Thesis Gold Inc (TSX-V:TAU) has hailed the early results from this year's summer drilling at its flagship project in British Columbia, which have "significantly" expanded historical zones and further shown the "connectivity and scalability" of mineralization.
The summer program, now completed, saw over 32,000 metres (m) sunk in 119 holes. One in the so-called Bonanza zone hit a length of 91 metres (m), starting from just 19m depth, at a grade of 1.81 grams per ton (g/t) gold and 8.41 g/t silver, including a length of 35m, from 74m depth, at 2.93 g/t of the yellow metal and 10.36 g/t of silver.
Generally, the assays showed "broad intervals of significant mineralization" that in many cases began at, or near, the surface, said the firm.
"The success of the step-out drilling program at Bonanza and Ridge continues to demonstrate expanding zones of broad shallow mineralization along strike," said Ewan Webster, the company's CEO in a statement.
READ: Thesis Gold further de-risks Ranch project as it unveils encouraging metallurgical tests
"In addition, as we test new parallel structures, we continue to discover widespread mineralization. Collectively, this demonstrates the ability of dominant northwest and northeast structures to host extensive and continuous mineralization at scale.
"We are very pleased that these initial assay results have continued to expand mineralization and we expect continued near term positive results from the remainder of the pending drill assays."
Another hole at the Ridge zone intercepted a length of 19.25m, from 88.75m to 108m depth, grading 1.85 g/t gold and 58.21 g/t silver. That included an intercept of 12m at 2.93 g/t gold, 65.46 g/t silver, or 3.75 g/t gold-equivalent.
Thesis also noted that two holes had tested a new northwest-oriented fault zone and hit significant mineralization, including 18.38m of 1.62 g/t gold and 4.76 g/t silver.
Combined with the 2022 spring drill program at Ridge, the total drilled this year at the property is 36,491m.
Thesis Gold is focused on proving and developing the resource potential of the 17,832-hectare Ranch gold project in the 'Golden Horseshoe' area of northern British Columbia, around 300 kilometres north of Smithers.
Shares in Toronto added around 9% on the day to C$0.93 each.
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