Taiga Completes Fieldwork at Orchid Project, Provides Update on Ongoing Exploration at the Fisher Project
Cranbrook, B.C., August 14th, 2018: Taiga Gold Corp (CSE:TGC) (“Taiga”) has completed fieldwork on its 100%-owned Orchid project located 120km east of La Ronge, Saskatchewan and 70km south of SSR Mining Inc.’s (formerly Silver Standard Resources Inc.) (“SSR Mining”) Seabee Gold Operation. The 8,376ha property is situated along the same structural corridor and within rocks similar to those currently being mined at the Santoy mine. The property is considered to have excellent potential to host significant gold mineralization.
2018 fieldwork was comprised of geologic mapping, prospecting and soil sampling which followed-up a 500 line-km high-resolution airborne (drone) magnetic survey which was conducted earlier in the summer. The objective of 2018 geological work was to establish drill targets for future exploration. All geochemical results for the program are pending.
Exploration 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.
As previously announced, Taiga has recently increased the property area by 50% to 8,376ha which carries no underlying royalties or encumbrances (Taiga NR June 28, 2018).
A summary map outlining pertinent geologic features and project highlights may be found here
Fisher Project Update
Exploration activity continues at the Company’s 100%-owned Fisher project (currently under option to SSR Mining), which is located immediately adjacent the Seabee Gold Operation and 30 km north of Orchid. The property is interpreted to contain similar regional geology and structure as Seabee/Santoy and Orchid. Two drills are currently on site and a total of approximately 8,550m have been completed in 14 holes up to the end of June. Results will be formally announced as they are received, compiled and interpreted.
A field crew of 8 are currently conducting surface exploration activity including prospecting, geological mapping and soil geochemical sampling. A high-resolution airborne geophysical program was completed over specific areas of the property earlier in the season to aid in structural interpretation. Areas of the property which were not accessible during 2017 due to extensive forest fire activity are now being explored and are found to display greatly enhanced outcrop exposure due to the intensity of the fires.
An all-season road has been completed which links the Fisher property to the Seabee Gold Operation and planning is underway for construction of a year-round camp in the central region of the property.
SSR Mining recently stated that “Surface exploration drilling in the second quarter of 2018 outside the Santoy mine area focused on three areas including CRJ, Santoy 3 and Fisher with 12,052 meters being completed in 23 drillholes. Current activities are focused on testing first pass targets on the Fisher property identified along the length of the Santoy shear zone extension. Holes completed during the quarter partially tested the Santoy shear zone extension and have intersected favourable lithologies, alteration and mineralization. Analytical results are pending and we continue to be encouraged by the potential of this early stage property” (SSRM NR August 9th, 2018).
A summary map outlining pertinent geologic features and project highlights may be found here.
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. Taiga’s flagship “Fisher” property is currently being explored by SSR Mining 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.