CRANBROOK, BC / ACCESSWIRE / July 17, 2019 / Taiga Gold Corp (CSE:TGC) (“Taiga”) has mobilized crews to commence fieldwork on the Leland project located 100km northeast of La Ronge, Saskatchewan and 23km SW of SSR Mining’s Seabee Gold Operation.
The 11,150ha property is owned 100% by Taiga and carries no underlying royalties or encumbrances. Claims comprising the property were acquired between 2014 and 2018 and were transferred from parent company Eagle Plains Resources Ltd. (TSX-V: EPL) as part of a plan of arrangement completed in early 2018. The claims are contiguous with Taiga’s Fisher property which is currently under option to SSR Mining Inc. Property highlights include numerous high-grade gold occurrences including up to 60 g/t (1.75 oz/T) gold associated with structurally-hosted quartz veins.
Property Geology and History
The Leland Property hosts several zones of orogenic gold mineralization with good exploration potential. Historic work in the western part of the Leland Property has identified numerous gold-bearing quartz veins with notable grades including the Leland Lake South Zone, which hosts grab samples ranging from trace values to up to 32.8 g/t Au and 8.6 g/t Au; and the Simon/Irving Lake Zone, which returned up to 60 g/t Au and 53 g/t Au from within a 2km x 600m shear zone centred along an open- ended contact between mafic volcanic and intrusive rocks. Near the new eastern limit of the property, known vein-hosted mineralization at the Sun Zone returned values ranging from trace quantities to up to 8 g/t Au. Gold-bearing shear zones at this location are proximal to mafic volcanic and intrusive rock units that also contain VMS-style base metal mineralization. None of the showing areas have been drill-tested but trenching indicates they contain structurally-controlled mineralization and are open along strike. The presence of amphibolite-grade meta-volcanic and associated meta-intrusive rocks hosting well-defined shear zones are considered positive indicators for the presence of orogenic gold deposits. The mineralization, host rocks and structural framework are similar to gold deposits in the region such as the nearby Seabee Gold Operation. Additionally, this prospective geology is considered to be underexplored for 30 km of strike length within the current Leland property boundaries. Management cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Leland property.
2019 Project Outline
Work during the summer 2019 season is expected to occur in two phases over a two month period, with each phase consisting of approximately 70 man-days. Fieldwork will consist of geological mapping and sampling, trenching, prospecting and detailed soil geochemical sampling. A budget of approximately $250,000 has been set for exploration activities.
Project supervision will be provided by TerraLogic Exploration Inc. of Cranbrook, BC under the supervision of Jarrod Brown, P.Geo., hereby identified as the “Qualified Person” under N.I. 43-101.
Update on Fisher Project Work
SSR Mining continues to carry out aggressive exploration activity on Taiga’s Fisher Property. Quarterly reporting is ongoing, with the 2019 Q2 update expected to be received by Taiga in the coming weeks.
About Taiga Gold Corp
Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. and was listed on the CSE in April 2018 under the symbol “TGC”. The company owns 5 projects targeting gold in the area near the Seabee Gold Operation, owned and operated by SSRM. Taiga’s flagship “Fisher” property is currently being explored by SSRM under option from Taiga.
Taiga’s objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in terms of Investment Attractiveness. Throughout the exploration and development process, the Company’s mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Taiga Gold Corp.
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