Mayfair Gold Corp. (“
Mayfair” or the
“
Company”) (
TSX-V: MFG; OTCQB:
MFGCF) is pleased to announce the latest set of drill
results from the Fenn-Gib resource expansion and infill drill
program. 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 300 meters (m) wide at the west end.
Mayfair Gold President and CEO Patrick Evans
commented: “Exceptionally wide intercepts of gold mineralization
continue to be reported from ongoing infill and expansion drilling
at the Fenn-Gib deposit. Holes FG22-294A and 298A, drilled on the
same section, successfully extended significant gold mineralization
well into the north side of the current conceptual open pit.
Additional results from Fenn-Gib infill drilling are pending.”
Highlight drill results include:
- FG22-298A intersected 0.71
grams per tonne (g/t) Gold (Au) over 371.0m, including 1.00 g/t Au
over 71.0m and 0.91 g/t Au over 137.8m;
- FG22-294A intersected 11.43 g/t Au over 6.0m including
64.15 g/t Au over 1.0m, 0.90 g/t Au over 121.7m including 1.12 g/t
Au over 45.5m and 1.56 g/t Au over 28.6m, 0.53 g/t Au over 42.4
(this last interval remains open downhole with assays
pending).
The latest drill results continue to intersect
significant gold mineralization building on the previously reported
Fenn-Gib results, including: hole FG22-253
intersected 1.10 g/t Au over 366.7m from
near-surface, including 4.12 g/t Au over 14.0m and
5.66 g/t Au over 16.0m, hole
FG22-267 intersected 1.53 g/t Au over
133.7m, including 3.18 g/t Au over 53.4m
(news release December 1, 2022); hole FG22-242
intersected 1.40 g/t Au over 65.0m, including
1.79 g/t Au over 44.6m; FG22-250
intersected 0.87 g/t Au over 311.0m, including
1.08 g/t Au over 57.0m, including 1.10 g/t
Au over 99.0m and 1.36 g/t Au over 33.6m
and hole FG22-254 intersected 1.12 g/t Au
over 102.0m, including 2.66 g/t Au over
25.3m (news release October 13, 2022); hole
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); 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). FG21-206 intersected 0.93 g/t
Au over 134.2m, including 1.31 g/t Au over
78.3m, and hole FG21-213 intersected 1.02 g/t Au
over 92.7m (news release May 02, 2022). Hole
FG21-190 intersected 0.59 g/t Au over
158.0m, including 1.07 g/t Au over 34.0m,
hole FG21-217C intersected 0.77 g/t Au
over 184.5m, including 0.98 g/t Au over
62.0m, and including 1.31 g/t Au over
18.8m, and hole FG22-223 intersected
1.21 g/t Au over 112.1m, including 3.04
g/t Au over 31.5m (news release June 08, 2022). Hole
FG22-272 intersected 1.85 g/t Au over
130.5m, including 2.70 g/t Au over 83.0m,
including 5.14 g/t Au over 29.2m, and hole
FG22-274 intersected 0.71 g/t Au over
162.9m, including 1.09 g/t Au over 37.3m
(news release December 8, 2022). Hole FG22-291
intersected 1.06 g/t Au over 163.1m, including
2.92 g/t Au over 23.2m; hole
FG22-240 intersected 13.2 g/t Au over
1.5, 0.80 g/t Au over 96.0m, including
1.71 g/t Au over 29.0m, 43.70 g/t Au over
1.5m and 6.14 g/t Au over 3.2m; and hole
FG22-276A intersected 20.93 g/t Au over
1.0m, 0.78 g/t Au over 187.5m, including
1.26 g/t Au over 77.9m (news release March 29,
2023).
The latest reported drill results are summarized in Table 1
below, and Table 2 lists the drill hole details.
Table 1 - Fenn-Gib reported
drill hole results summary.
Hole |
|
From |
To |
Interval |
Gold |
Name |
|
metres |
metres |
metres |
grams/tonne |
FG22-294A |
|
63.0 |
69.0 |
6.0 |
11.43 |
|
including |
67.0 |
68.0 |
1.0 |
64.15 |
|
|
174.3 |
296.0 |
121.7 |
0.90 |
|
including |
191.0 |
236.5 |
45.5 |
1.12 |
|
and |
267.4 |
296.0 |
28.6 |
1.56 |
|
* |
340.1 |
382.5 |
42.4 |
0.53 |
|
including |
377.0 |
386.6 |
9.6 |
2.71 |
|
|
|
|
|
|
FG22-298A |
|
55.0 |
64.0 |
9.0 |
0.82 |
|
|
141.0 |
512.0 |
371.0 |
0.71 |
|
including |
157.0 |
228.0 |
71.0 |
1.00 |
|
and |
374.2 |
512.0 |
137.8 |
0.91 |
|
including |
374.2 |
412.0 |
37.8 |
1.19 |
|
and |
435.0 |
493.0 |
58.0 |
1.02 |
*Assay interval remains open down hole. Assays pending.
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. |
FG22-294A |
558400 |
5375150 |
5313 |
759.0 |
3 |
-57 |
FG22-298A |
558400 |
5375150 |
5313 |
774.0 |
3 |
-52 |
Plan and section maps of the above reported drill holes are
available at
https://mayfairgold.ca/fenn-gib/#drillplanmap§ions.
Mr. Evans added: “Currently, two drill rigs are
defining the full extent of the higher-grade Footwall Zone
mineralization located immediately to the northwest of the Fenn-Gib
deposit. A third drill rig is executing the open-pit geotechnical
program in support of Mayfair’s planned pre-feasibility study,
which is scheduled to begin shortly and expected to be completed in
H2 2023. On the Fenn-Gib North Block, approximately 102 line km of
IP geophysical surveys were completed on Grid A, successfully
defining five new compelling coincident IP chargeability and
resistivity drill targets. The IP survey on Grid B over the
Footwall Zone gold trend is expected to be completed by month end.
Results from the geophysical programs will guide further drill
programs.”
Additional drill results from the infill,
expansion and step-out drill program will be announced 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
Gold
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 of a total open-pit constrained
Indicated Resource of 118.07M tonnes containing 3.06M ounces at a
grade of 0.81 g/t Au and an Inferred Resource of 13.8M tonnes
containing 0.31M ounces at a grade of 0.70g/t Au. (Source: Garth
Kirkham, P. Geo., of Kirkham Geosystems Ltd., who is deemed a
qualified person as defined by NI 43-101, dated 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 CEOEmail:
patrick@mayfairgold.caPhone: (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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