Mr. Tim Coupland reports
TRANS CANADA GOLD HAS SUCCESSFULLY COMPLETED PHASE 1- DRILLING AT THE HARRISON LAKE DISTRICT SCALE GOLD PROJECT AND COMPLETES UPDATED UNDERGROUND MINE REFURBISHMENT
Trans Canada Gold Corp. has successfully completed its phase 1 underground drilling on Bear Mountain at the Harrison Lake gold project, located in southwestern British Columbia. Paradigm Drilling Ltd. of Kamloops, B.C., was the drill contractor for underground drilling at the Harrison Lake gold project. The company also completed an underground mine refurbishment and successfully passed a mine inspection by the British Columbia Ministry of Mines. All drill core is being safely secured and stored, catalogued and prepared for analysis, splitting and logging. The core will be analyzed for gold by the PhotonAssay method, which is now the standard method to analyze for high-grade, nuggety gold. Previous use of this assay method on the property has materially increased grades in the tested samples. This work will potentially increase the project's gold grade. All underground work and drilling was under the supervision of Carl von Einsiedel, PGeo, project manager.
In addition to drilling, the company has adopted the phased long-term investment approach, which requires updating facilities, and adopting a continuing refurbishment approach, which will allow for a responsible deployment of capital to invest in required infrastructure updates, required to unlock the projects long-term value. The company has successfully completed an underground mine refurbishment program, including the installation of updated electrical underground facilities and underground drill pad set-ups for future diamond drilling, and is now ready for the phase 2 diamond drilling program at the Harrison Lake gold project. Additional infrastructure upgrades are expected to rapidly optimize all underground drill set-ups, underground electrical facilities, underground access improvements and complete an upgraded an all-weather core shack/core-sawing facility, which is currently being utilized and preparing core for assaying. Phase 1 drilling was based on the project's previous successful historical drill programs targeting gold, focusing on expanding previously discovered gold zones, determining continuity and orientation, locating higher-grade extensions of mineralization, and preliminary testing of the remaining, untested mineralized and altered zones within the project areas. The Harrison Lake gold project is demonstrating the same geological characteristics as the Snowline gold deposit situated in the Tintina gold belt in Yukon.
Project fully permitted for underground drilling/2026 exploration and gold drilling strategy
Harrison Lake gold project is located in an advanced exploration and development setting, and is fully permitted for drilling and targeting identified known gold zones. Detailed drill planning for phase 2 and targeting are currently under way on the Harrison Lake gold project. The company is well positioned to capture and to capitalize on the forecasted stable and ascending gold prices:
- Phase 1 drilling -- targeting the highest-grade gold zone around intercept DDH-84-52: 102 metres grading 3.54 grams per tonne gold;
- Phase 2 drilling -- eight-hole drilling program targeting multiple high-grade gold zones: DDH 88-76, which intersected 7.0 metres averaging 21.4 grams per tonne, and DDH 88-121, which intersected 9.0 metres averaging 13.5 grams per tonne, are priority follow-ups.
The company currently has a non-compliant historical gold resource of 220,000 ounces of gold at the Harrison Lake gold project. These historic estimates are disclosed solely for context. The historic estimates do not conform to current National Instrument 43-101 standards, are not classified as current mineral resources or mineral reserves, and should not be relied upon. A qualified person has not done sufficient work to classify the historic estimates as current mineral resources or mineral reserves.
Gold targets identified for drilling and further exploration
The company has identified targets for further exploration:
- Two million to 10 million tonnes of gold-mineralized material;
- Grading between 1.0 gram per tonne and 5.0 grams per tonne gold.
This target for further exploration is based on the current geological understating and historical drilling and identified mineralization, over several widely spaced intrusions over more than two kilometres of strike length, and over a combined vertical elevation range of more than 700 metres.
The potential quantity and grade of this gold target for further exploration are conceptual in nature, and there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Harrison Lake district-scale gold project -- geological highlights -- gold intercepts
The Harrison Lake district-scale gold project is located in an advanced gold exploration and development setting, which is fully permitted for targeting identified and known gold zones, in the expectation of increasing its gold resource. Detailed drill planning is currently under way on the Harrison Lake gold project located on Bear Mountain. The company is now well positioned to capture and to capitalize on the forecasted ascending gold prices.
- The property covers a seven-kilometre strike length of the gold-rich Harrison Lake structural zone, with stockwork-type gold mineralization within diorite intrusions (Jenner and Portal zones), including DDH-84-52: 102 metres of 3.54 grams per tonne gold.
- The Jenner and Portal zones include DDH 88-76, which intersected 7.0 metres averaging 21.4 grams per tonne, and DDH 88-121, which intersected 9.0 metres averaging 13.5 grams per tonne.
- A corridor of similar diorite intrusions and gold-in-soil anomalies extends for more than two kilometres to the south of the original gold discovery. Follow-up drilling of some of these soil anomalies identified more diorite-hosted stockwork-type mineralization, including DDH 88-130, which tested the Hill zone and reportedly returned 30 metres averaging 3.0 grams per tonne.
- The style of mineralization is similar to the gold deposit model of the Tintina gold belt, which straddles the Yukon-Alaska border, and it has also been recognized that the mineralized diorite intrusions are localized along a regionally extensive shear zone adjacent to a large diorite batholith. Snowline Gold's recent discovery of the Valley deposit clearly demonstrates the potential of these types of occurrences.
Tim Coupland, president and chief executive officer, commented: "We are excited to have successfully completed phase 1 drilling at Harrison Lake, unlocking the significant gold potential for the expansion on the district-scale Harrison Lake gold project. British Columbia is rapidly being recognized as a Tier 1, jurisdictional and mining-friendly asset destination now, fast-tracking and advancing mining development projects and announcing billions in investments in an Ottawa/B.C. growth initiative favouring all Canadians. The company is currently reviewing and improving operating efficiency and lowering operating costs intended to maximize future drilling opportunities.
"The company is currently updating the high-quality GIS [geographic information system] database of exploration and drilling data available to our staff of seasoned mining professionals and underground diamond drillers delivering drill results. Trans Canada Gold and its geological team is now positioned to expand the district-scale gold potential of the property and to potentially confirm higher-average gold grades with modern assay methods. The company will embark on a program to accelerate investor awareness and branding of our unique gold opportunity in this precious metal supercycle."
Michael Magrum, exploration manager for the company and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical information used in this news release. The qualified person has not verified the mineralization hosted on adjacent and/or nearby and/or geologically similar properties and is not necessarily indicative of mineralization hosted on the company's properties.
About Trans Canada Gold Corp.
The company is a Canadian discovery-focused gold exploration company focused on acquiring and drilling advanced gold, silver and critical base metal mineral assets situated in Canada. The company is an oil and gas resource development exploration company that is currently focused on developing and drilling its production of conventional heavy oil exploration properties, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The company identifies, acquires and finances with its working interest partners the continuing development of oil and gas assets, primarily situated in Alberta, Canada. The company has qualified senior exploration mining management and oil and gas geological teams of professionals, seasoned in exploration production, field exploration and drilling. The company currently works with Croverro Energy Ltd., which has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multilateral wells currently under its supervision. The company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The company is committed to minimizing risk through selective property acquisitions and responsible exploration drilling and maximizing long-term gold and strategic mineral and petroleum and natural gas resource assets.
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