Cassiar Gold Corp. [TSXV-GLDC; OTCQX-CGLCF] reported results from the remaining six drill holes from the 2023 exploration program at the 100%-owned Cassiar Gold Project in northern British Columbia. Results from these drill holes expand mineralization at the Taurus Deposit both within and beyond the current resource footprint.
The Taurus Deposit hosts a substantial near-surface, bulk-tonnage Inferred gold resource of 1.4 million ounces grading 1.14 g/t gold which remains open. Since the early 2022 resource estimate, additional drilling has continued to expand the footprint of mineralization at the deposit, which remained a priority for further expansion during the 2023 exploration campaign.
Highlights: All drill holes reported here encountered multi-metre intercepts of mineralization above the 0.5 g/t gold cutoff grade of the 2022 Inferred Mineral Resource at Taurus, extending mineralization both near surface and at depth along the Taurus West Fault. The latest results include drill hole 23TA-206 that encountered two significant gold-mineralized intercepts, including 101.4 metres of 0.84 g/t gold from 6.0 metres downhole, including 9.8 metres of 2.48 g/t gold and 4.0 metres of 4.81 g/t gold with 0.3 metres of 37.20 g/t gold, and 178.3 metres of 0.59 g/t gold, including 19.6 metres of 2.23 g/t gold from 196.1 metres downhole; 30.0 metres of 1.05 g/t gold from 11.4 metres downhole, 31.5 metres of 0.53 g/t gold from 74.5 metres, and 47.2 metres of 0.94 g/t gold from 133.7 metres downhole, in drill hole 23TA-208.
“The final drill results of 2023 continue to deliver positive results from the Taurus Deposit, with these most recent intercepts highlighting the potential for ongoing expansion of the resource within and adjacent to higher-grade mineralized corridors,” stated Marco Roque, CEO of Cassiar Gold. “The findings of this program reinforce the potential for continued growth at the Cassiar Gold Property as our technical team is actively integrating and interpreting results from our recent field program. Outcomes from this analysis will be reported as they become available.”
Six drill holes which are reported here, totaling 1,666 m in cumulative length, were drilled at the western extent of the Taurus deposit. The drilling intercepts lie within and beyond the existing footprint of the inferred mineral resource and were designed to expand mineralization near surface and at depth along the Taurus West Fault.
23TA-206 and 23TA-208: Drill hole 23TA-206 (northwest oriented) aimed to confirm near-surface mineralization and test 50 m down plunge of a south-plunging higher grade mineralized shoot along the Taurus West Fault, encountered in drill hole 23TA-187 south of the 2022 resource model and west of previous drilling.
Multiple intercepts were returned, including 101.4 m of 0.84 g/t Au from 6.0 m downhole, including 9.8 m of 2.48 g/t Au and 4.0 m of 4.81 g/t Au with 0.3 m of 37.20 g/t Au, confirming the distribution of near surface mineralization; and 178.3 m of 0.59 g/t Au from 196.1 m downhole, including 19.6 m of 2.23 g/t Au with 0.5 m of 8.53 g/t Au. This intercept intersected the extension of broad mineralization along the Taurus West Fault, and the down-plunge extension of a higher grade mineralized shoot, 50 m to the south and west of recent drilling, expanding mineralization both within and below the resource pit shell model.
Drill hole 23TA-208 (northwest oriented) was designed to test for the continuation of mineralization beyond the extent of the current resource block model near-surface, at moderate depth, as well as at depth along the Taurus West Fault. Results include 30.0 m of 1.05 g/t Au from 11.4 m downhole, including 1.5 m of 10.13 g/t Au with 0.6 m of 20.10 g/t Au, expanding near-surface mineralization; 31.5 m of 0.53 g/t Au including 0.5 m of 5.07 g/t Au and 0.6 m of 12.75 g/t Au, expanding mineralization beyond the block model at moderate depth, 45 m from previous drilling, and 47.2 m of 0.94 g/t Au, including 1.7 m of 7.93 g/t Au from 133.7 m downhole, expanding mineralization 50 m from previous drilling and within the resource pit shell model
Drill holes 23TA-200, -201, -203 (northwest oriented), and 23TA-202 (south oriented) were designed to test gaps between resource blocks where previous drill holes were widely spaced, up to 60 m from previous drilling. Results included 16.3 m of 0.51 g/t Au from 18.0 m downhole in 23TA-200, 11.3 m of 1.35 g/t Au in 23TA-201, 20.0 m of 0.60 g/t in 23TA-202, and 15.8 m of 0.80 g/t Au in 23TA-203.
Drilling at Taurus West continues to demonstrate a more continuous trend of south-plunging higher-grade mineralization along the Taurus West Fault than previously modeled. Drill results from the 2023 program highlight the potential for the ongoing expansion of mineralization between resource blocks internal to the pit shell model where the company continues to expand the footprint of the deposit laterally and at depth.
The Cassiar Gold property spans 590 km2 and consists of two main project areas: Cassiar North, which hosts a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au (cutoff grade of 0.5 g/t Au) known as the as the Taurus Deposit and Cassiar South which hosts numerous gold showings, historical workings, and exploration prospects.
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