Cassiar Gold reports new resource estimate of 1.4 million oz. at 1.14 g/t

Cassiar Gold (TSXV: GLDC; OTC: CGLCF) has provided a new mineral resource estimate for its flagship gold property located in the Cassiar mining […]
Cassiar gold project in northern B.C. Credit: Cassiar Gold

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Cassiar Gold (TSXV: GLDC; OTC: CGLCF) has provided a new mineral resource estimate for its flagship gold property located in the Cassiar mining district of northern B.C., incorporating results from 16,000 metres of drilling and other exploration activities completed in 2020-21.

The Cassiar property is divided into two main areas: the North Cassiar area with a bulk-tonnage opportunity at the Taurus deposit, and the Cassiar South area with high-grade quartz vein targets. The Taurus deposit is the site of a historic underground mine that produced roughly 35,000 oz. of gold. Cassiar South also hosts several past-producing mines, which together yielded over 315,000 oz. at grades of between 10 and 20 g/t.

The mineral resource based on a pit-constrained model for the Taurus deposit using a 0.50 g/t cut-off grade amounts to 37.9 million tonnes grading 1.14 g/t for 1.39 million oz. of gold, all in the inferred resource category. The previous estimate was 1 million oz. at 1.43 g/t. Resource categorization and the cut-off grade were based on an open pit production scenario, which Cassiar says was warranted due to the shallow nature of the resource, the compact and continuous nature of the deposit, and easy access to necessary infrastructure.

The mineralization at Taurus 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. As such, the company believes there is "significant" resource growth potential through further infill and step-out drilling.

The eastern areas of the deposit, near the historical Taurus underground mine, were excluded from the resource estimate 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 resource growth.

In addition to the Cassiar, the company is also exploring the Sheep Creek gold camp near Salmo, B.C. The Sheep Creek gold district ranks as the third-largest past-producing orogenic gold district in the province, with historical gold production of 742,000 oz. at an average grade of 14.7 g/t from 1900 to 1951. Minimal exploration has been conducted there since the 1950s.

More information about the Cassiar project is posted on www.CassiarGold.com.

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