Vancouver, British Columbia, October 25, 2021 (GLOBE NEWSWIRE) - Mayfair Gold Corp. ("Mayfair" or "Company") (TSX-V: MFG; MFGCF) is pleased to announce the results of further drilling at a higher level -Located in the dribbling zone with a slope between 100 and 200 meters (m) north of the Fenn-Gib deposit. The Fenn-Gib deposit is located in the Timmins area of northeastern Ontario. It has 2.08 million ounces of pit limit indicator resources. It is distributed with gold mineralization on the Pipestone fault for more than 1.25 kilometers from east to west, with a width of 300m. The mineralization of the lower block is not included in the current Fenn-Gib resources and is the priority target of Mayfair's first phase of 50,000-meter drilling activities. Four drilling rigs support infill and extended drilling, and 65 holes of 44,052 meters have been completed so far.
Patrick Evans, President and Chief Executive Officer of Mayfair Gold, commented: "The new borehole in the Fenn-Gib lower block confirms the continuity of important high-grade gold mineralization immediately north of the deposit. The mineralization of the lower wall is exposed on the surface. Continue to extend to more than 500m below the surface. It is very encouraging to see gold mineralization in multiple areas."
The targets of the lower belt include multiple mineralization zones, mainly located in the lower wall basic volcanic assemblage in the general east-west trending tubular fault mineralization corridor. Mineralization includes bleaching, light yellowing (silica-albite-carbonate alteration) pillow-like basic volcanic rocks, with pyrite content ranging from 2% to more than 20%.
Based on the previously reported results, the latest bottom panel drilling results continue to intersect with important gold mineralization. Highlights of the newly reported mineralized zones include:
Drilling section 558525E, including the 2011 historical borehole FG-11-05, intersects 3.62 g/t Au at 59.0m and 4.22 g/t Au at 6.0m.
Drilling section 558575E, including the historical drill hole FG-11-08 in 2011, intersects 2.24 g/t Au at 39.4m and 4.50 g/t Au at 5.7m.
Drilling in the lower panel continues on drilling section 558600E, including Mayfair drill hole FG21-139, which intersects 1.94 g/ton gold over 38.0m, of which 4.06 g/ton gold exceeds 15.0m (June 1, 2021 Press Releases). FG21-199b, the first follow-up drill hole in this segment has been completed (analysis results to be determined), and the second drill hole FG21-203 is in progress. The rig will continue to test the lower panel area in the northeast direction at 50m steps, setting 3 to 4 holes at a time.
The latest drilling results of the lower panel are summarized in Table 1 below. Other results will be published as they are received.
Table 1: Fenn-Gib bottom panel drilling results summary in 2021
Plans and cross-sections, including the above-mentioned drill holes, can be found at https://mayfairgold.ca/fenn-gib/#drillplanmap§ions.
With the selection of representative samples from seven different locations, metallurgical testing work is progressing. The sample interval is chosen to be consistent with the average annual grade in the potential mine plan and to provide a representativeness of each hole in the conceptual pit. Five of the samples are from the Fenn-Gib deposit; one is from the lower wall area located in the conceptual Fenn-Gib pit; and the seventh sample is from the lower wall area outside the conceptual pit.
The company has hired Ausenco Engineering Canada Inc. to manage the metallurgical project in preparation for the preliminary economic assessment. Metallurgical samples have been sent to SGS Canada Inc. in Lakefield, Ontario, which has more than 80 years of metallurgical testing experience. The results will be reported upon receipt.
Mayfair adopts a QA/QC program that complies with NI 43-101 and industry best practices. The surface drilling was performed by Major/Norex Drilling in Timmins, Ontario, and supervised by the Mayfair exploration team. Mayfair’s drilling program includes descriptive records and core sampling for analysis at Mayfair’s safety facility in Matheson, Ontario. Saw the sampled core in half with a diamond saw blade. Half of the sampled cores are kept in the core box, and the remaining half are bagged and sealed. Mayfair uses accredited laboratories and samples are shipped by Mayfair personnel to the Actlabs laboratory in Timmins, Ontario. The gold has passed 30g fire test analysis and AA polished. The certified reference material (CRM) standard and rough blank materials are inserted for every 20 samples. Unless otherwise stated, the borehole intercept quoted does not necessarily represent the true width.
Mayfair is a Canadian mineral exploration company focused on advancing the 100% Fenn-Gib gold project in the Timmins region of northern Ontario. The Fenn-Gib gold mine is Mayfair's flagship asset. The updated open-air restricted NI 43-101 resource estimate (February 5, 2021) reports a total indicated resource of 70.2 million tons, containing 2.08 million ounces, a grade of 0.921 g/ton gold, and an inferred resource of 3.8 million tons. Contains 75,000 ounces, with a grade of 0.618 g/ton gold. The strike length of the deposit is approx. 1.25 kilometers, the width can reach 300 meters. The gold mineralization zone remains open to the east and west in depth and along the strike.
Patrick Evans, President and CEO Email: [email protected] Phone: (416) 670-5114 Website: www.mayfairgold.ca
The technical and scientific information disclosed by Mayfair Gold in this press release has been reviewed and approved by Howard Bird, the company's vice president of exploration, who is a qualified person as defined by National Instrument 43-101.
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively referred to as "forward-looking statements") that are related to Mayfair’s current expectations and views on future events. Any expression or statement involving expectations, beliefs, plans, goals, assumptions, or future events or performance (usually, but not always, through the use of such statements as "may cause", "expected", "expected", "will continue "," "anticipation", "anticipation", "believe", "estimate", "plan", "plan", "forecast", "forecast", "strategy", "objective" and "forecast") are not historical facts, May be forward-looking statements that may involve estimates, assumptions and uncertainties, which may cause actual results or results to differ materially from those expressed in such forward-looking statements. There can be no assurance that these expectations will prove to be correct, and there should be no undue reliance on such forward-looking statements contained in this press release. These statements are only effective as of the date of this press 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 may cause actual results and events to differ materially from those disclosed or implied in such assumptions . Forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progress of the COVID-19 pandemic and other factors. Unless required by law, Mayfair assumes no obligation to update or revise any forward-looking statements, whether due to new information, future events or other reasons. New factors appear from time to time, and Mayfair cannot predict all of these factors, or assess the impact of each of these factors, or the extent to which any factor or combination of factors may cause the results to differ materially from these factors, included in any forward-looking statements. Any forward-looking statements contained in this press release fully comply with the requirements of this cautionary statement.
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