Typhoon Exploration Inc. (TSX VENTURE:TYP) announces today that a 50,000 metre drill program has begun on its 100%-owned Fayolle Project, with the addition of a third drill rig.
"With a 50,000 metre drill program underway on the Fayolle Project and a third drill rig on site, we plan to aggressively explore and expand the potential of the current resource with strategic exploration targets" said David Mc Donald, President and CEO of Typhoon Exploration Inc. "The drill program will focus on several lithogeochemical and airborne geophysical targets to expand the mineralized footprint on the Fayolle Project".
Previous drill results confirmed the geological model and the consistency of the gold grades established by the Aurizon-Typhoon tandem and led to the discovery of several new mineralized lenses. Using the data from this model, several potential mineralized zones have been identified as drill targets for the upcoming exploration program which could represent new resources.
The new intersections identified a mineralization model with multiple stacked sub-vertical high-grade lenses striking NNW, hosted inside an important deformation corridor trending E-W. These lenses are stacked with a general 45° east-dipping rake.
The new geological model has identified repetition of mineralized lenses westward and upward from the main Fayolle Deposit hosted in a 2.5 km long corridor.
The drill pattern of 25 to 50 metre spacing suggests the continuity and geometry of the mineralization within the host rock.
In 2010, the first phase of the drill program included 15,000 metres of drilling and a budget of $3 million dollars. The positive results of this first phase confirmed the continuation of the project with a second phase of drilling.
The second phase of the drill program has begun in 2011 and includes 50,000 metres of drilling and a budget of $6.5 million dollars invested by Aurizon Mines Ltd.
This phase will focus on the lateral and depth extensions of the Deposit and will test the 2.5 km-long main deformation corridor which is oriented NW-SE.
The presence of additional auriferous anomalies at depth could indicate the presence of a previously-unknown mineralized zone located west of the Fayolle Deposit, which also confirms the geological model inside the deformation corridor.
Source: Typhoon Exploration Inc.