Thesis Gold Inc. (TSX-V:TAU) has provided a surface exploration update from its ongoing 2021 fieldwork and initial sampling program at its Ranch gold-copper project in British Columbia.
The company said it has identified several significant, kilometre-scale alteration systems via detailed bedrock and alteration mapping coincident with gold and gold pathfinder element anomalies in initial soil sampling results.
Early results of the extensive rock prospecting program include high-grade gold, highlighted by vuggy silica with barite veining from selective grab samples yielding 45.6 grams per tonne (g/t) gold and 34.6 g/t gold at the Patti prospect.
READ: Thesis Gold releases ‘outstanding’ assays from ongoing drill at the Ranch gold and copper project
Surface work highlights include:
- Multiple kilometre-scale soil anomalies that remain open along-strike;
- Surface sampling has an excellent correlation with mapped alteration zones;
- The geochemical signature at surface is indicative of high-sulphidation epithermal and porphyry-style alteration;
- Previously unrecognized northeast-southwest-oriented structures have emerged in this dataset; and
- The soil anomalies are coincident with newly acquired induced polarization (IP) geophysical data and bedrock alteration mapping that collectively define priority drill targets.
"These new results are very compelling and certainly emphasize the scope and scale of many of these targets that have strike extents of multiple kilometres,” said Thesis CEO Ewan Webster in a statement.
“Many of these anomalies have never been drill tested yet share the same geochemistry and alteration as the known gold zones. This data in conjunction with our other geochemical and geophysical data sets are helping to define a robust set of drill targets."
To date, the company has received results for 4,768 of the 7,445 collected soil samples. Several kilometre-scale geochemical anomalies have been identified in important pathfinder elements associated with potential epithermal and porphyry-style mineralization.
These soil anomalies will be evaluated in conjunction with newly acquired IP geophysics and bedrock alteration mapping to produce prospective drill targets.
Thesis also announced it has entered into a letter agreement with Taylor Wu, pursuant to which the company acquired two British Columbia mineral claim numbers. The company paid $4,000 in cash plus the cost of transferring the title.
In addition, the company said it has granted a total of 1,350,000 incentive stock options to directors, officers, employees, and consultants. The options vest immediately and may be exercised at $1.35 each for a period of five years from the date of grant.
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