Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mayfair Gold (MFG) has announced initial drill results from the Expansion Zone at the company’s Fenn-Gib Project
  • The project is located in the Timmins region of northeast Ontario
  • The drill results are part of the fully-funded, ongoing 50,000-metre Phase 1 drill program at the Fenn-Gib Project
  • Drilling is being supported by four drill rigs, and 32 holes have been completed to date for a total of 23,241 metres
  • Mayfair Gold is down 4.12 per cent, trading at $0.93 at 9:45 am ET

Mayfair Gold (MFG) has announced initial drill results from the Expansion Zone at the company’s Fenn-Gib Project.

The project is located in the Timmins region of northeast Ontario.

The drill results are part of the fully-funded, ongoing 50,000-metre Phase 1 drill program at the Fenn-Gib Project.

Drilling is being supported by four drill rigs, and 32 holes have been completed to date for a total of 23,241 metres.

Infill drilling in one hole in the western portion of the deposit returned 241.1 metres at an average grade of 1.67 grams per tonne of gold from a downhole depth of 11.5 metres.

Previously identified underground mineralization below the western section of the Fenn-Gib deposit is not currently included in the Fenn-Gib deposit.

Most of the drill holes of the Phase 1 program are between 600 and 800 metres in length targeting potential additional underground mineralization below the conceptual open-pit.

The infill and expansion drill program within and below the current conceptual open-pit is designed to identify additional mineralization.

“The western portion of the plus 2-million-ounce Fenn-Gib deposit was well defined by the previous operators Lake Shore Gold and Tahoe Resources, with disseminated mineralization constrained within a conceptual open pit up to 300m wide and to a depth of approx. 400m below surface. There was only limited wide-spaced resource drilling in the central and eastern sections of the deposit to a depth of approx. 200m below surface. Two of our four drill rigs are targeting this Expansion Zone.

We are extremely pleased to be defining additional, higher-grade mineralization in the Expansion Zone, which increases our confidence in the potential to upgrade Fenn-Gib’s resource estimate to plus 3 million ounces by the end of 2021,” said Mayfair Gold President and CEO Patrick Evans.

Mayfair is focused on advancing its flagship 100-per-cent owned Fenn-Gib gold project in the Timmins region of Northern Ontario.

Mayfair Gold is down 4.12 per cent, trading at $0.93 at 9:45 am ET.

More From The Market Herald
Traction Uranium

" Traction Uranium (CSE:TRAC) announces new chairman and CFO

Traction Uranium (TRAC) has appointed Mr. Blair Way as the Chairman of the Board of Directors and Tasheel Jeerh as Chief Financial Officer.
FireFox Gold Corp. (TSXV:FFOX) - President & CEO, Carl Löfberg.

" FireFox (TSXV:FFOX) completes initial drilling at its Finland projects

FireFox Gold Corp. (FFOX)has competed initial drilling at its Jessiö, Mustajärvi, and Sarvi Projects in Finland.

" Cordoba Minerals (TSXV:CDB) releases diamond drilling results from San Matias Copper-Gold-Silver Project

Cordoba Minerals (CDB) released diamond drilling results from its San Matias Copper-Gold-Silver Project in Colombia.
Barrick Gold - CEO, Mark Bristow

" Barrick Gold (TSX:ABX) announces $70M investment in Tanzanian communities

Barrick Gold Corporation (ABX) has announced a $70 million investment to support the development and infrastructure of Tanzanian mine communities.