Mayfair Gold drills 0.93 g/t gold over 134.2 metres at Fenn-Gib, Ontario

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Mayfair Gold Corp. [MFG-TSXV; MFGCF-OTCQB] reported further results from the Fenn-Gib expansion drill program, which is identifying mineralization in the expansion zone below the shallow central and eastern areas of the current conceptual open pit. Mayfair’s flagship 100%-owned Fenn-Gib project, located in the Timmins region of northeast Ontario, hosts a NI 43-101 Indicated Resource of 2.08 million ounces, with disseminated gold mineralization striking east-west on the Pipestone fault over 1.25 km and up to 300 metres wide at the west end.

Patrick Evans, president and CEO, commented: “Our expansion drill program continues to return excellent gold results from holes drilled outside the current Fenn-Gib deposit. We have now completed 71,498 metres of the fully-funded 80,000 meters drill program, which is supported by three drill rigs and expected to be completed in Q2 2022. Subject to the timely receipt of assay results, Mayfair expects to report an updated NI 43-101 mineral resource for Fenn-Gib during the third quarter of 2022, with a preliminary economic assessment planned for the fourth quarter of 2022.

“We are particularly excited to report on progress with Mayfair’s regional exploration drill program, which is designed to identify new deposits at Fenn-Gib. One drill rig is focused on the North Block where drilling has been completed at the Talisman Shaft Zone and is now underway at the Horseshoe Zone. On the very prospective South Block, a second drill rig collared the first hole last week as part of a planned 3,000-metre drill program.”

Highlight drill results include drill hole FG21-180 that intersected 0.77 g/t gold over 122.8 metres, including 1.06 g/t gold over 63.3 metres. FG21-189 intersected 0.88 g/t gold over 72.5 metres, including 2.06 g/t gold over 24.3 metres. FG21-206 intersected 0.93 g/t gold over 134.2 metres, including 1.31 g/t gold over 78.3 metres. FG21-213 intersected 1.02 g/t gold over 92.7 metres.

The expansion drilling continues to intersect significant gold mineralization building on the previously reported Expansion Zone results, including hole FG21-148 that intersected 101.0 metres of 0.88 g/t gold, including 51.7 metres of 1.16 g/t gold. Hole FG21-149 intersected 101.9 metres of 0.75 g/t gold, including 18.0 metres of 1.77 g/t gold. Hole FG21-150 intersected 65.5 metres of 1.18 g/t gold, including 10.0 metres of 4.24 g/t gold. Hole FG21-153 intersected 233.0 metres of 1.05 g/t gold, including 84.0 metres of 1.83 g/t gold, and also including 25.5 metres of 4.70 g/t gold.

Additional drill results from the Fenn-Gib infill, expansion and step-out drill program will be announced when received.

Mayfair’s fully-funded regional exploration program is focused on both the Fenn-Gib North Block (32.55 km2), which straddles the Pipestone Fault mineralized corridor, and the South Block (14.72 km2), which straddles the Destor-Porcupine Fault. The strategically located North and South blocks are separated by approximately 3 km.

On the North Block, drilling has been completed on the historical Talisman Shaft Zone target, located approximately 350 metres west of the Fenn-Gib deposit, with 2,534 metres drilled in nine holes. Drilling is now underway on the Horseshoe Zone target, located approximately 500 metres northwest of the Fenn-Gib deposit, where three of seven planned holes have been completed. A total of 7,000 metres of drilling is planned for the North Block.

Drilling of the first hole on the South Block has commenced to evaluate priority gold targets identified from historical data and recently completed ground magnetometer and induced polarization surveys. The South Block straddles the prolific Destor-Porcupine Fault and its splays and is on trend to McEwen Mining’s Black Fox gold mine located approximately 7km to the north-west, and Moneta Gold’s reported multi-million-ounce gold resource on the Tower Gold Project that shares a common property boundary with Mayfair’s South Block’s eastern side. A total of 3,000 metres of drilling is planned for the South Block. Results from the regional drill programs will be released when available.

An updated open-pit constrained NI 43-101 resource estimate reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces grading 0.921 g/t gold and an Inferred Resource of 3.8M tonnes containing 75,000 ounces grading 0.618 g/t gold. The deposit has a strike length of approx. 1.25 km with widths ranging up to 300 metres. The gold mineralized zones remain open at depth and along strike to the east and west.

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