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Cassiar Gold Announces New Pit-Constrained Inferred Mineral Resource Estimate at the Taurus Deposit of 1.4Moz Gold Grading 1.14 g/t Au; Provides Update on Bought Deal Financing
Calgary, Alberta--(Newsfile Corp. - May 10, 2022) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: C...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Cassiar Gold Announces New Pit-Constrained Inferred Mineral Resource Estimate at the Taurus Deposit of 1.4Moz Gold Grading 1.14 g/t Au; Provides Update on Bought Deal FinancingCalgary, Alberta--(Newsfile Corp. - May 10, 2022) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (the \"Company\") is pleased to announce the results of a new Mineral Resource Estimate (\"MRE\") at its 100% owned flagship Cassiar Gold Property (\"Property\") located in northern British Columbia, Canada. The MRE has been prepared in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards. A technical report in support of the MRE (the \"NI43 101 Report\") will be filed on SEDAR within 45 days of this news release. The new pit-constrained MRE for the Taurus deposit and supporting technical report for the Property incorporates results from 16,000 m of diamond drilling and other exploration activities completed in 2020-21 and replaces the Company's previous NI43-101 resource disclosure, which did not provide economic constraints on the reported resource. Highlights:Estimated inferred mineral resources of 37.9 million tonnes grading 1.14 g/t Au for 1.39 million ounces of gold in a pit constrained model using a 0.50 g/t Au cut off.Resource categorization and the cut-off grade of the deposit were based on an open-pit production scenario, which was warranted due to:The shallow nature of the resource - the inferred resource extends from surface to a maximum pit depth of 271 m, with 45% of ounces occurring within 50 m of surface, 76% of ounces occurring within 100 m of surface and 90% of ounces occurring within 150 m of surface;The compact and continuous nature of the deposit; andEasy access and proximity to necessary infrastructure, including highways and the power grid.Mineralization remains open in all directions outside and below the pit shell. Untested areas are also present between resource blocks within the pit shell due to widely spaced drilling. Future resource growth potential is significant through further in-fill and step-out drilling.Eastern areas of the deposit near the historical Taurus underground mine (~35,000 ounces produced) were excluded from the MRE as mining shapes could not be accurately recreated in 3D due to lack of survey constraints. As a result, this represents another area of potential future re...