Thesis Gold Inc (TSX-V:TAU) has announced further assay results from the 2022 summer drill program at its Ranch Gold Project in British Columbia's Toodoggone mining district.
The company highlighted drill hole 22TH2DD012, which returned 8.79 metres (m) core length of 11.97 grams per tonne (g/t) gold (Au). It said the results push the boundaries of the Bingo, Thesis III, and Thesis II zones, demonstrating gold mineralization along the over 1.5-kilometer (km) Thesis Structural Corridor.
"From the outset of our drilling in the Thesis Structural Corridor, we believed that the system was much larger than previously documented,” Thesis Gold president and CEO Ewan Webster said in a statement. “Today's results continue to demonstrate our initial hypothesis was correct, we are now seeing significant growth come to fruition.”
READ: Thesis Gold reveals more noteworthy assay results from the Bonanza-Ridge Zone at the Ranch Gold Project
Highlights include:
- High-grade gold mineralization at Thesis II:
- 22TH2DD012 returned 8.79 metres (m) core length of 11.97 grams per tonne (g/t) gold (Au), including 2m of 46.5 g/t Au; and
- 22TH2DD014 returned 14.9m core length of 5.48 g/t Au including 2m of 27 g/t Au.
- Infill drilling demonstrates mineralization along the 1.5 km-long portion of the Thesis Structural Corridor that has been drill tested to date:
- Between Thesis II and Thesis III, hole 22TH3DD022 returned 38.57m of 1.6 g/t Au including 23m of 2.02 g/t Au; and
- Between Thesis III and Bingo, hole 22BNGDD007 intercepted 34.9m of 1.30 g/t Au including 12.66m of 1.73 g/t Au.
- Mineral domain modelling implies continuity along a 1.5 km trend that stretches from surface to over 400m downdip in the Thesis III zone, and over 270m in the Bingo and Thesis II zones:
- The company will continue to test the Thesis Structural Corridor with both infill and expansion drilling, as the trend remains open both along strike and at depth.
“The mineralization within the Corridor is showing excellent continuity along the 1.5 km strike extent, and as we continue to expand the mineralized footprint, we are discovering even more promising indications,” Webster added. “Our team is currently planning for the 2023 drilling season, and the Thesis Structural Corridor is a primary focus for the upcoming campaign.”
Thesis noted that the Bingo, Thesis III, and Thesis II zones of the Thesis Structural Corridor were historically considered as three discrete zones of mineralization. Prior to exploration by the company, it said Thesis III, historically the most extensively drilled of the three mineralized zones, measured a strike length of approximately 200m, and a downdip extent of approximately 120m.
Drilling by Thesis has significantly expanded the limits of each of the three zones, and mineral domain models show that they are likely part of a continuous structure that spans over 1.5 km in strike length and continues downdip for at least 400m, the company added.
The company noted that mineralized intercepts from the northern- and southern-most extents of the Corridor returned significant gold intervals: the northwestern-most drill hole at Bingo returned 50.3m core length of 1.86 g/t Au, and drilling from the southern Thesis II zone returned 59.00 m core length of 1.60 g/t Au.
In addition, high-grade mineralization within the corridor has returned intervals up to 33.13m core length of 17.49 g/t Au.
Furthermore, it said the geophysical expression of the Thesis Structural Corridor is best characterized by a 350 - 400 m-wide, northwest-trending magnetic low, that extends for over 4 km northwest and southeast, beyond the current limits of drilling. The linear trend is attributed to magnetic destruction, the result of prolonged hydrothermal alteration along the TSC fault network.
Continuation of the geophysical signature, in conjunction with strong gold mineralization at the flanks of the drill-tested area, indicates considerable potential for continued expansion of gold mineralization along the Thesis Structural Corridor, it added.
The company said all significant intercepts from the Thesis Structural Corridor have now been reported.
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 stephen.gunnion@proactiveinvestors.com