Cassiar Gold drills 32.95 g/t gold over 2.16 metres at Cassiar project, British Columbia

Cassiar Gold Corp. [GLDC-TSXV; CGLCF-OTCQX] reported assay results from an additional seven diamond drill holes from the 2022 exploration program completed at the Bain vein target in the Cassiar South project area, within the company’s flagship Cassiar gold property, northern British Columbia.

The results reported here are part of continuing efforts to further explore for extensions of, and for new parallel veins associated with, the high-grade, historically producing mines at Cassiar South.

During the 2022 program, Cassiar Gold conducted over 23,000 metres of diamond drilling from 70 drill holes. Exploration was concentrated on strategic areas of the Taurus deposit in the northern parts of the property, key vein prospects at Cassiar South, including Bain vein target areas, and other brownfield targets. Results from 22 drill holes, which cumulatively total 7,845 metres of drilling from the 2022 program, are yet to be disclosed as the company continues to await the return of additional assay results.

Highlights from the Bain vein target area: Drill holes reported in this news release are from seven holes totalling 2,380 metres from the East Bain extension and West Bain areas of the past-producing Bain vein system. This drilling was designed to test for lateral and down-dip extensions of known mineralization, and potential parallel vein sets at the East Bain extension and West Bain areas, as well as identify potential offset segments of the past-producing vein system at East Bain extension:

Drill hole 22EBX-103 intersected multiple mineralized intercepts at the East Bain extension which include 14.6 metres of 2.21 g/t gold, from 159.5 metres downhole, including four metres of 5.05 g/t gold, identifying a potential offset continuation of the past-producing Bain vein system 90 metres from previous drilling; 2.16 metres of 32.95 g/t gold from 361.9 metres downhole, including 0.55 metres of 123.50 g/t gold proximal to the Bain vein, and potentially representing a new parallel vein.

All holes drilled intersected gold-bearing quartz veins containing anomalous to high-grade gold in the East Bain extension and West Bain target areas.

Mineralization encountered at East Bain extension occurs within an unmined mineralized trend 540 m in strike length below and eastward from existing underground development. Mineralization in this area remains open along strike to the east and down dip.

“We are excited to have expanded gold mineralization at the Bain vein system again in 2022 with these most recent results,” stated Marco Roque, CEO. “This past-producing vein system lies within a permitted mine area with extensions of known mineralization occurring near existing underground infrastructure. Continued success at this part of the property in future exploration campaigns may contribute to identifying low-cost and near-term development opportunities.”

The Cassiar South project area of the Cassiar gold property hosts numerous shear vein targets and several past-producing underground mines, including the Bain, Cusac, Vollaug and Main mines, which have historically produced over 315,000 ounces of gold grading between 10 g/t and 20 g/t gold. The past-producing high-grade Vollaug vein is known to have a strike length of up to 3 km.

The central Bain vein system historically produced 24,000 ounces of gold at an average grade of 13.71 g/t gold from 1993 to 19952.

Mineralization encountered at East Bain Extension occurs within an unmined mineralized trend greater than 540 metres in strike length below and eastward from existing underground development. The Bain system holds potential for continued lateral expansion of mineralization as well as extension of mineralization at depth.

The Cassiar Gold 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.