Thesis Gold Mobilizes for 2024 Exploration Program
Thesis Gold Mobilizes for 2024 Exploration
Program
Vancouver, British Columbia--(Newsfile Corp. - July 4, 2024) - Thesis Gold Inc. (TSXV: TAU) (WKN:
A3EP87) (OTCQX: THSGF) ("
Thesis
" or the "
Company
") is pleased to report it has mobilized for the
2024 exploration season at its 100% owned Lawyers-Ranch Project in the prolific Toodoggone Mining
District of northern British Columbia. Thesis Gold is planning an updated Preliminary Economic
Assessment (PEA) scheduled for release in Q3-2024. Consequently, this summer's field program will
focus on geological, engineering, and environmental baseline studies, aimed at further de-risking the
project, unlocking its broader potential, and preparing it to commence a Pre-Feasibility study in 2025.
2024 Program Highlights
Geological work
:
10,000+ metres (m) of drilling
will be split between resource upgrading and a limited
number of drill holes focused on resource expansion at both project areas, with a focus on
testing undrilled prospects at Ranch.
Field crews will undertake
preliminary mapping and prospecting
at new claims north and
east of the contiguous Lawyers-Ranch project. These areas cover prospective units, contain
mineral showings, and significant gossanous outcrops.
Engineering work:
Geochemical sampling
is ongoing at Lawyers and will begin at Ranch this year to
determine the acid-base qualities of the mineralized material.
Geotechnical drilling
at Ranch will focus on rock quality characteristics to establish a
framework for potential mine design.
Additional
metallurgical studies
at Ranch will help further classify rock comminution
characteristics and optimize the processing flow chart.
Environmental studies:
The required two years of
baseline data collection at Lawyers is complete
, with ongoing
studies focused on monitoring and upkeep.
Ranch has entered the second year of its two-year study period
. Biologists and
hydrogeologists will be on-site this summer to continue characterizing the projects aquatic,
terrestrial, geochemical, and meteorological components.
Dr. Ewan Webster, President and CEO, commented, "We are excited to kick off the 2024 exploration
season at our Lawyers-Ranch Project. Our comprehensive geological, engineering, and environmental
baseline studies are designed to further de-risk the project and unlock its full potential. With over 10,000
metres of drilling planned, we aim to upgrade and expand our resources, while also exploring new
prospects. Our ongoing engineering and environmental work will lay a solid foundation for further
engineering studies and the environmental assessment process. These efforts underscore our
commitment to advancing the Lawyers-Ranch Project towards becoming a leading precious metals
venture."
Following the release of a Measured & Indicated Mineral Resource of 4.0 Moz and an Inferred Mineral
Resource of 727 koz, at respective grades of 1.51 and 1.82 g/t AuEq (gold equivalent; see release from
May 1st, 2024), Thesis is intensifying its efforts to upgrade critical ounces from inferred to the Measured
& Indicated (M&I) categories at Lawyers-Ranch. The Ranch project also offers significant exploration
potential, with over 20 undrilled gold showings and numerous areas identified with promising geological,
geochemical, and geophysical anomalies. This year, the Company plans to test these targets to continue
the search for new discoveries.
To date, Thesis has made considerable progress in de-risking the Lawyers-Ranch project. In 2023, the
Company completed roadworks on the Ring Road, ensuring safe, year-round access to both project
areas with gentle grades and no avalanche risk. Road maintenance will continue throughout the 2024
field season. Engineering studies at Lawyers have advanced to a level sufficient for initiating a
prefeasibility study. This summer, our primary focus will be to achieve a similar level of data and
understanding at Ranch, supporting a combined prefeasibility study across the entire project area.
Environmental baseline studies are essential for understanding the environmental conditions specific to
an area before project construction begins. These studies require at least two years of data collection
and document existing conditions related to air, water, soil, and biotic resources. At Lawyers, the
required two years of data collection is complete, so ongoing studies are focused on maintaining current
and relevant data in preparation for entering the environmental assessment phase. Ranch is entering its
second year of baseline studies, with crews assessing aquatic conditions, monitoring fish and terrestrial
wildlife, and studying geochemistry and meteorological conditions.
Ian Harris has stepped down from his role as Chief Operating Officer and Vice-President of
Engineering. He remains dedicated to the Company and the project, continuing to oversee the
completion of the ongoing Preliminary Economic Assessment and related ongoing engineering studies
as a consultant.
On behalf of the Board of Directors
Thesis Gold Inc.
"Ewan Webster"
Ewan Webster Ph.D., P.Geo.
President, CEO, and Director
About Thesis Gold Inc.
Thesis Gold is unlocking the combined potential of the Lawyers-Ranch Gold-Silver Project in the
Toodoggone mining district of north central British Columbia, Canada. A 2022 Preliminary Economic
Assessment for the Lawyers project alone projected an open-pit mining operation yielding an average of
163,000 gold equivalent ounces annually over a 12-year span
1
. By integrating the Ranch Project, the
Company aims to enhance the economics and bolster the overall project's potential. Central to this
ambition was the expansive 2023 drill program, which continues to define a high-grade out-of-pit Mineral
Resource at Lawyers and augment the near-surface high-grade deposits at Ranch. The project now
boasts a combined Measured & Indicated Mineral Resource of 4.0 Moz and an Inferred Mineral
Resource of 727 koz, at respective grades of 1.51 and 1.82 g/t AuEq
2
. The Company roadmap
includes, new metallurgical work (now delivered), a robust 2024 exploration and drill program and a
combined updated Preliminary Economic Assessment slated for Q3 2024. Through these strategic
moves, Thesis Gold intends to elevate the Ranch-Lawyers Project to the forefront of global precious
metals ventures.
1
Please refer to the Company's Preliminary Economic Assessment entitled, "Preliminary Economic Assessment, Lawyers Gold-Silver Project" with an
effective date of September 9, 2022 filed under the Company's profile on SEDAR+ at
www.sedarplus.ca
.
2
Details of the mineral resource estimate will be provided in a technical report with an expected effective date of May 1, 2024, prepared in
accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects ("
NI 43-101
").
The scientific and technical content of this news release has been reviewed and approved by Michael
Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by NI 43-101.
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President Corporate Development
Email:
Tel: 403-410-7907
Toll Free: 1-888-221-0915
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 press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. Forward-Looking information includes, without limitation, statements regarding
the use of proceeds from the Company's recently completed financings and the future plans or
prospects of the Company. Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". Forward-Looking statements are
necessarily based upon a number of assumptions that, while considered reasonable by management,
are inherently subject to business, market, and economic risks, uncertainties, and contingencies that
may cause actual results, performance, or achievements to be materially different from those
expressed or implied by forward-looking statements. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated,
or intended. There can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking information. Other factors
which could materially affect such forward-looking information are described in the risk factors in the
Company's most recent annual management's discussion and analysis, which is available on the
Company's profile on SEDAR+ at
www.sedarplus.ca
. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities laws.
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