Thesis Gold Receives Amended 5-Year Exploration Permit
Thesis Gold Receives Amended 5-Year
Exploration Permit
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2024) - Thesis Gold Inc. (TSXV: TAU) (WKN:
A3EP87) (OTCQX: THSGF) ("
Thesis
" or the "
Company
") is pleased to announce the receipt of an
amended Mines Act permit (the "
Permit
") at its 100% owned Lawyers-Ranch Project in the prolific
Toodoggone Mining District of northern British Columbia.
Highlights
5-year Multi-Year-Area-Based (MYAB) Exploration & Mine Permit
: A property wide MYAB
permit has been authorized by the Ministry of Energy and Mines of British Columbia for the
ongoing drilling and exploration activities to be conducted on the Lawyers-Ranch Project
Approved Activities:
Permitted drilling sites
: 3900
Geotechnical drilling sites: 46
Exploration trails/access
: 260 kilometres
Additional 20 km of access modifications
Fuel storage
: 225,000 litres
Test Pits
: 100
With these approvals in place, Thesis is well-positioned to continue advancing geotechnical and
exploration activities. The permitted drill site allowances and exploration access are crucial for ongoing
project exploration, while the permitted geotechnical sites and test pits will lay the groundwork for
engineering studies at Ranch.
"Our receipt of the amended 5-year exploration permit marks a significant milestone for Thesis Gold,"
said Dr. Ewan Webster, President and CEO of Thesis Gold Inc. "This permit enables us to
systematically advance our exploration and engineering efforts. With the ability to conduct extensive
drilling, expand our access, and continue our comprehensive geological and environmental studies, we
are well-positioned to unlock the full potential of this prolific mining district. Additionally, the upcoming
release of our Preliminary Economic Assessment (PEA) will be a major catalyst, providing valuable
perspective into the project's economic potential. We remain committed to responsible and sustainable
exploration as we drive towards our goal of advancing a world-class gold project."
Ongoing Geological, Engineering, and Environmental Work:
Over 10,000 metres of drilling
focused on resource upgrading and expansion at both project areas, including undrilled prospects at
Ranch; field mapping and prospecting at new claims; ongoing geochemical sampling and geotechnical
drilling to support potential mine design; additional metallurgical studies; and continued environmental
baseline data collection and monitoring at Lawyers and Ranch.
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 are provided in a technical report with an 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/219228