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Cassiar Gold Corp
Symbol GLDC
Shares Issued 60,179,767
Close 2021-11-22 C$ 0.99
Recent Sedar Documents

Cassiar Gold drills 23.2 m of 3.56 g/t Au at Cassiar

2021-11-22 07:44 ET - News Release

Mr. Marco Roque reports

CASSIAR GOLD INTERSECTS 23.2 M OF 3.56 G/T AU, 13.1 M OF 3.53 G/T AU AND 37.8 M OF 1.8 G/T AU FROM BULK-TONNAGE TAURUS DEPOSIT AT CASSIAR NORTH

Cassiar Gold Corp. has released assay results from an additional four diamond drill holes at the Taurus deposit located in the Cassiar North project area of the company's flagship Cassiar gold property in Northern British Columbia, Canada. The Taurus deposit hosts a near-surface, bulk-tonnage inferred gold resource of one million ounces grading 1.43 grams per tonne gold. These new results confirm the occurrence of continuous zones of higher-grade, near-surface (less than 100 m vertical depth) gold mineralization in the central portion of the Taurus deposit known as the 88 Hill and Gap zones.

Highlights:

  • Drill hole 21TA-129 intersected 23.2 metres of 3.56 g/t Au from 16.9 to 40.1 m downhole.
  • Drill hole 21TA-125 intersected multiple intervals:
    • 13.1 m of 3.53 g/t Au from 123.4 to 136.4 m downhole, including 0.5 m of 51.70 g/t Au;
    • 37.8 m of 1.80 g/t Au from 70.2 to 108.0 m downhole, including 1.1 m of 23.40 g/t Au;
    • 52.3 m of 1.16 g/t Au from 9.9 to 62.2 m downhole, including 1.7 m of 8.11 g/t Au.
  • Drill hole 21TA-126 intersected 3.5 m of 3.38 g/t Au from 51.5 to 55.0 m downhole and 22.9 m of 0.91 g/t Au from 102.0 to 124.9 m downhole including 11.7 m of 1.48 g/t Au.

"Our expectations continue to be exceeded by the 2021 drill campaign at the Taurus deposit with these outstanding near-surface results," said Marco Roque, chief executive officer of Cassiar Gold. "We are hitting gold in every drill hole with nearly all holes returning higher-than-resource-grade intercepts. These results serve as further validation that the Taurus deposit is an exceptionally robust bulk-tonnage resource that merits greater market recognition, and we are eager to release results from the remaining seven holes from the program in the coming weeks."

Cassiar North 2021 drill program at Taurus deposit

The Cassiar North 2021 drill program focused on the Taurus deposit and consisted of 15 drill holes totalling 4,098 m targeting the 88 Hill, Gap, West, Southwest and Northwest zones of the deposit. The drill program, which was completed from early June to mid-August, was designed to define higher-grade mineralized areas where historical drilling from the 1990s is widely spaced (about 100 m apart) as well as to confirm historical grades and collect additional structural data for use in updated modelling work. The deposit remains open in most directions and successful target concepts are being reviewed for advancement in coming drill programs.

The 2021 drill campaign began with infill drilling at the 88 Hill zone to confirm historic gold grades, test gaps in the resource model, better define mineralization shapes, and provide oriented structural data for interpretation and modelling work. Drilling was north directed to collect near-surface data along the southern edge of the deposit and results are discussed below.

88 Hill zone:

  • 21TA-125 was a north-directed confirmation/infill drill hole spaced 35 m from two historical parallel drill holes and crossed several south-directed drill holes that were also on section. The hole intersected several broad intervals of gold mineralization over a drill length of approximately 125 m, including 52.3 m of 1.16 g/t Au, 37.8 m of 1.80 g/t Au and 13.1 m of 3.53 g/t Au, as well as noteworthy narrow high-grade veins that returned up to 51.70 g/t Au over 0.5 m. Results from this hole further validate data from the company's 2019 National Instrument 43-101 resource estimate and will contribute to work in upgrading the resource.
  • 21TA-126 was an infill drill hole located in a 75 m gap between historical drill holes along the southern margin of the 2019 NI 43-101 resource 0.5 g/t Au grade shell. Results of 3.5 m of 3.38 g/t Au and 22.9 m of 0.91 g/t Au, including 11.7 m of 1.48 g/t Au, are consistent with the resource estimate model and suggest higher potential for southward extension of the deposit to the west and east.
  • 21TA-129 was a north-directed drill hole located 40 m from parallel historical drill holes to test an undrilled area updip from previous drilling and crossed several historical on-section drill holes. Near-surface mineralization above the levels of historical drill holes returned 23.2 m of 3.56 g/t Au, which included 1.1 m of 11.20 g/t Au. This shallow intercept, located 20 m south of the previously modelled high-grade zones at Taurus, indicates that near-surface mineralization remains laterally open and will provide the basis for updated modelling in this area.

Gap zone

The Gap zone is an area of sparse historical drilling where gold mineralization was identified during the 2020 drill campaign. Drill hole 21TA-127 was drilled this year to infill a 100 m east-west and 200 m north-south gap between historical holes and intersected 6.0 m of 1.55 g/t Au, 15.6 m of 1.08 g/t Au and 26.4 m of 0.84 g/t Au. These grades are consistent with Taurus deposit grades and suggest the potential for future infill drilling in this area to expand the resource.

While true thickness has not been established and mineralization shapes can vary, based on the steep dip of gold-bearing veins and surrounding pyritic mineralization within mineralized corridors, drilling lengths for the reported mineralization in these drill holes are estimated to be 60 to 70 per cent of true thickness.

2021 full drill campaign and assay results update

The company concluded its full 2021 drill campaign covering both the Cassiar North and Cassiar South project areas on Nov. 1. A total of 34 drill holes over 11,288 m were completed during the program, including 15 drill holes over 4,098 m within or proximal to the Taurus deposit at Cassiar North, and 19 holes over 7,000 m targeting high-grade vein systems at Cassiar South.

At Cassiar North, additional assay results for the remaining seven unreported drill holes are pending and will be released as they are received and reviewed by the company. At Cassiar South, results remain pending for 13 drill holes that have been completed at the East Bain, Cusac, Hot and Vollaug veins.

            SIGNIFICANT RESULTS FROM THE 88 HILL AND GAP 
            ZONES BASED ON A GREATER-THAN-0.5 G/T CUT-OFF

Drill hole                 From           To      Length*               Grade
                            (m)          (m)          (m)            (g/t Au)

21TA-125                   9.94        62.21      52.27 m         1.16 g/t Au
incl.                     22.03        22.50       0.47 m        11.60 g/t Au
and                       27.97        29.69       1.72 m         8.11 g/t Au
and                       57.07        57.50       0.43 m        10.90 g/t Au
                          70.16       108.00      37.84 m         1.80 g/t Au
incl.                     76.00        77.13       1.13 m        23.40 g/t Au
and                       90.18        97.82       7.64 m         2.33 g/t Au
                         123.35       136.42      13.07 m         3.53 g/t Au
incl.                    123.35       124.25       0.90 m        14.50 g/t Au
and                      129.56       130.04       0.48 m        51.70 g/t Au
21TA-126                  51.50        54.96       3.46 m         3.38 g/t Au
                         102.00       124.88      22.88 m         0.91 g/t Au
incl.                    113.14       124.88      11.74 m         1.48 g/t Au
21TA-129                  16.91        40.07      23.16 m         3.56 g/t Au
incl.                     27.00        28.00       1.00 m         9.10 g/t Au
and                       33.20        34.29       1.09 m        11.20 g/t Au
                          57.23        70.12      12.89 m         1.04 g/t Au
                          81.00        88.70       7.77 m         0.65 g/t Au
                         104.80       114.14       9.34 m         0.66 g/t Au
21TA-127                  10.00        21.80      11.80 m         0.65 g/t Au
                          38.70        54.31      15.61 m         1.08 g/t Au
incl.                     45.39        46.27       0.88 m         9.83 g/t Au
                          86.96        93.00       6.04 m         1.55 g/t Au
                         210.28       236.63      26.35 m         0.84 g/t Au

* Drill core lengths are reported here. True widths for these intervals have 
not been established.

Qualified person

The technical information in this news release has been reviewed and approved by Kaesy Gladwin, PGeo, Cassiar Gold's vice-president of exploration, who is considered to be a qualified person as defined by National Instrument 43-101.

Quality assurance and quality control

The 2021 Cassiar drilling program comprises HQ drill core oriented using the Reflex Act III system. Drill core samples selected and analyzed are logged and then cut in half using a diamond cutting saw, in a secure core storage facility located in Jade City, B.C. Certified gold reference standards and blanks are routinely inserted into the sample stream as part of the company's QA/QC program. All samples are delivered to the SGS Canada preparation facility in Whitehorse, Yukon, where they are processed and then shipped to the SGS Canada analytical facility in Burnaby, B.C. Samples are analyzed for gold by 50-gram fire assay with finish by atomic absorption or gravimetric methods. Screen metallic analysis is performed on selected samples. SGS Canada's quality systems and technical aspects conform to requirements of International Organization for Standardization/International Electrotechnical Commission Standard 17025 guidelines.

About Cassiar Gold Corp.

Cassiar Gold is a Canadian gold exploration company holding a 100-per-cent interest in its flagship Cassiar gold property located in British Columbia, Canada. The Cassiar gold property spans 590 square kilometres and consists of two main project areas: Cassiar North, which hosts a National Instrument 43-101-compliant inferred resource estimate of one million ounces at 1.43 g/t Au (cut-off grade of 0.7 g/t) known as the as the Taurus deposit (see National Instrument 43-101 technical report on the Cassiar gold property, amended Nov. 12, 2019, by S. Zelligan, posted to SEDAR); and Cassiar South, which hosts numerous gold showings, historical workings and exploration prospects over a greater-than-15-kilometre-long and up-to-10-kilometre-wide trend. Historical underground mines in the Cassiar South area have yielded over 300,000 ounces of Au at grades of between 10 and 25 g/t Au (B.C. Minfile), underscoring the high potential for further discovery and expansion of bonanza-grade orogenic gold veins.

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