Mayfair Gold drills 1.06 g/t gold over 163.1 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.

“The size and quality of the Fenn-Gib deposit is evident from the wide areas of higher-grade gold mineralization we continue to define both within and below the current conceptual open pit,” said Mayfair Gold president and CEO Patrick Evans. “Gold mineralization has been intercepted in every hole drilled over the past 27 months; however, it is apparent from some of the lower-grade intercepts reported today that we are approaching the outer limits of the Fenn-Gib mineralization. Based on assay results received to date, Mayfair is planning to release an updated NI 43-101 resource statement in the second quarter.

“Planning is also underway for geotechnical drilling and hydrogeology campaigns, which are scheduled to commence in April. The data from these campaigns will support Mayfair’s planned prefeasibility study, which is also scheduled to commence shortly and expected to be completed in H2 2023.”

Highlights: FG22-291 intersected 1.06 g/t gold over 163.1 metres, including 2.92 g/t gold over 23.2 metres, including 4.61 g/t gold over 10.9 metres.

FG22-240 intersected 13.2 g/t Au over 1.5 m, 0.8 g/t Au over 96 m, including 1.71 g/t Au over 29 m, 43.7 g/t Au over 1.5 m and 6.14 g/t Au over 3.2 m.

FG22-276A intersected 20.93 g/t Au over one m and 0.78 g/t Au over 187.5 m, including 1.26 g/t Au over 77.9 m. FG22-277A intersected 0.56 g/t Au over 334 m, including 0.86 g/t Au over 102 m.

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 gold over 14 metres and 5.66 g/t gold over 16 metres.

Hole FG22-267 intersected 1.53 g/t gold over 133.7 metres, including 3.18 g/t gold over 53.4 metres. Hole FG22-242 intersected 1.4 g/t gold over 65 metres, including 1.79 g/t gold over 44.6 metres. See original press release for more drill rersults.

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: expanding potentially open-pittable gold mineralization in the higher-grade areas on the east side of the deposit; defining the full extent of the higher-grade footwall zone mineralization immediately to the northwest of the deposit; exploring the potential of underground mineralization on the west side of the deposit; and testing high priority drill targets identified by the regional exploration program nearing completion.

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

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