Typhoon hits gold at Fayolle (June 01, 2004)

Typhoon Exploration (TOO-V) has intersected significant gold while drilling its Fayolle property, 35 km northeast of Rouyn-Noranda, Que.The property consists of 79 claims, though drilling focused on a 400-metre section of the Fayolle showing.Results from eight holes have been reported. All lengths reported are calculated true widths. Highlights include:

• 9.64 grams gold per tonne over 3 metres, including a 0.7-metre intercept grading 40.77 grams gold;
• 12.95 grams gold over 5.3 metres, including 1.4 metres of 42.34 grams;
• 3.74 grams gold over 11.4 metres, including 6.3 metres of 6.37 grams; and
• 3.56 grams gold over 5.6 metres, including 0.67 metre of 16 grams.

The infill program was aimed at expanding the gold resource and extending gold mineralization along strike. High gold grades are in, or near, hematized and pyritized granodiorite and/or albite dykes intersecting mafic volcanic rock. The northwest-trending Destor-Porcupine fault transects the property.

In August 2000, McWatters Mining (MWA-T)estimated that the Fayolle showing had an indicated resource of 221,206 tonnes grading 6.86 grams gold per tonne (as indicated by drill holes), plus an inferred 578,000 tonnes grading 5.93 grams gold. In September 2003, the indicated resource was downgraded to the inferred category, based on standards set by National Instrument 43-101.

Core was split in half and samples were sent to Expert Laboratoires in Rouyn-Noranda; check assays were completed by ALS-Chemex (Chimitec) in Val-d’Or.

In April, Typhoon bought out McWatters’ 30% interest in the Fayolle property to become its sole owner.