Cassiar Gold Discovers New Gold Occurrence, Expands Surface Mineralization, and Identifies Multiple Gold-In-Soil Anomalies at Cassiar North
Cassiar Gold Discovers New Gold Occurrence,
Expands Surface Mineralization, and Identifies
Multiple Gold-In-Soil Anomalies at Cassiar
North
Calgary, Alberta--(Newsfile Corp. - March 1, 2024) -
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX:
CGLCF)
(the "Company") is pleased to report the results of surface exploration conducted across
extensive parts of the northern Cassiar Gold Property in northern British Columbia during the 2023
exploration program (Figure1).
The Cassiar Gold Property hosts several regional prospects with potential to host Taurus-style
mineralization in outlying areas to the Taurus bulk-tonnage Inferred gold resource of 1.4 million ounces
grading 1.14 grams per tonne (g/t) gold (Au)
[1]
. The surface program was designed to provide a
geological, geochemical and geophysical base for exploration beyond established drill targets, and
enhanced geological context to support expansion of known deposits and targets.
Results from this field
program, conducted concurrent to the Company's 2023 diamond drill program, highlight several priority
exploration targets, while newly acquired 3D DC-resistivity and induced polarization (DCIP) survey data
covering 12km
2
has identified multiple anomalies that will contribute to 2024 program planning.
Highlights:
Field crews have identified new mineralization trends at Cassiar North regional prospects through a
combination of geological mapping, surface rock sampling (Figure 2) as well as soil sampling (Figure
3).
Surface rock samples results:
discovered the new Auroch mineralized showing, including a 9.82 g/t Au grab sample with
visible gold and 20.30 g/t Au in float,
expanded significant surface mineralization at multiple regional prospects, including up to
2.5 km to the east along the Newcoast target corridor, and 250 m to the southwest at the
Hopeful prospect.
Multiple gold anomalies were identified in soil sample results, coincident with major mapped
structural trends and limited surface rock sample data, and remain open beyond the extent of the
survey sample grid
Lineaments observed in recent DCIP survey 3D inversion products suggest the presence of a
series of northwest and northeast trending features, concordant to the orientation of mineralization-
controlling structures commonly observed at the Cassiar North project area. These features
coincide with areas of carbonate-sericite alteration and vein development that have the potential to
host or control additional areas of mineralization.
"We are very encouraged by the prospectivity of the Cassiar North project area in supporting our district
vision. The geological, geochemical, and geophysical characteristics observed from 2023 field program
results support the potential for a more significant mineralizing system in this area than currently
identified," stated Marco Roque, CEO of Cassiar Gold Corp. "These results affirm our commitment to
advancing regional exploration on the property and we look forward to returning to the field as 2024
targeting is currently underway."
Figure 1. Cassiar North 2023 field campaign plan view of map area, grab sample and soil
sample locations, as well as DCIP survey grid footprint (shown in detail in Figures 2-5).
Locations of new gold occurrence or gold-in-soil anomalies are represented by white stars.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/200030_de22e6f194c4f81a_002full.jpg
Geological Mapping
Field crews from Equity Exploration Consultants and the Company conducted geological mapping in the
Cassiar North project area between August and October, 2023. The area of interest covered a 40km
2
footprint peripheral to the Taurus inferred mineral resource in areas and had seen little or no previous
mapping. Outcrops were typically encountered along topographic highs, creek beds, and along road
cuts and disturbances. Bedrock exposure is sparse in topographic lows and areas of gentle relief. Over
1,800 individual outcrop stations were located, mapped, described and selectively sampled.
Mafic volcanic rocks were the predominant lithology observed, which is the host unit for veining and
mineralization in the map area (Figure 2). Broad overprinting alteration envelopes are commonly
associated with shear and extensional veining hosted within the mafic volcanics often along geological
contacts, including quartz-ankerite
+
pyrite, quartz-sericite, and calcite. Argillite and listwanite exposures
were observed to have a northwest-southeast dominant foliation and shear zone development with
associated alteration along, or defining the contacts of these units.
A series of repeating, northwest-trending shear veins and brittle fault structures, interpreted to represent
brittle reactivation of an earlier ductile event, were observed in the central portion of the map area and at
the Snow Creek prospect in the east. Quartz veins may contain little sulphide mineralization and occur as
northwest-trending shear vein structures, commonly observed proximal to contacts between mafic
volcanics and adjacent weaker units, and high density sets of narrow sheeted northeast-striking
extensional veins with extensive alteration envelopes.
Figure 2. 2023 geological map with grab sample results, relative to the Taurus Inferred Mineral
Resource.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/200030_de22e6f194c4f81a_003full.jpg
Surface Rock Samples
A total of 308 surface rock samples were collected across a 40 km
2
area peripheral to the Taurus
deposit during the geological mapping program. Of the samples collected, thirty-two have gold
mineralization >0.50 g/t Au and nineteen samples returned assay values above 1.00 g/t Au, including
those collected at the newly identified Auroch showing which returned
9.82 g/t Au
in a mafic volcanic
grab sample (ST034035) and
20.30 g/t Au
in a quartz vein float sample (ST034404) (Table 1, Figure 2).
Significant gold assays occur in several samples collected up to 2.5 km along strike of known surface
mineralization at the Newcoast target corridor (Figure 2), including a 0.99 g/t Au sample collected
immediately upstream of the site of the largest gold nugget discovery in BC in 1877 (72 ounces)
[2]
. This
trend remains open and is a priority target for follow up.
The Hopeful prospect is situated 300 m southeast of the southwest extent of the Taurus Deposit
mineralization and 400 m northeast of Wings Canyon drill holes (Figure 2). Grab samples from the 2023
season confirmed the presence of gold in mafic volcanics at surface up to
2.00 g/t Au
in sample
ST034268, and extended mineralization up to 250 m to the southwest in samples ST034777 and
ST034782, which returned 1.05 g/t Au and 1.35 g/t Au, respectively . See Table 1, Figure 2 for additional
assay highlights.
Table 1. Significant 2023 surface rock sample results from the Cassiar North project area
based on a >1.0 g/t Au cutoff. Samples reported in the table are grab samples, with the
exception of one float: sample ST034404.
Note: grab and float samples are selective by nature and
are not necessarily indicative of similar mineralization on the property.
Sample ID
UTM Easting
UTM Northing
Lithology
Au (g/t)
ST034035
462084
6570138
mafic volcanic
9.82
ST034100
459995
6570775
mafic volcanic
3.98
ST034104
459736
6571617
mafic volcanic
1.57
ST034111
459558
6571523
quartz vein
1.54
ST034112
459569
6571277
mafic volcanic
1.96
ST034213
459419
6570759
mafic volcanic
1.09
ST034268
459886
6569688
mafic volcanic
2.00
ST034303
461900
6568093
mafic volcanic
1.76
ST034306
461615
6568165
mafic volcanic
1.58
ST034308
461910
6568116
mafic volcanic
1.12
ST034318
462736
6570233
quartz vein
1.81
ST034320
462608
6570117
mafic volcanic
1.08
ST034358
460543
6569561
mafic volcanic
1.48
ST034403
462537
6571384
mafic volcanic
1.31
ST034404
462386
6570329
mafic volcanic
20.30
ST034409
463138
6571030
mafic volcanic
1.40
ST034772
456001
6573168
quartz vein
1.37
ST034777
459567
6569590
mafic volcanic
1.05
ST034782
459565
6569594
mafic volcanic
1.35
Soil Sampling
A soil sampling program was conducted over a 3 square kilometre area east of the past-producing
Taurus Mine, eastward to the area of the Snow Creek prospect to test for potential near surface
mineralization in an area with thin cover, little outcrop exposure, and very limited historical exploration. A
total of 483 samples were collected from August to September 2023. Multiple gold-in-soils anomalies
were identified (Figure 3), notably:
1)
Bos Trend
: anomalous gold-in-soils results, including 1.9 ppm Au in sample F474013, occurring
along a northwest-trend approximately 700 m south of the historical Taurus Mine, 400 m east of the
paved Cassiar Road, and extending 900 m along strike beyond the mapped extent of a major shear
zone identified in this program ('Bos Shear'),
2)
Auroch
anomaly: hosted the sample with the highest gold content among all soil/talus fine samples
with 5.5 ppm Au in sample F474415, with 1.6 ppm Au in sample F474414 located 58 m to the north.
These samples are coincident with high grade surface rock samples (Auroch showing) reported in this
news release.
3)
Snow Creek
anomaly: proximal to a mapped northwest-striking shear zone on the Snow Creek target
ridgeline ('Snow Ridge Shear'). These anomalies occur in an alpine setting and are largely composed of
talus fines. Results include six samples with gold values >1.0 ppm over a 200 m x 200 m area.
These anomalies demonstrate a spatial correlation with extensional quartz veining and shear zones with
strong alteration halos where limited outcrop is observed. They remain open with potential to extend
beyond the footprint of the 2023 survey grid.
"We are pleased to see that results of our regional program reinforce our targeting concepts with clear
structural controls on mineralization at various levels across the property," stated Jill Maxwell, VP
Exploration of Cassiar Gold Corp. "Our recent field program demonstrates the potential for lateral and
vertical extension of mineralization, as well as additional targets for stacked mineralization horizons and
entirely new areas of mineralization in the district."
Figure 3. Soil sample grid with gold assays, relative to the Taurus Inferred Mineral Resource.
Anomalies of interest are indicated by black dashed outlines and remain open beyond the
extent of the survey grid.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/200030_de22e6f194c4f81a_004full.jpg
DCIP Survey
The Company contracted Dias Geophysical Ltd. ("Dias") to complete a 3D direct current-resistivity and
induced polarization (DCIP) survey over approximately 12 square kilometres (Figures 1, 4, 5) during the
2023 field season with the objective to integrate modern data with coarse historical IP survey coverage
and evaluate the potential for direct detection of Taurus-deposit style disseminated pyrite mineralization
beyond the extent of the inferred mineral resource, as well as potential identification of structural and
lithological features.
Dias generated two sets of unconstrained 3D inversion models of chargeability, conductivity, and
resistivity using 1) 2023 survey data, and 2) 2023 survey data integrated with historical survey data.
A significant northwest trending corridor of moderate chargeability and resistivity signature coincident
with the footprint of, and extending beyond, the Taurus deposit is apparent, and extends up to one
kilometre from the southwest extent of the current inferred resource pit shell boundary to Wings Canyon.
Multiple gold occurrences and minimal exploration drilling are present along this corridor (Figure 4). A
moderately chargeable and resistive response is noted to extend to the north of the Taurus deposit in an
area with favorable host rock lithologies, gold-bearing surface rock samples, and little to no exploration
drilling.
The historical Taurus Mine sits at the margin of a moderate chargeability response which coincides with
a strong resistivity low interpreted to represent the extension of the major northwest trending shear
mapped during the 2023 program and coincident with the Bos trend gold-in-soils anomaly described in
this news release (Figure 5). A second significant resistivity low (northwest oriented) is noted to extend
from Wings Canyon to the western extent of the Taurus deposit, concordant to the Bos trend signature,
along the margin of the moderate chargeability corridor. It is coincident with a change in lithology, vein
development and alteration, and is interpreted to represent a major structural corridor.
Figure 4. Map of the vertical projection of the DCIP survey chargeability inversion (mV/V) of
integrated 2023 + historical survey data in plan section at 1060 m elevation, with surface rock
and soil sample results from the 2023 field campaign.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/200030_de22e6f194c4f81a_005full.jpg
Figure 5. Map of the vertical projection of the DCIP survey DC resistivity inversion (Ohm-m) of
integrated 2023 + historical survey data in plan section at 1030 m elevation, with surface rock
and soil sample results from the 2023 field campaign.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/200030_de22e6f194c4f81a_006full.jpg
Survey Specifications
The field program was completed using the DIAS32 acquisition system with a Dias GS5000 25kW
transmitter, and a rolling distributed 3D array with pole-dipole transmitter configuration. The inversion
model derived from integration of 2023 and historical datasets provided near surface resolution of
approximately 25 m x 50 m, and a depth search of approximately 400-600 m.
The survey was comprised of 24 transmit lines alternating with 24 receiver lines, oriented northwest-
southeast with an azimuth of 150
o
and 100 m spacing. Transmitter stations were spaced 200 m apart
and receiver stations were spaced 100 m apart along their respective lines. Two current extensions
were extended beyond the ends of the transmit lines to increase depth of investigation along grid
margins; a current remote electrode station was established approximately 5 km west of the grid.
Summary
Based on the success of the 2023 field campaign, through use of integrated exploration methods, the
Company has identified several new exploration targets and better placed known targets into a more
refined geological and geophysical context. Program results demonstrate the robust potential for
continued growth in the historic Cassiar Gold District. Exploration targeting and program planning is
ongoing in advance of the field season which is slated to commence in the second quarter of 2024.
Qualified Person
The technical information in this news release has been reviewed and approved by Jill Maxwell, P.Geo.,
Cassiar Gold Corp.'s VP Exploration, who is a Qualified Person as defined by National Instrument 43-
101.
Methodology, Quality Assurance (QA) and Quality Control (QC)
The 2023 Cassiar grab samples were selected and described by Company and Contract Geologists
prior to bagging in the field. Certified gold reference standards and blanks were routinely inserted into
the sample stream as part of the Company's QA/QC program. All samples were delivered to the ALS
Global preparation facility in Whitehorse, Yukon, where they were shipped to the ALS Global analytical
facility in Vancouver, British Columbia for processing and analyses. Samples were analyzed for gold by
50-gram fire assay with finish by atomic absorption or gravimetric methods, as well as 34 multielement
analysis via 4 acid digest with ICP-AES finish.
The 2023 Cassiar soil samples were predominantly comprised of B horizon material, with limited C
horizon and talus fines. Samples were bagged, transported and submitted for preparation with analyses
at ALS Global in Vancouver, BC. The soil samples were reconnaissance in nature and the Company has
relied on the internal QA/QC practices of ALS for this series of sampling. Samples were dried then
sieved up to -180 micron (80 mesh),
analyzed for gold by 30-gram fire assay and 51 multielement
analysis aqua regia digestion with ICP-MS finish.
ALS Global quality systems and technical aspects conform to requirements of ISO/IEC Standard 17025
guidelines.
About Cassiar Gold Corp.
Cassiar Gold Corp. is a Canadian gold exploration company holding a 100% interest in its flagship
Cassiar Gold Property located in British Columbia, Canada. The Cassiar Gold property spans 590 km
2
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 (see National Instrument 43-101 Technical report on the Cassiar Gold property, April 28, 2022,
by S. Zelligan, J. Moors, C. Jolette, posted to SEDAR); and Cassiar South which hosts numerous gold
showings, historical workings, and exploration prospects. Historical underground mines in the Cassiar
South area have yielded over 315,000 oz of Au at average head grades of between 10 and 20 g/t Au
1
,
underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.
The Company also holds a 100% interest in properties covering most of the Sheep Creek gold camp
located near Salmo, BC. The Sheep Creek gold district ranks as the third largest past-producing
orogenic gold district in BC with historical gold production of 742,000 ounces gold at an average grade
of 14.7 g/t gold from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.
Cassiar Gold Corp. acknowledges, respects, and supports the rights of Traditional First Nations in the
lands and communities where we operate.
CONTACT INFORMATION
Cassiar Gold Corp.
E-mail:
Phone: 236-878-6160
Forward-Looking Statements
This news release may contain forward-looking statements including those describing the Company's
future plans and the expectations of management that a stated result or condition will occur. Any
statement addressing future events or conditions necessarily involves inherent risk and uncertainty.
Actual results can differ materially from those anticipated by management at the time of writing due to
many factors, the majority of which are beyond the control of the Company and its management. In
particular, this news release contains forward-looking statements pertaining, directly or indirectly, to
the Company's exploration plans and work commitments, mineral resource estimates and the
assumptions underlying such estimates, and economic factors, business and operations strategies.
Although the Company believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very nature they involve
inherent risks and uncertainties, actual results could differ materially from those currently anticipated
due to a number of factors and risks. These include, but are not limited to, general economic, market
or business conditions, risks associated with the exploration and development industry in general
(e.g., operational risks in development, exploration and production; the uncertainty of mineral
resource estimates; the uncertainty of estimates and projections relating to production, costs and
expenses, and health, safety and environmental risks), constraint in the availability of services,
commodity price and exchange rate fluctuations, the current COVID-19 pandemic, changes in
legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from
potential delays or changes in plans with respect to exploration or development projects or capital
expenditures.
Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive.
These statements speak only as of the date of this release or as of the date specified in the
documents accompanying this release, as the case may be. The Company undertakes no obligation
to publicly update or revise any forward-looking statements except as expressly required by
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
[1] See April 28, 2022, NI43-101 Report titled
"National Instrument 43-101 Technical Report on the Cassiar Gold Property"
by Zelligan, P.Geo,
Moors, P.Geo, Jolette, P.Geo.
[2] 1976,
"Historic Treasures and Lost Mines of British Columbia"
, Canada West Publications