Goldflare Expands the Goldfields Zone

Rhea-AI Summary

Goldflare Exploration (TYPFF) has completed a 4-hole drilling program totaling 1,452 meters at its Goldfields property, located near IAMGOLD's Fayolle open-pit mine. The program revealed significant gold mineralization, including new gold-bearing intrusions over 40 meters. Key intersections include 0.34 g/t Au over 9.4m in hole AIG-25-29, while previous 2023 results showed 1.3 g/t over 22.8m and a high-grade interval of 113 g/t over 1m. The drilling program, designed with 50m spacing between holes and targeting depths of 100-250m, has expanded the Goldfields zone both laterally and at depth. The mineralization system shows similarities to the Porcupine-Destor gold systems, with the company's refined geological model suggesting potential for an economic deposit.

Positive

• Discovery of new gold-bearing intrusions over 40 meters, expanding the mineralization zone
• Previous high-grade intersections of 113 g/t over 1m and 1.3 g/t over 22.8m demonstrate significant gold potential
• Strategic location near IAMGOLD's Fayolle open-pit mine with existing infrastructure access
• Geological model confirms system's growth potential both laterally and at depth

Negative

• Recent drilling results show relatively low-grade mineralization (0.34 g/t Au over 9.4m)
• Economic viability still needs to be proven despite geological potential
• Two drill holes (AIG-25-27 and AIG-25-30) returned no significant results

HIGHLIGHTS

• Drill program completed: 4 holes totalling 1 452 meters, collared 700 metres west of the Fayolle deposit

• Top 2023 intersections:

  • 1.3 g/t over 22.8m in hole AIG-32-26

  • High grade interval of 113 g/t over 1m in hole AIG-23-13

• 2025 discovery: New gold bearing intrusions over 40 metres, similar to known Porcupine-Destor gold systems

• Lateral and depth expansion: 39 m of fractured/mineralized intrusion grading 0.34 g/t Au over 9.4 m (hole AIG-25-29)

PIEDMONT, QC / ACCESS Newswire / June 9, 2025 / Goldflare Exploration inc. (TSXV:GOFL) (« Goldflare » or « the Society ») is pleased to announce new results on the Goldfields property, having completed a 4 holes drill program for 1452 metres.

The Goldfields mineralization is now open along strike with the interception over close to 40 metres, starting at 242.8m, a fractured and mineralized intrusion. A series of strongly anomalous grades were encountered including 0.34 g/t gold over 9.4m (see details below).

Since 2020, Goldflare integrates drilling data and geophysical surveys to generate a reliable exploration model. Gold results obtained so over a 100 metres strike length confirmed the gold potential of such structures. It includes 1.3 g/t gold over 22.8 metres including an enriched interval of 5.8 g/t gold over 2.4 m in hole AIG-23-26 starting at 125.35m depth. Also, a high grade of 113 g/t over 1m was obtained in hole AIG-23-13 along the same structure (see press release May 31^st, 2023).

President and CEO Michel Desjardins said: "Unlocking our refined geological model confirms that the Goldfields gold system can grow both laterally and at depth. Fresh hits from holes AIG-25-28 and AIG-25-29 prove the system's continuity and sharpen our conviction that an economic deposit is within reach."

2025 Drill Program

Objectives & Methodology

The 2025 drill program was designed to enlarge the Goldfields footprint by spacing holes 50 m apart and initially targeting vertical depths of 100-250 m.

The interpreted geometry follows a northeast-trending litho-structural contact dipping 65° toward the northwest.

Four holes were drilled toward the east-southeast, cutting the full ~300 m package of altered and deformed sediments, ultramafic volcanics, alkaline intrusions, and basalts.

2025 Drill Plan

The step-out program collared four holes, each at least 50 m from prior drilling, with metreage allocated as follows:

• AIG-25-27: Targeted the southern down dip extension of the Goldfields zone

• AIG-25-28: Planned to cover deeper to the east potential parallel zone approaching the Fayolle deposit.

• AIG-25-29: Targeted the north-east extension following the plunging of the mineralized lens about 100 metres north-east along strike of the known mineralization.

• AIG-25-30: Targets the direct down-dip extension of the Goldfields zone at 200 m vertical depth.

Geology

The gold bearing structure host a stacking of gold bearing trends, which some could lead to 5 to 20 meters lenses at grade ranging generally from 1.3 to 3 grams per tonne (see Goldflare press release of February 6^th, 2024).

Holes AIG-25-29 and AIG-25-30 intersected a thick package of variably altered and fractured alkaline intrusions (syenite and lamprophyre) making about 100 metres in true thickness at a vertical depth at a vertical depth of about 250 metres. The new mineralized section in this intrusive system shows an opening to the north-east.

Hole AIG-25-29 gave a series of strongly anomalous mineralized intervals associated with strong fracturing, alteration in feldspar, pyritization and secondary magnetization of intrusions.

Results are the following:

• 0.36 g/t over 9.4 metres starting at 242.8m

• 0.29 g/t over 3 meters starting at 271.9m and

• 0.37 g/t over 3.2 metres starting at 279 metres

These intersections, coupled with the newly identified intrusion, confirm the Goldfields gold system's potential to expand both laterally and at depth.

DDH_No	From:	To:	Length	Au_g/t
AIG-25-22-27		NS
AIG-25-28	94	96,5	2,5	0,61
	102,6	107	4,4	0,2
AIG-25-29	56,5	58,5	2	0,35
	242,8	252,2	9,4	0,34
	271,9	274,9	3	0,29
	279	282,9	3,9	0,37
AIG-25-30		NS

Exploration model

The Goldfields property sits just a short distance from IAMGOLD's Fayolle open-pit mine completed in 2024, benefiting from the same road access and infrastructure. Goldflare is targeting gold-bearing structures that are geologically analogous to Fayolle, pursuing a model of stacked, interconnected zones that could tie the Fayolle deposit directly into Goldfields.

QAQC

Drill positions were recorded by a handheld Garmin GPS. A Reflex EZ-TRAC instrument was used to route boreholes. Examination, description and sampling are carried out on the property. The samples were delivered to Laboratoire Expert Inc. in Rouyn-Noranda.

Rocks were analysed by standard fire assay with lead collection on 30 gr sub-samples. Gold results were measured with atomic absorption spectrometry finish (AAS). Results above 3 g/t gold are re-assayed with a gravimetric finish.

Blank samples, certified standards, preparation duplicates are inserted into the sampling.

The technical information contained in this press release has been reviewed by Martin Demers, P.Geo. (OGQ No. 770), independent consultant for Goldflare Exploration and Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

For additional information:
Sara Pedneault ing.
Chairman of the Board
Spedneault@goldflare.ca

SOURCE: Goldflare Exploration Inc.

View the original press release on ACCESS Newswire

FAQ

What are the latest drilling results from Goldflare's Goldfields property?

The latest drilling program revealed new gold-bearing intrusions with intersections including 0.34 g/t Au over 9.4m in hole AIG-25-29, while previous 2023 results showed 1.3 g/t over 22.8m and 113 g/t over 1m.

How many holes were drilled in Goldflare's 2025 drilling program at Goldfields?

Goldflare completed 4 holes totaling 1,452 meters in their 2025 drilling program at the Goldfields property.

What is the location of Goldflare's Goldfields property relative to other mines?

The Goldfields property is located near IAMGOLD's Fayolle open-pit mine, benefiting from the same road access and infrastructure.

What is the geological model for Goldflare's Goldfields property?

The property follows a northeast-trending litho-structural contact dipping 65° northwest, with stacked, interconnected zones that could potentially connect to the Fayolle deposit.

What were the objectives of TYPFF's 2025 drill program?

The program aimed to enlarge the Goldfields footprint by spacing holes 50m apart and targeting vertical depths of 100-250m, focusing on expanding the mineralization zone laterally and at depth.