Cassiar Gold launches PEA at B.C. project
Cassiar Gold Corp. [GLDC-TSXV, CGLCF-OTCQX] said it has launched a preliminary economic assessment (PEA) at its 100%-owned Cassiar Gold project in northern British Columbia.
The company is targeting the completion of the PEA in the third quarter of 2026. It will be based on the recently updated foundational resource at the bulk-tonnage Taurus deposit, which consists of an indicated resource of 8.8 million tonnes at 1.43 g/t gold or 410,000 ounces, with an additional 63.2 million tonnes or 1.93 million ounces at 0.95 g/t in the inferred category. The company said 91% of ounces occur within 150 metres of surface.
The near-surface, road accessible deposit remains open for expansion, the company said in a press release.
Cassiar Gold shares moved lower in early trading Thursday, easing 5.4% or $0.03 to 52 cents. The shares currently trade in a 52-week range of 73 cents and 18 cents.
Cassiar is a British Columbia-focused exploration company. It holds a 100% interest in its flagship Cassiar gold project, which spans 590 square kilometres and consists of two main project areas known as Cassiar North and Cassiar South.
Cassiar North, which hosts the Taurus Deposit, will be the focus of the PEA.
Cassiar South hosts numerous gold showings, historical workings and exploration projects over a 15-kilometre long and up to 10-kilometre-wide trend. Historical underground mines in the Cassiar South area have yielded over 315,000 ounces of gold at grades of between 10 and 25 g/t gold, underscoring the high potential for further discovery of bonanza-grade orogenic gold veins.
The area is accessible via Highway 37, which bisects the property, and access roads throughout the property. The project has a 300 tonne-per-day mill for future operations and a permanent camp.
The company also holds a 100% interest in the Sheep Creek gold camp in Salmo, B.C. The Sheep Creek gold district ranks as the third largest past producing orogenic gold district in B.C, with historical production of 742,000 ounces of gold at an average grade of 14.7 g/t gold from 1900 to 1951. Minimal exploration work has been conducted since the 1950s, Cassiar said in a press release.
Meanwhile, in its latest press release, Cassiar said the PEA will evaluate potential development scenarios for the Cassiar project and assess the economic potential of the Taurus deposit. Additionally, the study will establish work plans to support the company in continuing to advance the project. “The study will be a critical milestone and will guide our next steps towards responsible development,’’ said Cassiar Gold President and CEO Marco Roque. A metallurgical assessment of the Taurus deposit is currently underway, with results expected in the second quarter of 2026 to support the PEA.