Typhoon Has Begun Its Drilling Campaign of 15,000 Meters at Fayolle
Thursday, August 12th 2010
Typhoon Exploration Inc. announces that since July 8, 2010 it has begun its drilling campaign of 15,000 meters on the Fayolle Project, as part of its agreement with Aurizon Mines Limited. To date 5 drill holes have been completed.
The drilling activity began in the area of the Fayolle Deposit with the objective to confirm the geologic model defined during the geoscientific compilation conducted in 2009.
The company is very optimistic for the future of the Fayolle Project. The metallogenic context of the Fayolle project is favourable to the existence of porphyry-type gold mineralization. The mineralized zones on the Fayolle Deposit are distributed along a major shear corridor of approximately 2.5 km long by 1 km wide, all while remaining open at depth. The property contains inferred mineral resources totaling 113,000 ounces of gold, which have been delineated to date down to 100 meters at a grade of 1.6 grams of gold per tonne using a cutoff grade of 0.5 grams per tonne (Reference: “Mineral Resources Evaluation of the Fayolle Gold Deposit / 43-101 Technical Report” dated February 21, 2007, available on SEDAR). Higher gold grade intervals in the range of 10 to 40 grams per tonne have been encountered over 3 to 30 meters during previous drilling. It is to be noted that the Fayolle project is in a great geographical position being located in the heart of Abitibi’s well established mining projects and infrastructures.
The common shares of Typhoon Exploration are listed on the TSX Venture Exchange under the symbol “TYP”.