Vancouver, British Columbia–(Newsfile Corp. – March 12, 2024) – Thesis Gold Inc. (TSXV: TAU) (FSE: A3EP87) (OTCQX: THSGF) (“Thesis” or the “Company“) is pleased to report all remaining assay results from the 2023 drill program at the Company’s 100% owned Ranch Project. The Ranch Project is road-accessible by way of the Company’s Lawyers Gold-Silver Project, and together the two projects form a contiguous, 325 km2 land package in the prolific Toodoggone Mining District in northern British Columbia.
Highlights
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Near-Surface Mineralization: Significant portions of the mineralization at Bingo lie within or just below 50 vertical metres (m) from surface.
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High-Grade Intercepts including:
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Drillhole 23BNGDD024 returned 20.00 m* of 8.46 grams per tonne (g/t) gold (Au), 36.96 g/t silver (Ag), and 1.72% copper (Cu), or 11.55 g/t gold equivalent (AuEq**)
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Drillhole 23BNGDD029 returned 38.90 m* of 2.79 g/t Au, 4.79 g/t Ag, and 0.58% Cu, or 3.73 g/t AuEq**.
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Drillhole 23BNGDD035 returned 29.20 m* of 2.64 g/t Au, 51.14 g/t Ag, and 0.70% Cu, or 4.36 g/t AuEq**.
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High-grade mineralization is associated with zones of massive enargite and chalcopyrite copper mineralization.
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Increased Deposit Footprint: In 2023, Thesis doubled the number of metres that had previously been drilled at the Bingo zone. Drilling has substantially increased the footprint of mineralization and suggests significant expansion potential in undrilled areas with similar geophysical signatures.
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Geological Insight: The discovery of key controls on mineralization related to intersecting NW-SE, NNW-SSE, N-S, and NE-SW faults enhances our targeting strategy for future drilling.
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Copper Potential: The consistent presence of high-grade copper not only potentially enhances the project’s overall value but could also indicates proximity to a potential porphyry system. Copper mineralization will become a key focus for advancing our understanding of the mineralizing system, and optimizing targeted exploration at Ranch.
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Strategic Alignment: These results align with our 2023 strategic objectives for the Ranch Project, demonstrating the potential for significant near-surface mineralization and continuation at-depth. The expansion of the Bingo Zone not only enhances the project’s upside but also solidifies our path towards updating the mineral resource estimate (Q2 2024) and subsequent updated PEA (Q3 2024).
Ewan Webster, President and CEO, commented “These step-out drilling results at the Bingo Zone define strong near-surface mineralization, particularly the high-grade intercepts in drillholes 23BNGDD024, 23BNGDD029, and 23BNGDD035, underscoring the prospect’s significant potential. Doubling the drilling efforts in 2023 has not only expanded the deposit footprint but also provided valuable geological insights, guiding our strategy for future exploration. The consistent presence of high-grade copper further enhances the project’s value and hints at the proximity to a potential porphyry system.”
The Bingo Zone marks the northernmost tested extent of the Thesis Structural Corridor (Figure 1). The Thesis Corridor is a 1.5-km-long structural zone that contains intersecting NW, N-S, and NE faults associated with property-scale lineaments evident in both topography and in multiple geophysical datasets. In the Bingo Zone and the rest of the Thesis Structural Corridor, there is no little exposed outcrop, so targeting efforts relied exclusively on historical drilling, trenching, geophysics, and soil geochemistry.
Table 1: Drill results from the Bingo Zone.
|
Hole ID |
From (m) |
To (m) |
Interval (m)* |
Au (g/t) |
Ag |
Cu (%) |
AuEq (g/t)** |
|
|
23BNGDD013 |
81.12 |
81.92 |
0.80 |
0.03 |
67.70 |
0.05 |
0.96 |
|
|
23BNGDD014 |
3.00 |
13.00 |
10.00 |
0.19 |
115.57 |
0.11 |
1.80 |
|
|
incl |
11.00 |
11.71 |
0.71 |
0.21 |
1230 |
0.71 |
16.66 |
|
|
and |
19.52 |
20.12 |
0.60 |
0.01 |
547 |
0.27 |
7.27 |
|
|
23BNGDD015 |
72.50 |
73.82 |
1.32 |
0.01 |
117 |
0.19 |
1.76 |
|
|
23BNGDD016 |
No Significant Results |
|||||||
|
23BNGDD017 |
52.95 |
54.68 |
1.73 |
0.77 |
2.22 |
0.09 |
0.93 |
|
|
23BNGDD018 |
140.00 |
169.27 |
29.27 |
0.87 |
4.29 |
0.13 |
1.12 |
|
|
incl |
141.00 |
144.50 |
3.50 |
1.62 |
17.98 |
0.47 |
2.57 |
|
|
and incl |
164.00 |
168.00 |
4.00 |
2.06 |
5.91 |
0.40 |
2.75 |
|
|
23BNGDD019 |
115.50 |
116.00 |
0.50 |
0.03 |
39.80 |
0.02 |
0.56 |
|
|
23BNGDD020 |
No Significant Results |
|||||||
|
23BNGDD021 |
No Significant Results |
|||||||
|
23BNGDD022 |
31.00 |
32.00 |
1.00 |
0.03 |
994 |
0.21 |
12.77 |
|
|
23BNGDD023 |
5.00 |
14.00 |
9.00 |
0.48 |
0.65 |
0.02 |
0.51 |
|
|
and |
31.30 |
91.00 |
59.70 |
0.93 |
18.65 |
0.04 |
1.23 |
|
|
incl |
31.30 |
74.00 |
42.70 |
1.13 |
25.32 |
0.05 |
1.51 |
|
|
incl |
31.30 |
35.00 |
3.70 |
1.55 |
3.90 |
0.09 |
1.74 |
|
|
and incl |
44.00 |
74.00 |
30.00 |
1.26 |
33.91 |
0.05 |
1.76 |
|
|
23BNGDD024 |
69.00 |
89.00 |
20.00 |
8.46 |
36.96 |
1.72 |
11.55 |
|
|
incl |
74.00 |
79.00 |
5.00 |
20.57 |
94.86 |
4.75 |
29.01 |
|
|
and incl |
86.00 |
89.00 |
3.00 |
11.39 |
74.18 |
3.13 |
17.09 |
|
|
and |
97.00 |
111.28 |
14.28 |
1.97 |
4.76 |
0.49 |
2.79 |
|
|
23BNGDD025 |
25.00 |
27.00 |
2.00 |
0.44 |
0.52 |
0.02 |
0.48 |
|
|
23BNGDD026 |
72.00 |
81.91 |
9.91 |
0.79 |
6.30 |
0.29 |
1.32 |
|
|
incl |
74.62 |
76.00 |
1.38 |
0.40 |
4.18 |
0.98 |
1.94 |
|
|
and incl |
78.00 |
81.00 |
3.00 |
1.64 |
10.84 |
0.24 |
2.15 |
|
|
23BNGDD027 |
98.00 |
116.00 |
18.00 |
0.27 |
2.36 |
0.11 |
0.46 |
|
|
23BNGDD028 |
58.00 |
73.25 |
15.25 |
2.06 |
7.40 |
0.23 |
2.51 |
|
|
incl |
63.95 |
68.00 |
4.05 |
4.95 |
6.04 |
0.70 |
6.10 |
|
|
23BNGDD029 |
47.00 |
85.90 |
38.90 |
2.79 |
4.79 |
0.58 |
3.73 |
|
Thesis Gold Step-Out Drilling at Bingo Zone Intersects 20.00 Metres of 8.46 g/t
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