Thesis Gold Significantly Expands Gold Mineralization at the JK Zone
Thesis Gold Significantly Expands Gold
Mineralization at the JK Zone
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2023) - Thesis Gold Inc. (TSXV: TAU)
(WKN: A3EP87) (OTCQX: THSGF)
("
Thesis
" or the "
Company
") is pleased to report assay results
from the JK Zone at its 100% owned Ranch Project. The JK Zone, a sparsely drilled target located
between the Thesis Structural Corridor and the Bonanza-Ridge Zone (Figure 1), has proven a greater
than 230-meter (m) strike length of near-surface gold mineralization in the 2023 results, demonstrating
the Company's successful strategic exploration initiatives. The Ranch Project is road-accessible by way
of the Company's Lawyers Gold-Silver Project, and together the two projects form a contiguous, 325 km
2
land package in the prolific Toodoggone Mining District in northern British Columbia.
Highlights
2023 drill results
confirm >230 metres of mineralization along N-S trending structures
that
correspond to a prominent magnetic low signature.
Drillhole
23JKDD001
returned
20.00 metres (m) of 2.93 grams per tonne gold (g/t Au).
Drillhole
23JKDD011
, the northern-most drillhole, returned
9.37 m of 2.03 g/t Au
Drillhole
23JKDD005
intercepted a broad,
69.83 m long interval grading 1.28 g/t Au
.
The results expand the known mineralization which remains open to the north, and the company
has identified a potential structure offsetting mineralization to the south (Figure 2).
Ewan Webster, President and CEO, commented, "The overall area of known mineralization at Ranch
continues to expand, demonstrating the significant upside that remains beyond the known zones of
mineralization. The JK Zone has grown significantly in strike length, exhibits near surface high-grade
mineralization, and remains open for testing in 2024. The expansion of mineralization and the
identification of new targets underscore our commitment to realizing the full potential of the Ranch
Project. We eagerly anticipate sharing more drill results from both the Ranch and Lawyers Projects, as
these findings continue to shape our growth trajectory."
The JK Zone is situated about 270 metres south of the main Ranch Access Road, midway between the
Thesis Structural Corridor and the Bonanza-Ridge Zone (Figure 1). Prior to 2023, there was limited
drilling at JK that defined a mineralized gold trend extending for about 60 metres, a trend that has since
been proven to continue for over 230 m in strike length. The 2023 drill program targeted and intersected
mineralization within N-S oriented magnetic lows. The mineralized N-S structures are interpreted as
splays off larger NW-SE-oriented faults (Figure 2), consistent with similar patterns seen elsewhere on
the property.
Drilling at JK has been very successful in advancing the Company's understanding of this otherwise blind
target and has emphasized the importance of N-S-oriented faults as controls on hydrothermal fluids and
mineralization. Much like the Steve Zone, JK is an early-stage target with lots of opportunity for further
testing, definition, and continued expansion. Drillhole 23JKDD001 confirmed up-dip continuity of pre-
2023 drill results, demonstrating that mineralization begins at surface (Figure 3). Although drillhole
23JKDD008 returned no significant results, there's a possibility that mineralization is truncated in the
south along a prominent NW-SE structure, potentially continuing within the magnetic and topographic low
south and east of this year's defined mineralized trend. Gold mineralization in 23JKDD011 corroborates
the offsetting influence of NW-SE faults on the N-S structures and will be the subject of further testing in
2024. Future drilling is needed to realize the full potential of JK and advance the target beyond its early
stage.
Table 1:
JK drill results.
Hole ID
From (m)
To (m)
Interval (m)*
Au (g/t)
23JKDD001
11.00
31.00
20.00
2.93
incl
27.00
31.00
4.00
7.81
23JKDD002
32.00
38.00
6.00
1.48
23JKDD003
7.00
11.00
4.00
2.64
23JKDD004
No significant Intercepts
23JKDD005
22.00
91.83
69.83
1.28
incl
59.00
67.85
8.85
2.66
incl
62.00
64.00
2.00
5.48
and
101.00
103.00
2.00
0.88
incl
102.00
103.00
1.00
1.53
23JKDD006
35.00
38.00
3.00
1.93
and
48.35
52.00
3.65
1.05
23JKDD007
5.00
7.00
2.00
0.42
23JKDD008
No significant Intercepts
23JKDD009
No significant Intercepts
23JKDD010
Seized hole, redrilled as 23JKDD011
23JKDD011
103.23
112.60
9.37
2.03
incl
107.00
109.00
2.00
3.81
*Intervals are core length.
Figure 1:
Property overview showing the JK Zone with respect to the Thesis Structural Corridor and the
Bonanza-Ridge Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6169/191720_addf3e58740eea9e_001full.jpg
Figure 2:
Plan view map of the JK Zone showing drill collar locations and interpreted faults over ground
magnetics.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6169/191720_addf3e58740eea9e_002full.jpg
Figure 3:
Cross section showing 23JKDD001, 22JKDD002, 21JKDD002, and historical drillhole, A88-
13.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6169/191720_addf3e58740eea9e_003full.jpg
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver,
Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by
Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is
maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic
emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold
were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by
nature and may not be representative of the mineralization hosted on the project.
The 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 National Instrument 43-101.
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, following its strategic merger with Benchmark Metals, is unlocking the combined potential
of the Ranch and Lawyers Gold-Silver Projects 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 is the 2023 50,000-metre drill program, which aims
to define the high-grade underground resource at Lawyers and augment the near-surface high-grade
deposits at Ranch. The company's roadmap includes releasing a combined Ranch-Lawyers resource
estimate by Q2 2024, with an updated Preliminary Economic Assessment slated for Q3 2024. Through
these strategic moves, Thesis Gold aspires to elevate the Ranch-Lawyers project to the forefront of
global precious metals ventures.
1
Preliminary Economic Assessment: Lawyers Gold & Silver Project (2022). JDS Energy & Mining.
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.com
. The Company does not undertake to update
any forward-looking information, except in accordance with applicable securities laws.
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