Cassiar Gold drills 0.90 g/t gold over 95.3 metres at Newcoast Regional Prospect, Cassiar Gold Project, British Columbia
Cassiar Gold Corp. [TSXV-GLDC; OTCQX-CGLCF)] reported results from an additional eight diamond drill holes totaling 2,812 metres from the 2023 exploration program at the Cassiar Gold Project, located in northern British Columbia. These results from new regional drilling highlight the additional targets on the property outside of the main deposits and have identified new gold-bearing vein sets.
The Cassiar Gold Property hosts several regional prospects with potential to host Taurus-style mineralization in outlying areas to the Taurus bulk-tonnage Inferred gold resource of 1.4 million ounces grading 1.14 g/t gold. Separate to the results reported here, results remain pending for six drill holes totaling 1,666 metres of drilling from the 2023 program at the Taurus West target area.
Highlights: Results reported here are from the Newcoast prospect, located 2.5 km southeast of the Taurus deposit, and the Lucky area, located at higher elevation 4 km northwest of the Taurus deposit.
All drill holes at the Newcoast prospect encountered multi-metre intercepts of mineralization above 0.5 g/t Au and successfully expanded a broad, sparsely drill-tested mineralized zone at this target. Results include 136.8 m of 0.71 g/t Au from 222.6 m downhole, including 95.3 m of 0.90 g/t Au, which contains internal intercepts of 6.9 m of 1.22 g/t Au, 16.0 m of 1.39 g/t Au, and 8.4 m of 1.35 g/t Au in drill hole 23NC-004; 67.8 m of 0.60 g/t Au from 179.4 m downhole, including 1.1 m of 7.86 g/t Au and 0.8 m of 7.07 g/t Au in drill hole 23NC-005.
Drilling at the Lucky prospect encountered the continuation of a gold-bearing quartz vein identified at surface during the 2023 field season.
“We are pleased to see that results of our initial regional program reinforce our targeting concepts across the property.” stated Marco Roque, CEO. “Our additional early-stage targets and potential for new discovery in the under-explored Cassiar district provides notable upside to our existing resource base.”
Northwest mineralized trend: Drill holes 23NC-004, 23NC-005, 23NC-003, and 23NC-001 (northeast oriented) aimed to identify an extension of a broad mineralized intercept encountered in 2005 in hole 05SV-07 along a previously unrecognized interpreted northwest trending shear structure, where prior historical drill holes had been oriented to test for east-west trending mineralized features at more shallow depth extents.
Drill holes 23NC-004 and 23NC-005 were designed to test 50 metres northwest and 150 metres southwest, respectively, and at greater depths than mineralization encountered in historical drilling. Results include 23NC-004 with 136.8 m of 0.71 g/t Au from 222.6 m downhole, including 95.3 m of 0.90 g/t Au, which contains internal intercepts of 6.9 m of 1.22 g/t Au, 16.0 m of 1.39 g/t Au, and 8.4 m of 1.35 g/t Au.
Hole 23NC-005 intersected multiple mineralized intervals, returning 67.8 m of 0.60 g/t Au from 179.4 m downhole, including 1.1 m of 7.86 g/t Au, and 0.8 m of 7.07 g/t Au, and 17.1 m of 0.50 g/t Au from 263.1 m downhole.
Drill holes 23NC-003 and 23NC-001 encountered multi-metre intercepts of gold mineralization above 0.5 g/t Au, which is the cut-off grade for the Taurus Inferred Mineral Resource Estimate, including 14.8 m of 0.82 g/t Au in 23NC-003.
East-west mineralized trends: Drill holes 23NC-002 and 23NC-006 were designed to test for the potential extensions of east-west trending mineralized quartz veins and alteration encountered in historical drilling and trench mapping, respectively.
Results from this series of holes collectively confirm the potential for broad intervals of mineralization with strong similarities to the Taurus deposit to occur within the same valley, reinforcing the interpreted significance of northwest and east-west structural influence on the distribution of mineralization in the Cassiar North area.
The Lucky prospect occurs along the northern extent of the 15-km northwest trend of deposits and prospects identified on the property to-date, sitting 4 km northwest of the Taurus deposit and 1 km higher in elevation above the valley that hosts the resource.
Two drill holes totaling 640 m in cumulative length, were drilled at the Lucky target area and were designed to test for potential lateral and downdip extension of an outcropping sulphide-mineralized quartz vein, as well as evaluate the potential for additional parallel vein sets at depth.
Cassiar Gold has a 100% interest in its flagship Cassiar Gold Property. The property spans 590 km2 and consists of two main project areas: Cassiar North, which hosts a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au (cutoff grade of 0.5 g/t Au) known as the as the Taurus Deposit and Cassiar South which hosts numerous gold showings, historical workings, and exploration prospects. Historical underground mines in the Cassiar South area have yielded over 315,000 oz of Au at average head grades of between 10 and 20 g/t Au, underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.