Thesis Gold (TSXV:TAU; OTCQX:THSGF) reports drilling a 4.1-metre core section that assayed 119.49 g/t gold from the Bonanza zone at its Ranch gold project. That grade is almost 3.5 oz. per ton.
The Ranch and adjacent Lawyers projects are within the Toodoggone mining district in central British Columbia.
The Ranch drilling is in the definition and exploration stage in preparation for an initial resource estimate in the second quarter of 2024. The shallow, targeted drilling continues to verify the expected grades, thickness, and continuity of the Bonanza zone model.
Here are the highlights:
"We are very pleased with today's results,” said Ewen Webster, Thesis Gold president and CEO. “Bonanza is certainly living up to its name with hole one. Assays are pending from up-dip drilling at the Ridge zone, where we expect additional strong results within this interconnected fault network of northeast and northwest structures, defining over 1 km of drill-tested mineralized strike extent."
The Bonanza zone went into production in 1991, along with the BV and Thesis III zones. A 65-metre-long starter pit was developed at Bonanza, and the ore was treated at the historical Lawyers gold mine and mill. That mine was operated by Cheni Gold mines from 1989 to 1992. Overall production was 171,066 oz. of gold and 3.5 million oz. of silver.
Learn more on www.ThesisGold.com.