Thesis Gold (TSXV:TAU) Reports Assay Results, Drilling 20.30 Metres of 4.69 g/t Au at Bonanza-Ridge Zone

Figure 1. Plan view map. LiDAR with select recent drill results and line of section for Figure 2. Source: Thesis Gold

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.

Figure 2. Cross section showing a trend of a high-grade-gold mineralization at the Ridge zone. See results from hole 22BNZDD008 in the Company’s Nov. 7th, 2022, press release. Source: Thesis Gold

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:

  • Ridge hole 22RDGDD037 returned 20.30 metres (m) core length of 4.69 grams per tonne (g/t) gold (Au), 15.29 g/t silver (Ag) or 4.88 g/t AuEq** (Table 1), including 7.30 m of 9.25 g/t Au, 8.76 g/t Ag or 10.02 g/t AuEq** (Figures 1 & 2).
    • High-grade gold (17.08 g/t Au) was intersected over a 3.30 m interval beginning at 129.70 m depth.
    • High-grade gold in hole 037 demonstrates excellent downdip continuity across numerous drill holes and high-grade gold in rock samples collected at surface (Figure 2).
  • Strong gold mineralization over wide intercepts at the Ridge Zone further extended mineralization at depth and along strike (Figure 1 and Table 1).
    • 22RDGDD015: 15.56 m of 3.79 g/t AuEq**
    • 22RDGDD025: 25.60 m of 1.14 g/t AuEq**
    • 22RDGDD035: 13.33 m of 1.19 g/t AuEq** – (Furthest NE confirmed mineralization)
    • Bonanza-Ridge mineralization now extends over 700 m along strike
  • Mineralization associated with northwest and northeast-oriented structures continues to demonstrate good continuity and remains open along strike.
  • The Company will continue to provide additional results from the 2022 drill program as they become available.

Table 1: Drill core assay results from the Ridge Zone.

Drillhole   From To Interval Au (g/t) Ag (ppm) AuEq**
22RDGDD008   109.83 121.00 11.17 0.42 48.64 1.02
incl. 111.00 115.00 4.00 1.15 116.93 2.61
22RDGDD013   106.24 113.71 7.47 0.51 11.47 0.66
incl. 106.24 111.03 4.79 0.79 12.59 0.95
and 161.14 175.00 13.86 1.31 4.81 1.37
incl. 161.14 167.00 5.86 2.42 6.59 2.50
and 186.00 187.87 1.87 0.98 5.29 1.05
22RDGDD015   146.02 161.58 15.56 2.96 66.33 3.79
incl. 150.69 155.00 4.31 4.27 92.06 5.42
and 242.00 244.00 2.00 0.00 58.50 0.73
22RDGDD019   132.00 142.00 10.00 1.83 30.37 2.21
incl. 135.00 142.00 7.00 2.56 23.31 2.85
22RDGDD025   127.40 153.00 25.60 1.10 3.94 1.14
incl. 129.00 134.00 5.00 3.29 1.78 3.31
and 161.00 162.00 1.00 0.07 25.40 0.39
22RDGDD026   100.00 120.00 20.00 0.86 8.22 0.96
incl. 105.00 112.00 7.00 2.01 7.48 2.11
22RDGDD030   89.00 111.00 22.00 0.41 5.90 0.48
incl. 89.00 95.00 6.00 1.00 4.29 1.05
and incl. 101.79 105.00 3.21 0.76 11.00 0.90
22RDGDD032   72.35 92.00 19.65 0.06 46.03 0.64
incl. 83.00 92.00 9.00 0.12 77.10 1.09
and 137.00 146.00 9.00 2.15 6.47 2.23
incl. 137.00 143.00 6.00 2.97 7.61 3.07
and 161.00 185.00 24.00 0.66 1.90 0.69
incl. 162.00 170.00 8.00 1.24 2.22 1.27
and incl. 174.56 177.26 2.70 0.86 2.65 0.90
22RDGDD034   110.00 113.00 3.00 2.08 5.27 2.14
incl. 110.00 111.00 1.00 3.36 4.97 3.42
and 281.00 282.00 1.00 0.00 17.25 0.22
22RDGDD035   100.67 114.00 13.33 1.06 10.33 1.19
incl. 100.67 110.00 9.33 1.51 10.15 1.64
22RDGDD037   120.83 123.00 2.17 0.01 30.30 0.39
and 129.70 150.00 20.30 4.69 15.29 4.88
incl. 129.70 137.00 7.30 9.25 8.76 10.02
and incl. 129.70 133.00 3.30 17.08 7.40 17.17
and 143.00 150.00 7.00 3.46 13.97 3.64
and 161.00 165.15 4.15 0.14 17.11 0.35

*True width of the intervals has not yet been established by drilling.

**AuEq calculated on 1:80 gold-to-silver.

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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