Cassiar Gold Reports Remaining 2021 Cassiar South Drill Resu Cassiar Gold Reports Remaining 2021 Cassiar South Drill Results; Expands Known High-Grade Mineralization at Bain Vein
Calgary, Alberta--(Newsfile Corp. - May 19, 2022) -
Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (the "Company" or "Cassiar Gold") is pleased to announce assay results for the remaining 13 drillholes completed at the Cassiar South project area as part of its 2021 diamond drill program at the Company's flagship Cassiar Gold Property located in British Columbia, Canada. The Cassiar South project area hosts a multitude of shear vein targets and several past-producing underground mines that have historically produced over 315,000 ounces of gold grading between 10 to 20 g/t Au
[1].
Summary & Highlights: - The Cassiar South drill program targeted lateral and down-dip extensions of known or previously mined veins as well as areas where favourable geology and vein periodicity suggest potential for the discovery of new high-grade veins.
- Of the 13 holes reported in this press release, 12 intersected gold-bearing quartz veins containing anomalous to high-grade gold at four vein system targets: Bain, Cusac, Bridge and Hot.
- Drill results from the Bain vein system suggest a mineralized trend of over 470 m in strike length beyond historical workings with intercepts of 2.4 m of 11.89 g/t Au, including 0.6 m of 42.40 g/t, from hole 21EB-303; and 4.6 m of 3.27 g/t Au from Drillhole 21EBX-101.
- Drilling at the Cusac vein encountered 3.2 m at 4.65 g/t Au, including 1.3 m at 10.71 g/t Au in Drillhole 21CU-401A. This intercept forms part of an unmined vein which lies adjacent to the former Cusac mine workings.
- All vein systems hold significant potential for higher grade gold discoveries with continued lateral expansion of mineralization as well as extension of mineralization at depth. The Company plans to drill 5,000 m at Cassiar South in 2022 to target new parallel and stacked vein systems.
"The Cassiar South project area hosts multiple unmined veins close to historical workings and the 2021 program successfully confirmed our understanding of the critical structures that control the distribution of gold mineralization with 18 out of 19 drillholes hitting quartz veins containing anomalous to high-grade gold," stated Marco Roque, President and CEO of Cassiar Gold. "We are thrilled to have expanded known gold mineralization along strike at the Bain vein, particularly given the fact that the area is covered by an existing mining lease and is close to our permitted 300 tpd mill and tailings facility. Success in defining new resources in upcoming campaigns will provide us the opportunity for a low-cost and near-term development opportunity."
"The Cassiar South project area remains one of the most fascinating and exciting aspects of the overall Cassiar Gold Property for its potential to host high-grade vein systems, which is complemented by our foundational and highly prospective bulk-tonnage Taurus deposit to the north. As such, we are keen to embark on our most ambitious exploration program to date with a 20,000 m drill campaign across the property that will begin in June."
Cassiar South 2021 Drill Results Summary The Cassiar South project area of the Cassiar Gold Property hosts a multitude of shear vein targets and several past-producing underground mines that have historically produced over 315,000 ounces of gold grading between 10 to 20 g/t Au. Individual vein targets have been known to host between 30,000 to 60,000 ounces of gold, with some vein clusters containing up to 120,000 ounces as shown in historical production records for the Main Mine
1. Past-producing high-grade veins such as the Vollaug vein are known to have strike lengths of up to 3 km.
Veins are classic, orogenic-style, high-grade gold veins with free gold which occur in mafic volcanic rocks stacked between low-angle listwanite-bearing thrust surfaces and lenses of fine-grained clastic sediments. Veins occur stacked in multiple mafic volcanic units, and potential lies in defining: (1) stacked veins below known veins in underlying mafic volcanic panels; (2) parallel vein sets beneath overlying sedimentary and listwanite units within mafic panels, where historically mined parallel vein systems are spaced 400 to 600 m apart; and (3) extensions of known vein systems.
The Company's 2021 drill program at Cassiar South consisted of 24 drill holes totaling 7,191 m of which 19 holes were completed (five holes were abandoned due to challenging drill conditions). The program targeted extensions of the Bain, Cusac, Vollaug, Bain-Cusac Bridge and Hot Vein veins (Figure 1 & 2). Results are summarized below. See Table 1 for full results highlights.