Mayfair Gold drills 1.85 g/t gold over 130.5 metres at Fenn-Gib, Ontario

Mayfair Gold Corp. [MFG-TSXV; MFGCF-OTCQB] reported the ninth 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 ounces and an Inferred Resource of 0.31M 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.

Patrick Evans, president and CEO, commented: “The Fenn-Gib 2022 expansion drill program continues to define wide areas of higher-grade gold mineralization within and below the current conceptual open pit. As the end of the current 110,000-metre drill program approaches, planning is underway for the continuation of the expansion drill program in 2023. The focus will be twofold: first, to continue defining potentially open-pittable gold mineralization in the higher-grade areas on the east side of the deposit; and second, to build on the maiden high-grade underground resource on the west side of the deposit.”

Highlight drill results include hole FG22-272 that  intersected 1.85 g/t gold over 130.5 metres, including 2.70 g/t gold over 83.0 metres, including 5.14 g/t gold over 29.2 metres. FG22-274 intersected 0.71 g/t gold over 162.9 metres, including 1.09 g/t gold over 37.3 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 1.10 g/t gold over 366.7 metres from near-surface, including 4.12 g/t gold over 14.0 metres and 5.66 g/t gold over 16.0 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 1.40 g/t gold over 65.0 metres, including 1.79 g/t gold over 44.6 metres. FG22-250 intersected 0.87 g/t gold over 311.0 metres, including 1.08 g/t gold over 57.0 metres, including 1.10 g/t gold over 99.0 metres and 1.36 g/t gold over 33.6 metres and hole FG22-254 intersected 1.12 g/t gold over 102.0 metres, including 2.66 g/t gold over 25.3 metres. Refer to original company press release for more previous drill results.

Additional drill results from the infill, expansion and step-out drill program will be announced as they are received. Mayfair also announced the granting of incentive stock options to certain directors, officers, employees of the company pursuant to the company’s long-term incentive plan. Options have been granted for an aggregate of 2,330,000 common shares in the capital of the company at an exercise price of $1.29. Subject to certain vesting conditions, the Options are exercisable up to December 7, 2032.

The Fenn-Gib deposit has a strike length of approximately 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. Recently completed metallurgical tests confirm that the Fen-Gib deposit can deliver robust gold recoveries of up to 94%.

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