Thesis Gold (TSXV:TAU) has announced the latest assay results from its 2022 summer drill program at the Ranch Gold Project in British Columbia’s Toodoggone mining district. These results have significantly expanded the limits of the Bingo, Thesis III, and Thesis II zones, demonstrating gold mineralization along the more than 1.5-kilometre Thesis Structural Corridor.
Ewan Webster, President and CEO, commented in a press release: “From the outset of our drilling in the Thesis Structural Corridor, we believed that the system was much larger than previously documented. Today’s results continue to demonstrate our initial hypothesis was correct, we are now seeing significant growth come to fruition. The mineralization within the Corridor is showing excellent continuity along the 1.5 km strike extent, and as we continue to expand the mineralized footprint, we are discovering even more promising indications. Our team is currently planning for the 2023 drilling season, and the Thesis Structural Corridor is a primary focus for the upcoming campaign.”
Historically, the Bingo, Thesis III, and Thesis II zones were considered as three separate zones of mineralization. However, drilling by Thesis has shown that they are likely part of a continuous structure that spans over 1.5 km in strike length and continues downdip for at least 400 m. The mineral domain models further support this, indicating that the three zones are interconnected.
The mineralized intercepts from the northern and southern-most extents of the corridor returned significant gold intervals. The northwestern-most drillhole at Bingo returned 50.30 m core length of 1.86 g/t Au, while drilling from the southern Thesis II zone returned 59.00 m core length of 1.60 g/t Au. Additionally, high-grade mineralization within the corridor has returned intervals up to 33.13 m core length of 17.49 g/t Au.
The geophysical expression of the Thesis Structural Corridor is best characterized by a 350-400 m-wide, NW-trending magnetic low that extends for over 4 km northwest and southeast, beyond the current limits of drilling. The linear trend is attributed to magnetic destruction, resulting from prolonged hydrothermal alteration along the TSC fault network.
Thesis Gold’s exploration work has shown that there is considerable potential for continued expansion of gold mineralization along the Thesis Structural Corridor. The continuation of the geophysical signature, in conjunction with strong gold mineralization at the flanks of the drill-tested area, indicates that there may be further opportunities for significant discoveries in the area.
All significant intercepts from the Thesis Structural Corridor have now been reported, and Thesis Gold is looking forward to continuing its exploration work in the region. These positive results have added to the company’s growing confidence in the potential of the Ranch Gold Project and its ability to deliver value to its stakeholders.
Highlights from the results are as follows:
Table 1: Drill core assay results from the Thesis Structural Corridor.
|Drillhole||From||To||Interval (m)*||Au (g/t)||Ag (g/t)||AuEq (Au/Ag)**|
*True width of the intervals has not yet been established by drilling.
Thesis Gold (TSXV:TAU) has announced new assay results from 11 holes at the Bonanza-Ridge Zone during the 2022 field season. The company’s results expand the mineralized footprint at the Bonanza-Ridge Zone located at the Ranch Gold Project in north-central British Columbia.
The reported results increase the footprint of the previous metal mineralization at the Ridge Zone. The company continues to work on northeast and southwest-directed step-out drilling at Ridge Zone in an effort to intersect broad 10-25m wide intervals of mineralization. Thesis is extending the strike length of the Bonanza-Ridge Zone to over 700m.
The current mineralized structure at the Bonanza-Ridge Zone coincides with linear magnetic lows and shows potential across multiple datasets the company has compiled. This means the project remains highly prospective for further expansion with future drilling.
Ewan Webster, President and CEO, commented in a press release: “Drilling at the Bonanza-Ridge Zone continues to return significant gold and silver intercepts at surface, while delivering continuity and consistent grade to depth. The consistency of results received thus far supports the tremendous upside on the resource potential of this rapidly expanding target, it will remain a key focus for our 2023 drill program.”
Highlights from the drill results are as follows:
Table 1: Drill core assay results from the Ridge Zone.
|Drillhole||From||To||Interval||Au (g/t)||Ag (ppm)||AuEq**|
*True width of the intervals has not yet been established by drilling.
**AuEq calculated on 1:80 gold-to-silver.
Thesis Gold (TSXV:TAU) has provided an update on the recent assay results from its 2022 summer drill program from the Ridge zone at the Ranch Gold Project in British Columbia, Canada. The company has received results with broad mineralization and a high success ratio of drilling at the site, with 75% of the results for the holes still to be received.
Ewan Webster, President and CEO, commented in a press release: “The early assay results that we have received from the Bonanza-Ridge zone continue to deliver robust intervals of broad mineralization, demonstrating continuity along strike and at depth. The success ratio of drilling so far this season has been exceptional and over 75% of holes have yet to be received.”
Highlights from the updated results are as follows:
Early-stage results from the step out drill campaign at the Ridge Zone have expanded the mineralized domain(s) and provided essential geological context which will be integrated into future expansion programs. Drillholes 22RDGDD013 & 24 (Figure 1) occur on the southern and northern extents of the Ridge Zone and were part of a larger step out drilling program at the Ridge Zone designed to test the extent of mineralization along the NE oriented fault structure. Drillholes 22RDG0011 & 17 tested the SE and SW extents (Figures 1&2) of the Ridge Zone and successfully delivered broad zones of mineralization, with 22RDGDD011 further expanding the SE extent of known mineralization, and 22RDGDD017 helping infill the gap between the mineralized domains of the northern extent of the Bonanza Zone, and the southern extent of the Ridge Zone (Figure 2).
Table 1: Assay Results from the Ridge Zone
|Drillhole||From||To||Interval||Au (g/t)||Ag (ppm)||AuEq||Zone|
*Intervals are core-length. True width is estimated between 70-90% of core length.
**AuEq calculated based on a 1:80 gold to silver ratio.
The promising results of the 2022 drill program have significantly progressed the understanding of the structural characteristics associated with mineralization at the Ranch Property including broadscale, interconnected fault zones with shallow high-grade zones encapsulated by broad intervals of significant mineralization, providing a strong case for the major resource potential of the Ranch Property.
Tweet with hash tag #miningfeeds or @miningfeeds and your tweets will be displayed across this site.
|Lincoln Minerals Limited||LML.AX||+125.00%|
|Golden Cross Resources Ltd.||GCR.AX||+33.33%|
|Casa Minerals Inc.||CASA.V||+30.00%|
|Adavale Resources Limited||ADD.AX||+22.22%|
|Athena Resources Ltd.||AHN.AX||+22.22%|
|Azimut Exploration Inc.||AZM.V||+21.98%|
|New Stratus Energy Inc.||NSE.V||+21.05%|
|Dynasty Gold Corp.||DYG.V||+18.42%|
|Azincourt Energy Corp.||AAZ.V||+18.18%|
|Gladiator Resources Limited||GLA.AX||+17.65%|