Thesis Gold Identifies Multiple New Epithermal Targets at Ranch
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2022) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) ("Thesis" or the "Company") is pleased to announce the results and preliminary interpretations from a 4.1 km2 induced polarization (IP) survey conducted over the Company's 100% owned Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada. The newly acquired IP data define numerous large, shallow anomalies that are coincident with previously identified anomalies in surface geochemistry, mapping, and ground magnetics defining new epithermal targets.
Highlights
- Numerous new epithermal targets identified at Alberts Hump with similar characteristics to drill-tested, high-grade mineralization at Bonanza, Thesis II, Thesis III, and Ridge prospects. These include:
- Coincident resistivity and chargeability highs associated with linear magnetic lows
- Strong spatial link between geophysical anomalies, observed bedrock alteration patterns, and anomalous epithermal pathfinder element concentrations in surface geochemistry
- Discrete IP anomalies with strike-lengths greater than 500 metres are consistent with regional northeast- and northwest structural controls on gold mineralization
- Large (>2 km) soil anomalies coincide with mapped silica and argillic alteration; some soil anomalies remain open along-strike
- Significant new discovery potential with no prior drilling over these target areas
- Much of the district-scale 180 km2 property remains underexplored, and the Company will continue to utilize these effective exploration tools to generate additional prospective targets
Ewan Webster, President, and CEO commented, "The company continues to generate new targets in the underexplored regions of the property, demonstrating the untapped discovery potential at Ranch. The strong agreement between the IP data, the mapping, geochemical, and ground magnetics provides us with increased confidence in these newly identified epithermal targets. Thesis is well funded for its 2022 program that will continue to focus on expanding known zones of mineralization and advancing new targets through the exploration pipeline."
A review of the acquired IP data is provided below in conjunction with surface geochemistry, ground magnetics, bedrock and alteration mapping, and high-resolution LiDAR datasets to produce highly prospective 2022 drill targets (Figure 1).
Figure 1: i) 2021 IP survey area and selected cross-section lines over antimony in soils ii) simplified fault interpretation and high-resolution ground magnetics
To view an enhanced version of Figure 1. i, ii, please visit:
https://orders.newsfilecorp.com/files/2191/111924_4595b88b0435db21_001full.jpg
Figure 1: iii) resistivity and chargeability section A-A'
To view an enhanced version of Figure 1. iii, please visit:
https://orders.newsfilecorp.com/files/2191/111924_4595b88b0435db21_002full.jpg
Thesis has previously characterized the geophysical response of historical gold mineralization zones within the 2007 IP survey (see releases dated April 8, 2021 and December 10, 2021). High sulphidation epithermal gold mineralization at Ranch manifests as coincident high resistivity (associated with pervasive silica alteration), moderate to high chargeability (associated with elevated sulphide content), and linear magnetic low (magnetic destruction associated with faults used as conduits for hydrothermal fluids) anomalies. This geophysical fingerprint is prevalent in the newly acquired 3DIP data from the IP survey area (Figure 1. iii). These geophysical anomalies also coincide with strong epithermal pathfinder element anomalism in surface geochemistry and mapped bedrock alteration. Mapped faults correspond to sharp gradients in the resistivity IP and are coincident with chargeability highs that may indicate elevated sulphide content in the hanging walls of the faults that are interpreted to be the conduits for gold-bearing hydrothermal fluids. The identified anomalies have never been drilled and represent strong opportunities for significant discovery.
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors
Thesis Gold Inc.
"Ewan Webster"
Ewan Webster Ph.D., P.Geo.
President, CEO and Director
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 km north of Smithers, B.C. For further details about the Ranch Gold Project and the 2021 drill program, please click here and watch the videos on the project.
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President
The Howard Group Inc.
Email: dave@howardgroupinc.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915
Nick Stajduhar
Director
Thesis Gold
Email: nicks@thesisgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111924