Cassiar Gold Expands Gold Mineralization at Taurus West Intersecting 71.6 m of 1.54 g/t Au Including 23.5 m of 3.68 g/t Au
Cassiar Gold Expands Gold Mineralization at
Taurus West Intersecting 71.6 m of 1.54 g/t Au
Including 23.5 m of 3.68 g/t Au
Calgary, Alberta--(Newsfile Corp. - April 6, 2023) -
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX:
CGLCF)
(the "Company") is pleased to announce assay results from an additional nine diamond drill
holes that were part of the 2022 exploration program completed at and near the Taurus Deposit, located
on Company's flagship Cassiar Gold Property. Results reported here contribute to the progressive
expansion of mineralization both within and near the footprint of the Taurus Deposit and further
demonstrate continuity of a higher-grade corridor of gold mineralization at the western extent of the
deposit.
Cassiar Gold's 2022 exploration program comprised 23,000 meters in 70 diamond drill holes focused
on strategic areas of the Taurus Deposit, as well as significant vein prospects in Cassiar South and
other brownfields targets. Results from 13 drill holes totaling 5,259 metres of drilling from this program
are yet to be disclosed as the Company continues to await the return of additional assay results.
Highlights from the Taurus West area:
Drill hole 22TA-180 intersected
71.6 m of 1.54 g/t Au
from 177.5 m down hole, including
23.5 m
of 3.68 g/t Au
, expanding mineralization beyond the resource block model along the Taurus West
Fault (Table 1).
Drill hole 22TA-182 intersected
58.8 m of 1.34 g/t Au
from 194.7 m downhole, including
12.8 m of
2.41 g/t Au
, expanding mineralization beyond the extend of the resource block model.
Drill hole 22TA-174 returned multiple mineralized intercepts, including:
77.2 m of 0.67 g/t Au
from 12.3 m downhole, including
24.3 m of 1.13 g/t Au
, confirming
near-surface mineralization at Taurus West, and
24.3 m of 1.13 g/t Au,
extending mineralization at depth along the Taurus West Fault, 145 m
north
of previous drilling.
"Our 2022 drill program at the Taurus Deposit continues to deliver excellent results, with these most
recent intercepts highlighting the potential for further expansion of the resource within higher-grade
mineralized corridors," stated Marco Roque, CEO of Cassiar Gold Corp. "The positive developments
from this program reinforce the potential for ongoing growth at Taurus in 2023."
Table 1. Significant 2022 drilling results from Taurus Deposit based on a >0.5 g/t cutoff.
While
true thickness has not been established, drill holes are designed to cross at high to moderate angles
within known corridors of mineralization based on orientations of mineralized areas defined by
previous drilling and structural data from oriented drill core and outcropping veins.
Target Area
Drillhole
From
To
Length*
Grade
22TA-164
65.8
75
9.2 m
0.90 g/t Au
88.3
104.2
15.9 m
0.65 g/t Au
22TA-168
77.0
80.9
3.9 m
0.57 g/t Au
137.3
149.0
11.7 m
0.61 g/t Au
22TA-170
51.0
54.6
3.6 m
4.19 g/t Au
incl.
53.0
53.9
0.9 m
14.80 g/t Au
91.0
110.8
19.9 m
0.60 g/t Au
193.6
240.2
46.6 m
1.19 g/t Au
incl.
219.5
226.4
6.9 m
2.77 g/t Au
and
236.0
239.3
3.3 m
3.52 g/t Au
22TA-171
72.1
76.2
4.1 m
0.97 g/t Au
Taurus West
163.0
168.0
5.0 m
0.54 g/t Au
173.0
183.2
10.2 m
0.53 g/t Au
213.8
235.9
22.1 m
1.94 g/t Au
22TA-173
19.3
25.4
6.1 m
0.96 g/t Au
60.9
70.4
9.6 m
1.98 g/t Au
incl.
60.9
62.2
1.3 m
11.03 g/t Au
98.2
105.1
6.9 m
0.52 g/t Au
136.2
142.1
5.9 m
0.61 g/t Au
22TA-174
12.3
89.5
77.2 m
0.67 g/t Au
incl.
364.2
388.5
24.3 m
1.13 g/t Au
22TA-180
7.1
19.1
12.0 m
2.52 g/t Au
incl.
8.2
11.2
3.0 m
4.50 g/t Au
and
14.1
18.0
3.9 m
3.61 g/t Au
35.8
38.7
3.0 m
4.52 g/t Au
incl.
37.8
38.7
0.9 m
12.42 g/t Au
incl.
38.2
38.7
0.6 m
16.35 g/t Au
48.4
57.8
9.5 m
1.48 g/t Au
incl.
56.7
57.8
1.1 m
8.41 g/t Au
165.2
166.4
1.3 m
2.56 g/t Au
177.5
249.1
71.6 m
1.54 g/t Au
incl.
222.0
245.5
23.5 m
3.68 g/t Au
incl.
222.0
223.0
1.0 m
37.40 g/t Au
22TA-182
9.0
12.0
3.0 m
8.38 g/t Au
incl.
11.0
12.0
1.0 m
23.50 g/t Au
54.9
78.3
23.4 m
1.06 g/t Au
incl.
55.9
57.0
1.2 m
8.83 g/t Au
and
75.5
76.2
0.7 m
3.56 g/t Au
194.7
253.5
58.8 m
1.34 g/t Au
incl.
240.2
253.0
12.8 m
2.41 g/t Au
incl.
250.6
251.2
0.5 m
13.75 g/t Au
22TA-183
18.6
21.6
3.1 m
0.50 g/t Au
61.0
64.2
3.2 m
0.66 g/t Au
77.2
98.7
21.6 m
0.96 g/t Au
* Drill core lengths are reported here. True widths for these intervals have not been established.
Target Area
Drillhole
From
To
Length*
Grade
2022 Drilling at the Taurus Deposit - Cassiar North Drill Program
The Taurus Deposit hosts a significant near-surface, bulk-tonnage, and pit-constrained inferred gold
resource of 1.4 million ounces grading 1.14 g/t Au
1
.
The latest drilling results reported in this news
release are from nine holes totaling 2,586 m from the Taurus West area of the Taurus deposit (Figure 1).
The Taurus drill program was designed to assess the distribution and continuity of two different styles of
mineralization found within the Taurus Deposit which collectively form broad mineralized zones that are
potentially amenable to open pit mining. These styles include east-west trending sheeted vein sets and
minor shear zones with coalescing pyrite envelopes and disseminated pyrite mineralization along the
north-northwest trending and east-dipping Taurus West Fault corridor.
The drilling results reported here
expand mineralization at Taurus West, both within and near the existing footprint of the inferred mineral
resource, and further define the continuity of a wide, gently south-plunging high-grade corridor along the
Taurus West Fault.
Figure 1. Cassiar North 2022 drill campaign drill hole locations plan map of infill and expansion
drilling at the Taurus deposit, with the location of drill holes reported within this news release
contained within the blue square (shown in detail in Figure 5). Drill hole numbers refer to holes
with the prefix "22TA-".
Drill holes reported in this news release are shown with yellow collars,
pending 2022 drill holes for which complete assays have not yet been received are in green,
and previously reported 2022 drill holes are in orange.
Notes - Historical production figures from
Taurus MINFILE Production Detail Report, file number 104P 012, BC Geological Survey.
The Taurus
East mineralization model (orange).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/161453_04b69f9784b73a6f_002full.jpg
Taurus West Drill Holes
These nine drill holes were drilled at the western extent
of the Taurus deposit to evaluate the continuity of
mineralization between resource blocks along the Taurus West Fault within and near the western
boundary of the 2022 inferred mineral resource model, as well as test for the potential extension of
mineralization into the fault footwall.
Drill hole 22TA-180:
Drill hole 22TA-180 (northwest oriented) was designed to test between resource blocks along a south-
plunging mineralized trend along the Taurus West Fault, 70 m southeast of 22TA-170 (reported in this
news release) and 30 m south of a high grade intercept from drill hole 21TA-135 from the 2021 drill
program (see
News Release, January 6, 2022
). Multiple intercepts were returned (Figure 2, 5; Table 1)
which include:
12.0 m of 2.52 g/t Au from 7.1 m downhole
, confirming the presence of near-surface high grade
mineralization that extends beyond the extent of the resource block model.
9.5 m of 1.48 g/t Au
from 48.4 m downhole, expanding mineralization beyond the resource block
40 m from surface, and
71.6 m of 1.54 g/t Au
from 177.5 m downhole, including:
23.5 m of 3.68 g/t Au
,
including
1.0 m of
37.40 g/t Au
This broad, above-resource grade intercept expands mineralization beyond the extent of the 2022
resource block model and confirms the continuity of a gently south-plunging high-grade corridor of
mineralization along the Taurus West Fault.
Figure 2. Vertical section showing 22TA-180 at the Taurus Deposit, looking to the southwest
.
Assay results in grey are from previously reported drill holes.
Assay results in red and higher-grade
nested intervals in black are reported in this news release. Section width +/- 20 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/161453_04b69f9784b73a6f_003full.jpg
Drill holes 22TA-182:
Southwest-oriented drill hole 22TA-182 was designed to evaluate the potential extension of
mineralization within the footwall of Taurus West Fault and test a 75 m gap between in drilling. Results
returned (Figure 3, 5; Table 1):
3.0 m of
8.38 g/t Au
from 9.0 m downhole, identifying near-surface high grade mineralization 35 m
northwest of the current resource block model.
23.4 m of 1.06 g/t Au
from 54.9 m downhole, expanding mineralization 25 m northeast of the
current block model and 40 m from surface.
58.8 m of 1.34 g/t Au
from 194.7 m downhole, expanding mineralization 30 m beyond the extent
of the block model in the hanging-wall along the Taurus West Fault.
Figure 3. Vertical section showing 22TA-182 at the Taurus West target area, looking to the
northwest
. Assay results in red and higher-grade nested intervals in black are reported in this news
release.
Section width +/- 20 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/161453_04b69f9784b73a6f_004full.jpg
Drill holes 22TA-170 and 22TA-171:
Drill holes 22TA-170 and 22TA-171 (west northwest-oriented) were designed
as 40-55 m step-outs
between resource blocks from mineralized intercepts encountered in drill holes 22TA-132 and 22TA-135
during the 2021 drill program (see
News Release, January 6, 2022
).
22TA-170 was drilled 50 m up-dip of 22TA-171 along the Taurus West Fault, and returned:
19.9 m of 0.60 g/t Au
from 91.0 m downhole, expanding mineralization 30 m north of the current
block model.
46.6 m of 1.19 g/t Au
from 193.6 m downhole, including
6.9 m of 2.77 g/t Au
and
3.3 m of 3.52
g/t Au,
expanding mineralization along the Taurus West Fault.
Drill hole 22TA-171 tested within an 80 m area between 2021 drill holes along the Taurus West Fault
and returned
22.1 m of 1.94 g/t Au
. See Table 1, Figure 4, 5 for additional results.
Figure 4. Vertical section showing 22TA-170/22TA-171 at the Taurus West target area, looking
to the northwest
.
Assay results in red and higher-grade nested intervals in black are reported in this
news release. Section width +/- 20 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/161453_04b69f9784b73a6f_005full.jpg
Drill holes 22TA-174:
South-oriented drill hole 22TA-174 was designed to test for the extension of mineralization along the
Taurus West Fault north of a broad well-mineralized intercept encountered in 2021 drill hole 21TA-128
(see
News Release, January 6, 2022
). Results (Figure 5; Table 1) include:
77.2 m of 0.67 g/t Au from 12.3 m downhole
, confirming the continuity of mineralization at
surface, and
24.3 m of 1.13 g/t Au
from 364.2 m downhole, extending mineralization at depth along the Taurus
West Fault,
145 m north of mineralization in drill hole 21TA-128.
Figure 5. Plan map of 2022 drill holes reported in this news release, the location of which is
shown in Figure 1. The vertical projection of the mineralized intercepts which are reported here
are included for reference.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/161453_04b69f9784b73a6f_006full.jpg
Drill holes 22TA-164 and 22TA-183
Drill holes 22TA-164 and 22TA-183 were designed to evaluate the continuity of near-surface
mineralization within a 70 m area between historical drilling internal to the pit shell model.
These holes
were extended to test for potential of gold mineralization in the footwall of the Taurus West Fault. Drill
hole 22TA-183 was planned to twin a mineralized intercept encountered in 22TA-165 (see
News
Release, January 17, 2023
) in a successful effort to improve core recovery within the mineralized zone.
Results include (with additional results in Table 1 and Figure 5):
15.9 m of 0.65 g/t Au
in drill hole 22TA-164 and
21.6 m of 0.96 g/t Au
in 22TA-183 in the
hanging-wall of the Taurus West Fault, extending mineralization beyond the extent of the current
resource block model and open pit shell.
Drill holes 22TA-168 and 22TA-173
Drill holes 22TA-168 and 22TA-183 were designed to evaluate the continuity of near-surface
mineralization within a 100 m previously untested area between historical drill holes. Drill Hole 22TA-173
was planned to twin 22TA-168 in a successful effort to improve core recovery within the mineralized zone
at this locale. See Table 1 and Figure 5 for results.
These result from the western extent of the Taurus Deposit demonstrate a more continuous trend of
higher-grade mineralization along the Taurus West Fault than previously modeled, well above the 0.5 g/t
Au cutoff grade of the Taurus inferred mineral resource. These results reinforce the potential to identify
additional higher-grade corridors within the Taurus Deposit which remains open in most directions as
well as at depth.
Qualified Person
The technical information in this news release has been reviewed and approved by Jill Maxwell, P.Geo.,
Cassiar Gold Corp.'s Exploration Manager, who is a Qualified Person as defined by National Instrument
43-101.
Quality Assurance (QA) and Quality Control (QC)
The 2022 Cassiar drilling program comprises HQ drill core oriented using the REFLEX ACTIII system.
Drill core samples are selected and logged by geologists prior to being cut in half using a diamond
cutting saw at a secure facility located in Jade City, British Columbia. Certified gold reference standards
and blanks are routinely inserted into the sample stream as part of the Company's QA/QC program. All
samples are delivered to the ALS Global preparation facility in Whitehorse, Yukon, where they are
processed, and then shipped to the ALS Global analytical facility in North Vancouver, British Columbia.
Samples are analyzed for gold by 50-gram fire assay with finish by atomic absorption or gravimetric
methods. Screen metallic analysis is performed on selected samples. 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
2
,
underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.
The Company also holds a 100% interest in 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
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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
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