TDG Gold eyes resource estimate at Shasta
TDG Gold Corp. [TDG-TSXV] on Monday released results from four diamond drill holes completed on the Creek and JM Zones at its 100%-owned former Shasta gold-silver project in the Toodoggone District in north central British Columbia.
Drilling highlights include 14.2 metres of 3.10 g/t gold and 37 g/t silver {3.55 g/t gold equivalent AuEq} from 127.3 metres to 141.5 metres west of the Creek Zone.
The four holes presented in Monday’s release are a combination of infill holes to validate historical gold and silver grades. These will contribute to a NI-43-101 mineral resource targeted for the second quarter of 2022, the company said in a press release.
Back in December, 2020, TDG acquired the Toodogonne asset portfolio of Talisker Resources Ltd. [TSX-TSK, TSKFF-OTCQB], including the former producing high grade gold-silver Baker and Shasta Mines.
The mines are accessible by road 430 kilometres northwest of Prince George, via Mackenzie and the Omineca Resource access route past Centerra Gold Inc.s’ [CG-TSX, CAGDF-OTC]  Kemess copper-gold mine.
The Baker-Shasta property covers just over 6,000 hectares and includes the former high-grade gold-silver Baker Mine and Shasta Mine, which operated intermittently from the 1980s until 2012 when a lack of funding caused operations to cease.
Historic compilation work of drill and other geological data highlights grades along a 750-metre strike length of the Creek and Shasta Zones. Exploration and subsequent production was focused on the Creek Pit and then a series of underground workings which ceases in 2012.
The current understanding of the data suggests that mineralization remains open to the south and north, and that historic production was not exhaustive, leaving potential ore zones and its halo in the ground.
In total, 12 mineralized zones have been identified from exploration and TDG’s data compilation has identified over 28,750 metres of historic drilling.
TDG Gold launched drilling in 2021 with the aim of delivering a new resource estimate this year.
On Monday, TDG shares were largely unchanged, easing 1.01% or $0.005 to 49 cents. The shares currently trade in a 52-week range of 75 cents and 38 cents.
TDG was in the news recently when it announced the signing of a binding definitive agreement with ASX-listed Kingsgate Consolidated Ltd. for the acquisition of the advanced stage Nueva Esperanza project, which is located in the Maricunga Belt of the Atacama Region of northern Chile.
The Nueva Esperanza project is located in the northern half of the Maricunga Belt, 140 kilometres northeast of the city of Copiapo, the regional mining centre. It is situated at an elevation of between 4,000 and 4,200 metres and encompasses three mining area, Arqueros, Chimberos and Teterita, with permits for development. The project also comes with associated water rights.