Mayfair Gold drills 4.72 g/t gold over 30 metres at Fenn-Gib, Ontario

Mayfair Gold Corp. [MFG-TSXV; MFGCF-OTCQB] reported further results from the higher-grade footwall zone located approximately 100 metres northwest of the Fenn-Gib gold deposit. Mayfair’s 100%-controlled Fenn-Gib project, located in the Timmins region of Northeast Ontario, hosts a NI 43-101 open-pit-constrained indicated mineral resource estimate of 3.38 million ounces gold at a grade of 0.93 g/t gold and an inferred mineral resource of 160,000 gold at 0.85 g/t gold.

The near-surface Fenn-Gib gold mineralization is broadly disseminated, striking east-west on the Pipestone fault over more than 1.5 km, and is over 500 metres wide at the west end.

Mayfair Gold president and CEO Patrick Evans commented: “Two of the three drill rigs at Fenn-Gib are focused on delineating the higher-grade footwall zone mineralization. Ongoing drilling this year has extended the strike of the near-surface footwall zone mineralization to approximately 500 metres and vertically down to more than 500 metres below surface. The footwall zone target consists of multiple parallel mineralized zones and is open in all directions. Based on the progress to date, Mayfair expects to report a maiden underground footwall zone resource in early 2024.”

Highlight drill results: FG23-344A intersected 4.72 g/t gold over 30.0 metres, including 6.59 g/t gold over 19.6 metres; FG23-328 intersected 15.65 g/t gold over 1.5 metres and 7.94 g/t gold over 7.0 metres; and G23-330 intersected 3,782.70 g/t gold over 0.5 metres.

The footwall zone is located immediately to the northwest of the Fenn-Gib deposit, striking in a northeasterly direction and with a steep northerly dip. The target consists of multiple mineralized zones hosted primarily in the footwall mafic volcanic assemblage. Mineralization consists of bleached, buff-altered (silica-albite-carbonate alteration), pillowed mafic volcanics with pyrite ranging from 2% to over 20%.

Limited past drilling identified gold mineralization within the footwall mafic volcanics immediately to the northwest of the Fenn-Gib deposit in drill holes FG11-04 (3.54 g/t Au over 10.0 m), FG11-05 (3.62 g/t Au over 59.0 m), FG11-07 (4.03 g/t Au over 3.0 m) and FG11-08 (2.24 g/t Au over 39.4 m).

The latest drill results continue to intersect significant gold mineralization, building on Mayfair’s previously reported footwall zone drill results. FG21-139 intersected 1.94 g/t Au over 38.0 m, including 4.06 g/t Au over 15.0 m. FG21-166 intersected 1.42 g/t Au over 66.0 m, including 3.4 g/t Au over 19.2 m, including 6.20 g/t Au over 9.2 m. A lower zone in FG21-166 returned 1.02 g/t Au over 34.0 m, including 11.49 g/t Au over 1.0 m. FG21-170 intersected 37.51 g/t Au over 2.6 m and 59.05 g/t over 1.0 m. FG21-186 intersected 2.31 g/t Au over 30.0 m, including 6.58 g/t Au over 7.0 m. FG21-195 intersected 1.28 g/t Au over 28.0 m, including 1.74 g/t Au over 16.0 m. FG21-188 intersected 25.93 g/t Au over 1.5 m and 1.37 g/t Au over 25.5 m, including 5.4 g/t Au over 5.0 m. FG21-203 intersected 2.70 g/t Au over 15.0 m, including 4.04 g/t Au over 9.0 m, including 7.18 g/t Au over 4.0 m; FG21-215 intersected 2.88 g/t Au over 49.0 m, including 6.53 g/t Au over 17.5 m, and FG22-218 intersected 0.71 g/t Au over 92.0 m, including 2.15 g/t Au over 10.0 m. A lower zone returned 2.40 g/t Au over 47.4 m, including 3.83 g/t Au over 4.7 m, 5.26 g/t Au over 6.6 m and 6.78 g/t Au over 7.0 m. FG23-300 intersected 2.05 g/t Au over 16.2 m, including 3.72 g/t Au over 6.2 m.

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

The Fenn-Gib gold deposit is Mayfair’s flagship asset and currently hosts an updated NI 43-101 resource estimate with an effective date of April 6, 2023, of a total indicated resource of 113.69 million tonnes containing 3.38 million ounces at a grade of 0.93 g/t gold and an inferred resource of 5.72 million tonnes containing 160,000 ounces grading of 0.85 g/t gold at a 0.40 g/t gold cut-off grade. The Fenn-Gib deposit has a strike length of over 1.5 km, with widths ranging over 500 metres. 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%.