Cassiar Gold Corp. [GLDC-TSXV; CGLCF-OTCQX] reported assay results from an additional six diamond drill holes of the 2022 exploration program completed at the Taurus deposit, located in the Cassiar North area of the company’s flagship Cassiar gold property in northern British Columbia, Canada.
The company’s 2022 program included 70 drill holes and over 23,000 metres of diamond drilling that commenced in June and recently concluded in October. The exploration focus of the drilling targeted high priority areas at the Taurus Deposit, significant vein prospects at Cassiar South and additional brownfields opportunities on the property. Cassiar Gold continues to focus on advancing exploration of the project through deposit expansion, optimization, and the potential for new discovery.
The Taurus Deposit hosts a substantial near-surface, bulk-tonnage inferred gold resource of 1.4 million ounces grading 1.14 g/t gold which remains open in all directions. Results from a total of 19,102 metres of drilling (57 drill holes) from the 2022 program remain pending and will be disclosed in subsequent news releases.
The results reported are from drill holes designed to test for the potential extension of known mineralization through step-out drilling, confirm historical results, and infill areas of previous widely spaced drilling in the Taurus Deposit to evaluate the potential for continuity of mineralization between resource blocks.
Highlights: All drill holes reported in this release intersected multi-metre intercepts of gold mineralization above the 0.5 g/t gold cutoff grade of the 2022 inferred mineral resource at Taurus, confirming historical results and demonstrating expansion potential of mineralization both outside of and within the inferred mineral resource open pit shell and Taurus resource grade shell model.
Drill hole 22TA-158 at Taurus West intersected 72.3 metres of 1.09 g/t gold from 337.0 metres downhole, extending mineralization 50m beyond the extent of the inferred mineral resource open pit shell.
Drill hole 22TA-152 at Taurus Central intersected multiple intervals of gold mineralization, including 20.2 metres of 1.33 g/t gold from 157.4 metres downhole outside the current resource grade shell, including 0.45 metres of 25.90 g/t gold as well as 29.1 metres of 1.17 g/t gold from 279.7 metres downhole expanding deeper areas of mineralization outside of the inferred mineral resource pit shell.
Taurus Central drill hole 22TA-149 intersected 36.8 metres of 1.30 g/t gold from 8.2 metres downhole, including 5.3 metres of 4.09 g/t gold, confirming near-surface mineralization encountered in historical drill holes.
“Drilling at the Taurus Deposit continues to increase the confidence within the bulk tonnage resource and highlights the internal growth and expansion potential of mineralization by demonstrating similar grades and apparent thickness as drill holes used in the 2022 Taurus Deposit resource estimate,” stated Marco Roque, CEO of Cassiar Gold. “With our largest drilling program to date at the flagship project now complete, the Company is well positioned for project updates as results are being returned through year-end and into the new year.”
Six drill holes totaling 2,262 metres are reported and include lateral and down-plunge step-outs, as well as infill holes to test areas of widely spaced drilling in the Taurus Deposit where continuity between resource blocks could not previously be established. Drill holes were designed to test for east-west trending sheeted vein sets and associated bulk-tonnage style mineralization, as well as north-northwest trending, east-dipping disseminated mineralization at depth along the Taurus West Fault.
Additionally, the program has continued to advance resource confidence in areas of historical drilling and collect additional structural data to enhance the existing geological model. The deposit remains open in all lateral directions as well as at depth.
Cassiar Gold has a 100% interest in the Cassiar gold property that covers 590 km2 and consists of two main project areas: Cassiar North, which hosts a NI 43-101-compliant inferred resource estimate of 1.4M oz at 1.14 g/t gold (cutoff grade of 0.5 g/t gold) known as the as the Taurus Deposit 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 gold at average head grades of between 10 and 20 g/t gold, underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.
The company also holds a 100% interest in the Sheep Creek gold camp located near Salmo, BC. The Sheep Creek gold district ranks as the third largest past-producing orogenic gold district in BC with historical gold production of 742,000 ounces gold averaging 14.7 g/t gold from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.