The Typhoon Inc. - Aurizon Tandem Returned Values of 31,8 g/t Au at Fayolle
11.04.2012 | Marketwire
LAVAL, QUEBEC -- (Marketwire - April 11, 2012) - Typhoon Exploration Inc. - (TSX VENTURE: TYP) announces a new series of results under a drilling program currently underway on its 100%-owned Fayolle Deposit, in which Aurizon Mines Ltd. may acquire a 65% interest, subject to a 2% royalty, by conducting $25 million dollars` worth of exploration work and a $2 million dollar private placement, for a total of $27 million dollars.The results obtained recently in the area, including 15.5 g/t Au over 3 meters in the FA12-88 and 10.2 g/t Au over 5.0 meters including 31.8 g/t Au over 1.0 meters and 12.1 g/t Au over 3 meters in the FA-12-87, come from a program verification of immediate extensions of the Fayolle Deposit.
FAYOLLE DEPOSIT - TABLE OF BEST DRILLING RESULTS
From To Mineralized Gold
DDH # (m) (m) Length (m) (g/t)
FA-11-78 233.0 236.0 3.0 13.0
including: 235.0 236.0 1.0 29.2
FA-11-84AB 66.0 67.0 1.0 1.2
FA-11-85 132.0 147.0 15.0 0.2
FA-11-85 267.0 268.0 1.0 4.6
FA-12-87 15.0 20.0 5.0 10.2
including: 17.0 18.0 1.0 31,8
and: 31.0 34.0 3.0 12.1
FA-12-87 62.0 63.0 1.0 3.7
FA-12-88 140.0 142.0 2.0 1.0
FA-12-88 183.0 186.0 3.0 15.5
FA-12-90 183.0 206.0 23.0 0.3
including: 187.0 196.0 9.0 0.5
FA-12-92 200.0 212.0 12.0 0.1
FA-12-92 255.0 263.0 8.0 0.2
*The results from FA-11-80, 83, 86 and FA-12-91AB returned no significant values.
The mineralized intervals represent between 75 and 100% of the true thickness.
Several assay results are still pending.
GEOLOGICAL INTERPRETATION
In the months of February and March, drilling activities were mainly localized on the Mc Donald Showing, located around 400 meters east of the Fayolle Deposit. The objective is to verify if the gold mineralization in both areas can be connected. The drilling has continued to test the extensions of the Fayolle Deposit and fill some lack of information within the mineralized structure in order to complete an initial resource calculation under the partnership. The resource calculation should be available in 2012.
QUALITY CONTROL
All drill cores are oriented using CorientR tool in order to measure their geological structures. Deviation testing is performed with a FLEXIT device. Cores are sawn in half, with one part being kept as a control and the other part being analyzed. Analyses are performed by standard fire assay with atomic absorption finish. Certified reference materials, field duplicates and blanks are inserted into the sample sequence for quality control purposes. Primary assaying is performed by ALS Minerals Laboratory in Val-d'Or.
ABOUT TYPHOON EXPLORATION INC.
The Company holds 19,918,157 shares outstanding, carries no debt, maintains a strong financial position, is awaiting a new resource calculation on the Fayolle Deposit and owns the following projects:
- Fayolle Project,100%-owned by Typhoon Exploration Inc.
(See agreement with Aurizon Mines Ltd. in press release dated May 18, 2010)
- Faille 1 Project, 100%-owned by Typhoon Exploration Inc.
- Monexco Project, 100%-owned by Typhoon Exploration Inc.
- Aiguebelle-Goldfields Project, 51%-owned by Typhoon and 49%-owned by Agnico-Eagle Mines Limited
- Destorbelle Project, 50%-owned by Typhoon and 50%-owned by Diamond Frank Exploration Inc.
Visit our company website at http://www.typhoonexploration.com
QUALIFIED PERSON
Mr. Robert Gagnon, P. Geo. (OGQ) of Typhoon Exploration Inc., 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".
Forward-Looking Statements
This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Typhoon. Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Typhoon will derive therefrom. Forward-looking information is based on the estimates and opinions of Typhoon at the time the information is released and Typhoon does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither 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.
Contact Information
David Mc Donald, President and CEO
450.622.4066
Toll free: 1.877.622.4004
450.622.4337 (FAX)
info@typhoonexploration.com
www.typhoonexploration.com