Thesis Gold drills 34 metres of 19.56 g/t gold at Ranch project, British Columbia; shares up
Thesis Gold Inc. [TAU-TSXV; A2QQ0Y-WKN] reported initial drill results from the company’s maiden 20,000-metre drill program at its 100%-owned Ranch gold-copper project, located in the Golden Horseshoe of north-central British Columbia. Strongly altered zones from the first three holes at the Bonanza Zone were selected for rushed analysis.
Highlights
Drill hole 21BNZDD001 returned 34.00 metres (core length) of 19.56 g/t gold at the Bonanza Gold Zone, including 15.00 metres of 41.64 g/t gold and 7.00 metres of 82.48 g/t gold from a depth of only 26 metres downhole. Similarly, drill hole 21BNZDD003, a 15-metre step-out from 21BNZDD001, intersected high-grade gold mineralization essentially at surface returning 24.86 metres of 9.53 g/t gold, including 5.65 metres of 28.72 g/t gold.
Of the planned 20,000-metre drill program, over 6,000 metres has been completed to date at the Bonanza and Ridge Gold Zones that includes confirmation, expansion, and exploration drilling. Two diamond drill rigs are currently turning at Bonanza, but will shortly be moving to the Thesis 2 & 3 Gold Zones to complete a similar confirmation and expansion program.
A track mounted reverse circulation (RC) drill rig has recently been added and is testing over 10 new exploration targets at the heart of the project.
Dr. Ewan Webster, President and CEO, commented, “Thesis is delighted with these initial outstanding assay results from our maiden drill program. These first three confirmation holes at the Bonanza Zone confirm high-grade gold mineralization extends from surface to depth. We anticipate further results from both the Bonanza and the Ridge Zones over the coming weeks.”
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 “Golden Horseshoe” area of northern British Columbia, approximately 300 km north of Smithers, B.C.
In October 5 mid-day trading, Thesis shares had gained $0.18 to $1.48 on a volume of 419,500.