Thesis Gold Inc (TSX-V:TAU) told investors that it has identified numerous new targets at its wholly-owned Ranch gold project in British Columbia, underscoring the discovery potential at the 180 square kilometre (km2) asset.
The new targets come after a 4.1 km2 induced polarization (IP) survey was carried out at the property, which is in the famous Golden Horseshoe area.
Notably, numerous new epithermal targets were identified at Alberts Hump, which had similar characteristics to the already drill-tested, high-grade mineralization at the Bonanza, Thesis II, Thesis III, and Ridge prospects.
"The company continues to generate new targets in the underexplored regions of the property, demonstrating the untapped discovery potential at Ranch," said Thesis Gold CEO Ewan Webster in a statement.
READ: Thesis Gold hits more high-grade gold at the Bonanza Zone in British Columbia
"The strong agreement between the IP data, the mapping, geochemical, and ground magnetics provides us with increased confidence in these newly identified epithermal targets Thesis is well funded for its 2022 program that will continue to focus on expanding known zones of mineralization and advancing new targets through the exploration pipeline," Webster added.
Thesis Gold pointed out that much of the district-scale Ranch property remains underexplored, and the firm will said it continues to use these "effective exploration tools to generate additional prospective targets".
The company also noted that the IP anomalies found with strike-lengths greater than 500 metres (m) were consistent with regional northeast and northwest structural controls on gold mineralization, while some of the soil anomalies also remain open along-strike.
The company's Ranch project lies around 300 km north of Smithers, British Columbia and is home to 21 known near-surface epithermal gold deposits and prospects and the company reckons there is a 2 million ounce exploration target there.
Notably, 10,000 ounces of gold have already been produced from Ranch from three small open pits, while 35,500m of core drilling has been undertaken in 433 holes.
Contact the writer at giles@proactiveinvestors.com