Cassiar Gold Corp (TSX-V:GLDC) has provided an update on its exploration program at the group’s namesake site in northern British Columbia, where drilling is ahead of schedule and has been expanded to 7,000 metres across approximately 20 holes.
An independent NI43-101 Standards of Disclosure for Mineral Projects report, effective 8 June and prepared by geologists Scott Zelligan and Chantal Jolette, outlined an indicated mineral resource estimate (MRE) of 8.8 million tonnes at 1.43 grams per tonne of gold for 410,000 ounces.
The report also included an inferred resource of 63.2 million tonnes at 0.95g/t for 1.93 million ounces, using a 0.40g/t cutoff and a gold price of US$2,400 ($3,644.68) per ounce.
The updated estimate extends from surface to a depth of 307 meters, with more than 90% of resources occurring within 150m of surface.
CEO Marco Roque said the company is encouraged by recent progress.
“The new MRE outlines an expanded, robust, near-surface, pit-constrained asset with great access,” Roque said.
“We are now excited to complete our 7,000m drill program across the Cassiar Gold Property that will include drilling at the Taurus Deposit and Newcoast, which we believe have similar potential.”
To date, the group has completed 5,211m of drilling this season, including 2,080 meters at the Taurus deposit and 3,131m at the Newcoast target, which sits along a 15-kilometre trend of past-producing gold deposits. The current drilling season runs from May through October.
Cassiar Gold will also appear at the Precious Metals Summit in Beaver Creek, Colorado, this week.
Write to Dan Petrie at Mining.com.au
Images: Cassiar Gold
