Mayfair Gold Reports 1.10 g/t Gold over 366.7m from Near-Surface, Including 5.66 g/t Au over 16.0m from Fenn-Gib Drill Program
Mayfair Gold Reports 1.10 g/t Gold over 366.7m
from Near-Surface, Including 5.66 g/t Au over
16.0m from Fenn-Gib Drill Program
1.53 g/t Au over 133.7m, including 3.18 g/t Au over 53.4m
104,000m of 110,000m Infill and Expansion Drill Program
Completed
Resource update scheduled for Q2, 2023
Pre-feasibility Study scheduled for 2023
Vancouver, British Columbia, December 1, 2022 – Mayfair Gold Corp. (“ Mayfair” or the
“Company”) (TSX-V: MFG; OTCQB: MFGCF) is pleased to announce the eighth set of drill results
for 2022 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: “The remarkable intercept of 1.10
g/t gold over 366.7m from near-surface in hole FG22-253 is one of the best results from our drill
program and highlights the exceptional quality of the Fenn-Gib deposit. This intercept is further
confirmation of the robust nature of the high-grade plunge identified on west side of the deposit.
The more moderate grades reported from holes FG22-256, 258 and 260 appear to represent the
limits of the mineralization on the north side of the deposit within the conceptual open pit.”
Highlight drill results include:
1. FG22-253 intersected 1.10 grams per tonne (g/t) Gold (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;
2. FG22-267 intersected 1.53 g/t Au over 133.7m, including 3.18 g/t Au over 53.4m;
3. FG22-252 intersected 0.86 g/t Au over 232.8m.
The latest drill results continue to intersect significant gold mineralization building on the
previously reported Fenn-Gib results, including: 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).
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
FG22-252 422.2 655.0 232.8 0.86
including 422.2 445.5 23.3 0.98
and 578.0 584.0 6.0 8.07
FG22-253 11.3 378.0 366.7 1.10
including 50.0 64.0 14.0 4.12
and 88.0 98.0 10.0 2.19
and 326.8 333.0 6.2 6.43
and 349.0 365.0 16.0 5.66
FG22-256 67.0 84.0 17.0 0.69
FG22-258 31.0 48.0 17.0 0.41
78.4 88.5 10.1 0.81
FG22-260 26.4 58.0 31.6 0.38
90.0 112.4 22.4 0.46
FG22-261 13.1 193.0 179.9 0.39
including 52.0 75.0 23.0 1.00
411.7 424.3 12.6 0.68
FG22-267 444.3 578.0 133.7 1.53
including 471.3 524.7 53.4 3.18
including 491.0 524.0 33.0 4.58
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.
FG22-252 558875 5374885 5312 828 356 -66
FG22-253 558450 5375290 5313 804 357 -59
FG22-256 558274 5375422 5313 546 358 -46
FG22-258 558274 5375422 5313 375 358 -64
FG22-260 558274 5375422 5313 414 358 -64
FG22-261 558400 5375340 5313 683 358 -50
FG22-267 558778 5374878 5313 762 356 -61
Plan and section maps of the above reported drill holes are available at
https://mayfairgold.ca/fenn-gib/#drillplanmap§ions.
Additional drill results from the infill, expansion and step-out drill program will be announced as
soon as they are received.
Mayfair Gold is also pleased to report that the recently announced non-brokered private
placement (the “Offering”) of common shares (the “Shares”) has been upsized due to strong
demand. Under the Offering, 3,000,000 Shares will be issued at a price of $1.15 per share for
aggregate gross proceeds of $3.45 million.
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% con-
trolled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold de-
posit 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 re-
main 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,
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
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