CRANBROOK, BC / ACCESSWIRE / November 7th, 2018 / Taiga Gold Corp (CSE:"TGC") ("Taiga") has been providedwith an update on work completed up until the end of Q3 2018 at its 100%-ownedFisher Property, located in east-central Saskatchewan. The work was funded andcarried out by operator SGO Mining Inc. ("SGO"), a wholly-owned subsidiary of SSR Mining Inc.(formerly Silver Standard Resources Inc.) (TSX: SSRM) (NASDAQ: SSRM) who are in the third year of a five-year option agreementwhereby SGO may earn up to an 80% interest in the 34,000ha property bycompleting $4M in exploration expenditures and making $3.3M in cash payments toTaiga. SSRM expenditures to the end of Q3 2018 are approximately $4.1 M. TheFisher Project is contiguous to the north, south and east with SSRM's SeabeeGold Operation.
2018 Q3 Highlights
- Detailedmapping along Santoy shear zone identifies favorable Seabee/Santoy-typealteration and structure at Mac, Zone of Splays and Eisler Lake areas,
- 203rock samples collected, ranging from trace values to a high of 22.0g/t Aureported,
- Soilgeochemistry identifies new areas of interest at Mac, Footprint and GeorgesLake ranging from trace values to a high of 4.4 g/t gold reported,
- Construction of all-seasonaccess and Fisher camp completed,
- 10,416 meters of diamonddrilling in 18 holes completed by end of Q3 with anomalous results returned; completeanalytical results pending,
- Diamond drilling at theMac zone and Klucker trend underway.
A summary map outlining pertinent geologic features and project highlightsmay be found here.
2018 Q3 Exploration Summary:
The 2017 forest fires in the Fisher property area resulted in the discoveryof discrete quartz vein structures, mostnotably in the Eisler Lake area ultramafic complex. The Bob Vein,traced for over 100 m along strike, is approximately2 m thick, heavily oxidized and contains up to 10% sulphidemineralization.Along the western shoreof Eisler Lake 2-3m wide quartz veins have been traced for up to 200 m on theDyl target.
203rock samples were collected for assay in 2018 including eighteen 1m chipsamples at the Mac Zone. The samples included quartz vein material and alteredwallrock. Seven of the samples returned values greater than 1 g/t Au, with apeak value of 22 g/t Au at Granite Island in the Eisler Lake area.
Atotal of 1,769 soils (including certified reference materials and fieldduplicates) were collected over 5 separate grids: 1) Santoy Shear along Zone ofSplays, 2) Santoy Shear footwall (New Eisler Veins including Bob Vein) 3) DylVeins, 4) George Lake and 5) Footprint. The sample grids were designed toinfill areas of interest identified from the more widely spaced soil and tillsampling conducted in 2017 and also cover new areas of interest identifiedduring mapping in 2018. The results highlight several anomalous trends thatcorrespond to and extend historically- identified and new areas of interest.Single and multipoint anomalies along the northern Santoy shear extensioncoincide with areas of high strain, alteration and veining identified onsurface. Additionally, soil data in the hangingwall to the Santoy shear in thisarea indicate the possible presence of mineralization that will be followed upwith additional soil grids and prospecting in 2019.
To the end of Q3 2018 a total of 10,416 meters ofdiamond drilling were completed in 18 widely-spaced holes. The drilling wasfocused on testing first-pass targets identified along the Santoy shear zoneextension which traverses the entire 16km length of the Fisher property.Holes completed to date partially tested theSantoy shear zone extension and have intersected favourable lithologies,alteration and mineralization. Partial analytical results have been receivedand detailed results will be released when all of the analytical work iscomplete and results have been interpreted.
Drillingis currently underway at the Mac zone and along the Klucker trend utilizing twodiamond drill rigs and is expected to comprise approximately 5,000m. The drillprogram is based out of the recently-constructed all weather Fisher camp and isexpected to be completed by early November.
Permitapplications for a planned 2019 drill program have been submitted. All recentlyacquired data will be compiled with the existing database and interpreted toidentify and prioritize drill targets for the winter 2019 program.SSR Mining are encouraged by the results ofthe work to date and look forward to receiving the results of the season's workon the property.
Areas of Exploration Focus
Mac– Klucker Zone:
Infilland reconnaissance soil grids in the Mac Zone area identified a continuous goldin soil anomaly 800 meters north and along strike of the Mac Zone that isbroken up by two small lakes. Taken together, the new northern area (Kluckertarget) and Mac forms a soil anomaly that is approximately 1.3 kilometers inlength. Eighteen 1m chip samples were taken at the Mac Zone in 2018 and three ofthe samples returned values greater than 1 g/t Au with a high of 6.7g/t Au.
In2018, a small grid along the northern extension of the historic Footprint Showing[ ] SGO found gold-in-soil anomalies along strike of the known mineralizedshowings, including a peak soil analyses of 4.4g/t Au. The high-grade sample,which was collected above a quartz vein in outcrop, is located approximately 2km north of the Footprint showings where Eagle Plains' sampling previouslyreturned 11.6 g/t from a 2016 grab sample, extending the potential formineralization in the area. Follow up soil sampling, prospecting, mapping anddrilling will be conducted in 2019.
2018soil geochemistry identified two single point anomalies on the northeast andsouthwest ends of the Georges Lake grid. This area hosts some of the highestgrade historical gold values on the Fisher property. This new soil datasuggests mineralization could extend southwest along the Georges Lake fault. Additionalsurface work is warranted since historic prospecting by EPL has identified a1.5km long mineralized trend, with peak surface chip samples returning 8.7 g/tover 7.8m in a folded quartz vein at the VG showing, plus numerous othershowings such as the BC Trench and King Fisher.
Taiga has not been able to independently verify themethodology and results from historical work programs within propertyboundaries. However, management believes that historical work programs havebeen conducted in a professional manner and the quality of data and informationproduced from them are relevant. Grab samples are selective and may not berepresentative of the mineralization hosted on the property.
QualityAssurance / Quality Control
2018soil analytical work was done by TSL Laboratories Inc. in Saskatoon, SK. Soilsare dried and screened through 80 mesh sieve. The plus fraction is stored andthe minus fraction used for analysis. A 30gsample is then analysed for gold using Fire Assay/Atomic AbsorptionSpectrometry techniques. Standards are inserted approximately every 20 samples,as well as two pulp duplicates and one geological blank in every batch withFA/AA work.
2018rock and drill core samples were processed at SGO's Seabee Gold Operationlaboratory facility using Standard Fire Assay and Screen Metallic Fire assaytechniques.
Technicalinformation in this news release has been reviewed and approved by C.C. Downie,P.Geo., hereby identified as the "Qualified Person" under N.I. 43-101.
About Taiga Gold Corp
Taiga Gold Corp was created through a plan of arrangement with Eagle PlainsResources Ltd. and owns 5 projects targeting gold in the area near the SeabeeGold Operation, owned and operated by SGO.Taiga's flagship "Fisher"property is currently being explored by SGO under option from Taiga.
Taiga's objective is to focus on the exploration and development of itsgold projects located adjacent to the Seabee Gold Operation and along theTabbernor Fault structure in eastern Saskatchewan, a highly-prospective miningjurisdiction which was recently recognized by the Fraser Institute as thesecond-best place in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintainprosperous communities by exploring for and discovering resource opportunitieswhile building lasting relationships through honest and respectful businesspractices.
On behalf of the Boardof Directors
"Tim J. Termuende"
President and CEO
For furtherinformation on TGC, please contact Mike Labach at
1 866 HUNT ORE (4868673)
Email: email@example.com or visit our websiteat http://taigagold.com
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE norany other regulatory body has reviewed or approved the contents of this newsrelease. This news release may contain forward-lookingstatements including but not limited to comments regarding the timing andcontent of upcoming financings, work programs, geological interpretations,receipt of property titles, potential mineral recovery processes, etc.Forward-looking statements address future events and conditions and therefore,involve inherent risks and uncertainties. Actual results may differ materiallyfrom those currently anticipated in such statements.
SOURCE:Taiga Gold Corp
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