Thesis Gold drills 4.69 g/t gold over 20.3 metres at Ranch project, British Columbia
Thesis Gold Inc. [TAU-TSXV; THSGF-OTCQX; A2QQ0Y-WKN] reported assay results from 11 holes drilled at the Bonanza-Ridge zone during the 2022 field season. These results continue to expand the mineralized footprint at the Bonanza-Ridge zone on the 100%-owned, 17,832-hectare, Ranch gold project, located in the Golden Horseshoe region of north-central British Columbia, approximately 300 km north of Smithers.
Highlights: Ridge hole 22RDGDD037 returned 20.3 metres (core length) of 4.69 g/t gold and 15.29 g/t silver (or 4.88 g/t gold equivalent – AuEq), including 7.3 metres of 9.25 g/t gold and 8.76 g/t silver (or 10.02 g/t AuEq). High-grade gold (17.08 g/t Au) was intersected over a 3.3 metres interval, beginning at 129.7 metres depth.
High-grade gold in hole 22RDGDD037 demonstrates excellent down-dip continuity across numerous drill holes and high-grade gold in rock samples collected at surface.
Strong gold mineralization over wide intercepts at the Ridge zone further extended mineralization at depth and along strike. Hole 22RDGDD015 returned 15.56 metres of 3.79 g/t AuEq; 22RDGDD025 returned 25.6 metres of 1.14 g/t AuEq; 22RDGDD035 returned 13.33 metres of 1.19 g/t AuEq (farthest northeast confirmed mineralization). Bonanza-Ridge mineralization now extends over 700 metres along strike.
Mineralization associated with northwest- and northeast-oriented structures continues to demonstrate good continuity and remains open along strike.
The company will continue to provide additional results from the 2022 drill program as they become available.
Dr. Ewan Webster, president and CEO, commented: “Drilling at the Bonanza-Ridge zone continues to return significant gold and silver intercepts at surface, while delivering continuity and consistent grade to depth. The consistency of results received thus far supports the tremendous upside on the resource potential of this rapidly expanding target. It will remain a key focus for our 2023 drill program.”
The positive drill results reported here increase the footprint of precious metal mineralization at the Ridge zone in all directions. Northeast- and southwest-directed stepout drilling continues to intersect broad, 10 metres to 25 metres wide intervals of mineralization, extending the strike length of the Bonanza-Ridge zone to over 700 metres.
The mineralized structure coincides with linear magnetic lows and shows potential across multiple data sets for further expansion with future drilling. The correspondence of high-grade gold in 22RDGDD037 with high-grade gold in rock grab samples at surface demonstrates the down-dip continuity of mineralization on that section to greater than 150 metres vertical depth. Drilling continues to show that significant mineralization at the Ranch project is spatially associated with intersecting northeast- and northwest-directed faults.
On another matter, the company has changed its auditor from MS Partners LLP to Zeifmans LLP, effective January 17, 2022.