Thesis Gold Inc (TSX-V:TAU) has announced encouraging assay results from 11 holes drilled at the Bonanza-Ridge Zone during the 2022 field season which continue to expand the mineralized footprint at the Ranch Gold Project in the Golden Horseshoe of north-central British Columbia.
The positive drill results increase the footprint of precious metal mineralization at the Ridge Zone in all directions, the company said, noting that northeast and southwest-directed step-out drilling continues to intersect broad, 10m-25m wide intervals of mineralization, extending the strike length of the Bonanza-Ridge Zone to over 700m.
"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,” Ewan Webster, Thesis Gold president and CEO, said in a statement.
READ: Thesis Gold hits new discovery at the Steve Zone of Ranch project
Highlights from the assays include:
- Ridge hole 22RDGDD037 returned 20.30m core length of 4.69 grams per tonne (g/t) gold (Au), 15.29 g/t silver (Ag) or 4.88 g/t gold equivalent (AuEq), including 7.30m of 9.25 g/t Au, 8.76 g/t Ag or 10.02 g/t AuEq
- High-grade gold (17.08 g/t Au) was intersected over a 3.30m interval beginning at 129.70m 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
- Strong gold mineralization over wide intercepts at the Ridge Zone further extended mineralization at depth and along strike
- 22RDGDD015: 15.56m of 3.79 g/t AuEq, 22RDGDD025: 25.60m of 1.14 g/t AuEq, 22RDGDD035: 13.33m of 1.19 g/t AuEq
The mineralized structure coincides with linear magnetic lows and shows potential across multiple datasets for further expansion with future drilling. The correspondence of high-grade gold in 22RDGDD037 with high-grade gold in rock grab samples at surface demonstrates the down-dip continuity of mineralization on that section to more than 150m vertical depth, the company said.
Prospective magnetic lows continue beyond the limits of many of the mineralized trends that remain open along strike, which, in addition to numerous untested targets, indicates further potential for growth and discovery at the Ranch Project, it added.
The company also said it has changed its auditors from MS Partners LLP to Zeifmans LLP effective January 17, 2022.
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 kilometres north of Smithers, British Columbia.
Contact the author at jon.hopkins@proactiveinvestors.com