Thesis Gold (TSXV:TAU) Reports Assay Results from Drilling at Ranch Project, Including 60.00 Metres of 4.53 g/t Gold, Including 19.00 Metres of 10.39 g/t Gold

Figure 1: Overview map of the Thesis Structural Corridor showing ground magnetics – residual magnetic intensity, fault interpretations, and drill collar locations. Source: Thesis Gold

Thesis Gold (TSXV:TAU) has announced assay results from 2023 drilling at the Thesis II and Thesis III zones of its 100% owned Ranch Gold Project, located in the Toodoggone Mining District of northern British Columbia, Canada.

Ewan Webster, President and CEO, commented in a press release: “The 2023 drilling results at Thesis II and Thesis III represent yet another step towards unlocking the full potential of the Ranch Project. Our targeted strategy for the 2023 program focused on furthering our understanding of the high-grade, near-surface potential at Ranch as we progress towards a maiden resource estimate. We view this as a stepping stone in our ongoing efforts to extend the mineralization at Ranch. Today’s notable step-out headline hole of 60.00 m at 4.53 g/t Au strongly suggests that there is still much to be discovered.”

The drilling is part of a strategic plan to support the development of a maiden resource estimate at Ranch – an important milestone ahead of a forthcoming Preliminary Economic Assessment update. Together with the adjacent Lawyers Gold-Silver Project, Ranch forms Thesis Gold’s contiguous 325 km2 land package in the region.

Thesis II and III represent the southern and central zones along the multi-kilometre scale Thesis Structural Corridor, which hosts multiple mineralized domains together with the emerging Bingo zone. On a regional, district and deposit scale, mineralization occurs along intersecting NW-SE and E-W trending faults that have been mapped using magnetic surveys. These regional faults are believed to have acted as conduits for mineralizing fluids in the project’s porphyry and epithermal systems.

Figure 2: Plan view map of Thesis II zone showing ground magnetics – residual magnetic intensity and collar locations. Source: Thesis Gold

Recent drilling has improved the understanding of how these local faults control the geometry of the gold-mineralized bodies. One exploration hole at the southern end of Thesis II intercepted 60 meters grading 4.53 g/t gold, while a subsequent step-out hole returned only low-grade mineralization. This suggests the NE-oriented structure between the two holes may offset the mineralization to the southwest.

Altered and mineralized rock typically shows a reduced magnetic signature compared to surrounding unaltered host rock. Thesis’ technical team is developing new drill targets along the low-moderate magnetic lineaments that parallel known mineralized trends. Exceptionally broad high-grade intercepts continue to highlight the potential for expansion and new discoveries across the wider Ranch Project over the next year.

Thesis Gold is focused on unlocking the combined potential of the adjoining Lawyers and Ranch projects after its 2022 strategic merger with Benchmark Metals. A recent preliminary economic study outlined plans for a 12-year open pit operation at Lawyers yielding over 160,000 gold-equivalent ounces per year. Integrating the Ranch project aims to improve project economics further. The company’s plans include releasing a combined resource estimate in Q2 2024, followed by an updated preliminary economic assessment in Q3 2024 to showcase the full potential of the projects.

Highlights from the results are as follows:
In both Thesis II and Thesis III, two distinct broad mineralized domains are present in the near-surface and at depth.
  • Drilling at Thesis II was designed to test deeper mineralization identified at the end of the 2022 drilling campaign:
    • 23TH2DD005 intersected 60.00 metres (m) of 4.53 grams per tonne gold (g/t Au) beginning 84 m from surface (vertical depth).
      • Including 19.00 m of 10.39 g/t Au.
  • Drilling at Thesis III returned strong near surface mineralization:
    • 23TH3DD013 intersected 24.32 m of 2.93 g/t Au beginning at a vertical depth of 32 m.
    • 23TH3DD017 intersected 39.90 m of 2.39 g/t Au beginning at vertical depth of 4 m.
  • Confirmation and infill drilling from the 2023 season will be incorporated into an upcoming, maiden mineral resource estimate for the Ranch Project scheduled for Q2 2024.

Table 1: 2023 drill results from Thesis II and Thesis III.

Hole ID From (m) To (m) Interval (m)* Au (g/t)
23TH2DD001 108.12 114.20 6.08 0.53
23TH2DD002 No Significant Results
23TH2DD003 No Significant Results
23TH2DD004 130.26 133.00 2.74 0.83
23TH2DD005 31.67 33.81 2.14 0.59
and 128.28 129.92 1.64 44.80
and 141.00 201.00 60.00 4.53
incl 153.00 199.80 46.80 5.61
incl 168.00 187.00 19.00 10.39
incl 169.00 172.00 3.00 32.84
incl 170.00 171.00 1.00 75.60
incl 184.00 187.00 3.00 19.09
incl 185.00 186.00 1.00 38.30
23TH2DD006 170.00 171.00 1.00 0.61
23TH3DD001 11.00 24.00 13.00 1.06
incl 21.00 24.00 3.00 2.78
and 33.00 90.00 57.00 0.76
incl 77.00 78.00 1.00 7.15
and 106.00 107.00 1.00 6.79
23TH3DD003 106.38 110.00 3.62 0.45
23TH3DD004 No Significant Results
23TH3DD005 37.00 38.28 1.28 0.72
23TH3DD006 44.05 44.70 0.65 13.85
23TH3DD007 9.00 16.00 7.00 3.77
and 78.53 97.00 18.47 0.46
23TH3DD008 6.00 14.00 8.00 1.75
and 39.00 58.96 19.96 0.66
23TH3DD010 16.83 31.00 14.17 0.30
23TH3DD011 No Significant Results
23TH3DD012 No Significant Results
23TH3DD013 2.96 5.00 2.04 0.64
and 40.68 65.00 24.32 2.93
incl 44.00 51.00 7.00 6.79
incl 48.00 50.00 2.00 12.68
23TH3DD014 119.75 121.00 1.25 1.29
23TH3DD015 4.00 5.00 1.00 2.30
and 21.00 33.00 12.00 0.20
and 38.00 39.00 1.00 1.63
and 55.00 59.00 4.00 0.47
23TH3DD017 5.10 45.00 39.90 2.39
and 54.08 60.00 5.92 0.67
23TH3DD018 No Significant Results
23TH3DD019 124.83 133.40 8.57 0.20
23TH3DD020 No Significant Results
23TH3DD021 286.28 301.34 15.06 0.63
incl 289.67 292.38 2.71 1.29
and incl 298.00 300.80 2.80 1.45
and 341.20 352.00 10.80 0.50
23TH3DD022 280.00 285.00 5.00 0.58
and 309.00 353.00 44.00 0.88
incl 309.00 339.00 30.00 1.11
incl 323.00 337.00 14.00 1.80
and incl 346.00 353.00 7.00 0.75
and 360.00 363.07 3.07 0.35

*Intervals are core length.

 

 

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 specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

Comments are closed.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.

MOST ACTIVE MINING STOCKS

 Daily Gainers

 Lincoln Minerals Limited LML.AX +125.00%
 Golden Cross Resources Ltd. GCR.AX +33.33%
 Casa Minerals Inc. CASA.V +30.00%
 Athena Resources Ltd. AHN.AX +22.22%
 Adavale Resources Limited ADD.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%

Download the latest Solaris Resources (SLSSF) Investor Kit

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

MiningFeeds will use the information you provide on this form to be in touch with you and to provide updates and marketing.