Cassiar Gold Expands Mineralization at Taurus East Intersecting 6.6 m of 22.44 g/t Au from Surface and Reports Multi-Metre Intervals of Gold Mineralization from Wings Canyon
Cassiar Gold Expands Mineralization at
Taurus East Intersecting 6.6 m of 22.44 g/t Au
from Surface and Reports Multi-Metre Intervals
of Gold Mineralization from Wings Canyon
Calgary, Alberta--(Newsfile Corp. - March 3, 2023) -
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX:
CGLCF)
(the "Company") is pleased to announce assay results from an additional eight diamond drill
holes from the 2022 exploration program completed on exploration targets near the eastern portions of
the Taurus deposit, located on Company's flagship Cassiar Gold Property. The Taurus Deposit hosts a
substantial near-surface, bulk-tonnage, and pit-constrained inferred gold resource of 1.4 million ounces
grading 1.14 g/t Au
1
.
Drill holes reported here are from targets that lie 700 m east of the resource in the
Taurus East area as well as at the Wing Canyon area, 500 m southeast of the Taurus resource (Figure
1; Table 1). This drilling was designed to test for extensions of mineralization at the eastern extent of the
Taurus deposit and expand known mineralization at the sparsely drill tested Wings Canyon area, where
broad areas of alteration and mineralization have previously been identified.
The reported drill holes form part of Cassiar Gold's 2022 exploration program, which included 70 drill
holes and over 23,000 m of diamond drilling that was completed between June and October 2022.
Exploration was focused on strategic areas of the Taurus Deposit, key vein prospects in the Cassiar
South area and other brownfields opportunities on the property (Figure 1).
Results from 37 drill holes
which cumulatively total 12,867 metres of drilling from the 2022 program are yet to be disclosed as the
company continues to await the return of additional assay results.
Highlights from the Taurus East and Wings Canyon areas:
Taurus East drill hole 22TA-167 intersected
13.7 m of 2.24 g/t Au
, including 2.7 m of 7.21 g/t Au,
extending mineralization 40 m below previously reported 2022 drilling.
Drill hole 22TA-169 in the Taurus East area returned
6.6 m of 22.44 g/t Au from surface
,
including
0.8 m of 174.50 g/t Au
, extending mineralization eastward from the historical Taurus
mine.
All drill holes at the Wings Canyon area (22WC-200 to 22WC-204) encountered multi-metre
intervals of gold mineralization, extending known mineralization beyond the extent of the previous
drilling near surface and at depth. Intercepts include:
23.1 m of 0.92 g/t Au in drill hole 22WC-200
41.2 m of 0.61 g/t Au in drill hole 22WC-201
"We are pleased with the continued success of our exploration program at Cassiar North.
The latest
assay results from Taurus East and Wings Canyon demonstrate the potential to extend mineralization
along established trends into target areas well beyond the footprint of the Taurus resource," stated
Marco Roque, CEO of Cassiar Gold Corp. "As we move forward, we remain committed to building on
these positive results with our 2023 work program, which will advance our understanding of the
property's potential as we identify areas for expansion and exploration."
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
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
Taurus East
22TA-166
93.7
94.7
1.00 m
7.70 g/t Au
103.3
104.5
1.20 m
3.95 g/t Au
185.1
186.0
0.95 m
2.85 g/t Au
216.5
218.8
2.30 m
1.12 g/t Au
241.9
242.8
0.90 m
2.93 g/t Au
251.4
252.4
0.95 m
1.81 g/t Au
265.6
270.5
4.95 m
0.50 g/t Au
292.4
294.7
2.25 m
1.31 g/t Au
22TA-167
175.6
178.4
2.80 m
11.54 g/t Au
incl.
175.6
176.8
1.15 m
12.65 g/t Au
and
177.8
178.4
0.65 m
27.20 g/t Au
226.0
239.7
13.70 m
2.24 g/t Au
incl.
237.0
239.7
2.70 m
7.21 g/t Au
incl.
238.7
239.7
1.00 m
12.70 g/t Au
22TA-169
4.5
11.1
6.60 m
22.44 g/t Au
incl.
10.3
11.1
0.80 m
174.50 g/t Au
196.4
197.6
1.17 m
8.69 g/t Au
incl.
197.0
197.6
0.64 m
13.70 g/t Au
Wings Canyon
22WC-200
8.4
20.8
12.45 m
0.51 g/t Au
70.0
93.1
23.08 m
0.92 g/t Au
22WC-201
10.7
13.0
2.30 m
1.04 g/t Au
31.4
34.4
2.96 m
0.59 g/t Au
22WC-202
18.0
59.2
41.20 m
0.61 g/t Au
72.9
75.8
2.90 m
0.58 g/t Au
78.5
81.7
3.20 m
0.68 g/t Au
90.8
98.1
7.34 m
0.52 g/t Au
166.5
172.4
5.91 m
0.89 g/t Au
22WC-203
7.0
15.1
8.05 m
0.89 g/t Au
173.5
182.5
8.91 m
0.62 g/t Au
22WC-204
12.0
14.7
2.70 m
0.76 g/t Au
131.3
134.7
3.37 m
0.71 g/t Au
141.2
143.0
1.73 m
1.48 g/t Au
* Drill core lengths are reported here. True widths for these intervals have not been established
2022 Drilling at the Taurus Deposit and Wings Canyon - Cassiar North Drill Program
The results reported in this news release are from eight drill holes totaling 2,447 m from the Taurus East
area of the deposit and outlying Wings Canyon target (Figure 1). The Wings Canyon target area
straddles a stream canyon 500 m southeast of the Taurus resource and exhibits an extensive area of
exposed quartz vein development and alteration with limited drilling along strike lengths of known
veining.
Geologically, the reported drill holes were designed to evaluate the potential presence of mineralization
styles common at the Cassiar North project area. These include east-west trending sheeted vein sets
and minor shear zones with coalescing pyrite envelopes that together have potential to form bulk-
tonnage style mineralization, as well as north-northwest trending, east-dipping disseminated pyrite
mineralization along the Decline Fault corridor.
Drilling at Taurus East and Wings Canyon encountered geology that demonstrates similar styles of
veining, alteration, and sulphide mineralization to the Taurus resource area. These drill holes continue to
advance recognition of the potential influence of a larger system than presently defined at Cassiar North
and highlight additional targeting opportunities along and proximal to prospective structural corridors.
Figure 1. Cassiar North 2022 drill campaign drill hole locations plan map of infill and expansion
drilling at the Taurus deposit (blue squares). 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) represents upside for expansion of the deposit and
is not included in the 2022 Taurus resource model (pink).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/157066_6d9c9e2bc4e0babf_002full.jpg
Taurus East - Drill Holes 22TA-167, 22TA-169, and 22TA-166
These three drill holes represent a second phase of the 2022 drilling campaign in the Taurus East area
and were designed to follow up on mineralized intercepts encountered earlier in the program (see
News
Release, September 13, 2022)
, as well as test for potential for known mineralization to extend further to
the east along a prospective east-west trending corridor beyond the historical Taurus underground mine.
Mineralization in this area remains open in all directions including along the Decline Fault, as well as
toward the Taurus resource to the west and the Snow Creek regional prospect to the east. Mineralization
at the Taurus East area, centered at the historical Taurus Mine, was excluded from the 2022 Taurus
resource as historical stopes could not accurately be recreated in 3D due to survey constraints and
represents an area for potential future resource growth.
Drill hole 22TA-167:
Drill hole 22TA-167 (southwest oriented) was designed to follow up 40 m below a previous intercept
encountered in drill hole 22TA-142 of 22.2 m of 1.50 g/t Au. This intercept is adjacent to the
mineralization-controlling Decline Fault near the historical Taurus Mine, 60 m beyond the 2022 Taurus
East mineralization model and 700 m east of the Taurus resource. Results (Figure 2, 3; Table 1) include:
13.7 m of 2.24 g/t Au
from 226.0 m downhole, including:
2.7 m of
7.21 g/t Au,
including
1.0 m of
12.7 g/t Au
The continued expansion of this mineralized corridor along the Decline Fault highlights the exploration
potential along extensions of north-trending structures in the deposit area.
The mineralization associated
with the Decline Fault forms a parallel trend with a similar structural control to the broad established
mineralized corridor associated with the Taurus West Fault at the western extent of the Taurus resource.
Figure 2. Vertical section showing 22TA-167 at the Taurus Deposit, looking northwest with the
2022 Taurus East mineralization model for reference; the model was not included in the 2022
resource estimate
.
Drill hole 22TA-167 steps out 60 m beyond the extent of the mineralization model
and 40m below previously reported drill hole 22TA-142, continuing to expand mineralization proximal to
the Decline Fault corridor. Section width +/- 25 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/157066_6d9c9e2bc4e0babf_003full.jpg
Drill hole 22TA-169:
This northerly-oriented drill hole was designed to evaluate the potential down dip extension of
mineralization encountered in historical drilling at the sparsely tested eastern extent of the target area.
Results returned multiple intervals of gold mineralization, which include (Figure 3, Table 1):
6.6 m at 22.44 g/t Au from surface, including 0.8 m of 174.50 g/t Au, east of the historical Taurus
mine, and
1.2 m of 8.69 g/t Au, including 0.6 m of 13.7 g/t Au, 60 m below a narrow, mineralized intercept in
historical drilling.
Figure 3. Plan map of 2022 drill holes reported in this release from Taurus East and Wings
Canyon. 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/2958/157066_6d9c9e2bc4e0babf_004full.jpg
Drill hole 22TA-166:
Drill hole 22TA-166 (north-northwest oriented) was designed to test for the potential eastern extension of
the historical Taurus mine vein system 75 m beyond previous drilling.
Results returned several discrete
mineralized intervals (Figure 3, Table 1). The deposit remains open along this eastward trend toward a
placer deposit and mineralized showings of the Snow Creek prospect 1 kilometre to the east (Figure 4)
with outcropping veining, alteration, and sulphide mineralization similar to that observed at Taurus.
There
has been no drilling in this intervening area, which has limited outcrop exposure.
Figure 4. Plan map of 2022 drill holes reported in this release from Taurus East and Wings
Canyon relative to the footprint of the Taurus inferred mineral resource and the Snow Creek
regional prospect at Cassiar North.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/157066_6d9c9e2bc4e0babf_005full.jpg
Wings Canyon - Drill holes 22WC-200 to 22WC-204
Drill holes 22WC-202, 22WC-201, and 22WC-200:
These three north-oriented drill holes were designed to evaluate the potential extension of known
mineralization and sheeted vein sets present in outcrop (Figure 5) and encountered in previous drilling
on the west side of Wings Canyon. Results from the current program include (Figure 3, 6; Table 1):
22WC-202:
41.2 m of 0.61 g/t Au from 18.0 m downhole
, extending mineralization 40 m north of
historical drilling.
22WC-200
:
12.45 m of 0.51 g/t Au from 8.4 m downhole
,
and
23.1 m of 0.92 g/t Au
from 70.0 m
downhole, expanding near-surface mineralization 50m from previous drilling.
See Table 1 for additional results.
Mineralization at the west side of Wings Canyon remains open and there has been limited historical
drilling between Wings Canyon and the Taurus resource area, approximately 500 m to the northwest.
Figure 5: View looking southwest into Wings Canyon, showing the extensive area of quartz
veins and rusty Fe-carbonate-pyrite alteration in mafic volcanic rocks (basalt) that underly this
target area.
Drilling reported here lies outside of, but near the canyon, both to the east and
west.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/157066_6d9c9e2bc4e0babf_006full.jpg
Figure 6. Vertical section showing 22WC-200 and 22WC-202 at the Wings Canyon target area,
looking southwest with the 2022
.
These drill holes expand mineralization at surface and 40 m
northward from historical drilling. Section width +/- 35m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/157066_6d9c9e2bc4e0babf_007full.jpg
Drill holes 22WC-203 and 22WC-204:
Drill hole 22WC-203 (northwest oriented) and 22WC-204 (north oriented) were designed to evaluate the
potential extension of gold mineralization and veining on the sparsely drill tested east side of Wings
Canyon in the hanging wall of the Decline Fault. On the east side of Wings Canyon, mineralization
remains open to the east, south and northeast. Between Snow Creek and Wings Canyon, there is
minimal historic drilling, but mapping has identified areas of alteration and veining in surface outcrops.
This area is a target for future exploration work.
Both drill holes on the east side of Wings Canyon encountered multi-metre intercepts at grades
comparable to areas within the Taurus deposit including 8.1 m at 0.89 g/t Au from 7.0 m downhole and
8.9 m of 0.62 g/t Au from 173.5 m downhole in 22WC-203. This drill hole identified the extension of near-
surface mineralization 170 m southeast of historical drilling and 50 m southeast of previously intersected
mineralization along the Decline Fault at depth. See Figure 3, Table 1 for additional results.
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
(2017, Cowley
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
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, NI 43-101 Report titled
"National Instrument 43-101 Technical Report on the
Cassiar Gold Property"
by Zelligan, P.Geo, Moors, P.Geo, Jolette, P.Geo.
2
Cowley, 2017, NI 43-101 Technical Report on the Cassiar Gold Property, British Columbia, for China
Minerals Mining Corp, June 26, 2017, revised Oct 2, 2017.