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LAVAL, CANADA–(Marketwired – July 12, 2017) – Typhoon Exploration Inc. (TSX VENTURE:TYP) has finalized his compilation and interpretation works on the Monexco property (100% interest), located about 30 kilometres North-East from the town of Chibougamau, inside the North Plan Territory.
The Monexco property is composed of 42 claims corresponding to an area of 2,324 hectares located on the France Corridor, a regional gold target previously publicized by the “Ministère de l’Énergie et des Ressources Naturelle” of Québec in 2003 (source: DV-2003-08).
The Company plans to release information from an exploration and sampling program done in the course of 2016. The evaluation of results was done together with a compilation of recent and historical works, and with a review of the geological context of the property.
2016 Exploration Program Update
- A total of 440 composite samples were collected from outcrops on the France River target. Previous sampling of existing trenches had delivered some high grade results reaching 125 grams of gold per tonne (see Typhoon press release of October 8th 2015).
- The France River target corresponds actually to an area making approximately 400 metres along strike and 400 metres across the structure, delineated by trenches and outcrops.
- The gold mineralization takes the form of quartz-tourmaline and quartz-carbonate veins networks following East-West and North-East orientations. Gold bearing structures are identified by strong iron carbonate alteration developed along quartzo-feldspathic dykes contacts.
- A first pass of glacial boulder sampling was done across the property to detect blind targets hidden under the overburden coverage. Hundred eighty-five (185) samples were collected in non-outcropping areas.
- The reprocessing of magnetometric and VLF surveys done in 2011 will be a key element for the generation of next exploration targets. These types of geophysical tools remain particularly suitable for interpreting geological contacts and structural elements related to the gold system in the Monexco property context.
Comparison with the Croteau East Project of Northern Superior Resources
(11.6 million tonnes at 1.7 g/t for 640,000oz) *
Northern Superior Resources and Chalice Gold Mines Ltd. found the Croteau East deposit located 20 kilometres West of the Monexco project, along the France River Corridor (see sketch appended).
The deposit hosts 640,000 ounces of gold from 11.6 million tonnes at a grade of 1.7 grams of gold per tonne. The resources calculation is based on 1 g/t cutoff grade **(see press release of January 14th, 2016). The Croteau East was found and defined by drilling between 2012 and 2015 down to a vertical depth of 300 metres. The mineralization system is identified along a kilometric strike length, and can be considered open at depth.
There are several geological similarities among the Croteau East deposit and Monexco gold showings. Exploration success obtained by Northern Superior using an aggressive drilling approach is a great source of inspiration for Typhoon for eventually following the same path on the Monexco property.
|Bruneau- Blondeau faulted contacts||X||X|
|Quartzo-feldspathic dykes partly hosting the mineralization||X||X|
|Iron carbonate rich alteration (ankerite, sericite, pyritization)||X||X|
|Gold mineralization shoots : N-E and E-W fractures intersections||X||X|
|Gold system lateral extension||400 metres open||1.1 km drilled|
|Vertical extension drilled||Not tested||350 metres depth, open|
Source of informations:
- nsuperior.com, website of Northern Superior Resources Inc.
- *, **, Chalice Gold Mines and Northern Superior Resources Inc. Technical Report on the Croteau East Project, Québec, Optiro, Sept.2015
A map is available at the following address: http://file.marketwire.com/release/0712_EN.jpg
Typhoon focuses on the top of the class mineral potential of Québec for exploring and developing the next generation of world class deposits. The unfailing support of our shareholders (detaining 36,177,791 outstanding shares) and business partners contribute to the success of the Company.
Typhoon common shares are listed on the TSX Ventures Exchange under the stock symbol TYP.
Information of technical nature which appears in this press release was revised by M. Martin Demers, P.Géo. (OGQ), Technical Advisor for Typhoon Exploration. M. Demers is a Qualified Person (QP) as defined by the National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
David Mc Donald
Wed, 12 Jul 2017 14:10:22 GMT