Vancouver, British Columbia–(Newsfile Corp. – January 3, 2023) – Thesis Gold Inc. (TSXV: TAU) (“Thesis” or the “Company“) is pleased to present a preliminary synthesis of 2022 surface exploration at its Ranch Project (the “Property”). During the 2022 summer field season, the Company completed 183.8 line-km of ground magnetics and undertook an extensive soil sampling program covering approximately 20.5 km2. These two datasets build on data acquired during 2021 and have successfully expanded several known anomalies, in addition to delineating new, multi-kilometre scale geochemical and geophysical targets to test with drilling in 2023.
Ewan Webster, President and CEO, commented, “To date our soil data and ground magnetics have proven extremely effective at extending known zones of mineralization, in addition to making new discoveries on the project with the drill bit. This newly acquired data is very compelling and certainly emphasizes the scope and scale of many of these targets that share the same geochemistry and alteration as the known gold zones yet remain to be drill tested.”
During 2022, Thesis collected and analyzed a total of 4,259 soil samples, covering an area of approximately 20.5 km2. Interpretation of the soil data has extended and defined several NE, N-S, and NW oriented trends that are coincident with structural corridors interpreted from ground magnetics (Figures 1 and 2). Geochemical anomalies in pathfinder elements such as silver, molybdenum, tungsten, arsenic, antimony, lead, and zinc are typical of epithermal- and porphyry-style mineralization and are commonly associated with proven precious metal mineralization on the Ranch property and elsewhere within the Golden Horseshoe.
Figure 1: Simplified fault interpretation of structural trends derived from ground magnetics (RMI-AGC), with select target zones highlighted. The displayed ground magnetics includes both data collected in 2021 and 2022.
South of the drill-confirmed Thesis Structural Corridor there is a significant geochemical footprint of coincident molybdenum, tungsten, antimony, and silver anomalies that spans approximately 2 km by 1.6 km. This zone also contains localized anomalies of arsenic, lead, and zinc and coincides with mapped vuggy silica alteration that is known to be associated with precious metal mineralization at Ranch (Figure 2). Further, an approximately 2.6 km by 1 km strongly molybdenum-enriched footprint is present between the Ridge and Steve zones that also contains coincident tungsten, antimony, and silver anomalies (Figure 2). This geochemical anomaly is positioned between parallel N-S structures and extends north and south of their intersection with a NW-trending structure. Within other parts of the Ranch property, this type of structural environment has proven favorable for gold mineralization.
Many anomalies with these coincident geochemical and geophysical characteristics were proven as vectors to gold, copper, and silver mineralization by drilling in 2022, indicating the potential for future discoveries (Figure 2).
Figure 2: Simplified fault interpretations from geophysics and known target zones at Ranch with (A) alteration mapping, (B) silver in soils, (C) molybdenum in soils, (D) tungsten in soils, (E) arsenic in soils, (F) antimony in soils, (G) lead in soils, and (H) zinc in soils.
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 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 and 2022 drill programs, please click here and watch the videos on the project.
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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.
For further information:
Vice President, The Howard Group