Fen-Gib Resource Expansion And Drill Program Show Wide Intercepts Of Gold Mineralization

VANCOUVER - Mayfair Gold Corp. reported on the Fenn-Gib resource expansion and infill drill program. Mayfair’s 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 (M) 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 kilometers (km) and up to 300 meters (m) wide at the west end.

President and CEO, Patrick Evans, said, “Exceptionally wide intercepts of gold mineralization continue to be reported from ongoing infill and expansion drilling at the Fenn-Gib deposit. Holes FG22-294A and 298A, drilled on the same section, successfully extended significant gold mineralization well into the north side of the current conceptual open pit. Additional results from Fenn-Gib infill drilling are pending.”

Highlight drill results include: FG22-298A intersected 0.71 grams per tonne (g/t) Gold (Au) over 371.0m, including 1.00 g/t Au over 71.0m and 0.91 g/t Au over 137.8m; and FG22-294A intersected 11.43 g/t Au over 6.0m including 64.15 g/t Au over 1.0m, 0.90 g/t Au over 121.7m including 1.12 g/t Au over 45.5m and 1.56 g/t Au over 28.6m, 0.53 g/t Au over 42.4 (this last interval remains open downhole with assays pending).

The latest drill results continue to intersect significant gold mineralization building on the previously reported Fenn-Gib results, including: hole FG22-253 intersected 1.10 g/t Au over 366.7m from near-surface, including 4.12 g/t Au over 14.0m and 5.66 g/t Au over 16.0m, hole FG22-267 intersected 1.53 g/t Au over 133.7m, including 3.18 g/t Au over 53.4m; hole FG22-242 intersected 1.40 g/t Au over 65.0m, including 1.79 g/t Au over 44.6m; FG22-250 intersected 0.87 g/t Au over 311.0m, including 1.08 g/t Au over 57.0m, including 1.10 g/t Au over 99.0m and 1.36 g/t Au over 33.6m and hole FG22-254 intersected 1.12 g/t Au over 102.0m, including 2.66 g/t Au over 25.3m; hole FG21-148 which intersected 101.0m at a grade of 0.88 g/t Au, including 51.7m at a grade of 1.16 g/t Au; hole FG21-149 intersected 101.9m at a grade of 0.75 g/t Au, including 18.0m at a grade of 1.77 g/t Au; hole FG21-150 intersected 65.5m at a grade of 1.18 g/t Au, including 10.0m at a grade of 4.24 g/t Au; hole FG21-153 intersected 233.0m at a grade of 1.05 g/t Au, including 84.0m at a grade of 1.83 g/t Au, and also including 25.5m at a grade of 4.70 g/t Au. FG21-206 intersected 0.93 g/t Au over 134.2m, including 1.31 g/t Au over 78.3m, and hole FG21-213 intersected 1.02 g/t Au over 92.7m. Hole FG21-190 intersected 0.59 g/t Au over 158.0m, including 1.07 g/t Au over 34.0m, hole FG21-217C intersected 0.77 g/t Au over 184.5m, including 0.98 g/t Au over 62.0m, and including 1.31 g/t Au over 18.8m, and hole FG22-223 intersected 1.21 g/t Au over 112.1m, including 3.04 g/t Au over 31.5m. Hole FG22-272 intersected 1.85 g/t Au over 130.5m, including 2.70 g/t Au over 83.0m, including 5.14 g/t Au over 29.2m, and hole FG22-274 intersected 0.71 g/t Au over 162.9m, including 1.09 g/t Au over 37.3m. Hole FG22-291 intersected 1.06 g/t Au over 163.1m, including 2.92 g/t Au over 23.2m; hole FG22-240 intersected 13.2 g/t Au over 1.5, 0.80 g/t Au over 96.0m, including 1.71 g/t Au over 29.0m, 43.70 g/t Au over 1.5m and 6.14 g/t Au over 3.2m; and hole FG22-276A intersected 20.93 g/t Au over 1.0m, 0.78 g/t Au over 187.5m, including 1.26 g/t Au over 77.9m.

“Currently, two drill rigs are defining the full extent of the higher-grade Footwall Zone mineralization located immediately to the northwest of the Fenn-Gib deposit. A third drill rig is executing the open-pit geotechnical program in support of Mayfair’s planned pre-feasibility study, which is scheduled to begin shortly and expected to be completed in H2 2023. On the Fenn-Gib North Block, approximately 102 line km of IP geophysical surveys were completed on Grid A, successfully defining five new compelling coincident IP chargeability and resistivity drill targets. The IP survey on Grid B over the Footwall Zone gold trend is expected to be completed by month end. Results from the geophysical programs will guide further drill programs, Evans said.”