Thesis Gold Inc (TSX-V:TAU) said it has received an amended Mines Act permit for the Ranch Gold Project, located at the Golden Horseshoe area in north-central British Columbia.
The amended permit allows the company to streamline operations and ramp up exploration activities. The reactivation of the Ranch Road, which provides year-round road access to the project area, significantly reduces mobilization costs and allows greater efficiencies in pursuit of additional discoveries. Additional camp infrastructure, including core processing facilities, enables several economies of scale, the company said.
"This new permit is a huge milestone for the company and project, allowing us to not only expand the scope and scale of the exploration program, but for the first time in decades will allow the project to become fully road accessible again,” Dr Ewan Webster, Thesis Gold president and CEO, said in a statement.
READ: Thesis Gold announces discovery of new West zone at Ranch gold-silver-copper asset in BC
"The associated infrastructure upgrades are well underway and expected to be completed in early September. Our expansive exploration program is progressing very well and currently has four diamond drills turning. We look forward to sharing the drill results in the coming weeks as they become available," he added.
Amendment highlights:
- Permitted Drilling Sites increased to 500 from 250
- Modification of Ranch Road: 20 kilometres (km) of existing access road is now permitted for refurbishment, facilitating more efficient exploration
- Exploration Access Construction: Up to 20 km of access trails for drill site access within the work area now permissible
- Substantial increases to permitted Work Related Structures: Includes living accommodations, core processing facilities, and office facilities
The company currently has four diamond drill rigs operating at the Ranch Gold Project. During the summer program, the company has so far completed 5,200 metres of drilling from 25 holes.
Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project.
Contact the author at jon.hopkins@proactiveinvestors.com