Cassiar Gold Expands Mineralization at the Taurus Deposit Near-Surface and at Depth Intersecting 98.0m of 1.28 g/t Au and 70.7m of 0.76 g/t Au
Cassiar Gold Expands Mineralization at the
Taurus Deposit Near-Surface and at Depth
Intersecting 98.0m of 1.28 g/t Au and 70.7m of
0.76 g/t Au
Calgary, Alberta--(Newsfile Corp. - January 17, 2023) -
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX:
CGLCF)
(the "Company") is pleased to announce assay results from an additional seven diamond drill
holes from the 2022 exploration program completed at the Taurus Deposit, located in the Cassiar North
area of the Company's flagship Cassiar Gold Property in Northern British Columbia, Canada. The
Company's 2022 program included 70 drill holes and over 23,000 m of diamond drilling that began in
June and ended in October 2022. The exploration objective focused on high-priority areas of the Taurus
Deposit, important vein prospects at Cassiar South and other brownfields opportunities on the property.
Cassiar Gold continues to concentrate its efforts on advancing exploration of the project through the
expansion and definition of known areas of mineralization as well as the evaluation for the potential of
new discoveries on its large land position which contains numerous gold prospects that have had limited
historical testing. The results reported here further outline additional areas of mineralization that expand
the deposit footprint beyond the limits of the 2022 Inferred resource estimate
1
and further define
mineralization continuity in the west and northwest areas of the Taurus Deposit.
The deposit remains
open in all lateral directions as well as at depth.
Highlights from the Taurus West and Taurus Northwest areas:
Taurus West drill hole 22TA-176 intersected
98.00 m of 1.28 g/t Au from 10.7 m downhole
,
including 4.10 m grading 12.02 g/t Au
, and expanding mineralization within a large under-
explored area between resource blocks within the 2022 inferred mineral resource open pit shell.
Drill hole 22TA-178 in the Taurus West area returned multiple intervals of gold mineralization,
extending mineralization between resource blocks. Intercepts include:
52.0 m of 0.60 g/t Au
from 51.4 m downhole, and
70.7 m of 0.76 g/t Au
from 116.0 m downhole, including 7.6 m of 2.02 g/t Au
All four drill holes completed at Taurus Northwest area (holes 22TA-154, 22TA-151, 22TA-156 and
22TA-157) encountered multi-metre intercepts above the resource cut-off grade.
These include:
11.4 m grading 2.64 g/t Au
, which extends the distribution of mineralization 20 m beyond
the extent of the 2022 resource open pit shell and 40m beyond the extent of the block model.
A high-grade interval of
12.86 g/t Au over 2.61 m
in drill hole 22TA-156, which is open along the
northern margin of the known footprint of the deposit.
"Drilling at the Taurus Deposit continues to yield very encouraging results, with Taurus West emerging as
a more continuous trend of near-surface mineralization than previously modeled.
We are seeing
substantial thicknesses and grades well above the cut-off of the 2022 Taurus Deposit resource
estimate," stated Marco Roque, CEO of Cassiar Gold Corp. "We believe that Taurus West has the
potential to be a major contributor to Cassiar Gold Corp's growth and success in the coming years."
2022 Drilling at the Taurus Deposit - Cassiar North Drill Program
The Taurus Deposit hosts a substantial near-surface, bulk-tonnage inferred gold resource of 1.4 million
ounces grading 1.14 g/t Au
2
.
Results from 50 drill holes which cumulatively total 17,140 metres of drilling
from the 2022 program are yet to be disclosed and will be made public in future updates. The results
reported in this news release are from seven drill holes totaling 1,962 m from the Taurus West and
Northwest area of the deposit (Figure 1).
They were designed to test the potential for extending known
mineralization through step-out drilling and to evaluate the continuity of mineralization between resource
blocks. Geologically, the holes were designed to target the different mineralization styles which
characterize the Taurus Deposit.
These include east-west trending sheeted vein sets, minor shear zones
forming bulk-tonnage style mineralization in quartz shear and extension veins sets with coalescing pyrite
envelopes, as well as north-northwest trending, east-dipping disseminated pyrite mineralization at depth
along the Taurus West Fault.
The program has continued to increase the confidence in mineralization
distribution within areas of widely spaced historical drilling and collect additional structural data to
enhance the geological model. The deposit remains open in all lateral directions as well as at depth.
Drilling in the Taurus deposit continues to demonstrate consistency of grade and apparent thickness of
near-surface mineralization above the inferred mineral resource 0.5 g/t Au cut-off, including over broad
intervals proximal to the Taurus West Fault.
These results highlight the potential to identify additional
higher-grade corridors within the 2022 resource open pit shell model. Within broader mineralized
intercepts, narrower higher-grade sections (up to >10.0 g/t) are commonly encountered in the Taurus
drilling, often associated with quartz veins with or without visible gold, providing the potential for
establishing smaller internal zones of high-grade mineralization.
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
was not included in the 2022 Taurus resource model (pink).
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2958/151512_436055d694c66893_002full.jpg
Taurus West - Drill Holes 22TA-176, 22TA-178, and 22TA-165
Drill hole 22TA-176:
Drill hole 22TA-176 (northwest oriented) was designed to evaluate the continuity of a south-plunging
mineralized trend along the Taurus West Fault and to increase near-surface mineralization in an area
that had not been previously explored. This drill hole was also extended below the Taurus West Fault to
assess potential for mineralization in its footwall. Multiple intercepts were returned (Figure 2, 3; Table 1),
that include:
98.0 m of 1.28 g/t Au from 10.7 m downhole in near-surface mineralization beyond the boundary of
the 2022 resource block model, confirming continuity of mineralization within an 80-200m area of
limited exploration. This interval includes a high-grade subinterval of 4.10 m grading 12.02 g/t Au,
from 93.0 m downhole and is characterized by ankerite-sericite altered basalt with 10% quartz
veining and 5% coarse grained pyritohedrons.
9.5 m of 0.54 g/t Au from 134.0 m downhole, occurring in the hangingwall of the Taurus West Fault.
Figure 2. Vertical section showing 22TA-176 at the Taurus Deposit, looking southwest with the
2022 Taurus Resource Block Model for reference
.
The drill hole infills a large gap in the block model and suggests
mineralization continuity between the earlier widely spaced drill holes.
Section width +- 25m.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2958/151512_436055d694c66893_003full.jpg
Drill hole 22TA-178:
This south-southwest oriented drill hole was designed to test the continuity of mineralization along the
interpreted Taurus West Fault. The drill hole tested an area which was 65 m away from the closest
resource block and 130 m from historical drilling. A shallow, broad mineralized intercept was
encountered 170 m and 210 m north of intercepts encountered in 2021 drill holes 21TA-138 and 21TA-
137, respectively (see
News Release, January 12, 2022
).
Results include (Figure 2; Table 1):
52.0 m of 0.60 g/t Au from 51.4 m downhole, infilling an area 65 m away from the closest resource
block within the 2022 resource open pit shell. This includes a high-grade interval of 0.69 m grading
14.85 g/t Au from 93.0 m.
11.4 m of 0.73 g/t Au from 19.2 m downhole and 70.7 m of 0.76 g/t Au from 116.0 m downhole.
These results confirm that the distribution of mineralization is consistent with the 2022 block model,
both near the surface and at moderate depths, and that mineralization extends beyond the
boundaries of the block model.
Figure 3. Plan map of 2022 drill holes reported in this release from the Taurus Deposit. The
vertical projection of the mineralized intercepts which are reported here are included for
reference.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2958/151512_436055d694c66893_004full.jpg
Drill hole 22TA-165:
Drill hole 22TA-165 (south-southwest oriented) was designed to test the area between the margin of the
resource block model and the Taurus West Fault (Figure 3). The drill hole was extended to evaluate the
geology in the footwall of the Taurus West Fault. Drilling successfully expanded mineralization with
grades above that of the resource estimate in an intercept of 21.1 m grading 1.00 g/t Au (Table 1), which
extends mineralization 15 m beyond the limits of the resource pit shell in the hangingwall of the Taurus
West Fault.
Drill holes in much of the Taurus West area remain widely spaced and there is future potential to further
expand the resource base internal to the deposit area by infilling gaps in the block model where drill
holes were too far apart to establish continuity, as is illustrated by drill hole 22TA-176 (Figure 2).
Taurus Northwest - Drill holes 22TA-154, 22TA-151, 22TA-156 and 22TA-157
Drill hole 22TA-154:
Drill hole 22TA-154 (south-southwest oriented) was designed to evaluate the down-dip extension of a
steeply dipping east-west mineralized trend near the Highway target (Figure 1,3) and to test for an
extension of the interpreted, steeply north-dipping Highway Fault intersected in 2021 drill holes in the
Taurus Northwest area (Figure 3). The drill hole encountered a ductile shear/fault in altered basalt with
minor quartz veining forming a discrete planar structure marking the boundary of gold and sulphide
mineralization in the hangingwall along the interpreted Highway Fault. Results returned include:
11.4 m at 2.64 g/t Au from 201.3m downhole, including 4.3m at 3.82 g/t Au, extending
mineralization 40m beyond the northern limits of the 2022 resource block model and 20m beyond
the open pit shell model.
This drill hole underscores the exploration potential along open extensions of mineralized northeast-
trending structures outside the known footprint of the deposit (Figure 3).
Drill holes 22TA-151, 22TA-156 and 22TA-157:
All three of these drill holes intersected mineralization at grades higher than the 0.5 g/t Au cutoff grade of
the 2022 inferred mineral resource model (Table 1, Figure 3), including:
Drill hole 22TA-151 intersected 20.2 m at 0.62 g/t Au from 44.6m downhole.
Drill hole 22TA-156 intersected 12.86 g/t Au over 2.6 m from 170.4 m drill depth, hosted by altered
and pyrite-mineralized basalt with quartz veining and visible gold (Figure 4), just outside the
northern limits of the resource model in an area of little previous drilling.
Figure 4. Visible gold in drill hole 22TA-156, observed in a quartz vein hosted in ankerite-
sericite altered and pyrite-mineralized basalt (172.0 m drill depth).
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/2958/151512_436055d694c66893_005full.jpg
These results provide further validation of the continuity and expansion potential of mineralization within
in the Company's 2022 resource estimate and highlight the extension of mineralization outside the pit
shell.
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
Drill hole
From
To
Length*
Grade
Taurus West
22TA-165
71.7
92.8
21.07 m
1.00 g/t Au
22TA-176
10.7
108.7
98.00 m
1.28 g/t Au
incl.
41.7
45.8
4.10 m
12.02 g/t Au
with
43.8
45.1
1.30 m
25.87 g/t Au
incl.
65.0
65.6
0.55 m
17.80 g/t Au
134.0
143.5
9.45 m
0.54 g/t Au
22TA-178
19.2
30.6
11.40 m
0.73 g/t Au
51.4
103.4
52.00 m
0.60 g/t Au
incl.
93.0
93.7
0.69 m
14.85 g/t Au
116.0
186.6
70.65 m
0.76 g/t Au
incl.
153.5
161.1
7.60 m
2.02 g/t Au
212.6
219.1
6.50 m
0.70 g/t Au
Taurus NW
22TA-151
44.6
64.8
20.15 m
0.62 g/t Au
22TA-154
201.3
212.7
11.35 m
2.64 g/t Au
incl.
208.1
212.3
4.29 m
3.82 g/t Au
22TA-156
170.4
173.0
2.61 m
12.86 g/t Au
incl.
171.8
172.4
0.58 m
44.10 g/t Au
22TA-157
109.6
111.8
2.13 m
0.87 g/t Au
* Drill core lengths are reported here. True widths for these intervals have not been established
Correction & Clarification to News Release issued May 19, 2022
The Company would like to correct and clarify the news release entitled "
Cassiar Gold reports remaining
2021 Cassiar South drill results; expands known high-grade mineralization at Bain Vein"
issued May 19,
2022."
The Company identified a data entry error within a historical database where individual assay results
relevant to the East Bain Extension target at Cassiar South were recorded as 'parts per million' (ppm)
rather than 'parts per billion' (ppb) and a 0.8 m error in reported core length was noted for one record.
Correct values from Drill hole C91-376 are 0.68 g/t Au from 171.5 m to 176.8 m; and 0.29 g/t Au from
190.8 m to 191.2 m. The Correct value from Drill hole C91-378 is 0.04 g/t Au from 99.9 m to 101.3 m.
The Company has initiated a systematic validation program pertaining to historical data entry and has
determined that unit errors were isolated. This correction does not change any other information
reported in the Press Release or impact any of the disclosure in the Company's filed NI 43-101
compliant mineral resource estimate for the Cassiar Gold Project.
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
3
), 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, 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
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.
3
Cowley, 2017, NI43101 Technical Report on the Cassiar Gold Property, British Columbia, for China Minerals Mining Corp, June 26, 2017,
revised Oct 2, 2017
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/151512