Canadian Gold Corp (STRRF)

[NYBob]

Canadian Gold Corp. Phase 1 Exploration Program to Begin at Tartan Mine Main
Objective: Extend High-Grade Gold at Depth Property Wide Exploration Potential Outlined
Newsfile Corp.
Fri, May 12, 2023 at 7:21 AM EDT
In this article:

https://finance.yahoo.com/news/canadian-gold-corp-phase-1-112100308.html

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Toronto, Ontario--(Newsfile Corp. - May 12, 2023) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that its Phase 1 exploration program at the 100%-owned Tartan Mine near Flin Flon, Manitoba will begin on June 1, 2023. The Company is using this opportunity to highlight for shareholders the discovery potential on the property, specifically at the mine, and at its recently acquired projects adjacent to Agnico Eagle's Hammond Reef Gold Deposit (Ontario) and Barrick's Hemlo Gold Mine (Ontario). The Company plans to update shareholders in the coming weeks on its various initiatives designed to improve the economics of the Tartan Mine and its future advancement.

Phase 1 Exploration Program Summary

4,000 m drill program at the Tartan Mine to extend the high-grade gold mineralization of the Main Zone to depth below the current resource. The two deepest holes, drilled in 2021, intersected 23.8 gpt gold over 12.6 m, including 47.6 gpt gold over 5.8 m and 9.73 gpt gold over 4.15 m (Fig. 1 & 2).

Advance exploration targets near the mine's infrastructure to a drill ready stage. Numerous targets have been identified, including a possible southwest extension of the Tartan Mine, where drilling between 2003-2005 intersected 39.0 gpt gold over 0.85 m and 11.3 gpt gold over 2.7 m.

Fieldwork to commence in the second half of 2023 on the recently acquired Hammond Reef North/South and HEES Project (Hemlo area). Target areas for follow up exploration have been prioritized based on the 2022 results. The objective is to identify follow up targets for diamond drilling.