual in-pit drill holes are summarized in
Table 1. Table 2 lists the drill hole details below. Additional
results will be released as they are received.
Table 1 - Fenn-Gib 2021 Drill
Results Summary
Hole Name |
|
FROM (m) |
TO (m) |
INTERVAL (m) |
Au (g/t) |
Fenn-Gib Deposit |
FG21-147b |
|
47.0 |
54.0 |
7.0 |
0.65 |
Inside Conceptual Open Pit |
|
|
132.0 |
160.0 |
28.0 |
0.33 |
Inside Conceptual Open Pit |
|
including |
132.0 |
141.8 |
9.8 |
0.45 |
|
|
|
174.5 |
205.0 |
30.5 |
0.98 |
Inside Conceptual Open Pit |
|
including |
174.5 |
189.0 |
20.5 |
1.27 |
|
|
including |
182.2 |
189.0 |
6.8 |
3.28 |
|
|
|
244.0 |
303.0 |
59.0 |
0.44 |
Inside Conceptual Open Pit |
|
including |
244.0 |
252.0 |
8.0 |
1.24 |
|
|
|
335.0 |
392.0 |
57.0 |
0.90 |
Outside Conceptual Open Pit |
|
including |
335.0 |
361.0 |
26.0 |
1.62 |
|
|
including |
347.9 |
361.0 |
13.1 |
2.55 |
|
|
including |
349.0 |
352.0 |
3.0 |
4.99 |
|
|
|
423.8 |
433.0 |
9.25 |
1.4 |
Outside Conceptual Open Pit |
|
including |
429.0 |
433.0 |
4.0 |
2.72 |
|
|
|
452.0 |
466.0 |
14.0 |
0.89 |
Outside Conceptual Open Pit |
FG21-159 |
|
193.5 |
195.0 |
1.5 |
1.28 |
Expansion Zone. All Intersections below Open Pit |
|
|
257.6 |
265.0 |
7.4 |
4.95 |
|
|
including |
262.0 |
263.0 |
1.0 |
28.15 |
|
|
|
396.0 |
444.3 |
48.3 |
0.62 |
|
|
including |
396.0 |
417.0 |
21.0 |
1.06 |
|
|
|
543.0 |
547.5 |
4.5 |
1.76 |
|
FG21-167 |
|
397.5 |
483.8 |
86.3 |
0.43 |
Expansion Zone. All Intersections below Open Pit |
|
including |
397.5 |
430.0 |
32.5 |
0.68 |
|
|
|
452.9 |
462.0 |
9.1 |
0.55 |
|
|
|
481.0 |
483.8 |
2.8 |
2.05 |
|
FG21-171 |
|
230.5 |
241.5 |
11.0 |
1.10 |
Expansion Zone. All Intersections below Open Pit |
|
including |
235.3 |
237.5 |
2.2 |
4.13 |
|
|
|
260.6 |
262.6 |
2.0 |
16.06 |
|
|
including |
260.6 |
261.7 |
1.1 |
22.92 |
|
|
|
332.0 |
337.5 |
5.5 |
0.96 |
|
|
|
366.0 |
368.2 |
2.2 |
7.95 |
|
|
|
390.0 |
504.1 |
114.1 |
0.85 |
|
|
including |
438.2 |
504.1 |
65.9 |
1.22 |
|
|
including |
495.6 |
504.1 |
8.5 |
2.5 |
|
|
|
539.0 |
542.3 |
3.2 |
2.36 |
|
FG21-175 |
|
356.2 |
441.7 |
85.5 |
0.59 |
Expansion Zone. All Intersections below Open Pit |
|
including |
391.0 |
441.7 |
50.7 |
0.76 |
|
|
including |
426.6 |
441.7 |
15.1 |
1.69 |
|
|
including |
438.0 |
441.7 |
3.7 |
3.81 |
|
FG21-177 |
|
58.0 |
60.0 |
2.0 |
1.46 |
Expansion Zone. All Intersections below Open Pit |
|
|
137.0 |
163.5 |
26.5 |
1.58 |
|
|
including |
140.1 |
141.1 |
1.0 |
7.74 |
|
|
including |
148.0 |
149.0 |
1.0 |
21.86 |
|
|
including |
162.0 |
163.5 |
1.5 |
3.39 |
|
|
|
331.0 |
392.9 |
61.9 |
0.81 |
|
|
including |
331.0 |
333.0 |
2.0 |
7.23 |
|
|
and |
361.0 |
392.9 |
31.9 |
0.93 |
|
|
including |
367.0 |
372.0 |
5.0 |
2.45 |
|
Table 2 - Fenn-Gib 2021 Drill Hole Details
Hole Name |
Collar Easting |
Collar Northing |
Collar Elevation |
Depth |
Collar Azimuth |
Collar Dip |
|
mE |
mN |
masl |
m |
Deg. |
Deg. |
FG21-147b |
558343 |
5375149 |
313.0 |
575.0 |
357.03 |
-54.16 |
FG21-159 |
558928 |
5374895 |
313.0 |
751.5 |
355.95 |
-57.24 |
FG21-167 |
558949 |
5374905 |
313.0 |
624.0 |
356.38 |
-47.66 |
FG21-171 |
558949 |
5374905 |
313.0 |
712.4 |
355.40 |
-58.10 |
FG21-175 |
559227 |
5375094 |
313.0 |
612.0 |
356.37 |
-66.12 |
FG21-177 |
559227 |
5375095 |
313.0 |
564.0 |
358.67 |
-58.34 |
Plan and section maps including the above drill holes can be
found
at https://mayfairgold.ca/fenn-gib/#drillplanmap§ions
QA/QC Controls
Mayfair employs a QA/QC program consistent with
NI 43-101 and industry best practices. Surface drilling was
conducted by Major/Norex Drilling of Timmins, Ontario and was
supervised by the Mayfair exploration team. Mayfair’s drill
program includes descriptive logging and sampling of the drill core
for analysis at Mayfair’s secure facility located in Matheson,
Ontario. Sampled drill core intervals were sawn in half with a
diamond blade saw. Half of the sampled core was left in the core
box and the remaining half was bagged and sealed. Mayfair utilizes
accredited laboratories, and the samples were transported by
Mayfair personnel to the Actlabs laboratory in Timmins, Ontario.
Gold was analyzed by 30-gram fire assay with AA-finish. Certified
reference material (CRM) standards and coarse blank material are
inserted every 20 samples. Drill intercepts cited do not
necessarily represent true widths, unless otherwise
noted.
About Mayfair
Mayfair is a Canadian mineral exploration
company focused on advancing the 100% owned Fenn-Gib gold project
in the Timmins region of Northern Ontario. The Fenn-Gib gold
deposit is Mayfair’s flagship asset. An updated open-pit
constrained NI 43-101 resource estimate (February 5, 2021) reported
a total Indicated Resource of 70.2M tonnes containing 2.08M ounces
at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes
containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit
has a strike length of approx. 1.25km with widths ranging up to
300m. The gold mineralized zones remain open at depth and along
strike to the east and west.
For further information
contact:
Patrick Evans, President and CEOEmail:
patrick@mayfairgold.caPhone: (416) 670-5114Web:
www.mayfairgold.ca
Qualified Person Statement
Mayfair Gold’s disclosure of technical and
scientific information in this news release has been reviewed and
approved by Howard Bird, P Geo., Vice President Exploration for the
Company, who serves as a Qualified Person under the definition of
National Instrument 43-101.
Forward Looking Statements
This news release contains forward-looking
statements and forward-looking information within the meaning of
Canadian securities legislation (collectively,
"forward-looking statements") that relate to
Mayfair’s current expectations and views of future events. Any
statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, assumptions or future
events or performance (often, but not always, through the use of
words or phrases such as "will likely result", "are expected to",
"expects", "will continue", "is anticipated", "anticipates",
"believes", "estimated", "intends", "plans", "forecast",
"projection", "strategy", "objective" and "outlook") are not
historical facts and may be forward-looking statements and may
involve estimates, assumptions and uncertainties which could cause
actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release should not
be unduly relied upon. These statements speak only as of the date
of this news release.
Forward-looking statements are based on a number
of assumptions and are subject to a number of risks and
uncertainties, many of which are beyond Mayfair’s control, which
could cause actual results and events to differ materially from
those that are disclosed in or implied by such forward-looking
statements. Such risks and uncertainties include, but are not
limited to, the impact and progression of the COVID-19 pandemic and
other factors. Mayfair undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law. New factors emerge from time to time, and it is not
possible for Mayfair to predict all of them, or assess the impact
of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from
those contained in any forward-looking statement. Any
forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary
statement.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Mayfair Gold (TSXV:MFG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mayfair Gold (TSXV:MFG)
Historical Stock Chart
From Apr 2023 to Apr 2024