Mayfair Gold Corp. (“
Mayfair” or the
“
Company”) (
TSX-V: MFG; OTC:
MFGCF) is pleased to announce positive results from the
Company’s 2022 preliminary metallurgical gold recovery test (“MET”)
program performed on seven separate composited core‐based bulk
samples from the Fenn-Gib deposit. The MET campaign is managed by
Ausenco Engineering Canada Inc. (“Ausenco”) as part of the planned
preliminary economic assessment (“PEA”) expected to be completed by
Q4 2022. The 100% controlled 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 is up to 300 meters (m) wide at the west end.
Mayfair Gold President and CEO Patrick Evans
commented: “Our maiden MET campaign confirms that the Fenn-Gib
deposit can deliver robust recoveries for both direct whole ore
cyanidation and flotation. While varying in sulfide content, values
associated with Fenn-Gib ore are not considered refractory. We are
particularly excited about the benefits that flotation may
potentially offer for the project economics. The MET results
indicate that Fenn-Gib can deliver a clean, high-grade
sulfide-and-iron-rich gold concentrate that would be very suitable
for milling in conventional leaching or autoclave operations.
Importantly, flotation has the potential to significantly reduce
capital and operating costs, expedite permitting and materially
reduce final closure and reclamation costs.”
The MET program was conducted to assess the
potential gold recoveries and to support the selection of the most
appropriate process flowsheet for the Fenn-Gib deposit. Ausenco
selected seven different drill hole sample locations to be
spatially distributed within the conceptual open pit shell, as well
as to align with the estimated average gold grade. The program was
performed on the seven composited diamond drill core samples
collected from NQ size half core taken from the 2021 drill program.
Five of the samples are from the central, south, and east areas of
the Fenn-Gib deposit, and the sixth is from the Footwall
mineralization that lies within the conceptual open pit. The
seventh composited sample is from the Footwall Zone outside of the
conceptual open pit, which has potential for inclusion in future
conceptual mine plans.
Three primary processing options for gold
recovery were undertaken by SGS Minerals Services, including whole
ore leach, flotation and flotation regrind leach. The tables below
summarize the MET test results.
Table 1 below summarizes the whole ore
cyanidation leach test results for the Fenn-Gib Main/Deformation
Zone.
Table 1 - Main/Deformation Zone whole ore cyanidation
results
Sample |
Head Grade (Au g/t) |
Grind P80
(μm) |
Leach Time (h) |
Recovery (Au %) |
Central Pit Upper |
1.00 |
59 |
48 |
79.0 |
Central Pit Mid |
1.27 |
62 |
48 |
83.4 |
Central Pit Lower |
2.93 |
55 |
48 |
91.4 |
South Pit |
0.98 |
63 |
48 |
88.8 |
East Pit |
0.75 |
59 |
48 |
78.8 |
The overall average recovery is 84.3%, with the
best results in the central and south portions of the conceptual
open pit.
Table 2 below summarizes the flotation test
results for the Fenn-Gib Main/Deformation Zone.
Table 2 - Main/Deformation Zone flotation
results
Sample |
Head Grade |
Rougher Concentrate |
Cleaner Concentrate |
Recovery (% of circuit feed) |
Grade |
Recovery (% of circuit feed) |
Grade |
Au (g/t) |
S (%) |
Mass |
Au |
Au (g/t) |
Mass |
Au |
Au (g/t) |
Central Pit Upper |
1.00 |
3.02 |
15.6 |
96.0 |
6.46 |
6.3 |
93.7 |
15.6 |
Central Pit Mid |
1.27 |
2.22 |
12..2 |
95.3 |
8.80 |
3.8 |
93.0 |
27.4 |
Central Pit Lower |
2.93 |
0.94 |
14.7 |
95.8 |
9.32 |
2.0 |
94.3 |
66.7 |
South Pit |
0.98 |
2.62 |
24.4 |
95.1 |
3.59 |
3.8 |
93.0 |
13.3 |
East Pit |
0.75 |
1.84 |
20.8 |
97.9 |
3.58 |
4.7 |
95.1 |
15.4 |
Samples were ground to 80% passing approximately
70 µm prior to flotation, and flotation concentrates were reground
to approximately 80% passing approximately 15 µm. Concentrate
grades and recoveries were achieved with three cleaning stages.
Concentrates contain between 80% and 95% pyrite. Final concentrate
gold grades are sufficiently high to be sold for potential
third-party processing in conjunction with the high pyrite
contents.
Table 3 below summarizes the flotation regrind
leach test results for the Fenn-Gib Main/Deformation Zone.
Table 3 - Main/Deformation Zone flotation regrind leach
test results
Sample |
Head Grade (Au g/t) |
Regrind P80
(μm) |
Leach Time (h) |
Recovery (Au %) |
RougherConcentrate |
Leach |
Overall |
Central Pit Upper |
1.00 |
17 |
48 |
96.0 |
87.9 |
84.4 |
Central Pit Mid |
1.27 |
14 |
48 |
95.3 |
89.9 |
85.7 |
Central Pit Lower |
2.93 |
12 |
48 |
95.8 |
96.6 |
92.5 |
South Pit |
0.98 |
18 |
48 |
95.1 |
87.9 |
83.6 |
East Pit |
0.75 |
15 |
48 |
97.9 |
88.3 |
86.4 |
Regrinding and leaching of flotation
concentrates provides slightly higher recoveries than whole ore
leaching subject to economic analysis.
Table 4 below summarises whole ore cyanidation
results for the Fenn-Gib Footwall Zone.
Table 4 - Footwall Zone whole ore cyanidation
results
Sample |
Head Grade (Au g/t) |
Grind P80
(μm) |
Leach Time (h) |
Recovery (Au %) |
Footwall |
0.55 |
59 |
48 |
59.8 |
Footwall U/G |
3.38 |
59 |
48 |
94.2 |
The low head grade of the Footwall sample is a
contributing factor in the low recovery. The Footwall
U/G sample shows good metallurgy with high recoveries at a typical
underground gold grade.
Table 5 below summarises the flotation test
results for the Fenn-Gib Footwall Zone.
Table 5 - Footwall Zone flotation results
Sample |
Head Grade |
Rougher Concentrate |
Cleaner Concentrate |
Recovery (% of circuit feed) |
Grade |
Recovery (% of circuit feed) |
Grade |
Au (g/t) |
S (%) |
Mass |
Au |
Au (g/t) |
Mass |
Au |
Au (g/t) |
Footwall |
0.55 |
4.64 |
22.0 |
94.3 |
2.33 |
9.7 |
89.3 |
5.01 |
Footwall U/G |
3.38 |
2.81 |
17.94 |
93.5 |
17.9 |
5.0 |
91.5 |
58.4 |
Table 6 below summarizes the flotation regrind
leach test results for the Fenn-Gib Footwall Zone.
Table 6 - Footwall Zone flotation regrind
results
Sample |
Head Grade(Au g/t) |
Regrind
P80(μm) |
Leach Time(h) |
Recovery (Au %) |
RougherConcentrate |
Leach |
Overall |
Footwall |
0.55 |
23 |
48 |
94.3 |
63.6 |
60.0 |
Footwall U/G |
3.38 |
15 |
48 |
93.5 |
97.5 |
91.2 |
The Footwall sample recovery is comparable to
the whole ore leach recovery, while the Footwall U/G sample is
lower.
Based on the above results, Ausenco will
undertake a trade-off study between the three selected process
flowsheets in preparation for the PEA that will commence on
completion of the 80,000m infill and expansion drill program
currently underway. Approx. 66,000m of drilling has been completed
to date. The drill program is on target for completion by mid-2022
and is expected to support a resource update by Q3 2022.
QA/QC
For this metallurgical study, NQ sized drill
core was logged, sawn in half with the half core sampled and bagged
and sent to Actlabs laboratory in Timmins for gold assays on
individual samples (see Mayfair QA/QC below). For the metallurgical
test work at SGS Canada Inc. (SGS) laboratories, the Actlabs
gold assay results were used by Mayfair and Ausenco (managing the
SGS test work) to produce seven sample composites from the
remaining sawn half core to best represent a range of locations
within the Fenn-Gib deposit. The remaining half core was sampled by
Mayfair staff, bagged and sent to SGS. SGS conducted the
metallurgical test work at the SGS Lakefield, Ontario laboratory.
SGS conforms to the requirements of ISO/IEC 17025 and is accredited
by the Standards Council of Canada for the specific tests
undertaken.
Mayfair employs a QA/QC program consistent with
NI 43-101 and industry best practices. Surface drilling is
conducted by Major/Norex Drilling of Timmins, Ontario and is
supervised by Mayfair’s 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 are sawn in half with diamond
blade saws. Half of the sampled core is left in the core box and
the remaining half is bagged and sealed. Mayfair utilizes
accredited laboratories and the samples are transported by Mayfair
personnel to the Actlabs laboratory in Timmins, Ontario. Gold is
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 70.2 M tonnes containing 2.08 M
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. 1.25 km with widths ranging
up to 300 m. 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 regard to the drill program, core
sampling and assay results 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.
The metallurgical test program is managed and
overseen by Ausenco Engineering Canada Inc. and the disclosure of
the technical and scientific information regarding the
metallurgical test program in this news release has been reviewed
and approved by Tommaso Roberto Raponi, P. Eng. of Ausenco
Engineering Canada Inc., 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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