Welcome to our dedicated page for Mayfair Gold news (Ticker: MFGCF), a resource for investors and traders seeking the latest updates and insights on Mayfair Gold stock.
Mayfair Gold Corp (MFGCF) generates a steady flow of news as it advances its 100%-owned Fenn-Gib gold project in the Timmins region of Northern Ontario. As a Canadian gold development and mineral exploration company, its updates often center on technical studies, resource estimates, financing activities, and project milestones related to Fenn-Gib.
Readers following Mayfair Gold news can expect detailed coverage of NI 43-101 technical reports, including mineral resource estimate updates and the filing of formal technical reports for the Fenn-Gib project. The company also issues news on its Pre-Feasibility Study, outlining mine plans, production scenarios, capital cost estimates, and project economics for a proposed open-pit operation targeting near-surface high-grade mineralization.
News items frequently highlight project development progress, such as drilling programs to refine the geological model and starter pit design, geotechnical and hydrogeological investigations for the tailings storage facility, and steps in the Ontario Provincial permitting process. Corporate developments, including equity financings, share consolidations, listing applications, and management appointments, are also regular themes in Mayfair’s disclosures.
Because Mayfair Gold’s strategy is closely tied to the Fenn-Gib deposit, its news flow provides insight into how the company is working to derisk the project through technical work, environmental baseline studies, and stakeholder engagement, including agreements with nearby Indigenous communities. For investors and observers interested in gold development projects in the Timmins Gold District, this news page offers an organized view of Mayfair’s ongoing announcements and project updates.
Bookmark this page to access a chronological feed of Mayfair Gold press releases, from resource and reserve updates to financing transactions and conference participation, all connected to the company’s efforts to advance Fenn-Gib toward potential production.
Mayfair Gold Corp. (MFGCF) has announced a non-brokered private placement financing to raise up to $6 million by offering up to 2,420,000 common shares priced at $2.48 each, reflecting a premium of approximately 37% over the previous closing price. The proceeds will support the exploration program at the Fenn-Gib gold project in Ontario, with the offering expected to close around May 10, 2023.
All funds will qualify as Canadian Exploration Expenses under the Income Tax Act, with a renouncement effective no later than December 31, 2023. The shares will have a four-month hold period and will not be available for public sale in the United States. The Fenn-Gib project hosts significant gold resources, totaling 3.06 million ounces in the Indicated category and 0.31 million ounces Inferred.
Mayfair Gold Corp. has completed 125,000 meters of a 140,000 meter infill and expansion drill program at its Fenn-Gib project in Ontario, which hosts a NI 43-101 indicated resource of 3.06 million ounces. A resource update is anticipated in Q2 2023, while a pre-feasibility study is planned for H2 2023. Significant gold mineralization has been consistently identified within the deposit, with notable drill results including 1.25 g/t Au over 119.6m and ongoing geophysical surveys aimed at identifying additional drill targets. The company is committed to further evaluating the high-grade mineralization potential both above and below the open pit limits.
Mayfair Gold Corp. announced the completion of 122,000 meters of its 140,000 meter infill and expansion drill program at the Fenn-Gib Project in Northeast Ontario. The latest results showcase significant gold intersections, including 1.06 grams per tonne (g/t) over 163.1 meters. The company has an indicated resource of 3.06 million ounces and an inferred resource of 0.31 million ounces. A resource update is scheduled for Q2 2023, alongside planned geotechnical drilling and a pre-feasibility study set for H2 2023. The drilling program aims to define higher-grade mineralization areas and explore potential underground resources.
Mayfair Gold Corp. (MFGCF) has announced significant progress at its Fenn-Gib gold project, doubling the strike length of the Footwall Zone to approximately 400 meters. The current drilling results indicate steep-dipping mineralization extending beyond 500 meters depth. Notably, drill hole FG23-300 detected 2.05 grams/tonne (g/t) gold over 16.2 meters, including 3.72 g/t over 6.2 meters. The project, which includes a NI 43-101 resource estimate of 3.06 million ounces indicated and 0.31 million ounces inferred, remains open in all directions, with two drill rigs currently operational.
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