Cassiar Gold drills 89.6 g/t gold over 0.7 metres at Cassiar, British Columbia
Cassiar Gold Corp. [TSXV-GLDC; OTCQX-CGLCF] reported assay results from an additional 10 diamond drill holes from the 2023 exploration program. The results reported are from the Taurus deposit and outlying Wings Canyon target located in the Cassiar North area of the company’s flagship Cassiar gold property in northern British Columbia.
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 most directions and has been a priority for further expansion during the 2023 exploration campaign.
Results from the eastern portion of the Taurus deposit confirm the potential for expansion of known mineralization well outside the current resource footprint, while results from Wings Canyon highlight additional targeting opportunities along prospective structural corridors in outlying areas. Results remain pending for 29 drill holes, totalling 10,788 metres, from the 2023 program.
Highlights: The latest drilling results reported in this news release are from 10 holes totalling 2,587 metres from the Taurus East and Wings Canyon areas at Cassiar North. Drill hole 23TA-195 intersected 27.7 metres of 1.18 g/t gold from 152.1 metres downhole, including 5.8 metres of 2.61 g/t gold, expanding mineralization 65 metres beyond the current mineralization model along the Decline fault at Taurus East.
Drill hole 23TA-192 at Taurus East intersected 0.7 mietres of 89.60 g/t gold from 45 metres downhole, representing a 60-metre extension of a higher-grade intercept encountered during the 2022 drill program; 6.3 metres of 1.73 g/t gold from 118.5 metres downhole, expanding mineralization along the Decline fault, 50-metres down dip of 2022 drill holes and 430 metres south of the Taurus East mineralization model.
All drill holes at Wings Canyon intersected gold mineralization above the 0.5 g/t gold cut-off grade of the 2022 inferred mineral resource at Taurus, including drill hole 23WC-207 which returned 29.3 metres of 0.52 g/t gold from 5.9 metres downhole.
“We are pleased to report continued success as we work to further demonstrate the persistence of mineralization along established trends at outlying target areas, well beyond the footprint of the Taurus resource,” stated Marco Roque, CEO. “Our 2023 drill program at our flagship project is now complete and the company is well positioned to provide project updates as new results are returned.”
The Taurus Deposit hosts a significant near-surface, bulk-tonnage, and pit-constrained inferred gold resource, 90% of the resource occurs within 150 metres of surface, and mineralization remains open in most directions. Two mineralization styles comprise the Taurus Deposit collectively forming broad mineralized zones: east-west trending sheeted vein sets and minor shear zones with pyritic alteration halos, and disseminated pyrite mineralization along the north- northwest trending and east-dipping Taurus West Fault.
The Wings Canyon target area is located 500 metres southeast of the Taurus resource within a geologic setting that includes extensive quartz vein development and hydrothermal alteration, with limited drilling. Early-stage drill testing at outlying targets such as Wings Canyon supports the ongoing evaluation of potential opportunities to expand the company’s resource base at Cassiar North.
Drilling at Taurus East and Wings Canyon encountered geology that demonstrates similar styles of veining, alteration, and sulphide mineralization to the Taurus resource area. These drill holes continue to reinforce the potential influence of a larger mineralizing system than currently established at Cassiar North and highlight potential along trend and proximal to prospective structural corridors.
In the Taurus East area, drilling was designed to test broader potential for expansion of mineralization along east-west trends typically associated with sheeted vein sets internal to the Taurus resource and at the past-producing Taurus Mine.
Drill holes 23TA-193 and 23TA-196 (south oriented), were designed to test along strike for extensions of mineralization associated with the historical Taurus Mine trend (23TA-193) as well as follow up on near- surface intercepts encountered in 2022 while testing for potential parallel vein sets to the south (23TA- 196).
Wings Canyon is an area of intense iron-carbonate altered mafic volcanic rocks that lies approximately 500 metres southeast of, and is similar in character to the Taurus Deposit.
Mineralization remains open on both the west and east sides of Wings Canyon, including between Wings Canyon and the Taurus deposit, 500 metres northwest, as well as along strike toward the Snow Creek prospect which lies several kilometers to east-northeast. These areas remain targets for future exploration work.
Cassiar Gold holds a 100% interest in its flagship Cassiar Gold Property. The Cassiar Gold property spans 590 km2 and consists of two main project areas.