Mayfair eyes 3Moz-plus Fenn-Gib resource by year-end
Mineral exploration company Mayfair Gold has reported its highest gold grade intercepts to date at Fenn-Gib, in the Timmins region of Ontario, with 63.59 g/t gold over 5 m, including 200.89 g/t over 1.5 m.
The drill results are part of the fully-funded 50 000-m Phase 1 drill programme at Fenn-Gib.
Resource infill and expansion drilling is being supported by four drill rigs and 39 holes have been completed to date for a total of 27 879 m.
“We are excited to report the highest gold grade intercepts recorded to date at Fenn-Gib. These results, combined with excellent results from the infill and expansion holes reported today, boost our confidence in the potential to upgrade Fenn-Gib’s resource estimate to plus-three-million ounces by the end of 2021,” said president and CEO Patrick Evans.
The company in February reported an updated openpit constrained NationaI Instrument 43-101 resource estimate with a total indicated resource of 70.2-milllion tonnes containing 2.08-million ounces at a grade of 0.921 g/t and an inferred resource of 3.8-million tonnes containing 75 000 oz at a grade of 0.618 g/t.
Mayfair will embark on a prefeasibility study for Fenn-Gib in early 2022. The company’s vision is for Fenn-Gib to become a net-zero carbon gold project.
To achieve carbon neutrality, Mayfair aims to design a project that relies principally on renewable energy sources. With a major Ontario hydropower line traversing the 4 800 ha Fenn-Gib property, Mayfair is well placed to take advantage of renewable energy.
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