Mayfair Gold Provides Drilling Update and Announces Commencement of Heli-Borne Magnetic Survey at the Fenn-Gib Project, Northern Ontario
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VANCOUVER, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) — Mayfair Gold Corp. (“Mayfair” or the “Company”) is pleased to provide an update on its fully funded 2021 ongoing gold exploration program on its 100% owned Fenn-Gib Project (“Fenn-Gib”) located 80 kilometers east of Timmins, in northern Ontario.
2021 Drill Program
Following acquisition of Fenn-Gib on December 31, 2020, Mayfair commenced a planned 50,000-meter drill program on January 19, 2021, initially with one drill rig. Since then, two additional drill rigs have been mobilized and eight drill holes have been completed for approx. 6,600m. The drill program includes both step-out and infill drilling at 25m to 50m centers and is designed to expand the gold mineralized zones beyond the current resource.
Mayfair Gold President and CEO, Patrick Evans, commented: “Our 2021 drill program has got off to a strong start. Drilling started within three weeks of acquiring Fenn-Gib and has ramped up rapidly. Additional drill rigs will be added in the months ahead to accelerate our program. Numerous assay results are pending and will be reported when received and compiled.”
The Fenn-Gib gold deposit is Mayfair’s flagship asset. An updated open-pit constrained NI 43-101 resource estimate (February 5, 2021) reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The 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.
Limited previous drilling by Lake Shore Gold in 2011 and 2012 identified gold mineralization within the footwall mafic volcanics located 200 to 300m north of the Fenn-Gib deposit. Mineralized intervals included 3.54 g/t Au over 10.0m from hole FG-11-04, 3.93 g/t Au over 53.0m from hole FG-11-05, 4.03 g/t Au over 3.0m from hole FG-11- 07, and 4.50 g/t Au over 5.7m and 2.81 g/t Au over 16.8m from hole FG-11-08. Mayfair is following up with further drilling to determine the extent of the high-interest footwall gold mineralization.
Regional Exploration Program
The Fenn-Gib Project comprises two separate, 100% owned claim blocks—the North and South blocks—with a combined area of 47.27 square kilometers (km2). The North Block (32.55 km2) hosts approximately 6.3 km in strike length of the regional Pipestone Fault, where Mayfair’s Fenn-Gib deposit is located. The South Block (14.72 km2) hosts approximately 6.2 km in strike length of the regional gold-bearing Destor-Porcupine Fault. This fault and its splays host McEwan Mining’s producing Black Fox gold mine, located approximately 7 kms to the north-west of the South Block, and Moneta Porcupine’s multi-million-ounce gold resource at the Golden Highway Project, which shares a common property boundary to the east of the South Block. There is currently no road access to the South Block and it remains largely unexplored.
Mayfair’s systematic regional exploration program has commenced with a 1,751-line kilometre heli-borne high-resolution triaxial magnetic gradiometer geophysical survey at 75-metre spaced flight lines. The survey will cover both the North and South blocks, mapping the regional east-west magnetic fabric and capturing cross-cutting structures that can control gold mineralization. This will assist the overall regional geological interpretation and guide further exploration to specific new gold prospective target areas. The geophysical survey is being conducted by Scott Hogg and Associates Ltd. of Toronto, Ontario, and the results are expected in early May.
As part of the regional program, numerous historical gold occurrence targets will be further explored by Mayfair, including the G-101 Zone, explored between 1995 and 1996 and located approximately 1.6 km to the south-west of the Fenn-Gib deposit. This zone is located on an interpreted regional north-east trending cross fault and the best historical drill intersection was in hole C4-3, which returned 4.45 g/t Au over 13.2m (including 13.56 g/t Au over 2.77m).
Mayfair is a Canadian mineral exploration company focused on the exploration of the 100% owned Fenn-Gib Gold Project. The Fenn-Gib Property consists of 21 fee simple patented properties, 144 unpatented mining claims, and 153 patented leasehold mining claims located in the Guibord, Munro, Michaud and McCool Townships in northeast Ontario, Canada.
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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.
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