Taiga Gold shares up on Fisher drill results

Exploration camp at Fisher before the 2017 burn. Credit: Taiga Gold Corp.

Taiga Gold (CSE: TGC) has received a report from SSR Mining (TSX, NASDAQ: SSRM) containing partial drill results for the Q1 2020 drill program on the Fisher property, which is wholly owned by Taiga and under option to SSRM.

The Fisher project is located 125 km east of La Ronge, Saskatchewan, contiguous to the north, south and east with SSR's Seabee Gold Operation.

This year, SSR plans to invest over C$5 million in exploration on the Fisher property

Drilling was completed in late March and consisted of 31 diamond drill holes for a total of 9,463 metres. Four showing areas were tested during the winter 2020 program, with high-grade mineralization discovered in three separate areas and visible gold reported in five holes. Results are pending for eight additional holes.

At the Yin zone adjacent to the Seabee Gold Operation boundary, drilling results were highlighted by 13.74 g/t gold over 2.29 metres, including 55.5 g/t gold over 0.53 metre.

A new discovery was also made at the Mac North Hanging Wall showing, with 16.80 g/t gold over 0.50 metre. Drilling at Abel Lake returned 12.13 g/t gold over 1.5 metres.

Since optioning the property in 2015, SSR has completed extensive systematic exploration including prospecting, soil geochemical sampling, detailed geological mapping and geophysical surveys, with 31,071 metres of drilling in 79 holes completed so far at a total cost of approximately C$10.3 million.

This year, SSR plans to invest over C$5 million in exploration on the Fisher property with programs designed to target a mineral resource discovery.

Shares of Taiga Gold were up 13.3% at Thursday's close. The Cranbrook-based mining junior has a market capitalization of C$13.5 million.