PIEDMONT, QC,
July 27, 2021 /CNW Telbec/ - Typhoon Exploration
Inc. (TSXV: TYP) ("Typhoon" or "the Company") is pleased
to announce that it acquired, from Breakwater Resources, two gold
properties – Duplessis–Agar and Duplessis–Mountain –
located between 60 and 70 kilometres north-east from
Lebel-sur-Quévillon (province of
Quebec), and west of Pusticamica
Lake (Nord-du-Québec Administrative Region).
Location
The transaction covers 16 mining claims separated into two
distinct blocks (Duplessis– Agar and Duplessis–Mountain), and
totalling nearly 900 hectares, which are easily accessible by
regional roads and a network of forestry roads.
These claims are part of an important regional geological
structure within the Urban–Barry mining camp, which is renowned for
its gold potential and which holds at least 14 recognized gold
deposits with historical or published resources1.
Duplessis–Agar
The gold showings of the Duplessis–Agar Property are located
approximately 30 km south of the Bachelor Mine mill,
currently in the Site Restoration and Environmental Study phase by
the company Bonterra Resources Inc. (TSXV: BTR).
Since 1945, various exploration work (stripping, ground
geophysics, drilling) has been carried out on the property. At the
end of the 1980s, this work intensified and focused on the
property's gold potential.
The gold system defined by historical work covers an area of
approximately 0.5 by 1.0 km, where stripping has revealed no
less than 8 zones of mineralized outcrops.
From 1945 to 1990, 111 holes, representing
15,320 metres to a maximum vertical depth of 250 metres,
were drilled on the property2.
Results
The compilation of historical work has made it possible to
identify a series of significant results, the grade of which
generally varies between 2.5 g/t Au and
5.75 g/t Au, over lengths ranging from 2.5 m to more
than 10 m.
The table below presents a series of historical
results3 from the documented work carried out
between 1988 and 1990.
|
Drill
Hole
Number
|
From
(m)
|
To
(m)
|
Grade
(g/t
Au)
|
Length
(m)
|
|
|
|
|
|
|
AG-88-24
|
121.00
|
130.5
|
2.80
|
9.50
|
|
AG-88-26
|
33.90
|
34.50
|
9.00
|
0.60
|
|
|
|
|
|
|
AG-89-02
|
89.89
|
92.51
|
5.75
|
2.62
|
|
AG-89-03
|
186.93
|
193.55
|
3.74
|
6.62
|
|
AG-89-10
|
158.85
|
169.13
|
2.60
|
10.28
|
|
|
|
|
|
|
AG-90-01
|
176.70
|
177.70
|
6.18
|
1.00
|
|
AG-90-10
|
204.75
|
205.25
|
14.55
|
0.50
|
Geology
The Agar mineralized system is hosted by a localized complex of
mafic intrusions within a large regional north-east trending shear.
The types of rocks that contain the gold mineralization are varied:
diorite, gabbro, porphyritic intrusions, felsic volcanic rocks and
sediments. The known structural orientations make it possible to
infer the presence of a kilometric fold hinge.
The gold mineralization occurs in the form of silicification and
pyritization zones, which, in certain places, host quartz veins.
These zones have been intersected in different structures, over
core lengths varying from a few metres (in the case of the best
results) to more than 100 metres (in the case of mineralized
halos).
Typhoon will proceed with the integration of all historical
exploration data into a comprehensive database and construct a 3D
exploration model. All targets generated by this compilation work
will be drill tested. The Company is very excited to undertake this
exploration effort on a property that has not seen any exploration
work in over 30 years and that is strategically located in a
very active mining camp.
"This new positioning in a very
active exploration area is part of Typhoon's strategy to pursue the
acquisition of high potential mineral properties, to increase the
value of the Company, and increase shareholder value," states
Ghislain Morin, Typhoon
Exploration's CEO.
Typhoon acquired 100% of the Duplessis–Agar and
Duplessis–Mountain properties for $125,000 cash and a 1% royalty (NSR).
_________________________________
|
1
|
Source: Ministère de
l'Énergie et des Ressources naturelles du Québec
(sigeom.com).
|
|
2
|
Source: Ministère de
l'Énergie et des Ressources naturelles du Québec
(sigeom.com).
|
|
3
|
Report on the Diamond
Drill Program – Agar Property, 1988, Minefinders
Corporation Ltd; Report on Diamond Drilling – Agar
Property, Winter 1989-1990, Minefinders Corporation Ltd;
Report on Diamond Drilling – Agar Property, Fall 1990,
Malartic Hygrade Gold Mines (Canada) Ltd.
|
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of this press release.
SOURCE Typhoon Exploration Inc.