Thesis Gold Inc (TSX-V:TAU) has announced the discovery of a new zone of mineralization near the historic Bingo occurrence on its Ranch project in British Columbia, Canada – the fourth new discovery in the so-called Thesis’ “structural corridor” since the company’s first drilling program last year.
The company reported assays from five holes near Bingo, with one hole showing a length of 35.57 meters (m) from 132.43m depth, grading 1.30 grams per tonne (g/t) of d gold, 2.27 parts per million (ppm) silver and 0.32% copper. In this intersection of 35.57 m, there was also 11.13 m grading 2.74 g/t gold, 4.14 ppm silver and 0.45% copper.
“We are very pleased to have made another discovery within Thesis’ multi-kilometer structural corridor,” Thesis CEO Ewan Webster said in a statement.
“Surface work and drilling planning for the upcoming summer program is nearing completion, and we are very pleased to build on our successful 2021 and spring 2022 exploration programs with a substantial drill program of 50,000 meters designed to expand areas of known mineralization and test many potential exploration targets within the Ranch property area,” he added.
READ: Thesis Gold announces discovery of new western zone at Ranch gold-silver-copper asset in British Columbia
The Thesis structural corridor extends over 1.5 km and the drilling at Bingo coincided with a 17-hole source drilling program near the Thesis II and Thesis III occurrences.
All five holes testing conceptual epithermal targets hit gold mineralization, validating the company’s exploration strategy and the project’s potential, Thesis said. He also noted that high copper content was common in high sulphidation productive systems and could also indicate porphyry mineralization at depth.
Successful drilling campaigns in 2021 and spring 2022 indicate strong potential for additional discoveries in the upcoming drill program down to 50,000m at Ranch, he added.
The Company’s Ranch Gold Project is a 178 square kilometer road-accessible gold-silver-copper project in the prolific Golden Horseshoe region of north-central British Columbia, Canada.
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