Winter Drill Program Returns Highest Gold Values Reported to Date on Fisher Gold Project, Saskatchewan

Cranbrook, B.C., July 13th, 2021: Taiga Gold Corp (CSE: “TGC”) (“Taiga”) has received analytical results from SGO Mining Inc., a wholly owned subsidiary of SSR Mining Inc. (“SSRM”) (TSX: SSRM) (NASDAQ: SSRM) containing analytical results from drilling carried out in early 2021 on the Fisher Property (the “Property”) located 125km east of La Ronge, Saskatchewan. The Property is contiguous to the north, south and east with SSRM’s Seabee Gold Operation and is owned and operated by the Fisher Joint Venture (“Fisher JV”), comprised of 80% ownership by SSRM and 20% by TGC. 2021 Q1 drilling focussed on mineralization at the Mac North Zone, discovered earlier by SGO personnel. Analytical results from this program returned the highest gold values reported to date at Fisher, confirming the continuity and tenor of gold mineralization in this area. Drilling activity was suspended due to break-up conditions in early April and resumed in June 2021 (see TGC news release June 3rd, 2021). This current drilling activity has recently been concluded (details below).

Highlights:

  • Widespread high-grade mineralization confirmed by drilling at Mac North Zone over a down-plunge area of 180m x 650m- open in all directions 
  • All four holes completed reported significant gold mineralization (>1 g/t Au), with visible gold reported in two holes
  • DDH FIS 21-065 returned 4.91 g/t Au over 8.13m from 341.80m to 349.93m
    • Including 7.25 g/t Au over 5.13m from 344.8m to 349.93m
    • Including 22.99 g/t Au over 1.46m from 348.47m to 349.93m
  • DDH FIS 21-064 returned 3.76 g/t Au over 3.63m from 134.25m to 137.88m
    • Including 7.2 g/t Au over 0.88m from 137.00m-137.88m
  • DDH FIS 21-062 returned 3.51 g/t Au over 2.83m from 260.95m to 263.78m

Drill intervals estimated at 70-90% of true widths

Listen to a debrief of this news release by Tim Termuende, Taiga Gold President and CEO here

See Fisher Area Location Map here

During the winter of 2021, the Fisher JV drilled 4 holes to completion for a total of 1156.2m (3,792.2’). The program was based out of an all-season exploration camp located within Fisher property boundaries and focused on defining gold mineralization at the Mac North zone. Significant intercepts from this program are summarized in the table and links below:

Hole ID Interval (m) Gold (g/t) Drilled Width (m)* Grade x Width Zone
FIS-21-062 260.95 263.78 3.51 2.83 9.93 Mac North Main
             
FIS-21-063 157.74 158.74 1.65 1.0 1.65 Mac North Main
             
FIS-21-064 134.25 137.88 3.76 3.63 13.64 Mac North Main
including 137.00 137.88 7.2 0.88 6.34  
             
FIS-21-065 341.80 349.93 4.91 8.13 39.92 Mac North Main
including 344.80 349.93 7.25 5.13 37.22  
and 348.47 349.93 22.99 1.46 33.56  

*drilled widths estimated at 70-90% of true widths

See Fisher Drill Location and Results Map here

See Mac North Long Section here

See Fisher Significant Results Table here

Since optioning the Fisher Property in 2016, SSRM and the Fisher JV have completed extensive systematic exploration including prospecting, soil geochemical sampling, detailed geological mapping, geophysical surveys, and 36,897m (121,053’) of drilling in 95 holes. Expenditures total over CDN$14,000,000, resulting in over 16,000 individual core samples collected. In addition, SSRM has made cash payments to Taiga and predecessor Eagle Plains Resources of CDN$3,800,000. Taiga independently holds a 2.5% royalty on the majority of claims comprising the Fisher property, subject to underlying royalties on certain dispositions. This royalty includes a $100,000 annual advance royalty payment.

Update on Current Fisher Drilling Activity

The 2021 Spring/Summer drill program at the Fisher property has recently been concluded. A total of 2,835.9m (9,301.8ft) of drilling in 7 holes was completed targeting the Mac (2 holes), Mac North Hangingwall (2 holes), and previously untested Jasmine Zones (3 holes). Results from drilling will be released once they have been received, QAQC procedures completed, and results compiled and interpreted.  Ongoing exploration activity is expected to continue following interpretation and analysis of the current work program.

Fisher Property Summary

Both the Fisher Project and the Seabee Gold Operation are located within the Pine Lake Greenstone Belt. Ore geology at the Seabee Gold Operation consists of high-grade gold hosted by vein mineralization associated with shear zones that transect mafic meta-volcanic and intrusive rocks, as well as granitic rocks emplaced during the regional deformation events impacting Pine Lake rocks during the Proterozoic. Mineralization at the Seabee Gold Operation occurs at the Seabee and Santoy mine complexes, located approximately 14km apart. The former is affiliated with the more westerly-oriented Laonil Lake shear zone, while the latter is hosted by the Santoy shear, a regional north-trending shear zone that has been traced for >20km over much of the Fisher Property. 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.  

Analytical Methods and QA/QC Procedures

Samples collected for assay from diamond drill core are sent to TSL Laboratories in Saskatoon, SK for analyses. The drill core is split and half of the core is retained. The assay lab implements internal analytical quality control measures consisting of inserting gold control samples (blanks, certified reference material and field and pulp duplicates) in all sample batches submitted for assaying. SSRM inserts standards approximately every 20 samples, as well as two pulp duplicates and one geological blank in every batch with FA/AA work, and three pulp duplicates for FA/Gravimetric work.
 
Samples are analysed for gold by FA/AA using a 30 g charge. Assay values 1000 ppb Au or greater, FA/AA finish, are re-assayed using FA/Gravimetric 1 AT (29.16 g) charge. Samples values 5 g/t Au or greater are analyzed by screened metallics and are reported on separate certificates. Au detection limit FA/AA - 5 ppb, upper limit 3000 ppb; Au detection limit FA/Gravimetric - 0.10 g/t.

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 reviewed and approved the scientific and technical disclosure in the news release.

About Taiga Gold Corp

Taiga Gold Corp was created 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 Joint Venture between SSR Mining and Taiga. Taiga’s 100%-owned Leland, Chico and SAM properties are currently under option to partners SKRR Exploration, Aben Resources and Tactical Resources (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 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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