Mayfair Gold drills 1.25 g/t gold over 119.6 metres at Fenn-Gib, Ontario

Mayfair Gold Corp. [MFG-TSXV; MFGCF-OTCQB] reported the latest set of drill results 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 ounces and an inferred resource of 310,000 ounces, with disseminated gold mineralization striking east-west on the Pipestone fault over more than 1.25 km and up to 300 metres wide at the west end.

“Wide areas of higher-grade gold mineralization continue to be defined within and below the current conceptual open pit,” said Mayfair Gold president and CEO Patrick Evans. “The near-surface, higher-grade mineralization on the west side of the Fenn-Gib deposit opens the potential for a high-grade starter pit. Further expansion drilling below the conceptual open pit is planned to determine the depth extension of the western high-grade zone. Based on assay results received to date, Mayfair is planning to release an updated NI 43-101 resource statement in the second quarter.

“The geotechnical drill program, drill hole televiewer survey and the hydrogeological survey on the conceptual open pit have commenced to support Mayfair’s planned prefeasibility study, which is scheduled to begin shortly and expected to be completed in H2 2023. The South block regional exploration program has advanced with approximately 132 line-km of induced polarization and magnetic geophysical surveys completed, covering the regional gold-bearing Destor-Porcupine fault. Interpretation is in progress in preparation for a drill program. On the Fenn-Gib North block, approximately 102 line-km of IP surveys were completed on grid A, successfully defining five new compelling coincident IP chargeability and resistivity drill targets. The IP survey is currently progressing over the footwall zone gold trend.”

Highlights: FG22-297 intersected 1.25 g/t gold over 119.6 metres, including 2.31 g/t gold over 51.9 metres including 3.86 g/t gold over 15 metres.

FG22-283 intersected 0.64 g/t Au over 277.2 metres, including 1.05 g/t Au over 63.2 metres, 2.51 g/t Au over 13 metres and 0.89 g/t Au over 32 metres. FG22-287 intersected 0.89 g/t Au over 12 metres, 0.46 g/t Au over 90 metres and 0.76 g/t Au over 95.9 metres.

FG22-285 intersected 0.69 g/t Au over 44.5 metres, including 1.4 g/t Au over 15.7 metres and 1.05 g/t Au over 11.8 metres. FG22-279 intersected 0.62 g/t Au over 84 metres, including 0.87 g/t Au over 16.5 metres and 0.69 g/t Au over 45.4 metres, as well as 0.98 g/t Au over 19 metres and 1.47 g/t Au over 12.8 metres.

The latest drill results continue to intersect significant gold mineralization, building on the previously reported Fenn-Gib results, including hole FG22-253 that intersected 1.1 g/t gold over 366.7 metres from near surface, including 4.12 g/t Au over 14 metres and 5.66 g/t Au over 16 metres, and hole FG22-267 intersected 1.53 g/t Au over 133.7 metres, including 3.18 g/t Au over 53.4 metres.

Resource drilling is continuing at Fenn-Gib, supported by three drill rigs. Two of the rigs are currently drilling at the Fenn-Gib footwall zone, while the third is focused on the small-pit area west of the main deposit.

Moving forward, the focus of resource drilling will be fourfold: defining the full extent of the higher-grade footwall zone mineralization immediately to the northwest of the Fenn-Gib deposit; expanding potentially open-pittable gold mineralization in the higher-grade areas on the east side of the deposit; exploring the potential of underground mineralization on the west side of the deposit; testing high-priority drill targets identified by the recently completed regional exploration program.

Additional drill results from the infill, expansion and stepout drill program will be released as they are received.

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%.