Mayfair Gold (MFG.V): Drills 226.0m at 0.92 g/t Gold at Fenn-Gib Expansion Zone

• Including 26.0m at 1.56 g/t Gold
• Mineralization outside current pit-constrained Indicated 2.08M ounce Resource
• Four drill rigs active at Fenn-Gib North Block
• 37,971 completed in 55 holes
• Preparations underway for South Block Exploration Program

VANCOUVER, British Columbia, Sept. 27, 2021 (GLOBE NEWSWIRE) — Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTCQB: MFGCF; FRA:9M5) is pleased to announce further drill results from the Fenn-Gib Expansion Zone. The Fenn-Gib deposit, located in the Timmins region of Northeast Ontario, hosts a pit-constrained Indicated Resource of 2.08M ounces with disseminated gold mineralization striking east-west on the Pipestone Fault over 1.25 kilometers and up to 300 meters (m) wide at the west end.

The Fenn-Gib Expansion Zone lies below the shallow central section of the current conceptual open pit. The drill results reported below are part of the fully-funded, ongoing 50,000m Phase 1 drill program at the Fenn-Gib project. Resource infill and expansion drilling is being supported by four drill rigs, and 55 holes have been completed to date for a total of 37,971m.

Mayfair Gold President and CEO Patrick Evans commented: “Our 2021 drill campaign is delivering excellent results. We continue to hit gold mineralization in every hole we’ve drilled. The steady stream of very good results from the central Expansion Zone boosts our confidence that we’ll be able to upgrade the Fenn-Gib gold deposit to plus 3 million ounces.”

Numerous historic drill holes in the upper Fenn-Gib deposit did not drill through the entire mineralized stratigraphy, with some holes ending in mineralization. The infill and expansion drill program within and below the current conceptual open pit is designed to identify additional mineralization in support of our target to grow the Fenn-Gib deposit to more than 3 million ounces.

Drill Results

The Fenn-Gib Expansion Zone drilling is supported by two of the four drill rigs and is targeting the shallow central section below the current conceptual open pit. Highlights of the newly reported mineralized intervals include:

1. FG21-151 intersected 0.82 g/t Au over 181.7m, including 1.50 g/t Au over 32.5m;
2. FG21-154 intersected 0.71 g/t Au over 135.5m including 1.43 g/t over 33.0m;
3. FG21-157 intersected 0.70 g/t Au over 167.8m including 3.02 g/t Au over 10.0m; and
4. FG21-163 intersected 0.92 g/t Au over 226.0m including 1.56 g/t over 26.0m.

The latest drill results continue to intersect significant gold mineralization building on the previously reported Expansion Zone results, including 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 (news release July 27, 2021), and 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 25.5m at a grade of 4.70 g/t Au (news release August 17, 2021). 

The latest drill results from the central Expansion Zone are summarized in Table 1 below. Additional results will be released as they are received.

Table 1 – Fenn-Gib 2021 Expansion Zone Drill Results Summary

Plan and section maps, including the above drill holes, can be found at https://mayfairgold.ca/fenn-gib/#drillplanmap&sections.

In addition to the 100%-controlled Fenn-Gib North Block, Mayfair Gold also controls 100% of the highly prospective Fenn-Gib South Block, located approx. 3 kilometers to the south of the North Block. The 14.72 km² South Block straddles the gold-bearing Porcupine-Destor fault over a strike of approx. 6 kilometers. Current and past producing gold mines, including the Ross Mine, the Black Fox Mine and the Gray Fox deposit, are located on strike to the northwest of the South Block. Gold deposits and past producing mines are also located on strike to the east of the South Block.

Without road access, the South Block has seen only limited exploration dating back to the mid-1980s, when Homestake Mining conducted scout drilling across the area, intersecting gold in most of their drill holes. Mayfair’s recently completed high-resolution airborne MAG survey included coverage of the entire South Block. Based on the results of that survey, as well as past drilling, Mayfair is currently designing an exploration program for the South Block that will be managed separately from the 50,000m North Block drill program. Details of the South Block exploration program will be announced in the near future.

QA/QC Controls

Mayfair employs a QA/QC program consistent with NI 43-101 and industry best practices. Surface drilling was conducted by Major/Norex Drilling of Timmins, Ontario and was supervised by the Mayfair exploration team. Mayfair’s drill program includes descriptive logging and sampling of the drill core for analysis at Mayfair’s secure facility located in Matheson, Ontario. Sampled drill core intervals were sawn in half with a diamond blade saw. Half of the sampled core was left in the core box and the remaining half was bagged and sealed. Mayfair utilizes accredited laboratories, and the samples were transported by Mayfair personnel to the Actlabs laboratory in Timmins, Ontario. Gold was analyzed by 30-gram fire assay with AA-finish. Certified reference material (CRM) standards and coarse blank material are inserted every 20 samples. Drill intercepts cited do not necessarily represent true widths, unless otherwise noted.

About Mayfair

Mayfair is a Canadian mineral exploration company focused on advancing the 100% owned Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair’s flagship asset. An updated open-pit constrained NI 43-101 resource estimate (February 5, 2021) reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit has a strike length of approx. 1.25km with widths ranging up to 300m. The gold mineralized zones remain open at depth and along strike to the east and west.

For further information contact:

Patrick Evans, President and CEO
Email: [email protected]
Phone: (416) 670-5114
Web: www.mayfairgold.ca

Qualified Person Statement

Mayfair Gold’s disclosure of technical and scientific information in this news release has been reviewed and approved by Howard Bird, P Geo., Vice President Exploration for the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements“) that relate to Mayfair’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news 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 could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors. Mayfair undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Mayfair to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.