Mayfair Gold to Acquire Three Ontario Properties for C$2.5m with Historic 47g/t Gold Hits
Mayfair Gold will pay C$2.5m to acquire three Plato Gold properties—Guibord (50% of 275ha), Marriott (2,728ha) and Holloway (156ha)—adjacent to its Fenn-Gib Project in the Porcupine-Destor Fault Zone. Historic drilling returned gold grades up to 47.01g/t, and payment will be staged pending lease transfer approvals.
1. Transaction Overview
Mayfair Gold has signed a definitive agreement to acquire three properties from Plato Gold for C$2.5m in cash. The purchase price will be held in escrow and released in stages upon ministerial consent for mining lease transfers, with 50% paid after the Marriott Property transfer and the remainder tied to Holloway and Guibord transfers.
2. Property and Geological Highlights
The Guibord property spans 275ha with Mayfair taking a 50% interest, the 2,728ha Marriott property transfers in full, and Holloway covers 156ha. All lie within hauling distance of Fenn-Gib and have historical drill results, including up to 47.01g/t over 0.91m and 13.7g/t over 1.22m.
3. Strategic Rationale
This acquisition expands Mayfair’s land holdings adjacent to Fenn-Gib by over 65%, enhancing access to the Porcupine-Destor Fault Zone. The properties offer critical infrastructure corridors and new high-potential exploration targets to support the proposed Fenn-Gib mine permitting and development process.