Thesis Gold Drills 13.00 Metres of 26.98 g/t Gold Including 4.00 Metres of 84.92 g/t Gold at Ranch
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Vancouver, British Columbia--(Newsfile Corp. - December 7, 2021) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis" or the "Company") is pleased to announce additional drill results from the Company's maiden drill program at its 100% owned Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada.
Highlights
Drill hole 21BNZDD004 returned 13.00 metres (m) core length of 26.98 g/t Au at the Bonanza Zone; including 4.00 m of 84.92 g/t Au from a depth of only 12.00 m downhole (Table 1). Similarly drill hole 21BNZDD007 intersected high-grade gold mineralization from very close to surface returning 11.46 m of 22.74 g/t Au including 7.50 m of 34.63 g/t Au.Gold mineralization at the Bonanza zone effectively begins at surface as indicated by the shallow downhole intercepts in Table 1, which is also consistent with historical drilling results.Assay results continue to indicate a strong correlation between the presence of visible sulphides and elevated gold content in drilling (Figure 1).Thesis completed 16,139 m of drilling for its maiden program across a number of different zones that collectively includes: 3808 metres (30 holes) of confirmation5159 metres (37 holes) of expansion, and7171 metres (39 holes) of exploration.
Table 1: Assay results from the Bonanza Zone
| Drillhole |
| From (m) | To (m) | Interval (m)* | Au (g/t) | | 21BNZDD004 |
| 12.00 | 25.00 | 13.00 | 26.98 | | incl. | 20.00 | 24.00 | 4.00 | 84.92 | | and | 40.00 | 45.44 | 5.44 | 1.72 | | 21BNZDD005 |
| 9.75 | 26.41 | 16.66 | 2.38 | | incl. | 22.04 | 22.75 | 0.71 | 26.00 | | 21BNZDD006 |
| 9.92 | 59.00 | 49.08 | 2.07 | | incl. | 9.92 | 29.00 | 19.08 | 4.25 | | incl. | 24.00 | 26.00 | 2.00 | 19.90 | | 21BNZDD007 |
| 34.15 | 45.61 | 11.46 | 22.74 | | incl. | 34.15 | 41.65 | 7.50 | 34.63 | | incl. | 39.95 | 41.65 | 1.70 | 129.15 |
*Intervals are core-length. True width is estimated between 70-90% of core length.
Figure 1: Plan map of completed 2021 and historical drilling at the Bonanza Zone.
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The Bonanza zone gold mineralization is controlled by a northwest-southeast oriented fault zone and an opposing northeast-southwest fault. This was very poorly understood historically and therefore the target was not systematically drilled. Drill hole 21BNZDD006 was designed to test the northeast limit of historical drilling on that trend. As illustrated on Figure 1 the historical drilling is predominantly parallel to the mineralizing trend, rather than perpendicular. Yet when 21BNZDD006 was drilled perpendicular it returned a broad zone of high-grade mineralization; 49.08 m of 2.07 g/t Au including 19.08 m of 4.25 g/t Au (Figure 2). This intercept demonstrates the strong continuity of mineralization from surface over broad intervals and that the mineralizing system remains strong and open to the northeast.
Ewan Webster, President and CEO, commented, "This second series of drill results from the Bonanza zone has again delivered some spectacular gold mineralization, beginning essentially at surface. Additionally, these results are starting to demonstrate that the mineralization remains strong and open at the limits of the historical drilling. With results from 99 holes from our 106-hole drill program still outstanding we anticipate strong news flow over the coming months."
Figure 2: Cross-section showing logged alteration and gold assay histograms for hole 21BNZDD006.
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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 is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the "Golden Horseshoe" area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project and the 2021 drill program, please click here and watch the videos on the project - newsfilecorp.com
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President
The Howard Group Inc.
Email: dave@howardgroupinc.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915
Nick Stajduhar
Director
Thesis Gold
Email: nicks@thesisgold.com
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.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. |
