Mayfair Gold Corp. Announces Promising Early‑Stage Results from Fenn‑Gib Grade Control Drilling

The Vancouver‑based exploration and mining services company, listed on the TSX Venture Exchange under the ticker MFG, unveiled the first set of data from its 2025 Grade Control Drilling Program at the Fenn‑Gib Project in Northern Ontario. The program, a tight‑spaced, vertical drilling effort, has already yielded results that strengthen the company’s confidence in the orebody’s high‑grade potential and bolster the preliminary Project Feasibility Study (PFS) assumptions for the early years of production.

Program Overview

  • Scope: 56 diamond drill holes, totaling roughly 4,200 m of drilling, spaced in a 10 m × 10 m grid to a target depth of 75 m.
  • Target Volume: Approximately 1 million tonnes of material expected to constitute the initial plant feed once the Phase 1 starter pit is constructed.
  • Completion: The drilling was finished within the core of the Phase 1 starter pit, aligning directly with the project’s feed strategy.

The tight spacing is designed to simulate the grade control methodology that will be applied during the mine’s early life, providing the data necessary to refine orebody delineation and support the financial case for project financing. As stated by CEO Nick Campbell, “These initial results increase our confidence in the highest‑grade, early years of the Fenn‑Gib mine. While preliminary, they indicate potential for positive grade reconciliation, support the PFS early‑year assumptions, and are providing important data to advance project financing.” Remaining assays are slated for release in Q1 2026.

Market Context and Investor Reaction

Mayfair Gold’s share price closed at $5.20 CAD on February 11, 2026, a modest increase from the $5.04 CAD level reported earlier that day. The stock has traded between $3.00 CAD (52‑week low) and $6.65 CAD (52‑week high), reflecting the market’s cautious optimism amid ongoing gold price volatility. The company’s market capitalization currently stands at $367.39 million CAD, underscoring the significant valuation that investors place on a company with a clear, disciplined exploration strategy.

The announcement comes against a backdrop of a strong gold market, with prices recently surpassing the $5,000 USD per ounce threshold. Analysts note that a resilient gold price, coupled with a weakening USD, supports a favorable environment for projects like Fenn‑Gib, which could benefit from higher commodity prices and potentially lower financing costs if interest rates remain stable.

Implications for the Fenn‑Gib Project

  • Grade Reconciliation: The early data suggest that the orebody’s high‑grade zones are more extensive than initially projected, offering the potential for cost‑effective mine design and higher early‑year revenues.
  • Financing Prospects: Positive grade data is a critical lever in attracting capital. By demonstrating that the early‑year orebody meets or exceeds PFS assumptions, Mayfair Gold strengthens its position with both debt and equity investors.
  • Operational Planning: The 10 m × 10 m drilling grid provides a detailed dataset that can inform the layout of the initial pit, the sequencing of open‑pit cuts, and the design of the early feed system.

Strategic Outlook

Mayfair Gold’s disciplined approach to grade control drilling exemplifies a risk‑mitigation strategy that is increasingly demanded by the investment community. By focusing on early, high‑density data acquisition, the company is not only validating its geological model but also constructing a compelling narrative for project developers, financiers, and shareholders alike.

With the next set of assays expected in the first quarter of 2026, stakeholders will be watching closely for confirmation of the projected grade levels and the subsequent impact on the project’s net present value. Should the data continue to meet expectations, Mayfair Gold could accelerate its transition from exploration to production, positioning itself as a key player in Canada’s gold mining landscape.