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Mayfair Gold Completes Fenn-Gib Geotechnical and Hydrogeology Field Campaign
3,200m of oriented HQ drilling completed in seven holes 5,800m downhole televiewer surveys completed Conceptual open-pit hydraulic studies completed Potential t
About this update from Mayfair Gold Corp.
[{"type":"text","content":" 3,200m of oriented HQ drilling completed in seven holes 5,800m downhole televiewer surveys completed Conceptual open-pit hydraulic studies completed Potential to increase resource ounces by steeping pit slope angle VANCOUVER, British Columbia, July 05, 2023 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTCQB: MFGCF) is pleased to announce the successful completion of the geotechnical and hydrogeology field campaigns in support of the planned Fenn-Gib pre-feasibility study. Mayfair’s 100% controlled Fenn-Gib Project, located in the Timmins region of Northeast Ontario, hosts a NI 43-101 open-pit constrained Indicated mineral resource estimate of 3.38 million ounces (Moz) gold (Au) at a grade of 0.93 grams per tonne (g/t) Au, and an Inferred mineral resource of 0.16Moz Au at 0.85 g/t Au (see the “About Mayfair” section below). The near-surface Fenn-Gib gold mineralization is broadly disseminated striking east-west on the Pipestone Fault over more than 1.5 kilometers (km) and is over 500 meters (m) wide at the west end. Mayfair Gold President and CEO Patrick Evans commented: “Mayfair’s recently reported pit-constrained resource update assumed a 50-degree pit slope angle. The potential exists to significantly increase the Fenn-Gib resource ounces by increasing the open-pit wall slope angle above 50 degrees. Analysis of the data from the field program is now underway, and the results are expected during the current quarter.” Table 1 demonstrates the Fenn-Gib Zone open-pit constrained resource sensitivity comparison by open-pit wall slope angle. Table 1. Fenn-Gib Open-Pit Constrained Resource Sensitivity by Pit Wall Slope Angle Comparison at a 0.4 g/t Au Cut-Off Grade Pit-Constrained Resources @ 0.40 g/t Au Cut-Off Grade Pit Slope (degrees) Resource Category Tonnage (T X 1000) Gold Grade (g/t) Gold Ounces (oz) 45 Indicated 108,398 0.93 3,252,000 Inferred 5,381 0.85 147,000 50 Indicated 113,688 0.93 3,383,000 Inferred 5,724 0.85 157,000 55 Indicated 127,494 0.91 3,731,000 Inferred 12,273 0.84 333,000 Note: see Mayfair Gold news release June 14, 2023 Mayfair Gold is also pleased to report that resource drilling on the higher-grade Footwall Zone, located approximately 100m to the north of the Fenn-Gib deposit, continues to make encouraging progress. The program is supported by two d...