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Typhoon Confirms Interim Board and Acquires the "Syenite Condor" Property

·2 mins read

PIEDMONT, QC, Sept. 17, 2020 /CNW Telbec/ - Typhoon Exploration Inc. (TSX-V: TYP) ("Typhoon" or "the Company") is happy to announce that, at its Annual General Meeting ("AGM") held September 9th, its shareholders confirmed all members of its Interim Board of Directors. After the AGM, the directors decided their respective roles:

The Syenite Condor Property (CNW Group/Typhoon Exploration Inc.)
The Syenite Condor Property (CNW Group/Typhoon Exploration Inc.)

Ghislain Morin:


CEO

Serge Roy:


Chairman of the Board

Yves Dufour:


Director

André Gauthier:


Director

The Company is also proud to announce that it acquired the "Syenite Condor" Property, subject to TSX approval. The Property is located in the Clericy Township, at about 30 km north-east of the town of Rouyn-Noranda, Québec. The 623 ha property is now owned 100% by Typhoon. It was acquired through a buying agreement in exchange for 1,500,000 shares of the Company and $10,000 at the signature of the agreement.

The Syenite Condor Property was the object of numerous exploration programs over the last decades in relation with the presence of a syenite intrusive body. Axe Exploration (defunct) lead its exploration in a series of low ground valley interpreted at that time as structural lineaments. An initial prospection program done in 2017 produced the discovery of the Unique 1 gold surface showing with 5 samples from outcrops returning values of 5.28 g/t, 3.11 g/t, 2.31 g/t, 2.74 g/t and 0.65 g/t. The mineralization takes the form of disseminated pyrite1. About 1.3 km east of the Unique 1 showing, an isolated and partially buried block of metric size returned 0.8 g/t in a similar host rock.

The Syenite-Condor Property is located inside the Destor-Porcupine Break, a region that extends from Timmins (Ontario) to Destor (Québec), 500 km eastward. It is evaluated that the whole Abitibi has produced 170 million ounces since 19012. The Property's location corresponds to the eastward termination of the Porcupine Break, in an area characterized by an array of regional faults known to host gold occurrences. About 30 km west of the Property, the Beattie Mines produced 1.2 M oz of gold from an underground mine between 1943 and 19503.

"We thank all our shareholders for their confidence. We will work very hard to increase the value of the Company, in particular through strategic acquisitions and the exploration work we plan to do," concludes Ghislain Morin, CEO.

The technical information presented in this Press Release was revised by Martin Demers, P.Geo. (ogq #770), consultant for Typhoon Exploration and Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

1 https://finance.yahoo.com/news/axe-completes-works-unique-project-141500535.html
2 https://en.wikipedia.org/wiki/Abitibi_gold_belt
3 Technical Report and Prefeasibility Study for the Duparquet Project prepared for Clifton Star Resources by InnovExplo Inc., March 2014.

SOURCE Typhoon Exploration Inc.

Cision
Cision

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