Thesis Gold (TAU) has returned assays up to 19.56 g/t Au over 34 m at its Ranch Project in B.C.
The company has completed over 6,000 m of drilling of a planned 20,000 m at the Bonanza and Ridge Gold Zones including confirmation, expansion and exploration.
Vuggy silica and pervasive silicification, with local hydrothermal brecciation, are the best indicators of elevated gold within the high-sulphidation epithermal alteration envelope.
Drill hole 21BNZDD003, for example, intersected high-grade gold mineralization essentially at surface.
Additionally, historical drill logs and early assay results indicate a strong correlation between the presence of copper sulphides and gold content in drilling.
Two diamond drill rigs are currently turning at Bonanza but will move shortly to the Thesis Gold Zones 2 and 3 to complete confirmation and expansion drilling.
A third drill rig is testing over 10 new exploration targets in the heart of the project.
Initial partial assay results from the Bonanza Zone
Ewan Webster, Thesis Gold's President and CEO, stated,
"Thesis is delighted with these initial outstanding assay results from our maiden drill program. These first three confirmation holes at the Bonanza Zone confirm high-grade gold mineralization extends from surface to depth. We anticipate further results from both the Bonanza and the Ridge Zones over the coming weeks."
Thesis Gold is developing the 17,832-hectare Ranch Gold Project in B.C.'s Golden Horseshoe.
Thesis Gold (TAU) is up by 15.38 per cent and is currently trading at $1.50 per share as of 9:55 am ET.