Vancouver, British Columbia – March 21, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) (“Thesis”) or the “Company”) is pleased to announce drilling results from the Thesis II zone, including the discovery of a new mineralized system, from the Company’s inaugural 2021 drill program at its 100% owned Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada.
Discovery Zone Drill Highlights
The newly discovered south zone was intersected in three 2021 drill holes:
21TH2DD009: 49.83 metres (m)* of 1.27 g/t Au, including 8.07 m of 4.22 g/t Au.
21TH2DD008: 26.20 m* of 1.42 g/t Au, including 5.00 m of 3.73 g/t Au.
21TH2DD003: 20.36 m* of 1.60 g/t Au, including 3.50 m of 6.50 g/t Au.
Additional results from Thesis II area drilling are available in Table 1.
As defined by current drilling, the new zone is situated approximately 40 metres southwest from the main zone at Thesis II, has a strike-length >50 metres, has been intersected up to 100 vertical metres from surface, is in excess of 20 metres wide, and remains open in all directions.
Thesis II Drilling – Key Points
The Company completed eight drill holes testing historical mineralization and conceptual targets proximal to the Thesis II occurrence in 2021.
Drill results have confirmed high-grade mineralization at Thesis II and encountered a new mineralized zone southwest of historical drilling.
The newly discovered southern zone appears to be a subvertical, structurally-controlled system that parallels existing mineralization at Thesis II.
The southern zone remains open in all directions and will be targeted during the ongoing spring drilling program.
The Thesis technical team continues to investigate the robust datasets collected in 2021 to generate new and prospective exploration targets for drilling during 2022.
Ewan Webster, President and CEO, commented, “This second recent discovery within the Thesis Structural Corridor demonstrates the opportunity that exists to make additional discoveries within this fertile area and continue expanding on known zones of mineralization. Our ongoing drill campaign is currently following up on these discoveries and we look forward to sharing those results as they become available.”
The Company is currently executing a spring drilling campaign focused within the >1.5 kilometre strike-length Thesis Structural Corridor, including follow-up drilling on both the western zone discovery at Thesis III and the southern zone discovery at Thesis II (see news release dated March 9th, 2022). The program will consist of up to 10,000 metres of drilling intended to expand on the newly discovered zones and test additional exploration targets. The Company believes there is significant opportunity to make additional discoveries within the Thesis Structural Corridor and elsewhere within the Ranch project area given the initial successes in expanding known mineralization and delineating new gold-bearing zones during the maiden drill program completed during the 2021 field season.
Figure 1: A. Thesis Structural Corridor with gold occurrences and ground magnetics (RMI) underlay. B. Plan map with 2021 and historical drill collars, and approximate surface expression of the newly discovered South zone.
Figure 2: Cross-section including 21TH2DD009 showing logged alteration with gold assay histograms.
An additional 12 exploration holes targeting conceptual geophysical targets were drilled during 2021 with no significant results returned.
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 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.
For further information or investor relations inquiries, please contact:
The Howard Group Inc.
Toll Free: 1-888-221-0915
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.
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