Cassiar Gold Intersects 46.5 m of 1.12 g/t Au, 119.0 m of 0.72 g/t Au and 150.7 m of 0.65 g/t Au from Bulk-Tonnage Taurus Resource at Cassiar North
Cassiar Gold Intersects 46.5 m of 1.12 g/t Au,
119.0 m of 0.72 g/t Au and 150.7 m of 0.65 g/t
Au from Bulk-Tonnage Taurus Resource at
Cassiar North
Calgary, Alberta--(Newsfile Corp. - January 12, 2022) -
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX:
CGLCF)
(the "Company") is pleased to announce assay results from the final three diamond drill holes
of its 2021 drill program at the Taurus Deposit ("Taurus") located in the Cassiar North area of the
Company's flagship Cassiar Gold Property in northern British Columbia, Canada. Taurus is host to a
near-surface, bulk-tonnage Inferred gold resource of one million ounces grading 1.43 g/t Au
[1]
. All three
holes returned substantial intervals of gold mineralization from surface in the southwestern portion of the
deposit, including a step-out drill hole located over 100 m from the resource model which significantly
expands the deposit footprint and further indicates that mineralization is open to the south. The Company
will host an investor webinar to discuss the full program results on Tuesday, January 18
th
, at 12:00 pm
EST (more details below).
Highlights:
Drillhole 21TA-139, a step-out hole located 100 m south of the resource model, intersected
150.7
m of 0.65 g/t Au from 11.0 m downhole, including
5.6 m of 2.47 g/t
Au and 9.3 m of 1.40 g/t
Au.
Drillhole 21TA-137 intersected
119.0 m of 0.72 g/t Au from 21.3 m downhole, including 4.8 m
of 3.71 g/t Au.
Drillhole 21TA-138 returned
46.5 m of 1.12 g/t Au from 12.7 m downhole, including 0.69 m of
18.80 g/t Au.
"These promising results cap off a drill campaign that has delivered exceptional intercepts in nearly
every hole drilled across the Taurus Deposit," stated Marco Roque, President and CEO of Cassiar
Gold. "We are thrilled to hit such an extensive interval of gold mineralization right from surface in a 100 m
step-out hole which opens the resource for further expansion to the south and we are eager to return with
a larger drill campaign in 2022. We also look forward to the timely reporting of results from 13 holes at
Cassiar South where exploration has been aimed at testing multiple high-grade gold vein targets."
"The 2021 Taurus Drill program continues to indicate that much of the deposit is open beyond the limits
of historical drilling that were previously confined by claim boundaries held by different owners.
With the
district now consolidated under Cassiar Gold's ownership, these limitations have been removed," stated
David Rhys, Senior Technical Advisor for Cassiar Gold. "Building upon the success of the 2021
program, the Company plans to take a more aggressive approach in exploring the Taurus deposit in
2022. This will include stepping out well beyond the existing resource and defining higher grade
corridors within the known areas of the deposit to upgrade the existing resource base, as has been
successfully achieved with our 2021 drill results."
Investor Webinar Details
The Company will host an investor webinar to discuss the significance of the 2021 Cassiar North drill
results and their impact on future exploration work at the Taurus deposit. Both Mr. Roque and Mr. Rhys
will present during the webinar and the presentation will be followed by a Q&A session. Details are
below.
Date
:
Tuesday, January 18, 2022
Time: 9:00 am PST/10:00 am MST/12:00 pm EST
Registration Link:
https://us06web.zoom.us/webinar/register/WN_cJf7QFQ7QaupXySxP3BAZA
A replay will be available at
https://www.youtube.com/channel/UCsg_O12Rc85xJytdSmvtCsQ
within 24
hours of the live webinar. Please submit any questions for the Q&A session to
before or during the event.
2021 Cassiar North Drill Program at Taurus Deposit
Completed between early June and mid-August 2021, the Cassiar North Drill Program focused on the
Taurus Deposit and consisted of 15 drill holes totaling 4,098 m targeting the 88 Hill, Gap, northwest,
west and southwest areas of the deposit (Figure 1). The program was designed to define and confirm
higher-grade mineralized areas where historical drilling was widely spaced (~100 m apart), collect
additional structural data for use in updated modeling work, and to test the potential for expansion of the
deposit footprint. All objectives were successfully achieved with most infill drill holes intersecting higher-
than-resource-grade mineralization within the resource grade shell and expansionary drill holes
confirming the potential for the resource to expand both laterally and at depth.
Figure 1. Cassiar North 2021 Drill Campaign Drillhole Locations Map. Historical production
figures from Taurus MINFILE Production Detail Report, file number 104P 012, BC Geological
Survey.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2958/109764_c4f0973434d5aa2b_002full.jpg
The 2021 drill campaign in the southwestern portion of the Taurus resource (Figure 2) was planned to
confirm historic gold grades and mineralization shapes, investigate potential structural controls including
the Taurus West fault, and providing oriented structural data for interpretation and modeling work that will
be the foundation for the Company's 2022 exploration program.
Results are discussed below:
21TA-137 was a north-directed drillhole that targeted a >100 m open area between historical
drillholes along the Taurus West Fault. The drillhole intersected 119.0 m of 0.72 g/t Au starting from
21.3 m downhole and included 4.8 m of 3.71 g/t Au. The distribution of gold mineralization both
confirms and expands upon the 2019 resource model shape in this area (Figures 2, 3).
21TA-138 was a north-directed drillhole designed to test a 90 m gap between historical drillholes
along the Taurus West Fault. Results returned 46.5 m of 1.12 g/t Au from 12.7 m downhole and
included 0.7 m of 18.80 g/t Au. Multiple broad mineralized intercepts confirmed the continuity of
mineralization within the resource shape and identified potential areas for expansion (Figures 2,
3).
21TA-139 was a northwest-directed step-out drillhole intended to test mineralization along the
north-trending Taurus West Fault corridor while also testing the east-west mineralization trend that
is dominant in much of the Taurus deposit. The hole was located 100 m south of the resource
gradeshell and tested a 130 m gap between historical drillholes (Figures 2, 4). The drillhole
intersected 150.7 m of 0.65 g/t Au from 11.0 m downhole, successfully expanding mineralization to
the south.
Figure 2. Distribution of 2021 drillholes in the Southwest zone of the Taurus deposit, Cassiar
North. Surface projection of 2019 0.5 g/t Au gradeshell is shown for reference (from Zelligan,
2019).
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2958/109764_c4f0973434d5aa2b_003full.jpg
2021 Full Drill Campaign and Assay Results Update
The Company concluded its full 2021 drill campaign covering both the Cassiar North and Cassiar South
project areas on November 1, 2021. A total of 11,289 m of drilling were completed in 34 drill holes
during the program, including 4,098 m in 15 drill holes within or proximal to the Taurus Deposit at
Cassiar North and 7,191 m in 19 holes targeting high-grade vein systems at Cassiar South.
All assay results have now been received from 2021 drilling at Cassiar North and results remain pending
for 13 holes at the Cassiar South project for the East Bain, Cusac, Hot, and Vollaug veins.
Figure 3. Vertical north-south section looking west through drillholes 21TA-137 and 21TA-138.
A sectional view through the 2019 0.5 g/t Au resource gradeshell is shown for reference (from
Zelligan, 2019).
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2958/109764_c4f0973434d5aa2b_004full.jpg
Figure 4. Vertical section through drillhole 21TA-139 at Southwest Taurus, looking west-
southwest. A sectional view through the 2019 0.5 g/t Au resource gradeshell is shown for
reference (from Zelligan, 2019).
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/2958/109764_c4f0973434d5aa2b_005full.jpg
Table 1. Significant results from the southwest zone based on a >0.5 g/t cutoff.
Target Area
Drillhole
From
To
Length*
Grade
Taurus Southwest
21TA-137
21.28
140.31
119.03 m
0.72 g/t Au
incl.
121.18
126.00
4.82 m
3.71 g/t Au
incl.
124.27
124.94
0.67 m
14.30 g/t Au
177.00
186.62
9.62 m
0.59 g/t Au
213.07
217.24
4.17 m
0.69 g/t Au
21TA-138
12.73
59.20
46.47 m
1.12 g/t Au
incl.
17.96
18.65
0.69 m
18.80 g/t Au
81.00
126.23
45.23 m
0.61 g/t Au
incl.
117.00
125.19
8.19 m
1.45 g/t Au
140.08
179.23
39.15 m
0.71 g/t Au
incl.
170.25
171.00
0.75 m
8.21 g/t Au
21TA-139
11.03
161.71
150.68 m
0.65 g/t Au
incl.
44.20
53.51
9.31 m
1.40 g/t Au
and
108.21
113.79
5.58 m
2.47 g/t Au
192.15
207.05
14.90 m
0.81 g/t Au
incl.
200.57
207.05
6.48 m
1.34 g/t Au
304.56
308.70
4.14 m
0.50 g/t Au
* Drill core lengths are reported here. True widths for these intervals have not been established.
Qualified Person
The technical information in this news release has been reviewed and approved by Kaesy Gladwin,
P.Geo., Cassiar Gold Corp.'s Vice President of Exploration, who is a Qualified Person as defined by
National Instrument 43-101.
Quality Assurance (QA) and Quality Control (QC)
The 2021 Cassiar drilling program comprises HQ drill core oriented using the REFLEX ACTIII system.
Drill core samples selected and analyzed are logged and then cut in half using a diamond cutting saw, in
a secure core storage 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 SGS Canada preparation facility in Whitehorse, Yukon, where they are
processed, and then shipped to the SGS Canada analytical facility in Burnaby, 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. SGS Canada 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 1Moz at 1.43 g/t Au (cutoff grade of 0.7 g/t) known as the as the Taurus Deposit
(see National Instrument 43-101 Technical report on the Cassiar Gold property, amended Nov. 12, 2019,
by S. Zelligan, posted to SEDAR); and Cassiar South which hosts numerous gold showings, historical
workings, and exploration prospects over a >15 km long and up to 10 km wide trend. Historical
underground mines in the Cassiar South area have yielded over 300,000 oz of Au at grades of between
10 and 25 g/t Au (BC Minfile), underscoring the high potential for further discovery and expansion of
bonanza-grade orogenic gold veins.
The Cassiar Gold Property is highly accessible by road and has a fully permitted 300 tpd mill and tailings
facility, which could provide the potential for near-term production if new and expanded high-grade
resources are defined in the areas of active mining leases that cover some of the most prospective parts
of the South Cassiar area.
Cassiar Gold acknowledges, respects, and supports the rights of Traditional First Nations in the lands
and communities where we operate.
CONTACT INFORMATION
Cassiar Gold Corp.
Shirley Anthony
VP Investor Relations & Communications
1-778-999-2771
Forward-Looking Statements
This press release may contain forward-looking statements, including those describing Cassiar Gold
Corp.'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 Cassiar Gold Corp. and its management. In
particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the
following: regulatory conditions and the Company's ability to receive permits and regulatory approvals,
mineral resource estimates and the assumptions underlying such estimates, and economic factors,
business and operations strategies. These forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause actual results, performance or achievements
expressed or implied by such forward-looking statements to be materially different from expectations.
Although management of the Company has attempted to identify important factors that could cause
actual results to differ, there is no assurance that these forward-looking statements will prove accurate,
or that actual results will not vary materially from such statements. These statements speak only as of the
date of this release, and 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.
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 September 10, 2019, NI43-101 Report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property" by Scott Zelligan,
P.Geo.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/109764