Cassiar Gold Expands Near-Surface Gold Mineralization at Taurus Southwest Intersecting 139.4 m Of 0.61 g/t Au
Cassiar Gold Expands Near-Surface Gold
Mineralization at Taurus Southwest
Intersecting 139.4 m Of 0.61 g/t Au
Calgary, Alberta--(Newsfile Corp. - March 16, 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 at and near the Taurus deposit, located on
Company's flagship Cassiar Gold Property. Recent drill results support the approach of further
exploration drilling at the Taurus Southwest area where significant gold mineralization continues to be
encountered.
Highlights from the Taurus Southwest area:
Drill hole 22TA-172 intersected
139.4 m of 0.61 g/t Au
, from 28.0 m downhole, extending near-
surface mineralization 60 m beyond the extent of the Taurus resource block model.
Drill hole 22TA-175A returned
50.1 m of 0.61 g/t Au
extending mineralization at depth along the
Taurus West Fault, 40 m beyond the extent of the resource block model and pit shell model.
Mineralization remains open in this and other parts of the Taurus deposit.
"We are very pleased with these latest results from Taurus Southwest which confirm the high potential for
expansion of mineralization associated with the Taurus deposit," stated Marco Roque, CEO of Cassiar
Gold Corp. "We look forward to continuing to advance our exploration efforts at the Cassiar Gold
property in the coming months."
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
Taurus Southwest
22TA-162
no significant intercepts
22TA-163
16.1
19.7
3.65 m
1.01 g/t Au
284.1
307.9
23.76 m
0.71 g/t Au
335.6
343.0
7.38 m
0.62 g/t Au
22TA-172
28.0
167.4
139.35 m
0.61 g/t Au
incl.
48.7
64.1
15.35 m
1.31 g/t Au
with
61.3
61.9
0.65 m
6.28 g/t Au
incl.
140.9
141.4
0.55 m
5.17 g/t Au
275.0
289.1
14.05 m
0.52 g/t Au
327.1
328.9
1.80 m
3.71 g/t Au
22TA-175
abandoned
22TA-175A
77.9
84.3
6.45 m
0.72 g/t Au
98.5
114.0
15.50 m
0.51 g/t Au
189.0
239.0
50.05 m
0.61 g/t Au
incl.
224.7
233.2
8.45 m
1.54 g/t Au
333.8
340.0
6.18 m
0.88 g/t Au
22TA-177
106.9
109.6
2.73 m
0.82 g/t Au
209.0
211.3
2.29 m
1.11 g/t Au
236.6
241.7
5.09 m
0.67 g/t Au
257.0
265.4
8.38 m
0.54 g/t Au
22TA-179
35.1
45.5
10.40 m
0.95 g/t Au
161.1
179.6
18.50 m
0.51 g/t Au
incl.
167.6
168.1
0.55 m
6.48 g/t Au
214.8
220.7
5.95 m
0.54 g/t Au
240.0
246.5
6.50 m
1.86 g/t Au
incl.
245.5
246.5
1.00 m
4.31 g/t Au
275.2
280.0
4.80 m
1.22 g/t Au
22TA-181
71.6
74.0
2.40 m
0.52 g/t Au
198.6
201.7
3.15 m
1.03 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 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 in this news release are from
eight holes totaling 2,642 m from the Taurus Southwest area of the Taurus deposit (Figure 1). This
drilling was designed to outline lateral and down-dip extensions of mineralization at the southwest extent
of the Taurus deposit and to supplement drilling completed earlier in the 2022 program.
During the 2022 program, Cassiar Gold conducted over 23,000 meters of diamond drilling from 70 drill
holes from June to October. The exploration efforts were concentrated on strategic areas of the Taurus
Deposit, key vein prospects at Cassiar South, and other brownfields opportunities on the property.
Results from 29 drill holes which cumulatively total 10,225 metres of drilling from the 2022 program are
yet to be disclosed as the company continues to await the return of additional assay results.
Geologically, the holes were designed to evaluate the different styles of mineralization which
characterize the Taurus Deposit. These include bulk-tonnage style mineralization that consists of east-
west trending sheeted vein sets and minor shear zones with coalescing pyrite envelopes, as well as
north-northwest trending, east-dipping disseminated pyrite mineralization along the Taurus West Fault
corridor.
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 release
contained within the blue square (shown in detail in Figure 4). 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 this graphic, please visit:
https://images.newsfilecorp.com/files/2958/158670_6f0aa00414007b8c_002full.jpg
.
Drilling at the Taurus deposit continues to demonstrate consistency of grade and apparent thickness of
mineralization above the inferred mineral resource 0.5 g/t Au cut-off, both near-surface and at depth,
including over broad intervals proximal to the Taurus West Fault. These results support the potential for
the extension of this mineralized corridor to continue along strike to the south where mineralization
remains open laterally as well as at depth.
Taurus Southwest Drill Holes
These eight drill holes represent a second phase of the 2022 drilling campaign at the southwestern part
of the Taurus deposit and were designed to supplement intercepts encountered earlier in the program
(see
News Release, January 23, 2023
)
.
Drill hole 22TA-172:
Drill hole 22TA-172 (north-northwest oriented) was designed to test for the potential extension of near-
surface mineralization beyond the extent of the 2022 inferred resource block model and evaluate an
under-explored area between previous drill holes. Results (Figure 2, 3; Table 1) include:
139.4 m of 0.61 g/t Au
from 28.0 m downhole, including:
15.4 m of
1.31 g/t Au,
with 0.7 m of 6.28 g/t Au,
0.6 m of
5.17 g/t Au
14.1 m of 0.52 g/t Au from 275.0 m downhole
The broad, shallow intercept extends mineralization 60 m south-southeast of the resource block model
within a 125 m gap in near-surface drill data between 21TA-137 and 21TA-139 from the 2021 drill
program (see
News Release, January 12, 2022
). See Table 1 and Figures 2, 4 for additional intercepts.
Figure 2. Vertical section showing 22TA-172 at the Taurus Deposit, looking to the southwest
.
Assay results in grey are from previously reported drill holes. Assay results in red are reported in this
news release. Section width +/- 25m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/158670_6f0aa00414007b8c_003full.jpg
.
Drill holes 22TA-175/175A:
Northwest-oriented drill hole 22TA-175 was designed to test for a potential southeastward extension of
the broad mineralized corridor associated with the Taurus West Fault beyond the extent of historical
drilling.
Drill hole 22TA-175 was abandoned after 21 m for an alignment correction, then was re-collared and
drilled to completion as drill hole 22TA-175A.
Results returned multiple intervals of gold mineralization,
which include:
15.5 m of 0.51 g/t Au from 98.5 m downhole, 90 m beyond the extent of the resource block model,
and
50.1 m of 0.61 g/t Au
from 189.0 m downhole, including 8.5 m of 1.54 g/t Au, extending
mineralization 40 m beyond the extent of the resource block model at depth along the Taurus West
Fault.
See Table 1 and Figures 3, 4 for additional intercepts.
Figure 3. Vertical section showing 22TA-175A at the Taurus Southwest target area, looking to
the southwest
. Section width +/- 25m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/158670_6f0aa00414007b8c_004full.jpg
.
Figure 4. 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/2958/158670_6f0aa00414007b8c_005full.jpg
.
Drill holes 22TA-163 and 22TA-162:
Drill holes 22TA-163 (northwest-oriented) and 22TA-162 (north-oriented) were designed to test for
potential extensions of known mineralization down-dip along the Taurus West Fault corridor, as well as
down dip of subvertical to steeply dipping sheeted east-west trending vein sets, respectively.
Results include:
23.8 m of 0.71 g/t Au
from 284.1 m downhole in drill hole 22TA-163, extending mineralization 90
m southeast beyond the extent of the resource pit shell boundary, and 45 m east of an intercept
returned in the hanging wall of the Taurus West Fault in 21TA-128 from the 2021 program (see
News Release, January 6, 2022
). See Table 1, Figure 4 for additional results.
No significant values were returned in drill hole 22TA-162.
Drill holes 22TA-179, 22TA-177, and 22TA-181
These three drill holes were designed to test for southeast (22TA-179, 22TA-177) and southward (22TA-
181) extensions of known mineralization proximal to the Taurus West Fault corridor both at near-surface
and moderate depths.
Results returned:
22TA-179: 10.4 m of 0.95 g/t Au from 35.1 m downhole, and 18.5 m of 0.51 g/t Au from 161.1 m
downhole, including 0.6 m of 6.48 g/t Au, as well as several additional discrete mineralized
intervals as shown in Figure 4 and Table 1.
Mineralization at Taurus remains open at the southwest area of the deposit, both near surface and at
depth along the Taurus West Fault. The progressive expansion of the Taurus West Fault mineralized
corridor highlights the exploration potential along open extensions of this mineralization-controlling
northwest-trending structure as well as the potential to continue to expand near-surface mineralization at
Taurus.
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
2
Cowley, 2017, NI43101 Technical Report on the Cassiar Gold Property, British Columbia, for China Minerals Mining Corp, June 26, 2017, revised
Oct 2, 2017.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/158670