Cassidy Gold Corp.: Updated Resource Statement for Kouroussa Project
KAMLOOPS, BRITISH COLUMBIA--- Sept. 20, 2006) - Cassidy Gold Corp. (TSX VENTURE:CDY) is pleased to announce updated resource figures for its 100% owned Kouroussa Gold Project in Guinea, West Africa. Resource drilling has begun to outline gold resources in five new zones: Kinkine, Bag Farm, Junction and X-Vein in the Sodyanfe area and KD-1 in the Koekoe Area. In addition, Cassidy has upgraded a significant portion of the previously Inferred resource to an Indicated classification.
Table 1 summarizes the Indicated and Inferred resources at Kouroussa estimated using a 0.7 g/t Au cut-off grade and a 3-metre minimum horizontal thickness. Indicated resources total 337,000 ounces of gold predominantly hosted in Sanu Filanan (161,000 oz) and Kinkine (89,000 oz), with significant contributions from Sanu Folo, JJ, and KD-1 (63,000 oz). Inferred resources total 364,000 oz hosted mainly in Sanu Filanan (205,000 oz). Significant inferred resources are present at Kinkine, Junction, KD-1, Sanu Folo, and JJ. All the mineralized zones included in the resource statement remain open in at least two directions.
Table 1 Indicated and Inferred Resources, Kouroussa Project
(0.7 g/t Au cut-off)
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Deposit INDICATED INFERRED
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Tonnage Au g/t Au oz Tonnage Au g/t Au oz
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Kinkine Trend
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Kinkine 1,486,000 1.90 89,000 722,000 1.50 35,000
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Sodyanfe Trend
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Bag Farm 292,000 0.90 9,000 151,000 1.50 7,000
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Junction 425,000 1.10 15,000 845,000 1.20 32,000
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X-Vein - - - 245,000 2.40 19,000
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Koekoe Trend
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Sanu Filanan 1,552,000 3.20 161,000 2,811,000 2.30 205,000
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Sanu Folo 186,000 2.80 16,000 254,000 2.70 22,000
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JJ 188,000 4.90 29,000 194,000 3.20 20,000
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KD-1 254,000 2.20 18,000 579,000 1.30 24,000
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TOTALS 4,383,000 2.40 337,000 5,801,000 1.97 364,000
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RSG Global of Perth, Australia validated and interpreted the data, constructed wire frames, completed 3-dimensional block models, and estimated resources for each of the mineralized zones using an Ordinary Krige technique. Resource estimates were prepared and reported in accordance with Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects and the classifications adopted by CIM Council in December 2005. |
