Typhoon Exploration Obtains 1.49 Ounces of Gold (51 g/t) on the Monexco Property
November 24, 2015
LAVAL, QUEBEC--(Marketwired - Nov 24, 2015) - Typhoon Exploration Inc. (TSX VENTURE:TYP) («Typhoon») is pleased to announce the results of the 2015 fall exploration campaign on its Monexco Property (100%-owned by Typhoon), located in Chibougamau on the Plan Nord territory.
During fall of 2015, grab and channel samples were collected during prospecting work completed on the Monexco Property. A total of 174 samples were collected in the north, west and east part of the property where little work had yet been carried out. Also, 12 channel samples were collected in the former stripping sector including the Monexco Showing.
The majority of samples were taken in shear zones, in intrusive rocks, in altered volcanics mineralized with pyrite and in quartz-calcite, quartz-calcite-chlorite and quartz-calcite-tourmaline veins and veinlets of different trends (E-W, N-S and NW-SE).
The channel samples were mainly collected in quartz-calcite-tourmaline-pyrite veins and veinlets setting, of the N040-N060° sheared and/or fractured structures which intersects the France River`s shear corridor oriented east-west. This N040-N060° structural system was identified on former stripping sites as the most gold-rich of the property.
Since 2013, structural mapping work was undertaken on the property as well as regionally by a Master student (Christine Vézina) with the joint venture of the "Ministère des Ressources Naturelles du Québec (MRNQ)" and "Université du Québec à Montréal (UQAM)".
Several grab samples and all the channel samples were collected in these structural zones of preferential orientation N040-N060° and the results were very significant as presented in the table below, where the values greater than 10 ppm correspond to these structures.
The future of the Monexco Project seems promising based on the results of the recent reconnaissance work which confirmed its potential for gold. Typhoon would like to thank the joint initiative of the MRNQ and the UQAM, for it allows a better understanding of the immediate area of the property and a proper orientation for exploration in the search for a significant gold deposit.
Several significant gold values were obtained during the recent campaign and are listed in the table below.
|N171576||4.74||0.7||120||47||Channel sample (1 m)|
|N171577||3.73||0.6||71||56||Channel sample (1 m)|
|N171580||13.15||2.7||106||72||Channel sample (1 m)|
|N171581||2.21||0.7||69||73||Channel sample (1 m)|
|N171585||3.39||0.9||24||5||Channel sample (1 m)|
ABOUT TYPHOON EXPLORATION INC.
- Typhoon Exploration Inc. only has 32,506,791 shares outstanding.
- Association on the Fayolle Project (Abitibi, Rouyn-Noranda): Hecla Quebec Inc. owns 50%/Typhoon owns 50%
- Association on the Aiguebelle-Goldfields Project (Abitibi, Rouyn-Noranda): Agnico-Eagle Mines Limited owns 49%/Typhoon owns 51%
- Monexco Project (Chibougamau, Plan Nord territory): 100%-owned by Typhoon
Mr. Daniel Gaudreault, ing., (OIQ), of Géologica Groupe-Conseil Inc., is the Qualified Person as defined by
NI 43-101, to supervise the preparation of the technical aspect of this press release.
The common shares of Typhoon Exploration Inc. are listed on the TSX Venture Exchange under the symbol "TYP".
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.