Taiga Reports Drilling Results from the Orchid Gold Project, Saskatchewan

Cranbrook, B.C., August 18th, 2021: Taiga Gold Corp (CSE:TGC) (“Taiga”) or (the “Company”) has received complete results from a 12 hole, 2139m diamond drilling program completed at it’s 100%-owned Orchid project located within the Trans Hudson Corridor 120km east of La Ronge, Saskatchewan and 70km south of SSR Mining’s Inc.’s Seabee Gold Operation, host of the Seabee and Santoy gold deposits. The Orchid property consists of 7,900ha overlying the same structural features and within rocks similar to those currently being mined at the Santoy deposit. The property is considered to have excellent potential to host significant gold mineralization and carries no underlying royalties or encumbrances. 

See Taiga Project Location Map here

Drilling was completed in May 2021, and tested the Orchid East and West, Tim’s, Terra Au, Tiger Lily and Wing Lake showing areas. Drill targeting focused on testing extensions of surface vein showings that are typically coincident with magnetic geophysical anomalies. The drilling program reported herein represents the first drill-testing of most of the mineralized zones within Orchid property boundaries.

2021 Drilling Highlights:

  • Tiger Lily: OC21001, the first drill test of a 2017 Taiga Gold discovery, returned 2.28 g/t Au over 0.98 m within an interval grading 1.57 g/t Au over 1.55m; 
  • Orchid East and West: OC21005 returned 3.94 g/t over 1.0m. OC21006 had two separate intercepts, returning 5.2 g/t Au over 0.78m from an upper zone, and 3.94 g/t Au over 1m from a lower intersection;
  • Tim’s Zone: OC21008 returned 2.09 g/t Au over 0.51m;  
  • Terra Au:  OC21010 returned 4.24 g/t over 0.51m;  

Analytical results ranged from trace values to higher-grade intercepts, as summarized below. 

Select Drill Results Table:

Hole ID From (m) To (m) Core Length (m)* Au (g/t) Zone
OC21001        

Tiger Lily

Upper Interval 3.40 11.00 7.60 0.16
Lower Interval 71.45 73.00 1.55 1.57
Including 71.45 72.43 0.98 2.28
OC21004         Orchid East
&
Orchid West
  7.00 9.00 2.00 0.76
OC21005        
  11.00 16.90 5.90 0.18
  26.00 27.00 1.00 3.94
OC21006        
  53.00 53.72 0.72 5.20
  146.00 146.54 0.54 2.18
OC21008         Tim's
  55.49 56.00 0.51 2.09
OC21009          
Upper Interval 23.47 28.01 4.54 0.23 Terra
Au
Including 27.51 28.01 0.50 0.51
Lower Interval 172.28 178.64 6.36 0.35
Including 178.00 178.64 0.64 0.92
OC21010        
  25.20 30.25 5.05 0.22
  90.36 90.87 0.51 4.24
OC21002, 003, 011, 012 no significant intercepts

* Drill indicated intercepts (core length) are reported as drilled widths and true thickness is undetermined

See Orchid Sections and Drill Collar Location Map here

Drill Hole Summary

Drill holes OC21001 and OC21002 tested sheeted veins hosted in tonalite-quartz diorite at the Tiger Lily showing. 2017 channel sampling at the Tiger Lily returned up to 10.1 g/t Au over 0.50m, with grab samples up to 8.7 g/t Au. Hole OC21001 was collared approximately 40m down strike from the main showing and intercepted two intervals of significant gold mineralization, both associated with up to 2% disseminated pyrite, silicification, and shearing. These zones returned 0.16 g/t Au over 7.60m and 1.57 g/t Au over 1.55m, including 2.28 g/t Au over 0.98m. Hole OC21002 intercepted mainly quartz diorite with limited intervals of mafic volcanics and did not return any significant assay results.

Drill holes OC21003 - OC21007 tested the quartz-tourmaline vein swarms of the Orchid E and Orchid W showings, associated with geophysical magnetic highs. Three of the five holes intersected gold mineralization associated with quartz or quartz-tourmaline veins, potassic alteration, and pyrite mineralization.

Drill hole OC21003, drilled beneath surface grab samples with up to 7.76 g/t Au at the Orchid E showing, encountered several zones of quartz-tourmaline veins and pyrite mineralization but no significant Au intercepts were returned.

Drill hole OC21004 returned one significant interval of 0.76 g/t Au over 2.0m from 7.0 - 9.0m. Mineralization was associated with pyritic quartz-tourmaline veins hosted in tonalite. 

Drill holes OC21005 and OC21006 were drilled as a fence with OC21005 collared approximately 100m along strike to the south of OC21004. Hole OC21005 encountered an upper interval which returned 0.177 g/t Au over 5.90m related to intense, potassic alteration. A lower interval related to massive quartz veining and 5% fracture-filling pyrite returned 3.94 g/t Au over 1.0m. Drill hole OC21006 also encountered an upper and lower interval related to quartz-tourmaline veining and quartz-carbonate veining, respectively. The upper interval returned 5.2 g/t Au over 0.72m while the lower interval returned 2.18 g/t Au over 0.54m.

Drill hole OC21007, an approximately 260m step-out south from OC21005, was designed to test the southern extension of the Orchid W showing. This hole intercepted limited quartz-tourmaline veining and did not return any significant intervals.

Drill holes OC21008 and OC21011 were designed to test the Tim’s Showing area which has yielded rock samples up to 52.4 g/t Au.  OC21008 intersected tuff and mafic volcanics and returned 2.09 g/t Au over 0.51m from sheeted mm-scale, pyrite-pyrrhotite-bearing quartz-tourmaline veinlets. Hole OC21011 encountered primarily tonalite with several zones of disseminated pyrite mineralization but did not return any significant intervals.

Drill holes OC21009 and OC21010 were designed to test the Terra-Au showing where historical sampling of veins and shears veins returned up to 5.70 g/t Au. Both holes intercepted mainly granodiorite to tonalite with zones of shearing/alteration and quartz-tourmaline veining. Drill hole OC21009 returned 0.23g/t Au over 4.54m from 23.47 – 28.01m as well as a lower zone of intense shearing and disseminated pyrite within granodiorite that returned 0.354 g/t Au over 6.36m from 172.28 – 178.84m, including 0.924 g/t Au over 0.64m. Drill hole OC21010 intercepted sheared tonalite with 0.3% disseminated pyrite that returned 0.22 g/t Au over 5.05m as well as a carbonate vein with 2% vein-related pyrite that returned 4.24 g/t Au over 0.51m from 90.36 – 90.87m.

Drill hole OC21012 tested the Wing Lake showing where historic grab samples of chalcopyrite and pyrite hosted in quartz veins have yielded up to 1.300 g/t Au. Hole OC21012 mainly intercepted mafic volcanic tuff with occasional chalcopyrite/pyrite mineralization associated with quartz veinlets and did not return any significant results.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

Tim J. Termuende, P.Geo., President and CEO of Taiga Gold Corp commented recently on the results: ”we are encouraged by the positive results obtained by the inaugural drill program completed by Taiga on the Orchid property and applaud the sound exploration work carried out to date by TerraLogic Exploration. The confirmation of significant subsurface gold mineralization in numerous discrete locations on the property validates the confidence that management has placed in the property and paves the way for future systematic exploration”.

QA/QC

Geological and geotechnical logging and core sampling were completed at a facility on the Orchid property. Assay intervals were based on visual identification of mineralization, presence and density of quartz veins and lithological boundaries. Terralogic Exploration geologists maintained chain of custody and sampling procedures reported in this news release according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.

Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay – AA finish (Au-AA23). Samples that returned over 1ppm Au by Au-AA23 were re-analysed using gold (Au) 30g Fire Assay – Gravimetric finish (Au-GRA21).  

On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Orchid Drilling Program included certified reference material (“CRM’s”) and blanks that were inserted into each sample batch in order to verify the analytical from the lab. The CRM’s from all holes reported passed within 3 standard deviations and the blanks returned acceptable values. All of the lab internal standards and duplicates were within acceptable values.

See Orchid Project Summary Map here

Orchid Property History

The Orchid project was staked by Eagle Plains Resources in 2014 and was subsequently transferred to Taiga as part of a plan of arrangement completed in 2018. 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 61.30 g/t and 41.3 g/t Au (Orchid Au Zone), 19.2 g/t Au (Tim’s Showing), 12.7 g/t (Eureka), 11.4g/t Au over 1.9m (Versary) and 8.5 g/t (Terra Zone) as well as significant Ag (144.5 g/t), Cu (3.9%), and Mo (2600 ppm). The property is located within the Trans Hudson Corridor, an ancient belt of rocks that contain significant mineral deposits such as the +42M ounce Homestake gold deposit in South Dakota, the Flin Flon and Snow Lake VMS districts and the nearby Seabee/Santoy Gold Complex. 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. The Seabee Gold Operation has been in continuous production since 1991 and has produced over 1.57 million ounces of gold from the Seabee and Santoy deposits. Both the Seabee Gold Operation and the Orchid project are underlain by rocks of the Pine Lake greenstone belt. The above results were taken in part from Saskatchewan Mineral Deposit Index (“SMDI”) descriptions. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work in the Orchid property area.  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.

Qualified Person

The four-week program at the Orchid was supervised by Jarrod Brown, P.Geo. of Terralogic Exploration Inc. of Cranbrook, B.C. and relied extensively on support services and personnel from the town of Deschambault Lake, SK for which we express our gratitude. Drilling services were contracted to Bryson Drilling of Archerwill, Saskatchewan. 

Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and a Director of Taiga Gold Corp., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

About Taiga Gold Corp

Taiga Gold Corp. was created in 2018 through a plan of arrangement with Eagle Plains Resources Ltd. and owns 6 projects targeting gold located within the Trans Hudson Corridor in the area near the Seabee Gold Operation, owned and operated by SSR Mining.  Taiga’s flagship Fisher property is currently being explored by the Fisher JV, which is owned 20% by Taiga. Taiga also owns a 2.5% NSR over the majority of the Fisher property area, which includes a $100,000 annual advance royalty payable to Taiga. Taiga’s 100%-owned Leland, Chico and SAM properties are currently under option to partners SKRR Exploration, Aben Resources and Tactical Resources Corp (formerly DJ1 Capital), respectively.  Taiga continues to advance its 100%-owned Orchid and Mari Lake projects. 

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 one of the best places 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

For further information on TGC, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at www.taigagold.com

 

Cautionary Note Regarding Forward-Looking Statements

Neither the CSE Exchange nor its Regulation Services Provider 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.

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