Mayfair Gold Corp. (“
Mayfair” or the
“
Company”) (
TSX-V: MFG; OTC:
MFGCF) is pleased to announce further results from the
Fenn-Gib step-out drill program to the east of the current
resource. The Fenn-Gib deposit, located in the Timmins region of
Northeast Ontario, hosts a NI 43-101 pit-constrained Indicated
Resource of 2.08M ounces (see the “About Mayfair” section below)
with disseminated gold mineralization striking east-west on the
Pipestone Fault over 1.25 kilometers (km) and up to 300 meters (m)
wide at the west end.
Mayfair Gold President and CEO Patrick Evans
commented: “Our step-out drill program to the east of the current
Fenn-Gib deposit continues to return outstanding results. Previous
operators focused on the high-grade starter pit area at the west of
the Fenn-Gib deposit. Only limited drilling was done to define the
continuity of mineralization on strike to the east of the deposit.
Based on results to date, we expect the eastern extension has the
potential to add significant tonnage to the current resource.”
Highlights include:
- FG21-172 intersected 0.50 g/t gold
(Au) over 109.3m, including 0.99 g/t Au over
25.9m;
- FG21-182 intersected 1.54 g/t Au over
22.0m and 0.53 g/t Au over 79.4m;
- FG21-187 intersected 2.82 g/t Au over
22.9m;
- FG21-197 intersected 0.85 g/t Au over
53.0m and 2.25 g/t Au over 33.0m;
- FG21-200 intersected 1.32 g/t Au over
121.0m and 31.28 g/t Au over 1.5m.
The above results support the significant gold
mineralization in previously reported step-out drill results,
including drill hole FG21-168 which intersected 1.02 g/t Au
over 143.7m. FG21-168 was drilled below hole FG-12-27
which intersected 0.78 g/t Au over 56.4m and hole FG-17-128 which
intersected 1.04 g/t Au over 40.7m (news release September 13,
2021).
Results from the latest step-out drilling are
summarized below in Table 1 and drill collar information is
provided in Table 2.
Regional Exploration
Program
Mayfair Gold is also pleased to report that the
drill program has commenced at the Talisman and Horseshoe Zones as
part of the Fenn-Gib North Block regional exploration program. The
Talisman Zone is located approximately 350m west of the Fenn-Gib
deposit, and the Horseshoe Zone is located approximately 500m
northwest of the Fenn-Gib deposit.
The South Block regional exploration program
commenced in January with line-cutting at between 50-and 100-meter
line spacings across the full 7-km strike along the
Destor-Porcupine Fault. Line cutting will be at 50-meter spacings
in priority target areas identified from the airborne magnetic
survey and structural analyses. An Induced Polarization (IP)
geophysical survey is progressing to identify drill targets in
preparation for the maiden 3,000m drill program expected to
commence in Q3 2022. The Destor-Porcupine fault and its splays are
host to McEwen Mining’s producing Black Fox gold mine, located
approximately 7 km to the north-west of the South Block and Moneta
Gold’s reported multimillion-ounce gold resource on the Tower Gold
Project shares a common property boundary to the east of the South
Block.
Fenn-Gib Step-Out Drill
Results
Table 1 - Fenn-Gib Step-Out
Drill Results Summary
Drill Hole |
|
From |
To |
Interval |
Gold |
|
|
meters |
meters |
meters |
grams/tonne |
FG21-162 |
|
154 |
174.5 |
20.5 |
0.77 |
FG21-172 |
|
145.0 |
254.3 |
109.3 |
0.5 |
|
including |
210.1 |
236.0 |
25.9 |
0.99 |
FG21-182 |
|
148.5 |
151.7 |
3.2 |
0.67 |
|
|
243.8 |
265.8 |
22.0 |
1.54 |
|
including |
258.0 |
264.0 |
6.0 |
2.76 |
|
|
345.1 |
424.5 |
79.4 |
0.53 |
|
including |
366.0 |
398.8 |
32.8 |
0.95 |
|
including |
366.0 |
384.0 |
18.0 |
1.43 |
|
and |
395.0 |
398.8 |
3.8 |
1.17 |
FG21-187 |
|
337.9 |
346.1 |
8.2 |
0.93 |
|
|
431.5 |
454.4 |
22.9 |
2.82 |
|
including |
431.5 |
432.5 |
1.0 |
48.20 |
FG21-193 |
|
429.5 |
510.9 |
81.4 |
0.40 |
|
including |
429.5 |
444.0 |
14.5 |
1.18 |
|
including |
429.5 |
431.3 |
1.8 |
6.89 |
|
and |
502.0 |
510.9 |
8.9 |
0.99 |
|
including |
502.0 |
503.0 |
1.0 |
3.77 |
FG21-197 |
|
228.0 |
281.0 |
53.0 |
0.85 |
|
including |
256.0 |
281.0 |
25.0 |
1.43 |
|
|
356.0 |
389.0 |
33.0 |
2.25 |
|
including |
387.5 |
389.0 |
1.5 |
29.55 |
|
|
410.0 |
416.0 |
6.0 |
2.98 |
FG21-200 |
|
202.0 |
323.0 |
121.0 |
1.32 |
|
including |
203.0 |
221.0 |
18.0 |
2.28 |
|
including |
207.0 |
216.0 |
9.0 |
5.05 |
|
and |
261.5 |
284.0 |
22.5 |
1.35 |
|
and |
309.5 |
311.0 |
1.5 |
20.10 |
|
|
392.0 |
393.5 |
1.5 |
31.28 |
Plan and section maps, including the above drill
holes, can be found at
https://mayfairgold.ca/fenn-gib/#drillplan§ionmaps.
Additional drill results from the infill,
expansion and step-out drill program will be announced as soon as
they are received.
Table 2 - Fenn-Gib Drill Collar
Information
Hole Name |
CollarEasting |
CollarNorthing |
CollarElevation |
Depth |
CollarAzimuth |
Collar Dip |
|
mE |
mN |
masl |
m |
Deg. |
Deg. |
FG21-162 |
559681 |
5375213 |
5313.0 |
371.6 |
350.00 |
-50.00 |
FG21-172 |
559628 |
5375157 |
5313.0 |
416.0 |
345.60 |
-60.10 |
FG21-182 |
559700 |
5375150 |
5313.0 |
642.0 |
304.99 |
-49.03 |
FG21-187 |
559700 |
5375150 |
5313.0 |
602.0 |
303.99 |
-59.31 |
FG21-193 |
559621 |
5375158 |
5313.0 |
656.0 |
303.49 |
-66.56 |
FG21-197 |
559621 |
5375158 |
5313.0 |
629.0 |
303.95 |
-53.59 |
FG21-200 |
559621 |
5375158 |
5313.0 |
563.0 |
304.53 |
-48.47 |
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.
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