Thesis Gold Inc (TSX-V:TAU) has announced more noteworthy assay results from the Bonanza-Ridge Zone at the Ranch Gold Project in British Columbia's Toodoggone mining district.
In a statement, Ewan Webster, Thesis Gold president, and CEO, commented: "Drilling activities at the Bonanza-Ridge Zone have produced noteworthy gold and silver intercepts from surface and maintained consistency in grade and continuity at depth.
"The persistently favorable outcomes thus far demonstrate the immense potential for the resource and highlight the significance of this rapidly expanding area, which will remain a principal area of focus for our upcoming 2023 drill program."
READ: Thesis Gold announces initial assay results from Bingo Zone at Ranch Gold Project
Among the assay highlights, Ridge hole 22RDGDD047 returned 7.00 metres (m) core length of 11.69 grams per tonne (g/t) gold (Au), 5.32 g/t silver (Ag) or 11.76 g/t gold equivalent (AuEq), including 2.00m of 36.43 g/t Au, 11.88 g/t Ag or 36.57 g/t AuEq.
This is the most southerly hole drilled at the Ridge zone and deepest on that section, demonstrating excellent downdip continuity across numerous drill holes. The zone remains open down plunge and along strike.
Other assay highlights include:
- Bonanza hole 22BNZDD018 intercepted over 80.00m of pervasive alteration from surface that included three separate zones of mineralization: 10.26m of 2.07 g/t AuEq; 24.00m of 1.69 g/t AuEq; and 5.00m of 1.83 g/t AuEq. This hole is in the very sparsely drilled Bonanza-Ridge connector zone
- A deeper interval in 22BNZDD018 intersected the Bonanza Zone showing 30.00m of 2.00 g/t AuEq, including 12.00m of 2.82 g/t AuEq, and 7.08m of 2.61 g/t AuEq
- Strong gold mineralization over wide intercepts at the Bonanza-Ridge Zone further extended mineralization with 22RDGDD029 showing 10.00m of 2.28 g/t AuEq; and 22BNZDD016 showing 25.00m of 1.04 g/t AuEq
The company noted that Bonanza-Ridge mineralization extends over 700m along strike. Mineralization associated with northwest and northeast-oriented structures continues to demonstrate good continuity and remains open along strike.
It said drill holes 22BNZDD016-19 intercepted significant intervals of strong mineralization at or near-surface in an area with considerable opportunity to expand on the mineralized footprint. The mineralized leached, vuggy-silica-altered rocks intersected near-surface in these holes are similar in character to the broad zones of mineralization encountered in hole 22BNZDD008 and 22BNZDD009 along the northeast extension of the Bonanza Trend. 2023 drilling will continue to test for near-surface mineralization in this very prospective zone between these two well-defined trends, the company said.
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