Mayfair Gold Corp. (“
Mayfair” or the
“
Company”) (
TSX-V:
MFG; OTCQB:
MFGCF) is pleased to announce further results from
the higher-grade Footwall Zone located approximately 100 meters (m)
to the north of the Fenn-Gib gold deposit. Mayfair’s 100%
controlled Fenn-Gib Project, located in the Timmins region of
Northeast Ontario, hosts a NI 43-101 open-pit-constrained Indicated
Resource of 3.06 million (M) ounces and an Inferred Resource of
0.31M ounces (see the “About Mayfair” section below), with
disseminated gold mineralization striking east-west on the
Pipestone Fault over more than 1.25 kilometers (km) and up to 300m
wide at the west end.
Mayfair Gold President and CEO, Patrick Evans,
commented: “Ongoing drilling in 2023 has extended the northeastern
strike of the Footwall Zone mineralized structure by approximately
200m in six drill holes. The Footwall Zone mineralization now
strikes for approximately 400m, outcrops at surface, has been
intersected vertically down to approximately 500m below surface,
and remains open in all directions. Drilling continues to confirm
the higher-grade gold mineralization, and two drill rigs are active
to determine the structure and tonnage potential of the Footwall
Zone.”
Highlight reported drill result includes:
- FG23-300 intersected 2.05
grams/tonne (g/t) gold (Au) over 16.2m, including 3.72 g/t Au over
6.2m.
In addition to gold assay results from hole
FG23-300, assays are pending for Footwall Zone holes FG23- 304,
309, 311, 313 and 314 that have all intersected multiple altered
and mineralized zones.
The latest drill result builds on Mayfair’s
previously reported Footwall Zone assay results that included: hole
FG21-139 intersected 1.94 g/t Au over 38.0m,
including 4.06 g/t Au over 15.0m (news release
June 01, 2021); hole FG21-166 intersected 1.42 g/t Au over
66.0m, including 3.4 g/t Au over 19.2m,
including 6.20 g/t Au over 9.2m; a lower zone in
hole FG21-166 returned 1.02 g/t Au over 34.0m,
including 11.49 g/t Au over 1.0m; hole FG21-170
intersected 37.51 g/t Au over 2.6m and
59.05 g/t over 1.0m; hole FG21-186 intersected
2.31 g/t Au over 30.0m, including 6.58 g/t
Au over 7.0m; hole FG21-195 intersected 1.28 g/t
Au over 28.0m, including 1.74 g/t Au over
16.0m (news release October 25, 2021); hole FG21-188
intersected 25.93 g/t Au over 1.5m, 1.37
g/t Au over 25.5m, including 5.4 g/t Au over
5.0m; hole FG21-203 intersected 2.70 g/t Au over
15.0m, including 4.04 g/t Au over 9.0m,
including 7.18 g/t Au over 4.0m; hole FG21-215
intersected 2.88 g/t Au over 49.0m, including
6.53 g/t Au over 17.5m; and hole FG22-218
intersected 2.40 g/t Au over 47.4m, including
3.83 g/t Au over 4.7m and 5.26 g/t Au over
6.6m and 6.78 g/t Au over 7.0m (news
release June 13, 2022).
The Footwall Zone target consists of multiple
mineralized zones hosted primarily in the footwall mafic volcanic
assemblage, located immediately north of the Fenn-Gib deposit
striking in a north easterly direction and with a steep northerly
dip. Mineralization consists of bleached, buff-altered
(silica-albite-carbonate alteration), pillowed mafic volcanic with
pyrite ranging from 2% to over 20%.
The latest reported drill assay results are
summarized in Table 1 below, and Table 2 lists the drill hole
details.
Table 1 - Fenn-Gib Footwall
Zone reported drill result summary.
Hole |
|
From |
To |
Interval |
Gold |
Name |
|
metres |
metres |
metres |
grams/tonne |
FG23-300 |
|
334.8 |
351.0 |
16.2 |
2.05 |
|
including |
334.8 |
341.0 |
6.2 |
3.72 |
|
including |
334.8 |
336.0 |
1.2 |
4.10 |
|
|
338.0 |
339.0 |
1.0 |
9.61 |
|
|
340.1 |
341.0 |
0.9 |
6.76 |
|
and |
349.0 |
351.0 |
2.0 |
2.26 |
Table 2 - Fenn-Gib Footwall
Zone reported drill hole collar information.
Hole Name |
Collar Easting |
Collar Northing |
Collar Elevation |
Depth |
Collar Azimuth |
Collar Dip |
|
mE |
mN |
masl |
m |
Deg. |
Deg. |
FG23-300 |
558400 |
5375795 |
5313 |
492 |
130 |
-46 |
Plan and section maps of the above reported
drill holes are available at
https://mayfairgold.ca/fenn-gib/#drillplanmap§ions
With two drill rigs active on the Footwall Zone, additional
drill results from the infill, expansion and step-out drill program
will be announced as soon as they are received.
QA/QC Controls
Mayfair Gold (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 that include, Activation
Laboratories Ltd. (Actlabs) and AGAT Laboratories Ltd. (AGAT) both
located in Timmins, Ontario, and Swastika Laboratories Ltd located
in Swastika, Ontario. Mayfair personnel transport the samples
directly and deliver to Actlabs, and samples are collected by both
AGAT and Swastika personnel directly from Mayfair’s secure core
logging facility in Matheson, 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. Mayfair completes routine third-party check assays.
Drill intercepts cited do not necessarily represent true
widths, unless otherwise noted.
About
Mayfair
Mayfair Gold is a Canadian mineral exploration
company focused on advancing the 100% controlled Fenn-Gib gold
project in the Timmins region of Northern Ontario. The Fenn-Gib
gold deposit is Mayfair’s flagship asset and currently hosts an
updated NI 43-101 resource estimate including a pit constrained
Indicated Resource of 118.07M tonnes containing 3.06M ounces at a
grade of 0.81 g/t Au; a pit constrained Inferred Resource of 13.8M
tonnes containing 0.31M ounces at a grade of 0.70 g/t Au; and an
underground Inferred Resource of 1M tonnes containing 0.104M ounces
at a grade of 3.22 g/t Au. (Source: Garth Kirkham, P. Geo., of
Kirkham Geosystems Ltd., who is deemed a qualified person as
defined by NI 43-101, effective date October 15, 2022). The
Fenn-Gib 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. Recently completed
metallurgical tests confirm that the Fen-Gib deposit can deliver
robust gold recoveries of up to 94%.
For further
information contact:
Patrick Evans, President and CEO Email: 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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