Taiga Completes Airborne Geophysical Survey at Orchid Gold Project, Saskatchewan
Cranbrook, B.C., August 1st, 2018: Taiga Gold Corp (CSE:TGC) (“Taiga”) has completed an airborne geophysical survey on its’ 100%-owned Orchid project located 120km east of La Ronge, Saskatchewan and 70km south of SSR Mining’s Inc.’s Seabee Gold Operation. The 8376 ha property is situated along the same structural corridor and within rocks similar to those currently being mined at Seabee/Santoy. The property is considered to have potential to host significant gold mineralization.
The program consisted of a 500 line-km high-resolution airborne (drone) magnetic survey, the results of which will be combined with extensive historical surface mapping and geochemical data. Following the airborne survey this summer, field crews will return to ground-truth and prioritize the combined geophysical and geochemical anomaly targets, with the intent of refining drill targets for the future exploration.
2018 work follows up on a successful 2017 exploration program which included the collection of a total of 110 rock samples, including 11 channel samples. Twenty-five rock samples returned greater than 1.0 g/t Au, with a best grab sample result of 61.30 g/t Au. A total of 667 soil samples were taken, with results of up to 847 ppb Au in soil providing strong anomalies to target with follow-up mapping, prospecting, geophysical surveys and additional soil sampling.
A summary map outlining pertinent features of the property may be found here.
Orchid Property History
The Orchid project was staked by Eagle Plains in 2014 and optioned to North Arrow Minerals which explored the property for its diamond potential until relinquishing the option in 2016. The property has historically been explored for its gold potential since the mid-1980s and contains numerous documented high-grade mineral occurrences grading from trace values to highs of 41.3 g/t (Orchid Au Zone), 19.2 g/t Au (Tim’s Showing), 12.7 g/t (Eureka), and 8.5 g/t (Terra Zone) as well as significant Ag (144.5 g/t), Cu (3.9%), and Mo (2600 ppm).
Current exploration work conducted by Eagle Plains builds on previous work by numerous operators which has indicated certain similarities to those seen at the Seabee Gold Operation, owned by SSR Mining Inc. (“SSRM”, formerly Silver Standard Resources Inc.), including host lithologies and contact relationships, style of mineralization, and presence of multiple fault systems that allowed for high fluid-flow regimes. The Seabee Gold Operation has been in continuous production since 1991 and has produced approximately 1.2M ounces of gold from the Seabee and Santoy deposits.
Ore geology at the Seabee Gold Operation consists of high-grade vein mineralization associated with volcanic and mafic intrusive rocks which have been structurally disrupted by splays of the deep-crustal Tabbernor Fault system. Both the Seabee Gold Operation and the Orchid project are underlain by rocks of the Pine Lake greenstone belt. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Project supervision will be provided by TerraLogic Exploration Inc. of Cranbrook, BC under the supervision of Jarrod Brown, P.Geo., designated as Q.P. under NI 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 SSR Mining Inc. (formerly Silver Standard Resources Inc.). 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, 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.