TYP Typhoon Exploration Inc

PIEDMONT, QC, Sept. 13, 2021 /CNW Telbec/ - Typhoon Exploration Inc. (TSXV: TYP) ("Typhoon" or "the Company") announces that it has undertaken a compilation of historic works on the Duplessis-Agar property, located between 60 and 70 kilometres northeast of the municipality of Lebel-sur-Quévillon, and west of Lake Pusticamica (Northern Region of Quebec). The property is composed of 10 titles representing 900 hectares, and is easily accessible by regional roads. 

The property is known for a series of gold occurrences named Agar #1 to Agar #7, which are distributed over an area of about 1 kilometre along an east-west axis, and 500 metres in the north-south axis. Gold mineralization may be associated with northeast regional shear zones known for their gold potential (source: sigeom.com).

Historical Drilling

The ongoing compilation of historical drilling reveals that approximately 12,000 metres distributed in 75 boreholes were drilled inside the property between 1981 and 1990. The compilation of this historical information is based on reports and maps digitized by the MERN on the Examine database. At this stage of work, the Company considers that, to the best of its knowledge, no drillings have been done since then on the property.

The compilation showed that 55 mineralized intervals of more than 1 g/t over 1 metre in length were identified in the historic holes for an average of 2.4 g/t over 3.7 metres. The mineralized intersections are located at a depth that varies between 20 and 150 metres.  

Of these, 10 intervals show a metal factor of more than 10 (grade x width), the equivalent of 1 gram per ton over 10 metres. The average obtained for these results is 4.2 g/t over 5.6 metres (see table below). Gold mineralization is in the form of networks of quartz veins generally hosted in silicified and pyritized diorite intrusions.

Although these results must be considered historical and preliminary, they nevertheless indicate the presence of gold on the property.

Assessment Plan

The Company is currently developing a gold potential assessment plan for its Agar property which would go like this:

A first field visit allowed Typhoon's team to acknowledge that evidence of historical works is still visible, such as drilling casings and stripped outcrops. Typhoon will undertake further verification of this data to locate historic drilling sites accurately. Surface sampling and stripping work could be undertaken in parallel. 

The subsequent interpretation and modelling should help to establish drilling priorities. The Company is currently assessing the scope of the work as well as the investment required, after what il will be able to communicate targets and a work schedule. 

"This acquisition is part of Typhon's strategy to continue to expand its portfolio of high-potential properties in order to increase the value of the Company and, consequently, the value of its shareholders," said Ghislain Morin, President and Chief Executive Officer of Typhoon Exploration.

Typhoon acquired 100% of the Agar-Duplessis property for $125,000 in cash and a 1 % NSR royalty for Breakwater Resources.

The technical information contained in this press release has been reviewed by Martin Demers, P.Geo. (ogq No 770), consultant for Typhoon Exploration and qualified person under National Instrument 43-101 Respecting Disclosure of Mineral Projects.

Table

Weighted average of mineralized intervals from historical drilling.

Intervals noted as partial include unsampled lengths of 0 value.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the rules of the TSXV Exchange) is responsible for the accuracy or truthfulness of this release.

SOURCE Typhoon Exploration Inc.