Cassiar Gold Corp. Intercepts 2.84 g/t Au over 12.3 m, 1.79 g/t Au over 23.75 m, and 29.1 g/t Au over 0.45 m at Taurus Bulk-Tonnage Gold Deposit

Tuesday, 10. November 2020 14:45

Hong Kong, Hong Kong and Calgary, Alberta--(Newsfile Corp. - November 10, 2020) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQB: CGLCF) ("Cassiar" or the "Company") is pleased to announce assay results for seven diamond drillholes from its recently completed 2020 drill program on its 100%-owned Cassiar Gold Property in northern British Columbia, Canada. The primary goal of this drill program was to continue to confirm and expand the 43-101 inferred near-surface resource of 1 million ounces at 1.43 g/t Au estimated at Taurus in 2019 (see Company news release, September 11, 2019). The remaining 17 drillholes from the program will be reported pending receipt and confirmation of results.

Highlights

  • 23.75 m at 1.79 g/t Au and 4.80 m at 3.90 g/t Au returned from undrilled near-surface gap in bulk-tonnage resource
  • Infill drilling provides additional geological confidence and confirms historical drill results for the Taurus gold deposit, including 14.85 m at 2.27 g/t Au at surface

"This first set of results are extremely positive and significant to us. They all contained gold mineralization, confirmed and added confidence to historical results, and have the potential to add near surface ounces to our already significant resource. I am very excited to see the next batches of results which will be received over the following weeks. Our strategy is to continue exploring and expanding the Taurus Deposit while we shift our focus toward the high-grade targets at South Cassiar, a few kilometers south of Taurus and a former high-grade gold producer hosting a high-grade historic resource. With the addition of David Rhys and Doug Kirwin to our Technical Advisory Board and the closing of our private placement of CAD 6,65M our company has the direction and funding needed to continue drilling at both Taurus and our high grade targets at South Cassiar, as we look to establish Cassiar Gold as a multimillion ounce district scale gold project," commented Marco Roque, CEO of Cassiar Gold.

Taurus Deposit Drilling Summary

The drillholes were planned to confirm historical diamond drilling and reverse circulation (RC) drilling results, or to infill gaps within the 2019 Taurus bulk-tonnage resource model. Results are reported in Table 1.

Four drillholes targeted a previously undrilled 150 m x 150 m gap in the 2019 resource ("GAP" in Figure 1). Of note is drillhole 20TA-108, which intersected 23.75 m at 1.79 g/t Au at the west end of the gap. Also, within the gap, and 100 m to the east of 20TA-108, drillhole 20TA-112 intersected 4.80 m at 3.90 g/t Au and 6.29 m at 1.36 g/t Au. These intercepts support the potential to increase the resource base at Taurus through infill drilling of the current resource.

Drillhole 20TA-104 was drilled 14 m to the west and parallel to historic drillhole 96-124. Several significant intersections were returned, including 14.85 m at 2.27 g/t Au and 9.0 m at 1.33 g/t Au, confirming historical results and indicating along-strike continuity of mineralization.

Hole 20TA-102 was drilled parallel to and 10 m to the east of historic drillhole T96-96. Significant intercepts include 9.10 m at 1.73 g/t Au, 12.3 m at 2.84 g/t Au, and 17.6 m at 1.00 g/t Au, consistent with historical results.

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Figure 1. 2020 drilling at Taurus bulk-tonnage gold deposit. Resource gold shells projected to surface for reference. Blue box in inset map shows Taurus area within Cassiar Gold Property.

To view an enhanced version of Figure 1, please visit:
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"The Taurus resource is an important foundational component of the Cassiar gold project. We are pleased to be able to refine and develop the geological model with these new drilling results and with structural data collected through the program that can be leveraged to advance the project," stated Kaesy Gladwin, VP Exploration.

Table 1. Selected mineralized intercepts from 2020 drilling at the Taurus deposit. Drillholes 20TA-101 through 20TA-124 were drilled sequentially in the 2020 program. Drillholes not included in this table are pending receipt and validation of results.

Hole IDFrom ToLengthAu Comments
20TA-10122.5025.102.60 m0.69 g/t AuTest Hole
20TA-1027.509.502.00 m0.64 g/t Aucollared in mineralization

25.9028.002.10 m1.69 g/t Au

31.2531.950.70 m1.88 g/t Au

41.0047.806.80 m1.02 g/t Au
including45.9046.000.10 m11.90 g/t Au

50.5068.1017.60 m1.00 g/t Au

75.7584.859.10 m1.73 g/t Au

90.35102.7012.30 m2.84 g/t Au
including90.3591.103.15 m4.68 g/t Au
and95.4598.002.55 m2.03 g/t Au
and101.80102.250.45 m29.10 g/t Au

115.50117.502.00 m1.35 g/t Au
20TA-1046.0020.8514.85 m2.27 g/t Aucollared in mineralization
including7.0512.505.45 m2.87 g/t Au
and14.0015.701.70 m6.34 g/t Au

29.2031.502.30 m1.54 g/t Au

33.6042.609.00 m1.33 g/t Au
including33.6036.202.60 m2.74 g/t Au

48.7060.0011.30 m0.71 g/t Au
including48.7055.556.85 m0.95 g/t Au
with53.3555.552.20 m1.60 g/t Au
20TA-10714.8817.202.32 m1.14 g/t Au
22.0023.501.50 m0.85 g/t Au
45.0051.816.81 m2.40 g/t Au
112.87115.072.20 m1.53 g/t Au
20TA-10841.2042.601.40 m0.83 g/t Au
66.0989.8423.75 m1.79 g/t Au
including73.1082.539.43 m2.82 g/t Au
with77.1082.535.43 m3.57 g/t Au
20TA-11240.346.596.29 m1.36 g/t Au
including40.342.52.20 m2.28 g/t Au

95.5971.50 m2.30 g/t Au

121.65126.454.80 m3.90 g/t Au
including122.2125.453.25 m4.55 g/t Au

142.6148.55.90 m0.61 g/t Au
20TA-11321.7023.702.00 m1.29 g/t Au

46.8048.001.20 m0.95 g/t Au

68.4073.204.80 m1.11 g/t Au
including68.4069.551.15 m2.20 g/t Au

76.2079.002.80 m1.38 g/t Au

81.8085.403.60 m1.35 g/t Au

 

Qualified Person

The qualified person for the Cassiar Gold Project as defined by NI 43-101 is Kaesy Gladwin, P.Geo., VP Exploration for the Company. The 2020 Taurus program is drilled with HQ drill core oriented using the REFLEX ACTIII system. Drill core samples selected and analyzed in the 2020 exploration program are logged and then cut in half using a diamond cutting saw, in a secure core storage facility located in Jade City, British Columbia. Certified gold reference standards and blanks are routinely inserted into the sample stream, as part of Cassiar Gold Corp.'s quality control/quality assurance (QAQC) program. All samples are delivered to the SGS Canada preparation facility in Whitehorse, Yukon, where they are processed, and then shipped to the SGS Canada analytical facility in Burnaby, British Columbia. Samples are analyzed for gold by 50 gram fire assay with finish by atomic absorption or gravimetric methods. Screen metallic analysis is performed on selected samples. SGS Canada quality systems and technical aspects conform to requirements of ISO/IEC Standard 17025 guidelines.

About Cassiar Gold Corp.

Cassiar Gold Corp. (TSXV: GLDC) (OTCQB: CGLCF) is a Canadian gold exploration company focused on projects in British Columbia and led by a team of highly successful business and technical executives. The Company's key asset, the Cassiar Gold Project, is a large, advanced-stage, road-accessible gold property with a NI 43-101-compliant resource estimate of 1M oz at 1.43 g/t Au at the Taurus bulk-tonnage gold deposit. The Property hosts numerous gold showings, historical workings, and exploration prospects over a >15 km long and up to 10 km wide trend that extends from high-grade past-producing mines at Cassiar South, to the Taurus deposit at Cassiar North.

Forward-looking statements

This press release may contain forward looking statements including those describing Cassiar's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Cassiar and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Cassiar's exploration plans and work commitments, the potential of mineral resources and potential for recover thereof, the timing of reporting of exploration results, as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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 release.

CONTACT INFORMATION

Cassiar Gold Corp.
https://www.cassiargold.com

Marco Roque
CEO and a Director
+852 6691 6295
Marco@cassiargold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67825

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