October 27, 2022 – Taurus Gold Corp. (“Taurus” or the “Company”) (CSE:TAUR) is pleased to announce that it has engaged SGS Canada Inc. (“SGS”) to complete the first modern Mineral Resource Estimate for the Company’s Charlotte gold-silver property. The road-accessible Charlotte property is located in the Dawson Range mining district, 60 km west of Carmacks, Yukon Territory, Canada.
SGS has significant experience in estimation and modelling of mineral deposits in the Dawson Range region. The focus of their work will be on the Flex Zone, a network of stacked epithermal gold-silver quartz veins exposed on surface. Taurus completed a drill program in 2020 that built on positive results from drilling and exploration programs conducted in 2010 to 2012 and extended high-grade gold-silver mineralization on the Flex Zone to the west, south, to depth and down plunge.
“SGS’s work will serve as a foundation for further expansion of resources on the Charlotte property as we continue exploration. In addition, we feel there is considerable potential for finding new discoveries on our large land package in an established mining district,” says Trevor Harding, CEO. “We also note that mining infrastructure development in the Dawson Range area is advancing with ongoing construction of the Carmacks Bypass Road Project. Completion of this first section of the Casino Project road will allow for improved safety and access to mineral development and exploration activities.”
SGS has completed their site visit to the Charlotte property and is currently working with Taurus geologists to validate the drill hole database, conduct analysis, and construct a model for open pit and underground resources.
About the Flex Zone
The Flex Zone is located on an all-season access road; exposed mineralization on surface was completely stripped during the 1990s and reveals a mineralized zone approximately 80 metres wide by 350 metres long. The Flex Zone is delineated over a northwest-trending strike length of 550 m and is defined by a network of stacked epithermal gold-silver quartz veins, which range from 5 cm to 1.1 m in apparent thickness, within precious metal enriched wallrock. The strongest mineralization occurs where northwest trending Flex Zone veins are offset by east to northeast tending faults. These highly mineralized areas tend to repeat at regular intervals and retain their grade tenor and widths at depth. Mineralization consists of varying amounts of pyrite, arsenopyrite, sphalerite, galena, chalcopyrite, stibnite, boulangerite and sulphosalts, including pyrargyrite. Wallrock silicification at the Flex vein system extends precious metal grade widths up to 7 m.
About the Charlotte Property
The Charlotte property lies in the Dawson Range portion of the Tintina Gold Belt. The region is characterized by gold veins and breccia, as well as copper-gold porphyry mineralization. The property consists of 139 full or fractional quartz mineral claims and mineral leases that cover an area totalling 2,357.1 hectares (approximately 23 km2). All but two of the mineral claims are contiguous. The Charlotte property is host to several mineralized zones of interest including the Huestis, Webber, and Flex precious metal vein systems in the southern part of the property and under-explored porphyry copper mineralization in the northwest. Taurus Gold Corp. has an option to earn 100% interest in the Charlotte property. Other active mineral projects in the Dawson Range area include Rockhaven Resources’ Klaza Project, Triumph Gold’s Freegold project and Granite Creek Copper’s Carmacks project.
The Charlotte property is underlain by Devonian and older metaplutonic, metasedimentary, and metavolcanic rocks. Middle Cretaceous granodiorite and quartz-feldspar porphyry of the Dawson Range phase of the Whitehorse Plutonic Suite, and Middle Cretaceous andesite of the Mt. Nansen Group volcanic suite variably intrude the host rocks.
The technical information in this news release has been approved by Ken MacDonald, P. Geo. who is an independent “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Trevor Harding
President and Chief Executive Officer
Taurus Gold Corp. Phone: 587-608-5035 #239 9768-170th Street, Edmonton, AB T5T 5L4
Forward-looking Information:
This news release contains “forward-looking information” or “forward-looking statements” within the meaning of Canadian securities legislation. All statements included herein are forward-looking, other than statements of historical fact. Generally, the forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “is expected”, or “will continue”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information and forward-looking statements, while based on management’s best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Taurus Gold to be materially different from those expressed or implied by such forward-looking information or forward-looking statements. Although Taurus Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The forward-looking statements and forward-looking information are made as of the date hereof and Taurus Gold disclaims, except as required by applicable securities laws, any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.