The newest outcomes from drilling at Cassiar Gold’s (TSXV: GLDC; US-OTCQX: CHLCF) Taurus deposit within the Cassiar North space of northern B.C., verify the mission’s bulk-tonnage potential, the Calgary, Alta.-based firm says.
In line with Cassiar’s CEO, Marco Roque, the assay outcomes from six holes drilled this summer season reveal related grades and obvious thickness as drill holes used within the 2022 Taurus useful resource estimate.
Highlights embody drill gap 22TA-158 at Taurus West, which intersected 72.3 metres of 1.09 grams gold per tonne from 337 metres downhole, extending mineralization 50 metres past the inferred useful resource open-pit shell.
Drill gap 22TA-152 at Taurus Central returned a number of intervals, together with 20.2 metres of 1.33 grams gold from 157.4 metres downhole outdoors the present useful resource grade shell, together with 0.5 metre of 25.9 grams, and 29.1 metres of 1.17 grams gold from 279.7 metres downhole. The holes expanded on deeper mineralized areas outdoors the inferred pit shell.
Additionally, within the Taurus Central space, gap 22TA-149 reduce 36.8 metres of 1.3 grams gold per tonne from 8.2 metres downhole, together with 5.3 metres of 4.09 grams gold, confirming near-surface mineralization encountered in historic drill holes.
The corporate’s 2022 program included 70 drill holes and over 23,000 metres of diamond drilling that started in June and completed in October. The exploration focus of the drilling focused high-priority areas on the Taurus deposit, important vein prospects at Cassiar South and extra brownfield alternatives on the property.
The Taurus deposit hosts a near-surface, inferred useful resource of 1.4 million oz. grading 1.14 grams gold per tonne in 37.9 million tonnes of fabric, which stays open in all instructions.
With Cassiar’s most intensive drilling program up to now now full, the corporate expects to launch extra outcomes by way of year-end and into the brand new 12 months. Outcomes from 19,102 metres of drilling (57 drill holes) stay pending.
The corporate is working in direction of a possible useful resource replace in 2023, depending on outcomes from the 2022 drill marketing campaign at Cassiar North and Cassiar South.
Cassiar had $10.3 million money within the financial institution as of September.
The corporate’s Toronto-quoted fairness fell about 5% on the information Tuesday to 52.5¢ per share, giving it a market cap of $42.8 million. It’s down about 31% over the previous 12 months, having examined 48¢ to $1.48 per share.
