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Mayfair Gold Corp. acquires, explores, evaluates, and develops mineral properties. It holds 100% interests in the Fenn-Gib gold project with 21 fee simple patented properties, 153 patented leasehold mining claims, and 144 unpatented mining claims covering an area of approximately 4,800 hectares located in the Guibord, Munro, Michaud, and McCool Townships in northeast Ontario, Canada. The company was incorporated in 2019 and is based in Matheson, Canada.
Mayfair Gold reported final positive results from its grade control drilling program at the Fenn-Gib Project, validating the reserve model for approximately 1 million tonnes of Phase 1 probable reserves.
The program identified 28% more tonnes at 7% higher grade for material above 3.0 g/t Au, indicating potential to bring forward higher-grade production and improve early cash flows.
The Fenn-Gib Project hosts a 4.3 million ounce indicated resource and a 1 million ounce probable reserve, with a PFS outlining a C$450 million initial capital cost and a 2.7-year payback period.