Thesis Gold Inc (TSX-V:TAU) has announced the discovery of a new zone of mineralization near the historic Bingo occurrence at its Ranch project in British Columbia, Canada - the fourth new discovery within the so-called Thesis 'structural corridor' since the company's maiden drill program last year.
The firm has reported assays from five holes near Bingo, with one hole showing a length of 35.57 metres (m) starting from 132.43m depth, grading 1.30 grams per ton (g/t) gold, 2.27 parts per million (ppm) silver and 0.32% copper. Within that 35.57m intercept there was also 11.13m at a grade of 2.74 g/t gold, 4.14 ppm silver and 0.45% copper.
"We are very pleased to have made yet another discovery within the multi-kilometre Thesis Structural Corridor," said Thesis CEO Ewan Webster in a statement.
"Surface work and drill planning for the upcoming summer program is nearly complete, and we are very excited to build on our successful 2021 and spring 2022 exploration programs with a substantial 50,000 metre drill program designed to expand on areas of known mineralization and test many prospective exploration targets within the Ranch property area," he added.
READ: Thesis Gold announces discovery of new West zone at Ranch gold-silver-copper asset in BC
The Thesis Structural Corridor spans over 1.5km and drilling at Bingo coincided with a 17 hole spring drilling program near the Thesis II and Thesis III occurrences.
All five holes testing conceptual epithermal targets hit gold mineralization, validating the firm's exploration strategy and project's potential, Thesis said. It also noted that elevated copper content was common in productive high-sulphidation systems and could also indicate porphyry mineralization at depth.
The successful 2021 and spring 2022 drill campaigns indicate strong potential for additional discoveries in the imminent up to 50,000m drill program at Ranch, it added.
The company's Ranch gold project is a road-accessible, 178 square kilometre gold-silver-copper project in the prolific Golden Horseshoe area of north-central British Columbia, Canada.
Contact the author at giles@proactiveinvestors.com