Business
Thesis Gold Extends Mineralization at Bonanza-Ridge Zones; Drills 17.5 m of 4.59 g/t AuEq
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2022) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) (OTCQX: THSGF) ("Thesis" or the "Company") is pl
About this update from Thesis Gold & Silver Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - September 12, 2022) - Thesis Gold Inc. (TSXV: TAU) (WKN: A2QQ0Y) (OTCQX: THSGF) (\"Thesis\" or the \"Company\") is pleased to announce the first assay results from the 2022 Summer drill program at the Bonanza Zone and a general exploration update for the Ranch Gold Project, located in the Golden Horseshoe of north-central British Columbia, Canada. Highlights Drillhole 22BNZDD004 returned 17.52 metres (m) core length of 3.41 g/t gold (Au), 23.51 g/t Silver (Ag), and 0.58 % Copper (Cu), or 4.59 g/t AuEq (Table 1). These first four step-out holes from the Bonanza Zone all intersected significant gold mineralization, extending the zone >100 metres along strike to the northeast (Figure 1). 2022 drilling is beginning to demonstrate that an interconnected fault network of northeast and northwest structures is controlling broadly continuous mineralization over significant strike extents rather than isolated zones, indicating the larger resource potential of the Ranch Gold Project. These initial 2022 drilling results and visually logged alteration and mineralization at both the Bonanza and adjacent Ridge zones are providing strong indications that they essentially represent a continuous zone of mineralization, offset by syn or late-stage faulting (Figures 1 and 2). This represents a minimum strike length of ~660 metres (m) and remains open along strike; further drilling is planned (Figure 1). These results demonstrate that a large-scale mineralizing system(s) is present at the Ranch Gold Project and was unrecognized by previous operators. Exploration drillholes testing a parallel northeast fault zone ~150 metres north of the Bonanza zone intersected similar leached vuggy quartz zones associated with high grade gold-silver mineralization (Figure 1). Ongoing exploration drilling continues to test mineralization along regional scale mineralizing structures that crosscut the Ranch Gold Project. Ewan Webster, President, and CEO commented, \"We are extremely pleased with these initial step-out drilling results at Bonanza, it certainly demonstrates the significant growth potential that remains. What we are beginning to confirm is that these are not isolated zones of mineralization but part of larger scale, fault-controlled, series of mineralized domains with significant strike extent. Visual al...