Cassiar Gold Intersects 95.3 m of 0.90 g/t Au at Newcoast Regional Prospect and Identifies New Gold-Bearing Quartz Veins at Lucky
Cassiar Gold Intersects 95.3 m of 0.90 g/t Au
at Newcoast Regional Prospect and Identifies
New Gold-Bearing Quartz Veins at Lucky
Calgary, Alberta--(Newsfile Corp. - January 18, 2024) -
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX:
CGLCF)
(the "Company") is pleased to announce results from an additional eight diamond drill holes -
totaling 2,812 m - from the 2023 exploration program at the Cassiar Gold Project, located in northern
British Columbia.
These results from new regional drilling highlight the additional targets on the property
outside of the main deposits, and have identified new gold-bearing vein sets.
The Cassiar Gold Property hosts several regional prospects with potential to host Taurus-style
mineralization in outlying areas to the Taurus bulk-tonnage Inferred gold resource of 1.4 million ounces
grading 1.14 grams per tonne (g/t) gold (Au)
[1]
. Separate to the results reported here, results remain
pending for six drill holes totaling 1,666 metres (m) of drilling from the 2023 program at the Taurus West
target area.
Highlights:
Results reported here are from the Newcoast prospect, located 2.5 km southeast of the Taurus deposit,
and the Lucky area, located at higher elevation 4 km northwest of the Taurus deposit.
All drill holes at the Newcoast prospect encountered multi-metre intercepts of mineralization above
0.5 g/t Au and successfully expanded a broad, sparsely drill-tested mineralized zone at this target.
Results include:
136.8 m of 0.71 g/t Au
from 222.6 m downhole, including
95.3 m of 0.90 g/t Au,
which
contains internal intercepts of
6.9 m of 1.22 g/t Au,
16.0 m of 1.39 g/t Au,
and
8.4 m of 1.35
g/t Au
in drill hole 23NC-004
67.8 m of 0.60 g/t Au
from 179.4 m downhole, including 1.1 m of
7.86 g/t Au
and 0.8 m of
7.07
g/t Au
in drill hole 23NC-005
Drilling at the Lucky prospect encountered the continuation of a gold-bearing quartz vein identified
at surface during the 2023 field season.
"We are pleased to see that results of our initial regional program reinforce our targeting concepts
across the property." stated Marco Roque, CEO of Cassiar Gold Corp. "Our additional early-stage
targets and potential for new discovery in the under-explored Cassiar district provides notable upside to
our existing resource base."
Figure 1. Cassiar North 2023 drill campaign drill hole locations plan map of regional drill holes
relative to the Taurus deposit, with the location of drill holes reported within this news release
contained within the blue squares (shown in detail in Figures 3,5,6). Drill hole numbers at
Newcoast refer to holes with the prefix "23NC-".
Notes - Historical production figures from Taurus
MINFILE Production Detail Report, file number 104P 012, BC Geological Survey.
To view an enhanced version of this graphic, please visit:
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Newcoast Regional Target at Cassiar North
Newcoast is an area of exploration interest hosting numerous gold-bearing quartz veins and prospects
over 3 km in east-west lateral extent which has been explored previously by limited, widely spaced
drilling. The target area is situated along a 15 km northwest trend of gold deposits and mineralized
occurrences established across the property which contains the principal Taurus and Cassiar South
deposits. The trend is associated with the development of gently dipping stacked shear zones between
basalt units that are host to mineralization.
Mineralization at Newcoast occurs roughly 2.5 km southeast of the Taurus Inferred Mineral Resource and
exhibits similar physical characteristics to that of the Taurus deposit - with outcropping and near surface
narrow sheeted quartz veining, disseminated pyrite, and gold-bearing Fe-carbonate-sericite-quartz-
pyrite alteration (Figure 2). The Newcoast target and Taurus deposit are separated by relatively flat
ground with thin cover, limited outcrop exposure, and very little exploration.
Some intervals at Newcoast
exceeded 5.0 g/t Au in limited historical drilling
[2]
.
Figure 2. Examples of east-west trending sheeted vein sets with gold-bearing pyrite-
mineralized iron carbonate and sericite alteration envelopes observed in outcrop from the
Newcoast target area at Cassiar North.
To view an enhanced version of this graphic, please visit:
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Results
Six drill holes which are reported here, totaling 2,172 m in cumulative length, were drilled at the
Newcoast target area (Figure 1). These were designed to outline gold-bearing quartz vein and alteration
systems in this area that have potential to be amenable to forming bulk-tonnage style mineralization.
Most historical exploration work at Newcoast was designed to target higher grade quartz veins typical of
narrow vein underground mining. The new drilling results from Newcoast confirm the bulk-tonnage
potential, and continued expansion of the target area.
Northwest mineralized trend:
Drill holes 23NC-004, 23NC-005, 23NC-003, and 23NC-001 (northeast oriented) aimed to identify an
extension of a broad mineralized intercept encountered in 2005 in hole 05SV-07
2
along a previously
unrecognized interpreted northwest trending shear structure, where prior historical drill holes had been
oriented to test for east-west trending mineralized features at more shallow depth extents (Figure 1).
Drill holes
23NC-004
and
23NC-005
were designed to test 50 m northwest and 150 m southwest,
respectively, and at greater depths than mineralization encountered in historical drilling. Results include
(Table 1; Figures 3,4,5):
23NC-004
:
136.8 m of 0.71 g/t Au
from 222.6 m downhole, including
95.3 m of 0.90 g/t Au,
which contains internal intercepts of
6.9 m of 1.22 g/t Au, 16.0 m of 1.39 g/t Au, and 8.4 m of
1.35 g/t Au.
23NC-005:
intersected multiple mineralized intervals, returning:
67.8 m of 0.60 g/t Au
from 179.4 m downhole, including 1.1 m of
7.86 g/t Au
, and 0.8 m of
7.07 g/t Au
, and
17.1 m of 0.50 g/t Au from 263.1 m downhole
Drill holes
23NC-003
and
23NC-001
encountered multi-metre intercepts of gold mineralization
above 0.5 g/t Au, which is the cut off grade for the Taurus Inferred Mineral Resource Estimate,
including 14.8 m of 0.82 g/t Au in 23NC-003.
Figure 3. Vertical section showing 23NC-004 at Newcoast regional prospect, looking to the
northwest
. Assay results in red and higher-grade nested intervals in black are reported in this news
release. Section width +/- 25m.
To view an enhanced version of this graphic, please visit:
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Figure 4. Photo of sampled drill core from an extensive interval of sheeted quartz veining,
alteration, sulphide and gold mineralization encountered between 260.7 and 262.4 m in drill
hole 23NC-004 at the Newcoast target
.
To view an enhanced version of this graphic, please visit:
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East-west mineralized trends:
Drill holes
23NC-002
and
23NC-006
were designed to test for the potential extensions of east-west
trending mineralized quartz veins and alteration encountered in historical drilling and trench mapping,
respectively.
23NC-002
(northward oriented) was designed to test for the down dip extension of the 'Oro' vein
identified historical trenching and drilling. The Oro structure is a steeply dipping east-west shear vein that
extends beneath an ultramafic sill which occupies the thrust contact with an overlying argillite cap, and
has been traced over a 230 m strike length, thickening to the west. Associated mineralization occurs in
narrow quartz veins, stringers, and pyritic dolomitized mafic volcanic wall rock. Assays returned multi-
metre intercepts above 0.5g/t Au (Table 1, Figure 5), including 2.9 m of 3.36 g/t Au from 233.0 m
downhole including 1.8 m of 5.30 g/t Au with 0.7 m of 10.15 g/t Au.
23NC-006
(northwest oriented) was designed to test downdip and along strike from gold-bearing east-
west trending quartz veins in pyrite-mineralized and dolomite-sericite-silica altered mafic volcanics
exposed and sampled in 1986 trenching. Drill hole assays returned several multi-metre mineralized
intercepts above 0.5 g/t Au from 36.6 m downhole (Table 1, Figure 5), including 10.9 m of 0.55 g/t Au
from 169.9 m downhole and 8.2 m of 0.95 g/t Au from 271.6 m downhole.
Figure 5. Plan map of 2023 drill holes at Newcoast reported in this news release. The map
location 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/2958/194705_279fb5342426bb10_006full.jpg
Results from this series of holes collectively confirm the potential for broad intervals of mineralization with
strong similarities to the Taurus deposit to occur within the same valley, reinforcing the interpreted
significance of northwest and east-west structural influence on the distribution of mineralization in the
Cassiar North area.
Lucky Regional Target
The Lucky prospect occurs along the northern extent of the 15-km northwest trend of deposits and
prospects identified on the property to-date, sitting four kilometres northwest of the Taurus deposit and
one kilometre higher in elevation above the valley that hosts the resource. Geologically, Lucky provides
an excellent example of the vertical aspects of structural controls on mineralization at the Cassiar
Property. Lucky is an area that reflects stacked, interlayered sequences of mafic volcanic rocks
separated by flat lying bands of interflow sediments and ultramafic rocks typical of Cassiar District
geology. The competency contrast between these structurally weaker units allows the more competent
mafic volcanics to behave as a favourable host to gold-bearing quartz veins due to both their chemical
composition and tendency to fracture in response to regional deformation, helping to localize gold-
mineralized fluids traveling along more ductile weaker units.
Results
Two drill holes totaling 640 m in cumulative length, were drilled at the Lucky target area (Figure 1) and
were designed to test for potential lateral and downdip extension of an outcropping sulphide-mineralized
quartz vein, as well as evaluate the potential for additional parallel vein sets at depth.
Drill holes 23LKY-001 and 23LKY-002 (northward oriented) confirmed the presence of shallow gold-
bearing quartz veins in mafic volcanic host rock both above and below an interflow sediment and
ultramafic horizon, consistent with the stacking of mafic panels at this locale. See Table 1, Figure 6 for
additional results.
Figure 6. Plan map of 2023 drill holes at Lucky reported in this news release. The map location
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/2958/194705_279fb5342426bb10_007full.jpg
Figure 7. Image of the west-northwest trending, sulphide-mineralized quartz vein identified
during the 2023 field campaign which this season's drilling at Lucky tested (grab sample
assays pending). Location of vein exposure relative to drilling is indicated in Figure 6.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/194705_279fb5342426bb10_008full.jpg
These results from the limited field work and drilling conducted at Lucky during the 2023 program
confirm the potential to identify new areas of quartz veining and mineralization in areas with thin cover,
minimal outcrop exposure, and limited previous exploration at the Cassiar Gold Property.
Table 1. Significant 2023 drilling results from Newcoast and Lucky regional targets 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 where available and structural data from oriented drill core and
outcropping veins.
Target Area
Drillhole
From (m)
To (m)
Length* (m)
Grade (g/t Au)
Newcoast
23NC-001
106.7
107.8
1.1
1.24
207.3
208.3
1.0
1.59
214.4
216.4
2.0
1.89
246.0
254.0
8.0
0.57
23NC-002
141.2
144.1
2.9
0.92
189.1
191.1
2.0
0.82
233.0
236.0
2.9
3.36
incl.
234.2
236.0
1.8
5.30
with
235.3
236.0
0.7
10.15
335.0
338.1
3.1
0.75
23NC-003
98.8
100.2
1.4
2.24
144.4
151.0
6.6
1.22
incl.
146.0
146.5
0.5
8.64
189.0
203.8
14.8
0.82
incl.
199.8
201.0
1.2
3.58
incl.
203.0
203.8
0.8
3.28
213.2
214.3
1.1
1.24
229.6
232.7
3.1
0.55
317.7
319.1
1.4
1.32
346.9
354.4
7.5
0.82
23NC-004
74.5
76.2
1.7
0.76
222.6
359.4
136.8
0.71
incl.
222.6
317.9
95.3
0.90
with
239.7
246.6
6.9
1.22
and
264.3
280.3
16.0
1.39
and
289.8
298.2
8.4
1.35
and
305.2
309.7
4.5
1.06
23NC-005
49.2
50.4
1.2
0.95
128.2
129.2
1.0
1.57
139.5
140.5
1.0
1.98
144.8
147.3
2.5
0.52
151.8
161.7
9.9
0.56
179.4
247.2
67.8
0.60
incl.
189.2
190.3
1.1
7.86
and
223.9
224.7
0.8
7.07
and
236.2
236.7
0.5
3.42
257.3
258.9
1.6
1.03
263.1
280.1
17.1
0.50
289.3
290.5
1.2
1.00
297.5
300.2
2.7
0.53
319.6
322.1
2.5
0.55
334.0
338.8
4.8
0.56
23NC-006
36.6
40.0
3.4
0.79
incl.
36.6
37.0
0.4
2.60
89.0
90.2
1.2
0.94
93.5
96.4
2.9
0.65
161.5
162.1
0.6
2.22
169.9
180.7
10.9
0.55
271.6
279.8
8.2
0.95
incl.
274.0
274.6
0.6
3.94
323.4
324.7
1.3
2.07
Lucky
23LKY-001
104.0
105.3
1.3
0.75
217.3
218.5
1.2
1.41
249.6
250.0
0.4
3.58
23LKY-002
13.7
18.0
4.3
0.57
86.4
87.6
1.2
0.74
Qualified Person
The technical information in this news release has been reviewed and approved by Jill Maxwell, P.Geo.,