Thesis Gold adds second drill to Ranch
2021-08-30 09:47 ET - News Release
Mr. Ewan Webster reports
THESIS GOLD INTERSECTS VISIBLE GOLD AND ADDS SECOND DRILL RIG AT RANCH
Thesis Gold Inc. has provided an update on its continuing 2021 exploration program at its Ranch gold property in Northern British Columbia. The initial drilling, which began in early August, has proven successful by confirming consistency with historical high-grade drill intercepts, and is exhibiting sulphide and visible gold. Also, the exploration program has added an additional diamond drill rig at the Ranch gold-copper project, bringing the number of drill rigs on site to two. Soil sampling and rock prospecting campaigns are nearing completion, geophysical surveys are progressing and sample shipments are continuing with early drill results expected in the coming weeks.
To date, drilling has focused on confirmation and infill holes at the high-grade Bonanza zone and will progress to high-priority exploration targets in the near-term with the addition of a second drill rig.
Exploration program update
Drilling
Initial drilling at Bonanza has intersected broad zones of vuggy silica and intense quartz-alunite alteration with coincident abundant sulphides consistent with historical high-grade intercepts.
Hole 21BNZDD001 encountered vuggy silica, barite, sulphides and visible gold between 26 and 29 metres (hole depth), within a broader, approximately 60-metre interval of vuggy silica to quartz-alunite alteration with up to 20 per cent sulphide content locally. Sample assay results are anticipated to be received in the coming weeks.
Geophysics
Ground-based induced polarization (IP) geophysics have been initiated at the Albert's Hump area.
Albert's Hump features a large silica cap exposure consistent with a high-level epithermal or porphyry target, and IP will be instrumental in delineating zones of potential mineralization at depth.
In addition, the IP will be conducted over the Patti, Steve's and Bloss zones. These zones share the same characteristics as Albert's Hump.
Ground magnetics are nearing completion.
The initial program of 160 line kilometres of ground magnetics has been completed. Thesis is expanding this program with an additional approximately 260 line kilometres to resolve newly generated target areas.
Soil and rock sampling
To date, 6,151 soil sample have been collected. Additional soil sampling is planned to cover newly identified zones of alteration.
674 rock samples have been collected to date from over 20 targets.
Ewan Webster, president and chief executive officer, commented: "The program is off to an incredible start and we are extremely pleased with the overall progress. Initial drilling has presented us with some spectacular visible gold and we look forward to sharing the assays in the next couple of weeks as they become available. The addition of our second drill rig will help accelerate us towards our ambitious 20,000-metre drill program."
The technical content of this news release has been reviewed and approved by Michael Dufresne, MSc, PGeol, PGeo, a qualified person as defined by National Instrument 43-101.
About Thesis Gold Inc.
Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch gold project located in the Golden Horseshoe area of Northern British Columbia, approximately 300 kilometres north of Smithers, B.C.
We seek Safe Harbor.
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