PIEDMONT, QC, Dec. 22,
2020 /CNW Telbec/ - Typhoon Exploration Inc. (TSXV:
TYP) ("Typhoon" or "the Company") completed the first
part of its new drill program on the Aiguebelle-Goldfields claims
block, located about 35 km north-east of Rouyn-Noranda, Abitibi (Québec). The total
program includes 20 holes totalling 3,000 metres and is
expected to be completed in early February 2021.
To this date, 7 holes, from 200 to 300 metre-deep
each, and totalling 1928 metres, were completed in the
southern portion of a single mining title of the project. The holes
are distributed in three sections, spaced out by approximately
100 metres. The program aims at locating new gold-bearing
structures in an area where sporadic previous drilling has
demonstrated the presence of strong gold anomalies. To date,
geological observations made on the core of the first three holes
(AIG-20-001 to AIG-20-003) contain the following
elements:
|
Drill
hole
|
Section
|
Interval of
interest
|
Geological
description
|
|
AIG-20-001
|
661750
|
25-41 m
(16 m)
|
Syenite dykes swarms,
strongly sheared, pyritization.
|
|
171-191 m
(20 m)
|
Sheared iron
carbonate alteration zone with syenite dykes.
|
|
AIG-20-002
|
661650
|
15m-27 m
(12 m)
|
Syenite dykes swarms,
hematization with pyrite.
|
|
162-220 m
(58 m)
|
Sheared and altered
contact between ultramafic volcanics and sediments, injected by
syenite dykes, variably pyritized.
|
|
AIG-20-003
|
661550
|
98-114 m
(16 m)
|
Fault zone injected
with syenite intrusions.
|
|
114-168 m
(54 m)
|
Continuous altered
syenite intrusion, fractured with pyrite dissemination.
|
Overall, the intersected geological context follows the contact
between the Lanaudière Group sequence of ultramafic and mafic
volcanic, and the Kewagama sediments Group extending southward.
The drilling is centred on the Manneville Nord Fault, where the
structure is partly filled by a suite of alkaline intrusions,
usually showing a red hematite alteration associated with iron
carbonate and disseminated pyrite, which represents the main gold
target. According to the preliminary geological description and
interpretation, this structure's estimated target width of ranges
between 12 and 40 metres.
Typhoon controls the exploration ground called
Aiguebelle-Goldfields, eastern bounded by IAMgold Corporation's
Fayolle project. Aiguebelle-Goldfields' boundary is approximately
250 metres away from the Fayolle zone. Historical drilling is
located at approximately 600 metres west of the Fayolle zone.
The drill plan is firstly to test the possibility to find, inside
this gap, additional mineralization following the same geological
trend. The drill pattern will cover three stacked gold-bearing
structures previously identified by historical drilling.
"Our first evaluation of the new drill cores surprised us in
many ways. Firstly, the geological context observed with hematized
syenite dykes, the associated alteration, and the disseminated
mineralization are all gold-favourable geological features and are
well known as such in the region. They remind us of the Bachelor
Lake Mine (Bonterra Resources) and the Douay project (Maple Gold Mines), where Typhoon Exploration
management and geologist were respectively involved at some point,"
says Ghislain Morin, Typhoon's CEO.
The technical information presented in this Press Release was
revised by Martin Demers, P.Geo. (ogq #770), consultant
for Typhoon Exploration, and Qualified Person under National
Instrument 43-101 Standards of Disclosure for Mineral
Projects.
The TSX Venture Exchange and its regulatory
service provider (as defined by the TSX-V Venture Exchange
rules) cannot be held responsible for the accuracy or veracity
of this press release.
SOURCE Typhoon Exploration Inc.