Thesis Gold Inc (TSX-V:TAU) has announced assay results from the company's 2022 drill program at the Thesis 3 zone at its Ranch Gold project in British Columbia's Toodoggone mining district that it said demonstrate the potential for broad-scale gold mineralization at Ranch.
The mineral exploration company revealed that drill hole 22TH3DD015 returned 95.7 metres (m) core length of 1.60 grams per tonne (g/t) gold including 17m of 2.82 g/t gold within the recently discovered Western Zone. Meanwhile, drill hole 22TH3DD020 returned 48.73m of 2.16 g/t gold including 11.76m of 3.63 g/t gold.
"We are very excited with the excellent recent results at the Bonanza-Ridge Zone and the new discovery at the Steve Zone,” Thesis gold president and CEO Ewan Webster said in a statement.
“It's great to see mineralization continuing to expand at Thesis 3, in keeping with our hypothesis that the Thesis Structural Corridor will evolve into one large connected system,” he added.
READ: Thesis Gold hits new discovery at the Steve Zone of Ranch project
The company noted that drilling at Thesis 3 indicates broad, steeply dipping, parallel, zones of fault-controlled epithermal gold mineralization.
Mineralization now extends to over 250m strike length, more than 250m vertical depth, and remains open along strike to the northwest and southeast, it added.
Also, the structures controlling mineralization within the Thesis Structural Corridor extend along strike for over 1.5 kilometres (km) and include the Bingo and Thesis 2 Zones.
The company said assays are pending for additional drilling between the Bingo, Thesis 2, and Thesis 3 zones where alteration similar to known gold mineralization suggests a potential link between all three zones.
The Thesis Structural Corridor comprises the Thesis 2, Thesis 3, and Bingo zones. The Corridor is characterized by a kilometre-scale northwest-southeast trending magnetic low that is crosscut by numerous northeast and north-to-south trending structures.
Drilling at Thesis 3 continues to return broad intervals of epithermal gold mineralization within leached and vuggy silica-altered andesitic volcanic rocks that often coincide with northwest-oriented faults, the company said.
The broad magnetic low and significant intervals of argillic- and silicic-altered volcanic rocks at the Thesis Structural Corridor are likely a representation of prolonged fluid flow and host rock alteration along faults and fractures that acted as fluid pathways at the time of gold mineralization.
Thesis Gold is focused on proving and developing the resource potential of the 17,832-hectare Ranch gold project in the 'Golden Horseshoe' area of northern British Columbia, around 300 kilometres north of Smithers.
Contact the author at stephen.gunnion@proactiveinvestors.com