Thesis Gold Inc. [TAU-TSXV; THSGF-OTCQX; A2QQ0Y-WKN] provided an update on recent assay results from the 2022 summer drill program from the Bonanza-Ridge zone at the 100%-owned Ranch gold project, located in the Golden Horseshoe region, 300 km north of Smithers, north-central British Columbia, Canada.
Highlights include Bonanza hole 22BNZDD008 that returned 91 metres core length of 1.81 g/t gold and 8.41 g/t silver, or 1.92 g/t AuEq (gold equivalent), including 35 metres of 2.93 g/t gold and 10.36 g/t silver, or 3.06 g/t AuEq.
Ridge hole 22RDGDD004 returned 19.25 metres core length of 1.85 g/t gold and 58.21 g/t silver, or 2.58 g/t AuEq, including 12 metres of 2.93 g/t gold and 65.46 g/t silver, or 3.75 g/t AuEq.
These positive assay results demonstrate broad intervals of significant mineralization that in many cases begin at or near surface.
Expanding mineralization along both northwest and northeast faults: Drill holes 22BNZDD005 and 009 tested a new northwest-oriented fault zone and intersected significant mineralization including 18.38 metres of 1.62 g/t gold and 4.76 g/t silver, or 1.68 g/t AuEq.
Linear magnetic lows are typically associated with fault structures that are often mineralized, and in many cases, the more intense lows are associated with broader zones of higher-grade mineralization, for example 22BNZDD008.
Many of these magnetic lows have yet to be drill tested, demonstrating significant discovery potential outside of the known mineralized zones.
Early assay results from the 2022 drill program continue to deliver strong results, significantly expanding historical gold zones and further demonstrating the connectivity and scalability of the mineralized domains within an interconnected fault network at the Ranch project.
Broadly continuous mineralization over significant strike extents rather than isolated mineralized zones indicates the larger resource potential of the Ranch gold project.
Ewan Webster, President, and CEO commented, “The success of the step-out drilling program at Bonanza and Ridge continues to demonstrate expanding zones of broad shallow mineralization along strike. In addition, as we test new parallel structures, we continue to discover widespread mineralization. Collectively, this demonstrates the ability of dominant northwest and northeast structures to host extensive and continuous mineralization at scale. We are very pleased that these initial assay results have continued to expand mineralization and we expect continued near term positive results from the remainder of the pending drill assays.”
Drillhole 22BNZDD008 represents the shallower portion of an extended zone of mineralization confirmed by the results of adjacent hole 22BNZDD003, which returned a similar broad interval of mineralization. Drillholes 22BNZDD008 and 22BNZDD003, as well as 22RDGDD001-22RDGDD004 were part of a larger effort in the 2022 drill program to extend the mineralized domains identified in historic drilling and to test the continuity of mineralization between the Bonanza and Ridge zones.
Early assay results as well as visual confirmation of analogous intersects exhibiting characteristics typical of the known mineralized zones (pending assay results) have extended the total mineralized northeast oriented strike to >660 metres and demonstrated that the Bonanza and Ridge zones form part of a larger interconnected mineralized system.
The positive results from the Bonanza and Ridge zones validates Thesis Gold’s comprehensive exploration strategy that includes targeting major NW-NE trending fault structures by identifying anomalous geophysical magnetic lows, which are strongly associated with mineralization at the Ranch Gold Project. Broad sections of the mineralizing fault structures remain untested, which contributes to the significant upside potential of the Ranch Gold Project.
The successful 2022 summer drill program at Ranch has officially been completed, with a final meterage of 32,014 metres from 119 drill holes, combined with the spring program this brings the total for the year to 36,491 metres. The early results from the summer program clearly demonstrate the scalability and major resource potential of the Ranch Project and provide a strong foundation for future exploration programs.
Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the Toodoggone region of the Golden Horseshoe area of northern British Columbia.