TYPHOON EXPLORATION INC. ("Typhoon") and Joint Venture Partner Hecla Quebec Inc. began Field Exploration Program in July, on the Fayolle Project. A combination of different exploration works will permit the next drilling programs on new prioritized surface targets showing similar characteristics as the Fayolle Deposit.
TRENCHING ON THE FAYOLLE DEPOSIT
Trenching on the subcroping area of the Fayolle Deposit will enhance geological and geometrical comprehension of the near surface, high-grade mineralization present at Fayolle. The new trench should provide visual access to a mineralized zone defined in the latest resource model. Mapping and systematic channel-sampling will provide unrivalled information on Fayolle's high-grade mineralization consistency and confirm its orientation.
PROSPECTION AT THE PROPERTY SCALE
An 80 km ground magnetometer survey will extend the 2004 ground survey towards the east in order to identify other magnetic patterns similar to the ones already known to characterize the Fayolle and McDonald mineralization. The identification of new outcrop areas showing favourable magnetic signatures will support a subsequent prospection program.
TRENCHING ON THE PARÉ TREND
Trenching is planned on the Paré Trend, located 500 m south of the Fayolle Deposit. The Paré Trend returned a drillhole intersection of 1.3 g/t Au over 36 meters. No outcrops featuring the geology of the Paré Trend are known. Mapping and channel-sampling will follow.
OUTLOOK
The realization of the surface exploration efforts will provide critical basic information and drill targets leading to increase the property resources basis.
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 Fayolle Property offers the potential to host important gold resources.
OUTLOOK
- A Mineral Resource Estimate was completed in 2012 for the Fayolle Deposit and its resources transferred from the inferred category to the indicated category. (see press release dated September 6th, 2012)
- A Preliminary Metallurgical Study of the gold recovery rate was completed in 2012 on the Fayolle Deposit and indicated an average gold recovery rate of more than 94%. (see press release dated October 30th, 2012)
- A Positive Preliminary Economic Assessment Study (PEA) was completed on the Fayolle Deposit in 2013.
(see press release dated April 9th, 2013)
For more information, visit the company's website at www.typhoonexploration.com or SEDAR's website at www.sedar.com.
THE COMPANY OWNS THE FOLLOWING PROJECTS:
- Fayolle Project, 100%-owned by Typhoon Exploration Inc. / Rouyn-Noranda region (See agreement with Hecla Quebec Inc. 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.
The common shares of Typhoon Exploration Inc. are listed on the TSX Venture Exchange under the symbol "TYP".
Source: http://www.explorationtyphon.com/