Business
Cassiar Gold Announces Mobilization, Closing of Financing, the Appointment of Jill Maxwell as VP of Exploration, Vernon Shein as Advisor to the Board
Calgary, Alberta--(Newsfile Corp. - June 5, 2023) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLC...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Cassiar Gold Announces Mobilization, Closing of Financing, the Appointment of Jill Maxwell as VP of Exploration, Vernon Shein as Advisor to the BoardCalgary, Alberta--(Newsfile Corp. - June 5, 2023) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (\"Cassiar Gold\" or the \"Company\") is pleased to announce the mobilization of field crews and launch of the 2023 Exploration Program at Cassiar North, the appointment of Jill Maxwell as the Company's new Vice President of Exploration and Vern Shein as Advisor to the Board, and the closing of the final tranche of its non-brokered private placement.Commencement of 2023 Drill Campaign and Exploration ProgramThe Company launched the first phase of the 2023 drill program on June 1st at the Cassiar North project area. The campaign plans to drill up to 20,000 m of core from June to October utilizing three diamond drill rigs at the Taurus Deposit, Cassiar South project area, and high-priority regional targets. Drilling commenced with two rigs, initially focused on the Taurus Deposit, with one drill shifting to test regional exploration targets in the third quarter. A third rig will start mid-June to concurrently test highly prospective targets identified at Cassiar South during the 2022 drill campaign. Taurus deposit The Taurus Deposit hosts a near-surface, bulk-tonnage pit-constrained inferred gold resource of 1.4 million ounces grading 1.14 g/t Au1 which remains open in most directions. The deposit holds significant expansion potential laterally, at depth, and between widely spaced drill holes within the resource footprint. Drilling at Taurus is designed to build on the success of the 2022 program, leveraging recent results with continued focus on expanding the resource through step out drilling and evaluating untested areas between resource blocks. Cassiar South and regional Drilling at Cassiar South is planned to test for potential extensions of highly prospective targets at the Main Mine and East Bain Extension areas. Drill holes are designed to follow up on 2022 drilling which encountered previously untested gold-bearing veins, confirmed the potential to identify offset extensions of past-producing high-grade veins, and discovered new mineralized veins occurring parallel to known gold-bearing structures. Cassiar Gold continues to evaluate regional prospects based on historical dataset...