Hong Kong and Calgary, Alberta--(Newsfile Corp. - June 8, 2021) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) ("Cassiar" or the "Company") is pleased to announce that it has commenced its 15,000 metre drilling program at its flagship Cassiar Gold project in British Columbia, Canada. With exploration crews onsite the Company has begun mobilization of two diamond drills. One drill rig has commenced drilling at the Taurus deposit in the North Cassiar area. All planned 2021 work is now permitted, and work at South Cassiar is expected to commence later this week.
"We are very pleased to begin this year's exploration program," stated Marco Roque, CEO of Cassiar Gold. "Over the last few months our technical team has been busy preparing a geological model at North and South Cassiar to define strategic targets. We are excited to kick off this campaign at our existing Taurus deposit in North Cassiar and to also focus on the South Cassiar targets which will be the first time the Company drills this high-grade target area."
Initial drilling at the Taurus deposit is planned to a) infill widely spaced areas where significant gold mineralization has been intersected with the aim to upgrade existing resources by defining better continuity of higher-grade mineralized areas, and b) since the deposit is open laterally in all directions, to test prospective corridors where better grade portions of the resource remain open. Historical results which will be followed up include thick intersections in the Taurus West area, where examples of widely spaced or open historical drilling to be followed up 2.4 g/t over 84 m in historical drill hole T95-29, which is separated from other holes to the south by over 100 m. Other examples include drill holes 20TA-119 (which intersected 1.78 g/t Au over 32.79 m: see release) and historical drill hole T95-13 (which intersected 3.05 g/t Au over 25.45 m) that define the southernmost holes of a significant gently plunging zone of mineralization that is open to the south, extensions of which will also be targeted during the program. Drilling in areas of widely spaced previous drill holes in 2020 successfully extended mineralization between drill holes, for example intersecting 5.43 g/t Au over 18.22 m in drill hole 20TA-116 in the Taurus Sable zone (see release) that define mineralization corridors at higher than resource grades.
Once drilling commences at South Cassiar it will target high-grade veins in the historically producing Bain/Cusac and Main Mine areas outward from previously mined veins. In addition, new areas are planned to be tested where veins remain open or favorable geology and vein periodicity suggest potential for new high-grade targets.
Qualified Person
The technical information in this news release has been reviewed and approved by Kaesy Gladwin, P.Geo., Cassiar Gold's Vice President of Exploration who is considered to be a Qualified Person as defined by National Instrument 43-101.
About Cassiar Gold Corp.
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) is a Canadian gold exploration company focused on projects in British Columbia and led by a team of highly successful business and technical executives. The Company's key asset, the Cassiar Gold Project, is a large, highly prospective, road-accessible gold property that encompasses the entire Cassiar gold mining district. It is host to a NI 43-101-compliant inferred resource estimate of 1M oz at 1.43 g/t Au at the Taurus bulk-tonnage gold deposit and has high potential for further discovery and expansion of bonanza grade orogenic gold veins in the past-producing Cassiar South area. Historical underground mining in the Cassiar south area yielded over 300,000 oz of Au at grades of between 10 and 25 g/t Au, underscoring the high-grade potential of the district. The Property hosts numerous gold showings, historical workings, and exploration prospects over a >15 km long and up to 10 km wide trend. It also has a fully permitted 300 TPD mill and tailings facility which could provide the potential for near term production if new and expanded high grade resources are defined in the areas of active mining leases that cover some of the most prospective parts of the South Cassiar area. Cassiar Gold acknowledges, respects, and supports the rights of Traditional First Nations in the lands and communities where we operate.
Forward Looking Statements
This press release may contain forward looking statements including those describing Cassiar's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Cassiar and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: regulatory conditions and the Company's ability to receive permits and regulatory approvals, mineral resource estimates and the assumptions underlying such estimates, and economic factors, business and operations strategies. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different from expectations. Although management of the Company has attempted to identify important factors that could cause actual results to differ, there is no assurance that these forward-looking statements will prove accurate or that actual results will not vary materially from such statements. These statements speak only as of the date of this release, and the Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
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 release.
CONTACT INFORMATION
Cassiar Gold Corp.
https://www.cassiargold.com
Marco Roque,
President, CEO & Director
+852 6691 6295
Marco@cassiargold.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86863
