Thistle Resources begins trading on TSX Venture Exchange
Thistle Resources Inc. [TRCG-TSXV] said Tuesday its shares have begun trading on the TSX Venture Exchange. Thistle is a Canadian exploration company with a focus on precious and critical minerals in the Bathurst Mining Camp in New Brunswick.
Founded in 2017, Thistle has five projects covering 127.87 square kilometres located in New Brunswick, Cape Breton and Nova Scotia. Its flagship projects are the Middle River Gold and Brunswick Antimony projects.
The Middle River Gold Project is located along the east flank of the Nine Mile Syncline, approximately 10 kilometres north of the historic Brunswick #12 Mine, adjacent to the Brunswick Horizon. The deposit is a structurally controlled silicified zone with gold mineralization over strong widths (up to 38 metres) and appears associated with a distinct “melange” unit thought to be related to a thrust contact between a zone of sediments and volcanics.
The deposit has an Upper Gold Zone (surface to 130 metres) and a newly identified and untested, high-chargeability, Lower Zone (at 400 metres depth) as defined by both EarthEx Geophysical Solutions Inc. and Abitibi Geophysics.
Previous drilling results show a multitude of high-grade mineralization assays over strong thick intersections in multiple holes, the company said in a press release.
The gold mineralization has been traced by trenching and two drill programs, over just a 500-metre section and the company has 7.0 kilometres of folds to drill out. The company has said its next step is to launch a Phase 3.0 drill program at Middle River. It said drill permits have been received and drilling is expected to begin shortly, with the intention of proving out a 2.0-million-ounce gold deposit along the newly identified 7.0 kilometres of mineralized folds. Thistle CEO Patrick Cruikshank said the company is anxious to begin drilling this summer. “We have a tremendous opportunity to step out and drill our Upper Zone along our identified 7.0 kilometres of mineralized folds, and our newly identified high chargeability lower zone,’’ he said. “Thistle is well capitalized and our team anticipates a very active 2026 exploration season at Middle River Gold adding to our consistently strong gold results growing our overall deposit towards our 2.0-million-ounce target.’’
Gary Lohman, Thistle’s Vice-President, Exploration said that based on work conducted by EarthEx and Abitibi Geophysics, there is an abundance of drill ready high-priority targets along the mineralized folds. “The untested Lower Zone, independently identified by both EarthEx and Abitibi Geophysics, is characterized by extremely high chargeability, the size and scale of the anomalies providing the leverage to move the deposit forward and build ounces,’’ he said.
On Tuesday, Thistle shares were priced at 27.5 cents, leaving the company with a market cap of almost $17 million.
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