Mayfair Gold Corp. announced the successful completion of the geotechnical and hydrogeology field campaigns in support of the planned Fenn-Gib pre-feasibility study. Mayfair's 100% controlled Fenn-Gib Project, located in the Timmins region of Northeast Ontario, hosts a NI 43-101 open-pit constrained Indicated mineral resource estimate of 3.38 million ounces (Moz) gold (Au) at a grade of 0.93 grams per tonne (g/t) Au, and an Inferred mineral resource of 0.16Moz Au at 0.85 g/t Au.

The near-surface Fenn-Gib gold mineralization is broadly disseminated striking east-west on the Pipestone Fault over more than 1.5 kilometers (km) and is over 500 meters (m) wide at the west end. Mayfair Gold is also pleased to report that resource drilling on the higher-grade Footwall Zone, located approximately 100m to the north of the Fenn-Gib deposit, continues to make encouraging progress. The program is supported by two drill rigs.

Based on results to date, Mayfair expects to report a maiden underground Footwall Zone resource in early 2024. In anticipation of that, a downhole televiewer survey has been completed on three Footwall Zone drill holes to support modeling of a potential crown pillar. The Fenn-Gib gold deposit is Mayfair's asset and currently hosts an updated NI 43-101 resource estimate with an effective date of April 6. 2023 of a total Indicated Resource of 113.69M tonnes containing 3.38M ounces at a grade of 0.85 g/t gold at a 0.40 g/t Au cut-off grade.

The Fenn-GIB deposit has a strike length of over 1.5km with widths ranging over 500m. The gold mineralized zones remain open at depth and along strike to the east and west. Recently completed metallurgical tests confirm that the Fen-Gib deposit can deliver robust gold recoveries of up to 94%.