Thesis Gold Inc (TSX-V:TAU) has told investors that last year's drilling at the Thesis III zone on its wholly-owned Ranch project in British Columbia (BC) discovered a new gold zone.
This new "western zone" was uncovered in one hole around 100 metres (m) west of known Thesis III mineralization, which appeared to hit a parallel structure, which controls mineralization, and which is open in all directions and has a strike length of over 80m.
The hole was one of 19 sunk last year to test historically-known mineralization and conceptual exploration targets near the Thesis III occurrence. High-grade gold was hit at Thesis III as well as at this newly discovered western zone.
In a statement, Ewan Webster, Thesis Gold CEO, said: "This new discovery of parallel high-grade gold mineralization proximal to the Thesis III zone demonstrates the significant discovery potential that exists within the Thesis structural corridor and across the largely underexplored Ranch project. Planning is underway for our 2022 drill program where we will continue to test this very promising new zone."
READ: Thesis Gold identifies new targets at 'underexplored' Ranch gold project in British Columbia
The discovery hole at the Western zone returned 28m core length starting at 149m depth at 6.07 grams per tonne (g/t) gold.
Other drill highlights included a hole, which hit 81.12m core length from 179m depth at 1.32 g/t gold, which included an intercept of 26.25m at 3.01 g/t gold from 224.82m depth.
The company noted that the gold potential within the Thesis structural corridor remained largely untested by drilling, with abundant attractive targets along a strike length of more than 1,500m.
The company's Ranch project lies around 300 kilometres north of Smithers, BC 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