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Cassiar Gold Corp
Symbol GLDC
Shares Issued 62,455,568
Close 2022-01-11 C$ 1.05
Recent Sedar Documents

Cassiar Gold drills 46.5 m of 1.12 g/t Au at Cassiar

2022-01-12 07:35 ET - News Release

Mr. Marco Roque reports

CASSIAR GOLD INTERSECTS 46.5 M OF 1.12 G/T AU, 119.0 M OF 0.72 G/T AU AND 150.7 M OF 0.65 G/T AU FROM BULK-TONNAGE TAURUS RESOURCE AT CASSIAR NORTH

Cassiar Gold Corp. has released assay results from the final three diamond drill holes of its 2021 drill program at the Taurus deposit located in the Cassiar North area of the company's flagship Cassiar gold property in Northern British Columbia, Canada. Taurus is host to a near-surface, bulk-tonnage inferred gold resource of one million ounces grading 1.43 grams per tonne gold. All three holes returned substantial intervals of gold mineralization from surface in the southwestern portion of the deposit, including a stepout drill hole located over 100 m from the resource model, which significantly expands the deposit footprint and further indicates that mineralization is open to the south. The company will host an investor webinar to discuss the full program results on Tuesday, Jan. 18, at 12 p.m. Eastern Standard Time (more details below).

Highlights:

  • Drill hole 21TA-139, a stepout hole located 100 metres south of the resource model, intersected 150.7 m of 0.65 g/t Au from 11.0 m downhole, including 5.6 m of 2.47 g/t Au and 9.3 m of 1.40 g/t Au.
  • Drill hole 21TA-137 intersected 119.0 m of 0.72 g/t Au from 21.3 m downhole, including 4.8 m of 3.71 g/t Au.
  • Drill hole 21TA-138 returned 46.5 m of 1.12 g/t Au from 12.7 m downhole, including 0.69 m of 18.80 g/t Au.

"These promising results cap off a drill campaign that has delivered exceptional intercepts in nearly every hole drilled across the Taurus deposit," stated Marco Roque, president and chief executive officer of Cassiar Gold. "We are thrilled to hit such an extensive interval of gold mineralization right from surface in a 100 m stepout hole, which opens the resource for further expansion to the south, and we are eager to return with a larger drill campaign in 2022. We also look forward to the timely reporting of results from 13 holes at Cassiar South where exploration has been aimed at testing multiple high-grade gold vein targets."

"The 2021 Taurus drill program continues to indicate that much of the deposit is open beyond the limits of historical drilling that were previously confined by claim boundaries held by different owners. With the district now consolidated under Cassiar Gold's ownership, these limitations have been removed," stated David Rhys, senior technical adviser for Cassiar Gold. "Building upon the success of the 2021 program, the company plans to take a more aggressive approach in exploring the Taurus deposit in 2022. This will include stepping out well beyond the existing resource and defining higher-grade corridors within the known areas of the deposit to upgrade the existing resource base, as has been successfully achieved with our 2021 drill results."

Investor webinar details

The company will host an investor webinar to discuss the significance of the 2021 Cassiar North drill results and their impact on future exploration work at the Taurus deposit. Both Mr. Roque and Mr. Rhys will present during the webinar and the presentation will be followed by a question-and-answer session. Details are below:

Date:  Tuesday, Jan. 18, 2022

Time:  9 a.m. Pacific Standard Time/10 a.m. Mountain Standard Time/12 p.m. Eastern Standard Time

A replay will be available on YouTube within 24 hours of the live webinar. Please submit any questions for the Q&A session to adina@emarcap.com before or during the event.

2021 Cassiar North drill program at Taurus deposit

Completed between early June and mid-August, 2021, the Cassiar North drill program focused on the Taurus deposit and consisted of 15 drill holes totalling 4,098 m targeting the 88 Hill, Gap, northwest, west and southwest areas of the deposit. The program was designed to define and confirm higher-grade mineralized areas where historical drilling was widely spaced (about 100 m apart), collect additional structural data for use in updated modelling work, and to test the potential for expansion of the deposit footprint. All objectives were successfully achieved with most infill drill holes intersecting higher-than-resource-grade mineralization within the resource grade shell and expansionary drill holes confirming the potential for the resource to expand both laterally and at depth.

The 2021 drill campaign in the southwestern portion of the Taurus resource was planned to confirm historic gold grades and mineralization shapes, investigate potential structural controls including the Taurus West fault, and providing oriented structural data for interpretation and modelling work that will be the foundation for the company's 2022 exploration program. Results are discussed below:

  • 21TA-137 was a north-directed drill hole that targeted a greater-than-100-metre open area between historical drill holes along the Taurus West fault. The drill hole intersected 119.0 metres of 0.72 gram per tonne gold starting from 21.3 m downhole and included 4.8 m of 3.71 g/t Au. The distribution of gold mineralization both confirms and expands upon the 2019 resource model shape in this area.
  • 21TA-138 was a north-directed drill hole designed to test a 90 m gap between historical drill holes along the Taurus West fault. Results returned 46.5 m of 1.12 g/t Au from 12.7 m downhole and included 0.7 m of 18.80 g/t Au. Multiple broad mineralized intercepts confirmed the continuity of mineralization within the resource shape and identified potential areas for expansion.
  • 21TA-139 was a northwest-directed stepout drill hole intended to test mineralization along the north-trending Taurus West fault corridor while also testing the east-west mineralization trend that is dominant in much of the Taurus deposit. The hole was located 100 m south of the resource grade shell and tested a 130 m gap between historical drill holes. The drill hole intersected 150.7 m of 0.65 g/t Au from 11.0 m downhole, successfully expanding mineralization to the south.

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, 2021. A total of 11,289 m of drilling were completed in 34 drill holes during the program, including 4,098 m in 15 drill holes within or proximal to the Taurus deposit at Cassiar North and 7,191 m in 19 holes targeting high-grade vein systems at Cassiar South.

All assay results have now been received from 2021 drilling at Cassiar North and results remain pending for 13 holes at the Cassiar South project for the East Bain, Cusac, Hot and Vollaug veins.

         SIGNIFICANT RESULTS FROM THE SOUTHWEST ZONE BASED ON 
                   A GREATER THAN 0.5 G/T CUT-OFF

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

21TA-137              21.28      140.31       119.03 m      0.72 g/t Au
incl.                121.18      126.00         4.82 m      3.71 g/t Au
incl.                124.27      124.94         0.67 m     14.30 g/t Au
                     177.00      186.62         9.62 m      0.59 g/t Au
                     213.07      217.24         4.17 m      0.69 g/t Au
21TA-138              12.73       59.20        46.47 m      1.12 g/t Au
incl.                 17.96       18.65         0.69 m     18.80 g/t Au
                      81.00      126.23        45.23 m      0.61 g/t Au
incl.                117.00      125.19         8.19 m      1.45 g/t Au
                     140.08      179.23        39.15 m      0.71 g/t Au
incl.                170.25      171.00         0.75 m      8.21 g/t Au
21TA-139              11.03      161.71       150.68 m      0.65 g/t Au
incl.                 44.20       53.51         9.31 m      1.40 g/t Au
and                  108.21      113.79         5.58 m      2.47 g/t Au
                     192.15      207.05        14.90 m      0.81 g/t Au
incl.                200.57      207.05         6.48 m      1.34 g/t Au
                     304.56      308.70         4.14 m      0.50 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 (QA) and Quality Control (QC)

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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