Thesis Gold Inc. [TAU-TSXV; THSGF-OTCQX; A2QQ0Y-FSE] reported the first assay results from the 2022 summer drill program at the bonanza zone and a general exploration update for the 100%-owned Ranch gold project, located in the Golden Horseshoe of north-central British Columbia, Canada.
Highlights include drillhole 22BNZDD004 that returned 17.52 metres core length of 3.41 g/t gold, 23.51 g/t silver and 0.58 % copper, or 4.59 g/t AuEq (gold equivalent).
These first four step-out holes from the Bonanza Zone all intersected significant gold mineralization, extending the zone >100 metres along strike to the northeast.
The 2022 drilling is beginning to demonstrate that an interconnected fault network of northeast and northwest structures is controlling broadly continuous mineralization over significant strike extents rather than isolated zones, indicating the larger resource potential of the Ranch Gold Project.
These initial 2022 drilling results and visually logged alteration and mineralization at both the Bonanza and adjacent Ridge zones are providing strong indications that they essentially represent a continuous zone of mineralization, offset by syn or late-stage faulting. This represents a minimum strike length of ~660 metres and remains open along strike; further drilling is planned.
These results demonstrate that a large-scale mineralizing system(s) is present at the Ranch Gold Project and was unrecognized by previous operators. Exploration drillholes testing a parallel northeast fault zone ~150 metres north of the Bonanza zone intersected similar leached vuggy quartz zones associated with high grade gold-silver mineralization. Ongoing exploration drilling continues to test mineralization along regional scale mineralizing structures that crosscut the Ranch Gold Project.
Ewan Webster, President and CEO, commented, “We are extremely pleased with these initial step-out drilling results at Bonanza, it certainly demonstrates the significant growth potential that remains. What we are beginning to confirm is that these are not isolated zones of mineralization but part of larger scale, fault-controlled, series of mineralized domains with significant strike extent. Visual alteration and mineralization from the additional pending holes at Bonanza and Ridge are inline with exactly what we were hoping to see. Drilling is still ongoing at a number of zones across the project, and we look forward to sharing those results as they become available.”
Mineralization at Bonanza and the adjacent Ridge zones remains open along-strike and at depth, with the geophysical and alteration features that define the prospective target zones remaining largely untested outside of the area delineated by historical and current drilling efforts undertaken by Thesis Gold.
Exploration holes 22BNZDD001-22BNZDD004 were planned as a fence to test the NE extension of the Bonanza Zone, with early results confirming the presence of significant mineralization well NE of the central target area of the main Bonanza Zone and extending mineralization over an additional 100 metres along strike.
Exploration hole 22BNZDD004 represents the furthest hole along the 2022 extension (Figure 2) with returned assay results, and importantly also produced the strongest interval of mineralization suggesting that the high-grade Bonanza zone likely continues passed the current confirmed extent. The Company continues to expand upon the initial success of the 2021 and 2022 drill programs, with pending assays expected to continue generating strong results towards defining a robust, broad scale gold-silver system.
The 2022 exploration program has built on the results of the maiden 2021 drill program by continuing with the proven strategy of drill testing the extensive NW and NE oriented fault systems which appear as linear magnetic lows throughout the property.
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.