PIEDMONT, QC, Sept.
2, 2020 /CNW Telbec/ - Typhoon
Exploration Inc. (TSXV: TYP) (« Typhoon »
or « the Company ») announces that it will launch new
exploration works on its Aiguebelle-Goldfields (Fay West)
Property, which it now solely owns.
The main drilled gold occurrence on Typhoon's ground is located
approximately 200 metres westward from the Fayolle Property, for
which Monarch Gold Corporation (MQR.TO) recently released
preliminary drill results of 3.33 grams per tonne over
109 metres (see Monarch Gold Corporation's April 30,
2020, press release).
Subsequently, on June 1st, Monarch sold Fayolle
to IAMGOLD Corporation for a total of $11.5M.
Historical drillings
Approximately 35 km north-east of the town of Rouyn-Noranda (Quebec), the Aiguebelle-Goldfields Property
covers the Porcupine-Destor Break extension.
In the past, 140 historical holes were drilled,
totalling 28,570 metres.
Sixteen (16) historical drill holes containing at least one
mineralized interval with a grade above 1 g/t over more than
two (2) metres were drilled mainly about 600 metres west
of the Fayolle zone.
Best historical results* are the following:
Grade
(g/t)
|
Length
(m)
|
Hole
number
|
3.10
|
10.2
|
83-01
|
2.70
|
10.9
|
PA-99-01
|
4.44
|
4.0
|
85-15
|
* Cautionary
note: Historical drill results do not meet actual best practice
standards acknowledged by the National
Instrument NI 43-101.They are communicated as a possible
outcome. (Source: Exploration Typhon inc. Rapport technique des
travaux de forage 2011 sur la propriété Aiguebelle-Goldfields,
canton Aiguebelle, December 2012. A.J., Beauregard,
p.geo., D. Gaudreault, ing.)
|
The Company undertook a thorough revision of all existing data,
integrating them into a digital platform, which allowed their
reinterpretation based on, among other things, magnetic data
processing by 3D inversion. This first phase provided Typhoon
a top-down understanding of the Property's gold potential and
revealed a gold distribution in three sub-parallel structures,
inside a one-kilometre-wide corridor.
Planned drillings
Drilling targets have been identified in the westward extension
of mineralized structures of the Fayolle Property.
The primary objective of the proposed work is to explore the
lateral continuity of known mineralized zones, including that of
the Fayolle deposit, and to identify possible extensions of the
gold structures associated with the deposit. A first phase of
1,000 metres will aim at locating gold-bearing structures
mostly above 200 metres. And a second phase of 3,000 to
4,000 metres will follow. Different targets are currently
evaluated inside a one-kilometre wide favourable corridor.
Typhoon is currently in the process of assessing environmental
conditions and planning surface access for a 5,000-meter drill
program. The permit application and consultation process will
continue in the coming weeks. Drilling is scheduled to begin in
September.
"We are very pleased to follow up
in this Gold Bull Market with the land package that Typhoon has
maintained. We, at Typhoon, feel that the strategy of Typhoon's
geographical location picks has been on point. Typhoon's leaders
have deep-rooted experience in the mining industry as property
developers and mine operators, and they have always been excited
about Aiguebelle-Goldfields' potential. We are pleased to commence
a drill program on it in a few weeks," says Ghislain Morin, Typhoon's CEO.
Perspective
Fayolle was brought to PEA stage under the supervision of
Typhoon via a 50/50 joint venture with Aurizon Mines prior to
Aurizon's acquisition by Hecla Quebec. The Typhoon-Aurizon
Mines joint venture was operated under the supervision of
Martin Demers, p.geo., current
consultant for Typhoon.
The technical information presented in this Press Release was
revised by Martin Demers, P.Geo. (ogq #770), consultant
for Typhoon Exploration and Qualified Person under National
Instrument 43-101 Standards of Disclosure for Mineral
Projects.
The TSX Venture Exchange and its regulatory
service provider (as defined by the TSX-V Venture Exchange rules)
cannot be held responsible for the accuracy or veracity of this
press release.
SOURCE Typhoon Exploration Inc.