SSR Mining Samples up to 22 g/t Au in Outcrop and 4.4 g/t Gold in Soils at Fisher Project. Drilling in Progress, 2019 Drill Planning/Permitting Underway
Cranbrook, B.C., November 7th, 2018: Taiga Gold Corp (CSE:”TGC”) (“Taiga”) has been provided with an update on work completed up until the end of Q3 2018 at its 100%-owned Fisher Property, located in east-central Saskatchewan. The work was funded and carried out by operator SGO Mining Inc. (“SGO”), a wholly-owned subsidiary of SSR Mining Inc. (formerly Silver Standard Resources Inc.) (TSX: SSRM) (NASDAQ: SSRM) who are in the third year of a five-year option agreement whereby SGO may earn up to an 80% interest in the 34,000ha property by completing $4M in exploration expenditures and making $3.3M in cash payments to Taiga. SSRM expenditures to the end of Q3 2018 are approximately $4.1 M. The Fisher Project is contiguous to the north, south and east with SSRM’s Seabee Gold Operation.
2018 Q3 Highlights
- Detailed mapping along Santoy shear zone identifies favorable Seabee/Santoy-type alteration and structure at Mac, Zone of Splays and Eisler Lake areas,
- 203 rock samples collected, ranging from trace values to a high of 22.0g/t Au reported,
- Soil geochemistry identifies new areas of interest at Mac, Footprint and Georges Lake ranging from trace values to a high of 4.4 g/t gold reported,
- Construction of all-season access and Fisher camp completed,
- 10,416 meters of diamond drilling in 18 holes completed by end of Q3 with anomalous results returned; complete analytical results pending,
- Diamond drilling at the Mac zone and Klucker trend underway.
A summary map outlining pertinent geologic features and project highlights may be found here.
2018 Q3 Exploration Summary:
The 2017 forest fires in the Fisher property area resulted in the discovery of discrete quartz vein structures, most notably in the Eisler Lake area ultramafic complex. The Bob Vein, traced for over 100 m along strike, is approximately 2 m thick, heavily oxidized and contains up to 10% sulphide mineralization. Along the western shore of Eisler Lake 2-3m wide quartz veins have been traced for up to 200 m on the Dyl target.
203 rock samples were collected for assay in 2018 including eighteen 1m chip samples at the Mac Zone. The samples included quartz vein material and altered wallrock. Seven of the samples returned values greater than 1 g/t Au, with a peak value of 22 g/t Au at Granite Island in the Eisler Lake area.
A total of 1,769 soils (including certified reference materials and field duplicates) were collected over 5 separate grids: 1) Santoy Shear along Zone of Splays, 2) Santoy Shear footwall (New Eisler Veins including Bob Vein) 3) Dyl Veins, 4) George Lake and 5) Footprint. The sample grids were designed to infill areas of interest identified from the more widely spaced soil and till sampling conducted in 2017 and also cover new areas of interest identified during mapping in 2018. The results highlight several anomalous trends that correspond to and extend historically- identified and new areas of interest. Single and multipoint anomalies along the northern Santoy shear extension coincide with areas of high strain, alteration and veining identified on surface. Additionally, soil data in the hangingwall to the Santoy shear in this area indicate the possible presence of mineralization that will be followed up with additional soil grids and prospecting in 2019.
To the end of Q3 2018 a total of 10,416 meters of diamond drilling were completed in 18 widely-spaced holes. The drilling was focused on testing first-pass targets identified along the Santoy shear zone extension which traverses the entire 16km length of the Fisher property. Holes completed to date partially tested the Santoy shear zone extension and have intersected favourable lithologies, alteration and mineralization. Partial analytical results have been received and detailed results will be released when all of the analytical work is complete and results have been interpreted.
Drilling is currently underway at the Mac zone and along the Klucker trend utilizing two diamond drill rigs and is expected to comprise approximately 5,000m. The drill program is based out of the recently-constructed all weather Fisher camp and is expected to be completed by early November.
Permit applications for a planned 2019 drill program have been submitted. All recently acquired data will be compiled with the existing database and interpreted to identify and prioritize drill targets for the winter 2019 program. SSR Mining are encouraged by the results of the work to date and look forward to receiving the results of the season’s work on the property.
Areas of Exploration Focus
Mac – Klucker Zone:
Infill and reconnaissance soil grids in the Mac Zone area identified a continuous gold in soil anomaly 800 meters north and along strike of the Mac Zone that is broken up by two small lakes. Taken together, the new northern area (Klucker target) and Mac forms a soil anomaly that is approximately 1.3 kilometers in length. Eighteen 1m chip samples were taken at the Mac Zone in 2018 and three of the samples returned values greater than 1 g/t Au with a high of 6.7g/t Au.
In 2018, a small grid along the northern extension of the historic Footprint Showing [ ] SGO found gold-in-soil anomalies along strike of the known mineralized showings, including a peak soil analyses of 4.4g/t Au. The high-grade sample, which was collected above a quartz vein in outcrop, is located approximately 2 km north of the Footprint showings where Eagle Plains’ sampling previously returned 11.6 g/t from a 2016 grab sample, extending the potential for mineralization in the area. Follow up soil sampling, prospecting, mapping and drilling will be conducted in 2019.
2018 soil geochemistry identified two single point anomalies on the northeast and southwest ends of the Georges Lake grid. This area hosts some of the highest grade historical gold values on the Fisher property. This new soil data suggests mineralization could extend southwest along the Georges Lake fault. Additional surface work is warranted since historic prospecting by EPL has identified a 1.5km long mineralized trend, with peak surface chip samples returning 8.7 g/t over 7.8m in a folded quartz vein at the VG showing, plus numerous other showings such as the BC Trench and King Fisher.
Taiga has not been able to independently verify the methodology and results from historical work programs within property boundaries. However, management believes that historical work programs have been conducted in a professional manner and the quality of data and information produced from them are relevant. Grab samples are selective and may not be representative of the mineralization hosted on the property.
Quality Assurance / Quality Control
2018 soil analytical work was done by TSL Laboratories Inc. in Saskatoon, SK. Soils are dried and screened through 80 mesh sieve. The plus fraction is stored and the minus fraction used for analysis. A 30g sample is then analysed for gold using Fire Assay/Atomic Absorption Spectrometry techniques. Standards are inserted approximately every 20 samples, as well as two pulp duplicates and one geological blank in every batch with FA/AA work.
2018 rock and drill core samples were processed at SGO’s Seabee Gold Operation laboratory facility using Standard Fire Assay and Screen Metallic Fire assay techniques. Technical information in this news release has been reviewed and approved by C.C. Downie, P.Geo., hereby identified as the “Qualified Person” under N.I. 43-101.
About Taiga Gold Corp
Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. and owns 5 projects targeting gold in the area near the Seabee Gold Operation, owned and operated by SGO. Taiga’s flagship “Fisher” property is currently being explored by SGO 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, our 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming 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.