PIEDMONT, QC, Oct. 28, 2020 /CNW Telbec/ - Typhoon Exploration Inc. (TSX-V: TYP) ("Typhoon" or "the Company") received an intervention permit to prepare drill emplacements and accesses on the Aiguebelle-Goldfields claims block, located about 35 km northeast of Rouyn-Noranda, Abitibi (Québec). This start-up of field works is the result of the completion of all the required consultation steps in the area, and the securing of a right of access with IAMgold Corporation for the duration of the program.
In parallel, the Company has reached an agreement with a local landowner to run a stripping program on the recently acquired Syenite Condor claims block located about 2,5 km westward of Aiguebelle-Goldfields.
Aiguebelle-Goldfields
Typhoon controls the exploration ground called Aiguebelle-Goldfields, eastern bounded with IAMgold Corporation's Fayolle project. The property's boundary is approximately 250 metres away from the Fayolle zone. Historical drill results on Aiguebelle-Goldfields, such as 3,1 g/t over 10.2 m in hole 83–01 and 4.4 g over 4 m in hole 85–15*, are located approximately 600 metres west of the Fayolle zone. The drill plan is firstly to test the possibility to find additional mineralization inside this gap which follows the same geological trend. The drill pattern will cover three sub-parallel gold-bearing structures previously identified by historical drilling.
The drill program totals around 3,000 metres, distributed in 12 holes, and should spread over a two-month period.
Syenite Condor
The gold potential of the recently acquired Syenite Condor claims block will be tested by trenching. This property is located between two and four kilometres westward from the Aiguebelle-Goldfield Property and is centred on a major syenite intrusion that has never been the object of systematic exploration works, including drilling. Recent field observations of altered and pyritized syenite floating blocks in the overburden in proximity of a geophysics lineament sparked the interest for additional tests and investigation.
A mechanical shovel is mobilized to clean to bedrock 50-metre-long trenches for channel sampling, over an area extending for about 500 metres along a strong magnetic contrast. Depending on the results, drill tests could be considered further afield.
"It took a lot of hard work and patience to build our collection of promising mining claims, but we're very proud of the result. We've done our homework and we've worked very hard to build strong relationships with all stakeholders, with whom we have respectful and efficient communications. We are now ready to launch a significant new exploration program on our Aiguebelle-Goldfields and Syenite Condor Properties. This program marks an important milestone for us, and the whole team is very enthusiastic" explains Ghislain Morin, CEO, Typhoon Exploration.
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.
SOURCE Typhoon Exploration Inc.
Ghislain Morin, CEO, 819-354-9439, [email protected]; Serge Roy, Chairman of the Board, 819-856-8435, [email protected]
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