Thesis Gold drills 49.14 g/t gold over 7.42 metres at Ranch Project, British Columbia

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Thesis Gold Inc. [TAU-TSXV; A2QQ0Y-WKN] reported additional drill results from the Bonanza zone, including 7.42 metres in core length of 49.14 g/t gold in drill hole 21BNZDD010. The Bonanza zone is one of four primary zones tested during the greater-than-16,000-metre inaugural 2021 drill program at its 100%-owned, 17,832-hectare, Ranch gold project, located approximately 300 km north of Smithers in the Golden Horseshoe of north-central British Columbia.

Drill highlights include 7.42 metres of 49.14 g/t gold, including 4.40 metres of 80.00 g/t gold in hole 21BNZDD010; 40.00 metres of 3.84 g/t gold, including 11.02 metres of 10.89 g/t gold in hole 21BNZDD009; and 13.72 metres of 11.15 g/t gold, including 1.09 metres of 78.35 g/t gold in hole 21BNZDD016. Refer to company press release for complete drill results.

Two primary northeast and northwest fault structures control Bonanza zone mineralization; the zone remains open and now extends northwest over 330 metres and northeast over 260 metres. The Ridge zone’s high-grade mineralization including hole 21RDGDD009 (27.00 metres of 8.80 g/t gold equivalent) may be an offset extension of the northeast part of the Bonanza zone. Gold mineralization is spatially associated with magnetic lows in the hangingwall of major and secondary faults; many of these targets have not yet been drill tested.

Ewan Webster, president and CEO, commented: “These results again demonstrate the high-grade near-surface continuity of the Ranch project”s gold systems. As more results come in, our understanding of the controls on mineralization is evolving, and helping us define new, untested targets near Bonanza. The Ridge zone shares many geological and geophysical similarities with Bonanza and could represent a northeast extension of the system.”

The 2021 data show a clear spatial link between gold mineralization and property-scale faulting, with elevated gold values in the hangingwall of these structures. The gold is associated with broad zones of silica alteration and associated magnetic destruction that produce linear magnetic low responses. Several new targets have been identified using these criteria. Targets will be further refined through the continuing integration of new data. The company will be testing new machine-learning and lineament analysis techniques using the integrated data set, which includes lidar, ground magnetics, VTEM (versatile time domain electromagnetic), soil/rock geochemistry and bedrock/alteration mapping.


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