Mayfair Gold Completes Fenn-Gib 80,000m Phase 1/2 Infill and Expansion Drill Program and Commences Fully Funded 30,000m Phase 3 Drill Program
Mayfair Gold Completes Fenn-Gib 80,000m
Phase 1/2 Infill and Expansion Drill Program
and Commences Fully Funded 30,000m
Phase 3 Drill Program
Resource update on schedule for completion in current quarter
Approx. 6,400m completed at North Block regional drill program
Vancouver, British Columbia, July 6, 2022 – Mayfair Gold Corp. (“ Mayfair” or the “ Company”)
(TSX-V: MFG; OTCQX: MFGCF) is pleased to announce the successful completion of the 80,000-
meter Phase 1/2 infill and expansion drill program at the Company’s 100%-controlled Fenn-Gib
Project, located in the Timmins region of Northeast Ontario. Fenn-Gib currently hosts a NI 43-
101 Indicated Resource of 2.08M ounces (see the “About Mayfair” section below) with
disseminated gold mineralization striking east-west on the Pipestone Fault over 1.25 kilometers
(km) and up to 300 meters (m) wide at the west end. The drill programs have delineated
additional gold mineralization at Fenn-Gib which will support a planned resource update during
the current quarter.
Mayfair Gold President and CEO commented: “Since acquiring Fenn-Gib eighteen months ago,
we have drilled approx. 80,700m in 124 holes. The program has been completed safely, which is
a reflection of the experience of our project team. The Phase 1/2 drill programs were designed
to fully delineated gold mineralization at Fenn-Gib, and most of the drilling has focused outside
the current pit-constrained resource. Gold mineralization continues to be encountered in every
hole drilled and sampled to date.”
Mr. Evans added: “While we intend to complete the previously announced resource update this
quarter, it is clear that mineralization at Fenn-Gib remains open in most directions. Before
commencing engineering studies, it is imperative that we fully delineate the resource potential
at Fenn-Gib. Accordingly, we have now commenced a fully funded 30,000m Phase 3 infill and
expansion drill program to take our full program to 110,000m.”
Mayfair Gold also announced that regional exploration drilling is continuing on the Fenn-Gib
North Block and is currently focused on the Horseshoe zones following the completion of drilling
at the Talisman gold occurrence. To date, approx. 6,400m has been completed in 19 holes as part
of the planned 7,000m North Block drill program. While assay results are awaited, planning is
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underway for an expanded North Block regional exploration program. Preparations are
underway for line cutting and ground geophysics across substantially all of the North Block that
remains unexplored. Further details will be provided once planning is completed.
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About Mayfair
Mayfair 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. An updated open-pit constrained NI 43-101 resource estimate (Source:
“NI 43-101 Technical Report Fenn-Gib Project, Ontario, Canada” dated February 5, 2021,
authored by JDS Energy and Mining, Inc. and Kirkham Geosystems Ltd.) 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. 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
CEO
Email: [email protected]
Phone: (480) 747-3032
Web: 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,
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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.