Typhoon Exploration Inc. Update on the Aiguebelle-Goldfields Project
PIEDMONT, March 16, 2021 - Typhoon Exploration Inc. (TSXV: TYP) ("Typhoon" or "the Company") sets things up to resume drilling on the Aiguebelle-Goldfields property, located about 35 km north-east of Rouyn-Noranda, Abitibi (Québec). Typhoon controls the exploration ground called Aiguebelle-Goldfields, which is eastern bounded with IAMgold Corporation's Fayolle project. The property's boundary is approximately 250 metres away from the Fayolle zone. And historical high-grade drill results on Aiguebelle-Goldfields (such as 3.1 grams per tonne (gpt) over 10.2 metres in hole 83-01 and 4.4 gpt over 4 metres in hole 85-151) are located approximately 600 metres west of the Fayolle zone.
Drilling equipment was mobilized on site to test the eastern extension of the Aiguebelle-Goldfields gold trend, going toward the Fayolle deposit. The target will be covered in the next few weeks using 50-meter-spaced holes collared from three permitted drill sites.
To date, 1,928 metres were drilled in 7 holes (see Typhoon's December 22, 2020, press release). The targeted area for this first phase was located 400 to 700 metres farther to the south from the actual planning.
Syenite Condor
During 2020, Typhoon has extended its influence in this part of the Abitibi Belt (corresponding to the eastern extension of the Porcupine-Destor Fault), mainly with the acquisition of the Syenite Condor claims block covering 653 ha where previous owners have identified gold-bearing glacial boulders composed of intrusive rocks.
Three trenches totalling about 200 metres were performed to intercept the eastern contact zone of the Clericy syenite.
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A magnetic survey by drone covering 5.5 km2 was executed to help interpreting structural details and elements of the geological map at the scale of the intrusion. Two orthogonal flight paths were used at 40-metre spacing. Results of interpretation will help to plan the next exploration phases.
"The Company is at a crossroads, with many samples at the labs and ongoing data analysis programs. Positive results on the Syenite Condor program would open new perspectives on a large target accessible at surface. On the Aiguebelle-Goldfields side, systematic drilling should eventually lead to discoveries," says Ghislain Morin, Typhoon's CEO.
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.
Contact
Ghislain Morin, CEO, 819-354-9439, ghislainmorin@explorationtyphon.com; Serge Roy, Chairman of the Board, 819-856-8435, sergeroy@explorationtyphon.com
