LAVAL, CANADA -- (Marketwired) -- 08/12/13 -- TYPHOON EXPLORATION INC. ("Typhoon") (TSX VENTURE: TYP) announces that mapping, sampling and various structural measurements are currently underway on stripping #1, #2 and VG of its Monexco Property.
Located NE of Chibougamau, in the heart of the Plan Nord territory, this property has returned several significant results, associated with quartz-carbonate-tourmaline veins and veinlets most often hosted in quartz-feldspar porphyry dykes (QFP).
-- In 2007,at the eastern extremity of the #1 stripped outcrop area, the bulk sample carried a grade of 125g/ t gold or 3.07 oz / ton gold (see press release dated June 12, 2007).In addition, the channel sampling of the VG gold zone had reported coarse and angular fragments of native gold with a grade of 40.0 g/t Au over 1.0 metre. Other sampled areas returned values of 12.49 g/t Au over 1.0 metre and 8.47 g/t Au over 1.0 m. (see press release dated March 11, 2008)-- In 2008, a prospecting and mapping campaign had revealed the possibility of extending the gold corridor with several significant gold values in selected samples. The best analysis were 29.9 g/t, 13.8 g/t, 12.1 g/t, 38.2 g/t and 32.7 g/t, of gold. (see press release dated December 3, 2008)-- In 2011, a drilling campaign was completed on the main showing and VG showing and the results obtained in the area had indicated that the gold-bearing mineralization was concentrated almost exclusively in and around the quartz veins. The best sample for the entire campaign returned a value 4.55 g/t Au over 1 m in drill hole MO-11-05. (see press release dated March 27, 2012)
ABOUT TYPHOON EXPLORATION INC.
-- Typhoon Exploration Inc. has a cash position of $3,579,654, representing $0.12 per share.-- Typhoon Exploration Inc. only has 29,656,791 shares outstanding.
THE COMPANY OWNS THE FOLLOWING PROJECTS:
-- Fayolle Project, 100%-owned by Typhoon Exploration Inc. / Rouyn-Noranda region (See agreement with Aurizon Mines Ltd. 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
Mr. Daniel Gaudreault, P. Eng., Geol. (OIQ), of Geologica 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".
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/0812TYPHOON_EN.pdf
David Mc Donald
President and CEO
450.622.4066 or Toll free: 1.877.622.4004