WHITE ROCK, BC / ACCESSWIRE / August 2, 2024 / TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce that it has entered into an agreement (the "Purchase Agreement") for the acquisition of approximately 9,600 hectares ("ha") of mineral tenures (the "Tenures") contiguous with its Baker Complex and Greater Shasta-Newberry projects, all located within the Toodoggone District, B.C. (the "Acquisition"). The Tenures comprise 10 mineral claims that also join up TDG's Bot and Oxide Peak projects, forming a contiguous tenure block extending over ~55 kilometres ("km") (Figure 1). All TDG's mineral tenures are actively explored, managed and maintained through close working relationships with First Nation partners.
Pursuant to the Purchase Agreement, TDG will acquire the Tenures from Volatus Capital Corp. (the "Vendor") for total consideration of $200,000, of which $100,000 will be paid in cash and $100,000 will be paid through the issuance of 752,445 common shares of TDG (the "Consideration Shares"). Closing of the Acquisition remains subject to standard conditions, including receipt of the approval of the TSX Venture Exchange (the "TSXV"). In connection with the Acquisition, subject to TSXV approval, the Company will pay a $20,000 finder's fee (the "Finder's Fee") to L&L Consulting GmbH, an arm's length party to the Company, which will be paid through the issuance of 150,489 common shares of TDG (the "Finder's Shares"). The Consideration Shares and the Finder's Shares will be subject to a hold period expiring four months and one day after issuance.
Figure 1 - TDG's Mineral Tenure in the Toodoggone, B.C.
Steven Kramar, TDG's VP Exploration, commented: "This acquisition connects TDG's mineral tenure package into one contiguous block spanning ~55 km through the heart of the known epithermal mineralization and porphyry potential in the Toodoggone District. The new mineral tenures are also adjacent to Cascadia's PIL project (to the south) and to Skeena's Sofia-Sickle project (to the east)."
Historical work on the Tenures from 1960-2003 included various small-scale geological and geochemical studies totalling approximately $340,000, and identified several mineralized target areas1,2. Past operators focused on reconnaissance work to evaluate the epithermal precious metals potential of the area due to the presence of placer gold in multiple drainages in the vicinity. Most efforts were initiated during the early 1980s exploration rush in the Toodoggone following the discovery and development of the Baker and Lawyers past-producing mines. Little work was directed at porphyry copper +/- gold potential in this area, despite numerous showings1 of porphyry style mineralization. Past operators in the area included SEREM, DuPont, Newmont, Hemlo Exploration, Mt. Graves Resources, Skylark Resources, Stealth and Volatus Capital Corp.
Recent work includes acquisition of modern high-resolution airborne versatile time domain electro-magnetic ("VTEM"), magnetic and radiometric data2 which, combined with TDG's existing airborne geophysical data, provides an excellent geophysical base from which to conduct appropriate geological and structural analysis. There has been no further follow-up and post-processing of the recent airborne data2 on the newly acquired tenures. This information may provide further insight into underlying geology. No drilling has ever been completed on these tenures.
Next steps will include compilation, review and integration of historical data2 with TDG's existing geochemical, geophysical, geological and hyperspectral data from the surrounding tenures. TDG will provide additional targeting1 information following completion of this work.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., Vice President, Exploration for TDG Gold Corp., a qualified person as defined by National Instrument 43-101.
1Mineral Exploration/Exploration Target Area(s): Exploration targets and/or Exploration zones and/or Exploration areas are speculative and there is no certainty that any future work or evaluation will lead to the definition of a mineral resource.
2Historical Data: This news release includes historical information that has been reviewed by TDG's qualified person (QP). TDG's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, TDG cannot directly verify the accuracy of the historical data, including (but not limited to) the procedures used for sample collection and analysis. Therefore, any conclusions or interpretations borne from use of this data should be considered too speculative to suggest that additional exploration will result in mineral resource delineation. TDG encourages readers to exercise appropriate caution when evaluating these data and/or results.
About TDG Gold Corp.
TDG is a major mineral tenure holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 32,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or under acquisition agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta and Baker mines, which produced intermittently between 1981-2012, and the historical high-grade gold Mets developed prospect, all of which are road accessible, and combined have over 65,000 m of historical drilling. The projects have been advanced through compilation of historical data, new geological mapping, geochemical and geophysical surveys and, at Shasta, 13,250 m of modern HQ drill testing of the known mineralization occurrences and their potential extensions. In May 2023, TDG published an updated Mineral Resource Estimate for Shasta (news release May 01, 2023) which remains open at depth and along strike. In January 2023, TDG defined a larger exploration target area adjacent to Shasta (‘Greater Shasta-Newberry'; news release Jan 25, 2023). In Fall 2023, TDG published the first modern drill results from the Mets mining lease (news releases Sep 07, 2023, Sep 11, 2023 and Nov 28, 2023). In early 2024, TDG identified new copper-gold target areas over an expanded footprint covering ~53 sq.km known as the ‘Baker Complex' (news release Feb 28, 2024).
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither 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 release.
Forward-Looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as, "potential", "presence", "identify," "insight," and variations of these words as well as other similar words or statements that certain events or conditions "could", "may", "should", "would" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: whether the geophysical, geological and geochemical results are indicative of a porphyry intrusive with or without associated copper and/or gold mineralization; whether future exploration programs will successfully define potentially economic mineralization; the timing and availability of funding to support such exploration; accidents, labour disputes and other risks common to the mining industry; the availability of sufficient funding on terms acceptable to the Company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: TDG Gold Corp.
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