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VANCOUVER, British Columbia, May 05, 2021 (GLOBE NEWSWIRE) — Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG) is pleased to announce the appointment of Douglas Cater to the Board of Directors.
Mr. Cater is a professional geologist who has worked extensively across Canada and internationally for more than 35 years, with a particular focus on the Timmins gold camp. He has held positions with both senior and intermediate gold producers, including Barrick, Placer Dome and Kinross. His most recent executive position was Vice President, Exploration (Canada) with Kirkland Lake Gold Ltd. Mr. Cater is also a director of Sierra Metals Inc. and Harte Gold Corp. and a Technical Adviser to Prosper Gold Corp.
In welcoming Mr. Cater, Mayfair President and CEO Patrick Evans noted: “Doug’s exceptional experience as a gold geologist and his strong governance experience add to the strength of Mayfair’s diverse Board. His guidance and support will be enormously valuable as we continue to develop our flagship Fenn-Gib gold project.”
Mr. Cater commented: “I’m very pleased to join the Mayfair Gold team. Fenn-Gib is a project I’ve followed for many years, and I look forward to having the opportunity to support Mayfair’s management as they continue advancing exploration at this very prospective asset in the Timmins gold camp. I’m particularly excited about the regional exploration potential at Fenn-Gib beyond the current resource. Fenn-Gib’s South Block on the prolific Destor-Porcupine fault is essentially unexplored and particularly promising.”
Mayfair Gold also announced the granting of 200,000 incentive stock options under the Company’s stock option plan. The options are exercisable at a price of $1.75 per share up to May 3, 2031.
Mayfair is a Canadian mineral exploration company focused on advancing the 100% owned Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair’s flagship asset. An updated open-pit constrained NI 43-101 resource estimate (February 5, 2021) reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit has a strike length of approx. 1.25km with widths ranging up to 300m. The gold mineralized zones remain open at depth and along strike to the east and west.
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Qualified Person Statement
Mayfair Gold’s disclosure of technical and scientific information in this news release has been reviewed and approved by Howard Bird, P Geo., Vice President Exploration for the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements“) that relate to Mayfair’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Mayfair’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors. Mayfair undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Mayfair to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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