2022-03-09 04:37:29
Vancouver, British Columbia–(Newsfile Corp. – March 9, 2022) – Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) (“Thesis“) or the “Company“) is pleased to announce the commencement of a spring drilling program at its 100% owned Ranch Gold Project. The Company plans to complete up to 10,000 metres of drilling using two diamond drill rigs during the exploration campaign. The program will be focused within the >1.5 kilometre long Thesis structural corridor that hosts the Thesis II, Thesis III, and Bingo occurrences (Figure 1). The drilling campaign underscores the opportunity to conduct year-round exploration in the road-accessible Toodoggone region of British Columbia.
Objectives
- Continue drilling at Thesis III, including follow-up on the parallel west zone discovery hole 21TH3DD012 that intersected 28.00 metres of 6.07 grams per tonne gold (see February 7th, 2022 news release).
- Thesis II will also see expansion and exploration drilling, including testing of a prospective geophysical target of similar character to the recently discovered West Zone at Thesis III.
- Assess upside and exploration potential near the Bingo occurrence, which has not seen contemporary drilling but includes several promising surface geochemistry and geophysical anomalies proximal to historical gold mineralization.
- Utilize improved logging protocols to enhance understanding of mineralization controls within the Thesis structural corridor, particularly lithological controls that were poorly recognized in historical drill targeting work.
Figure 1: A. Thesis structural corridor with gold occurrences, historical and 2021 drill collars, and ground magnetics (RMI) underlay.
Ewan Webster, President and CEO, commented, “We are excited to get an early start on this year’s drill program by leveraging the accessible nature of the project and excellent infrastructure. The primary objective of the spring program is to continue building on the success of last year’s drill program within the Thesis structural corridor. This >1.5 kilometre strike-length feature hosts many prospective anomalies proximal to historical gold mineralization, and we believe there is a strong opportunity to make additional discoveries both within the Thesis structural corridor and elsewhere within the Ranch project area.”
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L’Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors
Thesis Gold Inc.
“Ewan Webster”
Ewan Webster Ph.D., P.Geo.
President, CEO, and Director
About Thesis Gold Inc.
Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the “Golden Horseshoe” area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project and the 2021 drill program, please click here and watch the videos on the project.
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President
The Howard Group Inc.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 403-410-7907
Toll Free: 1-888-221-0915
Nick Stajduhar
Director
Thesis Gold
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company’s recently completed financings and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual management’s discussion and analysis, which is available on the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.