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Taiga Gold Corp
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Close 2018-11-07 C$ 0.075
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Taiga optionee SSR samples up to 22 g/t Au at Fisher

2018-11-07 09:25 ET - News Release

Also News Release (C-SSRM) SSR Mining Inc

Mr. Tim Termuende of Taiga Gold reports


Taiga Gold Corp. has been provided with an update on work completed up until the end of Q3 2018 at its 100-per-cent-owned Fisher property, located in east-central Saskatchewan. The work was financed and carried out by operator SGO Mining Inc., a wholly owned subsidiary of SSR Mining Inc. (formerly Silver Standard Resources Inc.), which is in the third year of a five-year option agreement, whereby SGO may earn up to an 80-per-cent interest in the 34,000-hectare property by completing $4-million in exploration expenditures and making $3.3-million in cash payments to Taiga. SSR Mining's expenditures to the end of Q3 2018 are approximately $4.1-million. The Fisher project is contiguous to the north, south and east with SSR Mining's Seabee gold operation.

Q3 2018 highlights:

  • Detailed mapping along Santoy shear zone identifies favourable Seabee/Santoy-type alteration and structure at Mac, Zone of Splays and Eisler Lake areas;
  • 203 rock samples collected, ranging from trace values to a high of 22.0 grams per tonne gold reported;
  • Soil geochemistry identifies new areas of interest at Mac, Footprint and Georges Lake, ranging from trace values to a high of 4.4 grams per tonne gold reported;
  • Construction of all-season access and Fisher camp completed; 10,416 metres of diamond drilling in 18 holes completed by end of Q3 with anomalous results returned; complete analytical results pending;
  • Diamond drilling at the Mac zone and Klucker trend under way.

Q3 2018 exploration summary

Geological mapping

The 2017 forest fires in the Fisher property area resulted in the discovery of discrete quartz vein structures, most notably in the Eisler Lake area ultramafic complex. The Bob vein, traced for over 100 metres along strike, is approximately two metres thick, heavily oxidized and contains up to 10 per cent sulphide mineralization. Along the western shore of Eisler Lake, two-metre-to-three-metre-wide quartz veins have been traced for up to 200 metres on the Dyl target.

Rock sampling

A total of 203 rock samples were collected for assay in 2018, including 18 one-metre chip samples at the Mac zone. The samples included quartz vein material and altered wallrock. Seven of the samples returned values greater than one gram per tonne gold, with a peak value of 22 grams per tonne gold at Granite Island in the Eisler Lake area.

Soil geochemistry

A total of 1,769 soils (including certified reference materials and field duplicates) were collected over five separate grids: (1) Santoy shear along Zone of Splays; (2) Santoy shear footwall (new Eisler veins including Bob vein); (3) Dyl veins; (4) George Lake; and (5) Footprint. The sample grids were designed to infill areas of interest identified from the more widely spaced soil and till sampling conducted in 2017 and also cover new areas of interest identified during mapping in 2018. The results highlight several anomalous trends that correspond to and extend historically identified and new areas of interest. Single-point and multipoint anomalies along the northern Santoy shear extension coincide with areas of high strain, alteration and veining identified on surface. Additionally, soil data in the hangingwall to the Santoy shear in this area indicate the possible presence of mineralization that will be followed up with additional soil grids and prospecting in 2019.

Diamond drilling

To the end of Q3 2018, a total of 10,416 metres of diamond drilling were completed in 18 widely spaced holes. The drilling was focused on testing first-pass targets identified along the Santoy shear zone extension, which traverses the entire 16-kilometre length of the Fisher property. Holes completed to date partially tested the Santoy shear zone extension and have intersected favourable lithologies, alteration and mineralization. Partial analytical results have been received and detailed results will be released when all of the analytical work is complete and results have been interpreted.

Drilling is currently under way at the Mac zone and along the Klucker trend utilizing two diamond drill rigs and is expected to comprise approximately 5,000 metres. The drill program is based out of the recently constructed all weather Fisher camp and is expected to be completed by early November.

Permit applications for a planned 2019 drill program have been submitted. All recently acquired data will be compiled with the existing database and interpreted to identify and prioritize drill targets for the winter 2019 program. SSR Mining is encouraged by the results of the work to date and looks forward to receiving the results of the season's work on the property.

Areas of exploration focus

Mac-Klucker zone

Infill and reconnaissance soil grids in the Mac zone area identified a continuous gold in soil anomaly 800 metres north and along strike of the Mac zone that is broken up by two small lakes. Taken together, the new northern area (Klucker target) and Mac forms a soil anomaly that is approximately 1.3 kilometres in length. Eighteen one-metre chip samples were taken at the Mac zone in 2018 and three of the samples returned values greater than one gram per tonne gold with a high of 6.7 grams per tonne gold.

Footprint Lake

In 2018, at a small grid along the northern extension of the historical Footprint showing, SGO found gold-in-soil anomalies along strike of the known mineralized showings, including a peak soil analyses of 4.4 grams per tonne gold. The high-grade sample, which was collected above a quartz vein in outcrop, is located approximately two kilometres north of the Footprint showings where Eagle Plains Resources Ltd.'s sampling previously returned 11.6 grams per tonne from a 2016 grab sample, extending the potential for mineralization in the area. Follow-up soil sampling, prospecting, mapping and drilling will be conducted in 2019.

Georges Lake

Soil geochemistry in 2018 identified two single-point anomalies on the northeast and southwest ends of the Georges Lake grid. This area hosts some of the highest-grade historical gold values on the Fisher property. These new soil data suggest mineralization could extend southwest along the Georges Lake fault. Additional surface work is warranted since historical prospecting by Eagle Plains has identified a 1.5-kilometre-long mineralized trend, with peak surface chip samples returning 8.7 grams per tonne gold over 7.8 metres in a folded quartz vein at the VG showing, plus numerous other showings such as BC Trench and King Fisher.

Taiga has not been able to independently verify the methodology and results from historical work programs within property boundaries. However, management believes that historical work programs have been conducted in a professional manner and the quality of data and the information produced from them are relevant. Grab samples are selective and may not be representative of the mineralization hosted on the property.

Quality assurance/quality control

Soil analytical work in 2018 was done by TSL Laboratories Inc. in Saskatoon, Sask. Soils are dried and screened through an 80-mesh sieve. The plus fraction is stored and the minus fraction used for analysis. A 30-gram sample is then analyzed for gold using fire assay/atomic absorption spectrometry techniques. Standards are inserted approximately every 20 samples as well as two pulp duplicates and one geological blank in every batch with FA/AA work.

Rock and drill core samples from 2018 were processed at SGO's Seabee gold operation laboratory facility using standard fire assay and screen metallic fire assay techniques.

Technical information in this news release has been reviewed and approved by C.C. Downie, PGeo, hereby identified as the qualified person under National Instrument 43-101.

About Taiga Gold Corp.

Taiga Gold was created through a plan of arrangement with Eagle Plains and owns five projects targeting gold in the area near the Seabee gold operation, which is owned and operated by SGO. Taiga's flagship Fisher property is currently being explored by SGO under option from Taiga.

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