NEW DRILLING CAMPAIGN ON AIGUEBELLE-GOLDFIELDS
NEW
DRILLING
CAMPAIGN ON
AIGUEBELLE-GOLDFIELDS
Piedmont
(Quebec), September
2, 2020
-- InvestorsHub NewsWire –
Typhoon Exploration Inc.
(TSX-V: 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.
For more
information:
Typhoon Exploration (TSXV:TYP)
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