Mayfair Gold Corp (OTCMKTS:MFGCF) Stock Continues to Trade in a Narrow Range

Mayfair Gold Corp (OTCMKTS:MFGCF) is moving in a range after the company offered a review of its first year of operations at its 100% owned Fenn-Gib gold project located in the Timmins area, Ontario, and also outlined 2022 plans. Mayfair Gold purchased Fenn-Gib the last year on December 31, 2020.

Market Stats

On Tuesday, MFGCF stock ended flat at $0.72 with more than 4.5k shares, compared to its average volume of 1.4K shares. The stock has moved within a range of $0.7200 – 0.7200 after opening trading at $0.7243.

Mayfair Gold 2021 Review and Plans for 2022

Presently, the gold project has an Indicated Resource of 70.2 million tonnes containing 2.08 million ounces of gold (“Au”) at a grade of 0.921 grams per tonne.Mayfair’s goal with the present 80,000 m infill and extension drill campaign is to increase the Fenn-Gib reserve to +3M ounces.

CEO and PresidentPatrick Evans stated that in 2020 they acquired Kirkland Lake’s Matheson, Ontario exploration officer located almost 20km to the west of Fenn-GIB. Evans added that with a full team of specialists and geologists on board at the time of closing, the company managed to getright to work, with the maiden drill rig rotating in only three weeks. The company had four drill rigs turning by the middle of 2021. So, MFGCF is worth watching.

Key Quote

Mayfair’s President and CEO Patrick Evans noted: “In late 2020, we purchased Kirkland Lake’s exploration office in Matheson, Ontario, located approx. 20 kilometers west of Fenn-Gib. With a full crew of geologists and technicians on staff at closing, we hit the ground running with the first drill rig turning within three weeks. By mid-2021, we had four drill rigs turning and made excellent progress throughout the year.”