Mayfair Gold Corp. (“
Mayfair” or the
“
Company”) (
TSX-V: MFG; OTCQB:
MFGCF) is pleased to announce further results from the
Fenn-Gib expansion drill program, which is identifying
mineralization in the Expansion Zone below the shallow central and
eastern area of the current conceptual open pit. Mayfair’s 100%
controlled Fenn-Gib Project, located in the Timmins region of
Northeast Ontario, hosts a NI43-101 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 expansion drill program continues to return
excellent gold results from holes drilled outside the current
Fenn-Gib deposit. We have now completed 71,498m of the fully-funded
80,000m drill program, which is supported by three drill rigs and
expected to be completed in Q2 2022. Subject to the timely receipt
of assay results, Mayfair expects to report an updated NI 43-101
mineral resource for Fenn-Gib during the third quarter of 2022,
with a preliminary economic assessment planned for the fourth
quarter of 2022.”
Mr. Evans added: “We are particularly excited to
report on progress with Mayfair’s regional exploration drill
program, which is designed to identify new deposits at Fenn-Gib.
One drill rig is focused on the North Block where drilling has been
completed at the Talisman Shaft Zone and is now underway at the
Horseshoe Zone. On the very prospective South Block, a second drill
rig collared the first hole last week as part of a planned 3,000m
drill program.”
Highlight drill results include:
- FG21-180
intersected 0.77 grams/tonne (g/t) gold (Au) over
122.8m, including 1.06 g/t Au over
63.3m;
- FG21-189
intersected 0.88 g/t Au over 72.5m, including
2.06 g/t Au over 24.3m;
- FG21-206
intersected 0.93 g/t Au over 134.2m including
1.31 g/t Au over 78.3m;
- FG21-213
intersected 1.02 g/t Au over 92.7m.
The expansion drilling continues 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, and also including 25.5m at a
grade of 4.70 g/t Au (news release August 17,
2021).
The latest reported drill results are summarized in Table 1, and
Table 2 lists the drill hole details below.
Table 1 - Fenn-Gib drill
results summary
Drill Hole |
|
From |
To |
Interval |
Gold |
Name |
|
meters |
meters |
meters |
grams/tonne |
FG21-176 |
|
411.0 |
512.0 |
101.0 |
0.44 |
|
Including |
491.0 |
507.0 |
16.0 |
1.19 |
FG21-180 |
|
420.0 |
542.8 |
122.8 |
0.77 |
|
Including |
479.5 |
542.8 |
63.3 |
1.06 |
FG21-181 |
|
243.0 |
321.6 |
78.6 |
0.41 |
|
Including |
298.4 |
299.9 |
1.5 |
7.50 |
FG21-185 |
|
304.8 |
328.5 |
23.7 |
0.42 |
|
|
348.0 |
371.0 |
23.0 |
0.44 |
FG21-189 |
|
338.0 |
410.5 |
72.5 |
0.88 |
|
Including |
382.0 |
406.3 |
24.3 |
2.06 |
|
And |
397.3 |
406.3 |
9.0 |
4.45 |
FG21-191 |
|
104.0 |
107.0 |
3.0 |
21.84 |
|
|
274.5 |
298.6 |
24.1 |
0.51 |
|
Including |
281.0 |
298.6 |
17.6 |
1.11 |
|
|
340.0 |
341.5 |
1.5 |
7.94 |
FG21-202 |
|
339.7 |
388.2 |
48.5 |
0.81 |
|
Including |
376.0 |
388.2 |
12.2 |
1.73 |
|
|
449.0 |
462.0 |
13.0 |
2.20 |
|
Including |
451.5 |
452.8 |
1.3 |
4.08 |
|
And |
459.0 |
462.0 |
3.0 |
7.15 |
FG21-205 |
|
303.8 |
354.0 |
50.2 |
0.49 |
|
Including |
340.0 |
353.0 |
13.0 |
1.10 |
|
|
391.5 |
393.0 |
1.5 |
16.08 |
FG21-206 |
|
328.0 |
462.2 |
134.2 |
0.93 |
|
Including |
328.0 |
406.3 |
78.3 |
1.31 |
|
And |
328.0 |
337.8 |
9.8 |
3.77 |
|
And |
394.0 |
406.3 |
12.3 |
2.88 |
FG21-209 |
|
273.8 |
315.1 |
41.3 |
0.57 |
|
Including |
305.3 |
310.3 |
5.0 |
2.57 |
FG21-213 |
|
328.5 |
421.2 |
92.7 |
1.02 |
|
Including |
372.0 |
379.5 |
7.5 |
3.91 |
Table 2 - Fenn-Gib reported
drill hole collar information
Hole Name |
Collar Easting |
Collar Northing |
Collar Elevation |
Depth |
Collar Azimuth |
Collar Dip |
|
mE |
mN |
masl |
m |
Deg. |
Deg. |
FG21-176 |
558979.00 |
5374897.00 |
5313.00 |
660.0 |
357.08 |
-49.43 |
FG21-180 |
558980.00 |
5374896.00 |
5313.00 |
741.0 |
354.51 |
-60.53 |
FG21-181 |
559204.00 |
5375089.00 |
5313.00 |
651.0 |
357.64 |
-51.86 |
FG21-185 |
559204.00 |
5375089.00 |
5313.00 |
528.0 |
356.83 |
-57.88 |
FG21-189 |
559203.00 |
5375088.00 |
5313.00 |
639.0 |
350.52 |
-64.85 |
FG21-191 |
559203.00 |
5375089.00 |
5313.00 |
633.0 |
349.29 |
-51.53 |
FG21-202 |
559130.58 |
5375090.26 |
5310.35 |
624.0 |
356.78 |
-65.78 |
FG21-205 |
559130.58 |
5375090.26 |
5310.35 |
582.0 |
356.60 |
-57.88 |
FG21-206 |
558866.00 |
5374940.00 |
5313.00 |
750.0 |
356.37 |
-57.78 |
FG21-209 |
559130.58 |
5375090.26 |
5310.35 |
516.0 |
357.03 |
-51.98 |
FG21-213 |
558866.00 |
5374940.00 |
5313.00 |
727.2 |
355.23 |
-52.23 |
Plan and section maps of the above reported
drill holes are available at
https://mayfairgold.ca/fenn-gib/#drillplanmap§ions.
Additional drill results from the Fenn-Gib infill, expansion and
step-out drill program will be announced as soon as they are
received.
North and South Block Regional Exploration
Program
Mayfair’s fully-funded regional exploration
program is focused on both the Fenn-Gib North Block (32.55km2),
which straddles the Pipestone Fault mineralized corridor, and the
South Block (14.72km2), which straddles the Destor-Porcupine Fault.
The strategically located North and South blocks are separated by
approximately 3km.
On the North Block, drilling
has been completed on the historical Talisman Shaft Zone target,
located approximately 350m west of the Fenn-Gib deposit, with
2,534m drilled in nine holes. Drilling is now underway on the
Horseshoe Zone target, located approximately 500m northwest of the
Fenn-Gib deposit, where three of seven planned holes have been
completed. A total of 7,000m of drilling is planned for the North
Block.
Drilling of the first hole on the South
Block has commenced to evaluate priority gold targets
identified from historical data and recently completed ground
magnetometer and induced polarization surveys. The South Block
straddles the prolific Destor-Porcupine Fault and its splays and is
on trend to McEwen Mining’s Black Fox gold mine located
approximately 7km to the north-west, and Moneta Gold’s reported
multi-million-ounce gold resource on the Tower Gold Project that
shares a common property boundary with Mayfair’s South Block’s
eastern side. A total of 3,000m of drilling is planed for the South
Block.
Results from the regional drill programs will be
released as they become available.
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 twenty 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.ca Phone: (480) 747-3032Web:
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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