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. has announced encouraging results from its 2022-23 metallurgical test program on the Fenn-Gib deposit. Achieving a 96% Au recovery through sulfide flotation and 91.2% Au recovery via Flotation-Regrind-Cyanidation, these tests mark significant progress. The company has completed approximately 112,000m of its planned 140,000m drill program, with further resource updates expected in Q2 2023. The Fenn-Gib deposit holds an indicated resource of 3.06M gold ounces. A pre-feasibility study is set to commence soon, focusing on gold recovery processing concepts. These advancements position Mayfair positively for future exploration and development in the Timmins region.
Mayfair Gold Corp. (MFGCF) has announced the initiation of a 30,000m Phase 4 drilling program at its 100% controlled Fenn-Gib gold project in Ontario. This follows approximately 109,000m of drilling completed in 2022, which identified gold mineralization in every hole. The program aims to enhance resource continuity and depth extension of higher-grade mineralization. Advanced metallurgical testing continues, showing promising recovery rates of 94% for flotation. Additionally, a pre-feasibility study is set to commence in Q1 2023, with a resource update expected in Q2 2023. The company remains committed to achieving carbon neutrality for Fenn-Gib.
Mayfair Gold announced the closing of the second tranche of its non-brokered private placement, raising $3,450,000 for its exploration program at the Fenn-Gib gold project in Ontario. The total raised from both tranches is $8,430,000. The company issued 3,000,000 shares at $1.15 per share, subject to a hold period until May 11, 2023. CEO Patrick Evans expressed satisfaction with the support for the financing, which will facilitate resource delineation and metallurgical studies for the project.
Mayfair Gold Corp. has successfully closed the first tranche of its private placement financing, raising $4,980,000 through the issuance of 3,000,000 flow-through shares at $1.66 each. This offering was executed at a 32% premium over the previous closing price on November 28, 2022. The funds will support the company's exploration efforts at the Fenn-Gib gold project in Ontario. A second tranche is expected to close around January 6, 2023.
Mayfair Gold Corp. has completed 105,500 meters of its 110,000-meter infill and expansion drill program at the Fenn-Gib Project. This project, located in Northeast Ontario, holds a NI 43-101 resource of 3.06 million ounces in the indicated category. A resource update is scheduled for Q2 2023, along with a pre-feasibility study. Highlighted drill results show significant gold intercepts, including 1.85 g/t Au over 130.5 meters. Additionally, the company has granted stock options for an aggregate of 2,330,000 shares at an exercise price of $1.29.
Mayfair Gold Corp. (MFGCF) announced its eighth set of drill results for 2022 from the Fenn-Gib Project, revealing significant gold mineralization. Highlights include 1.10 g/t Au over 366.7m in hole FG22-253 and 1.53 g/t Au over 133.7m in hole FG22-267. The ongoing infill and expansion drill program has completed 104,000m of its 110,000m target. A resource update is expected by Q2 2023, along with a pre-feasibility study within the year. The company has upsized its non-brokered private placement to 3 million shares at $1.15, raising $3.45 million.
Mayfair Gold Corp. has announced a non-brokered private placement financing of up to 2.6 million common shares at $1.15 each, aiming for gross proceeds of up to $3 million. Additionally, a flow-through private placement of up to 3 million shares at $1.66 each is expected, raising up to $5 million. Proceeds will finance exploration and engineering studies at the Fenn-Gib gold project in Ontario. The share offerings are subject to customary closing conditions and will not be registered in the U.S.
Mayfair Gold Corp. announced positive drill results from its Fenn-Gib Project, confirming significant gold mineralization. Highlights include drill hole FG22-259, which showed 1.11 g/t Au over 145.2m, with a higher grade of 3.17 g/t Au over 40.3m. The company's drill program has completed over 101,000m of the planned 110,000m, expecting a resource update in Q2 2023 and a pre-feasibility study by Q4 2023. The project has a total Indicated Resource of 3.06 million ounces of gold, reinforcing its potential as an exceptional deposit in Ontario's mining sector.
Mayfair Gold Corp. announced an updated mineral resource estimate for its Fenn-Gib Gold Project, with a significant increase in gold resources. The Indicated resource rose by 47% to 3.06 million ounces, while the Inferred resource increased by 315% to 0.31 million ounces. The company is currently executing a 110,000-meter drill program, with 61% completed as of July 31, 2022. Mayfair's efforts suggest continued resource expansion potential, with estimates reflecting a low incremental drilling cost of C$6.00 per ounce. Another update is anticipated in Q2 2023.
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