TYPHOON EXPLORATION INC. ("Typhoon") announces that mapping, sampling and various structural measurements are currently underway on stripping #1, #2 and VG of its Monexco Property.
Located NE of Chibougamau, in the heart of the Plan Nord territory, this property has returned several significant results, associated with quartz-carbonate-tourmaline veins and veinlets most often hosted in quartz-feldspar porphyry dykes (QFP).
- In 2007,at the eastern extremity of the #1 stripped outcrop area, the bulk sample carried a grade of 125g/ t gold or 3.07 oz / ton gold (see press release dated June 12, 2007).In addition, the channel sampling of the VG gold zone had reported coarse and angular fragments of native gold with a grade of 40.0 g/t Au over 1.0 metre. Other sampled areas returned values of 12.49 g/t Au over 1.0 metre and 8.47 g/t Au over 1.0 m. (see press release dated March 11, 2008)
- In 2008, a prospecting and mapping campaign had revealed the possibility of extending the gold corridor with several significant gold values in selected samples. The best analysis were 29.9 g/t, 13.8 g/t, 12.1 g/t, 38.2 g/t and 32.7 g/t, of gold. (see press release dated December 3, 2008)
- In 2011, a drilling campaign was completed on the main showing and VG showing and the results obtained in the area had indicated that the gold-bearing mineralization was concentrated almost exclusively in and around the quartz veins. The best sample for the entire campaign returned a value 4.55 g/t Au over 1 m in drill hole MO-11-05. (see press release dated March 27, 2012)
ABOUT TYPHOON EXPLORATION INC.
- Typhoon Exploration Inc. has a cash position of $3,579,654, representing $0.12 per share.
- Typhoon Exploration Inc. only has 29,656,791 shares outstanding.
THE COMPANY OWNS THE FOLLOWING PROJECTS:
- Fayolle Project, 100%-owned by Typhoon Exploration Inc. / Rouyn-Noranda region (See agreement with Aurizon Mines Ltd. in press release dated May 18, 2010)
- Faille 1 Project, 100%-owned by Typhoon Exploration Inc. / Rouyn-Noranda region
- Monexco Project, 100%-owned by Typhoon Exploration Inc. / Chibougamau region
- Nordair Project, 100%-owned by Typhoon Exploration Inc. / James Bay region
- Aiguebelle-Goldfields Project, 51%-owned by Typhoon and 49%-owned by Agnico-Eagle Mines Limited / Rouyn-Noranda region
- Destorbelle Project, 50%-owned by Typhoon and 50%-owned by Axe Exploration Inc. / Rouyn-Noranda region
QUALIFIED PERSON
Mr. Daniel Gaudreault, P. Eng., Geol. (OIQ), of Géologica Groupe-Conseil, is the Qualified Person as defined by National Instrument 43-101, to supervise the preparation of this press release.
Source: http://www.explorationtyphon.com/