Total
0
Shares
Source: Mayfair Gold Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mayfair Gold (MFG) announced further drill results from its Fenn-Gib Expansion Zone
  • The Fenn-Gib deposit is located in the Timmins region of Northeast Ontario
  • The company has completed 78 holes totalling 50,145 metres, including 1.22 grams of gold per tonne over 65.9 metres
  • There are currently three drill rigs working on the Fen-Gib North Block
  • Mayfair Gold is up 2.5 per cent, trading at $0.82 at 12:57 pm ET

Mayfair Gold (MFG) has announced further drill results from its Fenn-Gib Expansion Zone.

The Fenn-Gib deposit is located in the Timmins region of Northeast Ontario.

The Ontario-based mineral exploration company has completed 78 holes covering 50,145 metres at the project, including 1.22 grams of gold per tonne over 65.9 metres.

There are currently three drill rigs working on the Fen-Gib North Block.

The Fenn-Gib Expansion Zone lies below the shallow central section of the current conceptual open pit.

The deposit hosts a pit-constrained Indicated Resource of 2.08 million ounces with disseminated gold mineralization striking east-west on the Pipestone Fault over 1.25 kilometres.

“Our 2021 drill campaign continues to deliver excellent results with gold mineralization in every hole. We are delighted that we have now reached the Fenn-Gib 50,000-metre Phase 1 infill and expansion drill program milestone earlier than scheduled. We look forward to continued positive results from the expanded 30,000-metre Phase 2 drill program, which we expect to complete in the second quarter of 2022,” said Mayfair Gold President and CEO Patrick Evans.

A fourth drill rig will be mobilized in mid-January for a 7,000-metre North Block drill program at the priority Horseshoe target.

The Fenn-Gib gold deposit is Mayfair’s flagship asset and gold mineralized zones remain open at depth and along strike to the east and west.

Mayfair Gold is up 2.5 per cent, trading at $0.82 at 12:57 pm ET.

More From The Market Herald

" Rock Tech Lithium (TSXV:RCK) announces results from Lithium Hydroxide Converter engineering study

Rock Tech Lithium (RCK) has announced the results of an engineering study for the merchant lithium hydroxide converter and refinery facility in Guben, Germany.

" Search Minerals (TSXV:SMY) announces $5M private placement

Search Minerals (SMY) is conducting a non-brokered private placement for gross proceeds of up to $5,000,000.

" DLP Resources (TSXV:DLP) updates proposed private placement

DLP Resources (DLP) intends to complete an offering of up to 2,000,000 FT units for gross proceeds of $500,000.

" Advance United Holdings (CSE:AUHI) launches the Advance United Marketplace

Advance United Holdings (AUHI) has introduced a platform for owners of mineral commodities to connect with developers and producers.