LAVAL, QUEBEC--(Marketwired - Oct. 29, 2013) - TYPHOON EXPLORATION INC. ("Typhoon") (TSX VENTURE:TYP:) and its Joint Venture partner Hecla Quebec Inc. began in July an exploration program on the Fayolle Project, consisting of a combination of different exploration works.
TRENCHING ON THE FAYOLLE DEPOSIT
Trenching on the sub-outcropping area of the Fayolle Deposit has allowed us to observe visible gold in two different locations. The new trench has given visual access to a mineralized zone defined in the latest resource model.
TRENCHING ON THE PARÉ TREND
A trench has been completed at more than 5 km East of the Fayolle Deposit and should be analyzed shortly.
OUTLOOK
The realization of these surface exploration efforts will provide the necessary information for the next drilling campaign, in order to increase the property resources basis.
ABOUT TYPHOON EXPLORATION INC.
- Typhoon Exploration Inc. only has 29,656,791 shares outstanding.
- The Fayolle Property offers the potential to host important gold resources.
- Typhoon Exploration Inc. is in an excellent financial position and carries no debts.
For more information, visit the company's website at www.typhoonexploration.com or SEDAR's website at www.sedar.com.
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)
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, ing., Geo. (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".
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.
A map is available at the following address: http://media3.marketwire.com/docs/1029TYP_EN.pdf
