Mayfair Gold Reports Positive Results from Ongoing Metallurgical Testing
August 01 2023 - 7:00AM
Mayfair Gold Corp. (“
Mayfair” or the
“
Company”) (
TSX-V: MFG; OTCQB:
MFGCF) is pleased to report positive results from the
Company’s ongoing metallurgical test program on mineral samples
from the Company’s 100% controlled Fenn-Gib deposit located in the
Timmins region of Northeast Ontario. Fenn-Gib hosts an NI 43-101
open-pit-Indicated Resource of 3.38M gold (“Au”) ounces with
disseminated gold mineralization striking east-west on the
Pipestone fault over more than 1.5 kilometers (km) and up to 500
meters (m) in width at the west end.
Metallurgical test work was completed at
SGS-Lakefield (“SGS”) under the guidance of Mr. Steve Haggarty,
P.Eng. (Haggarty Technical Services Corp.), in coordination with
Mayfair geological personnel. The improved metallurgical recoveries
are included in the recently published July 26, 2023 Fenn-Gib
Project NI-43101 Technical Report, with an effective date of April
6, 2023. The Technical Report is available on both SEDAR+
(www.sedarplus.ca) and the Company’s website
(www.mayfairgold.ca).
Flotation testwork demonstrates a near-linear
relationship for gold deportment with sulphides. At flotation feed
sizes of F80 75 to 100 µm, sulphide and gold
recoveries of 96% to 99% were realized, with slight deterioration
in performance at coarser grind sizes. The treatment of a reground
gold-sulphide flotation concentrate, which is then subjected to
intensive cyanidation, yielded consistent results with 98% Au
extraction achieved at a concentrate regrind size of
P80 10 µm. An overall 94% Au recovery would be
expected from Fenn-Gib mineralization over the entire range in
sulfide content.
The hybrid, industrially-applied process scheme
takes advantage of the hydrophobic nature and favorable response to
flotation of pyrite, chalcopyrite, and gold alloys. Mineralization
supports the implementation of a gravity circuit, followed by
either flotation to a final concentrate for off-site smelting, or
regrinding and intensive on-site cyanidation of a combined
gravity-flotation concentrate.
No deleterious elements were present in the
concentrates produced from testwork. The clean pyrite concentrate
is attractive as a smelter feed providing a fuel source with
payable gold content.
Additional metallurgical test work is planned on
mineralized intercepts from site exploration drilling. Variability
testing will validate the expected range in performance and process
design criteria for pre-feasibility study engineering, as well as
the financial evaluation of alternatives.
Qualified Person Statement
The disclosure of technical and scientific
information in this news release has been reviewed and approved by
Mr. Steve Haggarty, P. Eng, of Haggarty Technical Services Corp.
and Mr. Tim Maunula, P. Geo., of T. Maunula & Associates
Consulting Inc. who are qualified persons defined by NI 43-101 and
responsible for the completion of the updated NI-43101 Technical
Report. Mayfair Gold’s disclosure in this news release has been
reviewed and approved by Howard Bird, P Geo., Vice President
Exploration for the Company, who oversaw the Mayfair Gold drill
program and serves as a Qualified Person under the definition of
National Instrument 43-101.
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 with an effective date of April
6, 2023 with a total Indicated Resource of 113.69M tonnes
containing 3.38M ounces at a grade of 0.93 g/t Au and an Inferred
Resource of 5.72M tonnes containing 0.16M ounces at a grade of 0.85
g/t Au at a 0.40 g/t Au cut-off grade (Source: Tim Maunula, P.
Geo., of T. Maunula & Associates Consulting Inc., who is deemed
a qualified person as defined by NI 43-101). The Fenn-Gib deposit
has a strike length of over 1.5km with widths ranging over 500m.
The gold mineralized zones remain open at depth and along strike to
the east and west. Recently completed metallurgical tests confirm
that the Fenn-Gib deposit can deliver robust gold recoveries of up
to 94%.
For further
information contact:
Patrick Evans, President and CEOEmail: patrick@mayfairgold.ca
Phone: (480) 747-3032Web: www.mayfairgold.ca
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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