Thesis Gold (TSXV: TAU)
Reported an updated Mineral Resource Estimate at the Company’s newly combined 100% owned Lawyers-Ranch Project.
The Project now boasts a combined Measured & Indicated Mineral Resource of 4.0 Moz and an Inferred Mineral Resource of 727 koz.
.
.
| Thesis Gold | TSX.v : TAU |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$108 m @ 68 cents |
| Location | British Columbia, Canada |
| Website | thesisgold.com |
Vancouver, British Columbia–(Newsfile Corp. – May 1, 2024) – Thesis Gold Inc. (TSXV: TAU) (FSE: A3EP87) (OTCQX: THSGF) (“Thesis” or the “Company“) is pleased to report an updated Mineral Resource Estimate (“MRE”) at the Company’s newly combined 100% owned Lawyers-Ranch Project.
The Project now boasts a combined Measured & Indicated Mineral Resource of 4.0 Moz and an Inferred Mineral Resource of 727 koz, at respective grades of 1.51 and 1.82 g/t AuEq*, hitting an important milestone for project scale. The Lawyers-Ranch Project is road-accessible and together the projects form a contiguous, 495 km2 land package in the prolific Toodoggone Mining District in northern British Columbia.
.
Highlights: 2024 Updated Mineral Resource Estimate
- Significant Mineral Resource Growth
- Measured & Indicated Mineral Resource
- 4.0 million ounces (Moz) grading 1.51 grams per tonne (g/t) gold equivalent (AuEq*) contained within 82.0 million tonnes; AuEq* calculated using 80:1 Ag:Au ratio (with Au US$1,850/ounce [oz], Ag US$24/oz, and recoveries at 92 and 88% respectively).
- Representing over 85% of the total Mineral Resource ounces and a 27% increase in AuEq* ounces (Figure 1).
- Inferred Mineral Resource
- 727 thousand ounces grading 1.82 AuEq* contained within 12.4 million tonnes.
- An increase of 76% AuEq* ounces.
- Total tonnage
- 94.4 million tonnes at 1.55 g/t AuEq* a 32% increase in tonnes.
- This MRE outlines both pit-constrained resources—defined by a conceptual pit at a cut-off grade of 0.4 g/t AuEq* and out-of-pit Mineral Resources that have a cut-off grade of 1.5 g/t AuEq*, which demonstrate excellent continuity.
- Measured & Indicated Mineral Resource
- Substantial Silver Value
- At an 80:1 Ag:Au ratio, silver represents 25% of the Mineral Resource value for AuEq*.
- Measured & Indicated Mineral Resources contain 84.0 million silver ounces, and Inferred Mineral Resources contain 8.3 million silver ounces, respectively, an increase of 58% and 34 %.
- Potential for Continued Growth
- In 2023, the drilling program at Ranch was strategically aimed at defining near-surface, high-grade zones. This focus was specifically designed to maximize the impact on the upcoming PEA update (Q3 2024) and establish an initial Mineral Resource. All zones remain open for significant expansion potential.
- Ranch has >20 drill ready targets for potential new discoveries and multiple additional gold-silver mineralization targets generated for follow-up.
.
.
Ewan Webster, President and CEO, commented,
“Today’s combined Mineral Resource is a major milestone for the project and a key step in our strategic plan to unlock the full potential of these outstanding assets.
“This process began in 2023 when we launched a targeted drilling campaign focused on the highest-impact areas of Lawyers and Ranch.
“The drill results supported two key 2024 catalysts: today’s updated global resource for both Lawyers and Ranch, and its integration into an improved PEA.
“We’re on track, with a 32% increase in gold equivalent ounces, identification of higher-grade zones, and a revised mine plan that positions the project to deliver substantial improvements on already strong economics.
“We foresee this materializing in a significant underground potentially mineable Mineral Resource and secondly as you can see in the sensitivity table for Ranch, there is the opportunity to develop much higher-grade starter pits to jump-start production and reduce the pay-back period.
“I see today’s resource as just the beginning, with substantial growth ahead, particularly at Ranch, where we have only scratched the surface.”
,
,
To read the full news release, please click HERE
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
Disclosure
At the time of writing the author holds no shares in Thesis Gold.
.