November 23, 2021 08:00 ET | Source: Mayfair Gold Corp. Mayfair Gold Corp.

Vancouver, British Columbia, November 23, 2021 (GLOBE NEWSWIRE) - Mayfair Gold Corp. ("Mayfair" or "Company") (TSX-V: MFG; OTCQB: MFGCF) is pleased to announce further drilling results Fenn -Gib extension area. The Fenn-Gib deposit is located in the Timmins area of ​​northeastern Ontario. It has 2.08 million ounces of pit restricted indication resources. There is east-west gold mineralization on the Pipestone fault, which is more than 1.25 kilometers wide and 300 meters wide at the western end.

The Fenn-Gib expansion area is located below the shallow central part of the current conceptual open-pit mine. The drilling results reported below are part of a well-funded, ongoing 80,000-meter drilling program. 3 drilling rigs support resource densification and expansion drilling. 78 drilling holes have been completed with a total length of 50,145m.

Patrick Evans, President and CEO of Mayfair Gold, commented: "Our drilling activities in 2021 continue to achieve excellent results, with gold mineralization in every hole. We are very pleased that we are now ahead of schedule. The Fenn-Gib 50,000m first phase of the encryption and expansion drilling plan milestone has been reached. We look forward to the continued positive results of the expanded 30,000 million second phase drilling plan, and we expect the plan to be completed in the second quarter of 2022."

Mr. Evans added: “We are very pleased to start our regional exploration program in the northern and southern blocks of Fenn-Gib in early January. In mid-January, the fourth drilling rig will be located approximately 1 kilometer northwest of the Fenn-Gib deposit. The prioritized horseshoe-shaped target area on the Pipestone Fault starts at the 7,000-meter north block. In addition, wire-cutting and ground geophysics will begin in the south block in early January, followed by the first 3,000-meter drilling program. "

Many historical boreholes in the upper Fenn-Gib deposit did not penetrate the entire mineralized formation, and some boreholes ended in mineralization. The current infill and extended drilling plan inside and below the conceptual open-pit mine is designed to identify additional mineralization to support Mayfair's goal of increasing the Fenn-Gib deposit to more than 3 million ounces.

The Fenn-Gib Expansion Zone drilling is supported by two of three drilling rigs, and the target is the shallow central part below the current concept open-pit mine. Highlights of the newly reported mineralized zones include:

The latest drilling results continue to intersect with the previously reported results of the expansion zone, including the intersection of FG21-148 with 101.0m, grade of 0.88 g/t Au, including 51.7m, grade of 1.16 g/t Au, FG21-149 hole at 0.75 g /t Au grade intersects 101.9m, including 18.0m at 1.77 g/t Au grade, FG21-150 hole intersects at 1.18 g/t Au grade at 65.5m, including 10.0m grade is 4.24 g/t Au (press release (July 27, 2021), FG21-153 hole intersects 233.0m at a grade of 1.05 g/t Au, including 84.0m with a grade of 1.83 g/t Au, including 25.5 million, with a grade of 4.70 g/t Au (press release , August 17, 2021). 

In addition, the newly reported Fenn-Gib borehole FG21-147b is located on the west side of the conceptual open-pit mine wall and close to 0.33 g/ton of gold within 28.0m of the intersection with the open-pit mine and 0.98 g/ton of gold over 30.5 meters. m and 0.44 g/t Au exceed 59.0m, and the intersection of 0.90 g/t exceeds 57.0m and 0.89 g/t Au exceeds 14.0m outside the open-pit mine.

Table 1 summarizes the latest drilling results of the central expansion area and the conceptual borehole. Table 2 lists the following drilling details. Other results will be published as they are received.

Table 1-Summary of Fenn-Gib Drilling Results in 2021

Table 2-Fenn-Gib 2021 drilling details

The plan and section diagrams including the above drill holes can be found at https://mayfairgold.ca/fenn-gib/#drillplanmap§ions                                          

Mayfair adopts a QA/QC program that complies with NI 43-101 and industry best practices. The surface drilling was performed by Major/Norex Drilling in Timmins, Ontario, and supervised by the Mayfair exploration team. Mayfair’s drilling program includes descriptive records and core sampling for analysis at Mayfair’s safety facility in Matheson, Ontario. Saw the sampled core in half with a diamond saw blade. Half of the sampled cores are kept in the core box, and the remaining half are bagged and sealed. Mayfair uses accredited laboratories and samples are shipped by Mayfair personnel to the Actlabs laboratory in Timmins, Ontario. The gold has passed 30g fire test analysis and AA polished. For every 20 samples, the certified reference material (CRM) standard and rough blank materials are inserted. Unless otherwise stated, the borehole intercept quoted does not necessarily represent the true width. 

Mayfair is a Canadian mineral exploration company focused on advancing the 100% Fenn-Gib gold project in the Timmins region of northern Ontario. The Fenn-Gib gold mine is Mayfair's flagship asset. The updated open-air restricted NI 43-101 resource estimate (February 5, 2021) reported a total indicated resource of 70.2 million tons, containing 2.08 million ounces, a grade of 0.921 g/ton gold, and an inferred resource of 3.8 million tons. Contains 75,000 ounces, with a grade of 0.618 g/ton gold. The strike length of the deposit is approx. 1.25 kilometers, the width can reach 300 meters. The gold mineralization zone remains open to the east and west in the depths and along the strike.

Patrick Evans, President and CEO Email: patrick@mayfairgold.ca Phone: (416) 670-5114 Website: www.mayfairgold.ca

The technical and scientific information disclosed by Mayfair Gold in this press release has been reviewed and approved by the company's vice president of exploration Howard Bird, P Geo. He is a qualified person as defined by National Instrument 43-101.

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively referred to as "forward-looking statements") that are related to Mayfair’s current expectations and views on future events. Any expression or statement involving expectations, beliefs, plans, goals, assumptions, or future events or performance (usually, but not always, through the use of such statements as "may cause", "expected", "expected", "will continue "," "anticipation", "anticipation", "believe", "estimate", "plan", "plan", "forecast", "forecast", "strategy", "objective" and "forecast") are not historical facts, May be forward-looking statements that may involve estimates, assumptions and uncertainties, which may cause actual results or results to differ materially from those expressed in such forward-looking statements. There can be no assurance that these expectations will prove to be correct, and there should be no undue reliance on such forward-looking statements contained in this press release. These statements are only effective as of the date of this press release.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Mayfair’s control, which may cause actual results and events to differ materially from those disclosed or implied in such assumptions . Forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progress of the COVID-19 pandemic and other factors. Unless required by law, Mayfair assumes no obligation to update or revise any forward-looking statements, whether due to new information, future events, or other reasons. New factors appear from time to time, and Mayfair cannot predict all of these factors, or assess the impact of each of these factors, or the extent to which any factor or combination of factors may cause the results to differ materially from these factors, included in any forward-looking statements. The entire contents of any forward-looking statements contained in this press release are expressly bound by this cautionary statement.

Neither TSX Venture Exchange nor its regulatory service providers (as the term is defined in the policies of TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this press release.