- Mayfair Gold (MFG) has released a review of its first year of operations at the Fenn-Gib gold project in Ontario
- The company’s vision is to grow the Fenn-Gib resource to over 3 million ounces by conducting infill and expansion drilling across the project
- So far, the company has drilled a total of 54,741 metres of an 80,000 metre drill program
- The company is also conducting metallurgical testing and geophysical surveys across the property
- Mayfair is a Canadian mineral exploration company
- Shares in Mayfair Gold (MFG) are currently down 4.40 per cent, trading at $0.87 per share
Mayfair Gold (MFG) has released a review of its first year of operations at the Fenn-Gib gold project in Ontario.
The company acquired Fenn-Gib, which hosts an indicated resource of 70.2 million tonnes containing 2.08 million ounces of gold, in December 2020.
Since then, Mayfair has developed a vision to grow the Fenn-Gib resource to over 3 million ounces by conducting infill and expansion drilling across the project.
“With a full crew of geologists and technicians on staff at closing, we hit the ground running with the first drill rig turning within three weeks,” commented Mayfair president and CEO Patrick Evans. “By mid-2021, we had four drill rigs turning and made excellent progress throughout the year.”
So far, the company has drilled a total of 54,741 metres in 89 holes. Mayfair expects to complete the 80,000-metre drill program by Q2 2022 and plans to update its mineral resource estimate by Q3.
Concurrent with the drill program, Mayfair resumed metallurgical testing of Fenn-Gib mineralization in 2021. The final results of a flowsheet trade-off study are expected in Q2 2022.
“Outside the current deposit, Fenn-Gib has never seen methodical regional exploration using modern technology,” remarked Mr. Evans, adding that “While our vision is to grow the current deposit to plus 3M ounces, we believe prospects for the discovery of additional deposits on both the North and South Blocks are very good.”
Ground geophysics on the North Block will commence shortly, followed by a 7,000-metre Phase 1 regional drill program. At the South Block, line cutting will also commence shortly to allow access for ground geophysics in preparation for a 3,000-metre Phase 1 drill program.
Mayfair is a Canadian mineral exploration company focused on advancing the Fenn-Gib gold project in the Timmins region of northern Ontario.
Shares in Mayfair Gold (MFG) are currently down 4.40 per cent, trading at $0.87 per share as of 1:24 pm EST.