Thesis Gold Inc (TSX-V:TAU) has announced initial assay results from the Bingo Zone at the Ranch Gold Project in British Columbia's Toodoggone mining district.
The holes were drilled during the 2022 summer drill program and were designed to test the scale and scope of a new zone discovered in the spring of 2022.
"Our 2022 expansion drilling continues to deliver excellent results. Today's results include the northernmost hole drilled at Bingo to date, leaving the zone wide open for expansion along strike,” Ewan Webster, Thesis Gold president and CEO, said in a statement.
READ: Thesis Gold says assays from Thesis 3 zone demonstrate the Ranch Gold project’s potential
“Overall, the results from the 2022 work are showing strong, near-surface gold mineralization over a large area with only sparse historical drilling. We see tremendous expansion potential in this Zone and along the entire Thesis Structural Corridor," he added.
Highlights
- Drill hole 22BNGDD009 returned a broad, 80.30 metre (m) interval of vuggy silica alteration including: 50.30m core length of 1.86 grams per tonne gold (g/t Au).
- A 12.00m zone of no recovery within the 86.00m interval of silicified andesite is attributed to the intensely altered and brittle nature of the andesitic volcanic rocks.
- Other zones on the project share similar characteristics and are often associated with elevated gold grades.
- Drill hole 22BNGDD008 contains numerous intervals of significant gold mineralization including: 18.72m core length of 1.50 g/t Au containing a 5.46m high-grade zone of 4.12 g/t Au.
- Drilling at Bingo indicates steeply dipping zones of epithermal gold mineralization controlled by an interconnected fault network in the northwest most extent of the Thesis Structural Corridor.
- Drill results from 22BNGDD008 and 22BNGDD009 outline a mineralized strike-length of more than 200m that remains open along strike and at depth.
- Assays are pending for additional drilling between Bingo and Thesis 3, where logged alteration and structural relationships associated with known gold mineralization suggest the zones are potentially linked.
Mineralization at Bingo is hosted within leached, vuggy silica-altered andesitic volcanic rocks and breccias that typically coincide with northwest-oriented faults and their intersections with NNW and NE structures. The broad magnetic low and presence of significant alteration in rocks along the entire structural corridor are likely the manifestation of host rock alteration due to prolonged fluid flow, defining an expansive target, much of which remains to be tested.
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.
Contact the author at jon.hopkins@proactiveinvestors.com