Cassiar Gold Corp. (TSXV:GLDC) (OTCQX:CGLCF) reports initial assays of 2022 program at Taurus East, intersecting 1.50 g/t Au over 22.2 meters and 4.47 g/t Au over 10.5 meters. The company’s 100% owned flagship Cassiar Gold Property spans 590 square kilometers. Cassiar North hosts the Taurus Deposit, with a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au with a cutoff grade of 0.5 g/t Au, dated April 2022.
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Cassiar Gold Corp. (TSXV:GLDC) (OTCQX:CGLCF), a Canadian gold exploration company, released assay results from the ongoing drill program at its Taurus Deposit located in the Cassiar Gold Property in northern British Columbia, Canada.
The company’s 100% owned flagship Cassiar Gold Property spans 590 square kilometers.
The company also holds a 100% interest in the Sheep Creek gold camp located near Salmo.
The Sheep Creek gold district ranks as the third largest past-producing orogenic gold district in BC with historical gold production of 742,000 ounces gold at an average grade of 14.7 g/t gold from 1900 to 1951.
The Cassiar Gold property consists of two main project areas.
Cassiar North hosts the Taurus Deposit, with a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au with a cutoff grade of 0.5 g/t Au, dated April 2022.
Cassiar South hosts numerous gold showings, historical workings, and exploration prospects.
Historical underground mines in the Cassiar South area have yielded over 315,000 oz of Au at average head grades of between 10 and 20 g/t Au, underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.
The ongoing 2022 Cassiar North Drill Program, which started on June 1st, has been largely focused on the Taurus Deposit area where 32 drillholes totaling 10,180 meters have been completed so far this season.
With two active drill rigs at Cassiar North and one active rig at Cassiar South, more than 18,000 meters of drilling and 46 drillholes have been completed across the property in 2022.
Six of seven drillholes reported today aimed to expand the mineralization both northward and southward in the area of the past-producing Taurus Mine at the far east area of the Taurus deposit, while evaluating the interpreted Decline Fault model.
The Taurus East mineralization model shown in orange represents upside for expansion of the deposit and was not included in the 2022 Taurus resource model shown in pink.
Today’s highlights include drillhole 22TA-142 which intersected 22.2 meters of 1.50 g/t Au from 129.8 meters downhole, including 0.75 meters of 9.61 g/t Au, extending known mineralization northward in the hangingwall of the Decline Fault.
Drillhole 22TA-146 intersected 10.5 meters of 4.47 g/t Au from 12.9 meters downhole, including 3.3 meters of 11.1 g/t Au with 0.5 meters of 45.30 g/t Au.
All drillholes reported today intersected multi-meter intercepts of gold mineralization above the 0.5 g/t Au cutoff grade of the 2022 Inferred Mineral Resource at Taurus, including up to 700 meters east and 450 meters south of modeled grade shells.
This vertical section shows hole 22TA-142 at Taurus East, looking northwest with the Taurus East mineralization model in orange for reference.
The Taurus East mineralization model was generated from an internal mineralization model and is independent of the 2022 inferred resource model.
The current program is projected to be completed during the month of October where projections for drill production may allow for the program to exceed 20,000 m of drilling.
This table shows the significant 2022 drilling results from Taurus East based on a >0.5 g/t cutoff.
Marco Roque, CEO, stated: "Initial reports from our 2022 drill program at the Taurus Deposit have delivered strong first results and highlight an important potential for expanding the deposit well beyond the extents of the current resource. Our programs to date coupled with these results provide new insight for our targeting and open up sizeable areas for additional exploration. Our 2022 drill program is our largest drilling campaign to date, and we look forward to reporting additional results in the coming weeks."
The shares are trading at $0.66.
For more information, please visit the company’s website www.CassiarGold.com, contact Marco Roque, CEO at 236-878-6160 or by email at ir@CassiarGold.com.
