Thesis Gold drills 1.27 g/t gold over 49.83 metres at Ranch project, British Columbia

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Thesis Gold Inc. [TAU-TSXV] reported drilling results from the Thesis II zone, including the discovery of a new mineralized system, from the company’s inaugural 2021 drill program at its 100%-owned 17,832-hectare Ranch gold project, approximately 300 km north of Smithers in the Golden Horseshoe region of north-central British Columbia, Canada.

In the Discovery zone, drill highlights included the newly discovered south zone that was intersected in three 2021 drill holes. Hole 21TH2DD009 returned 49.83 metres of 1.27 g/t gold, including 8.07 metres of 4.22 g/t gold. Hole 21TH2DD008 returned 26.20 metres of 1.42 g/t gold, including 5 metres of 3.73 g/t gold. Hole 21TH2DD003 returned 20.36 metres of 1.60 g/t gold, including 3.50 metres of 6.50 g/t gold. Additional results from Thesis II area drilling are available in the table on the company’s website.

As defined by current drilling, the new zone is situated approximately 40 metres southwest from the main zone at Thesis II, has a strike length greater than 50 metres, has been intersected up to 100 vertical metres from surface, is in excess of 20 metres wide and remains open in all directions.

The company completed eight drill holes testing historical mineralization and conceptual targets proximal to the Thesis II occurrence in 2021. Drill results have confirmed high-grade mineralization at Thesis II and encountered a new mineralized zone southwest of historical drilling.

The newly discovered southern zone appears to be a sub-vertical, structurally controlled system that parallels existing mineralization at Thesis II. The southern zone remains open in all directions and will be targeted during the continuing spring drilling program. The Thesis technical team continues to investigate the robust data sets collected in 2021 to generate new and prospective exploration targets for drilling during 2022.

Ewan Webster, president and CEO, commented: “This second recent discovery within the Thesis structural corridor demonstrates the opportunity that exists to make additional discoveries within this fertile area and continue expanding on known zones of mineralization. Our ongoing drill campaign is currently following up on these discoveries and we look forward to sharing those results as they become available.”

The company is currently executing a spring drilling campaign focused within the greater than 1.5-km strike length Thesis structural corridor, including follow-up drilling on both the western zone discovery at Thesis III and the southern zone discovery at Thesis II. The program will consist of up to 10,000 metres of drilling intended to expand on the newly discovered zones and test additional exploration targets. The company believes there is significant opportunity to make additional discoveries within the Thesis structural corridor and elsewhere within the Ranch project area, given the initial successes in expanding known mineralization and delineating new gold-bearing zones during the maiden drill program completed during the 2021 field season.

An additional 12 exploration holes targeting conceptual geophysical targets were drilled during 2021 with no significant results returned.


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