October 17, 2022 – Taurus Gold Corp. (“Taurus” or the “Company”) (CSE:TAUR) is pleased to provide an update on its flagship road-accessible Charlotte gold-silver property, located in the Dawson Range mining district, 60 km west of Carmacks, Yukon Territory, Canada.
“Firstly, we want to thank all shareholders who have supported the Company as we transitioned to a public company. Our access to the capital markets will help us advance the development of the Charlotte property,” stated Trevor Harding, CEO. “Our fieldwork and ongoing analysis of the comprehensive historical database has validated the significant exploration upside on the Charlotte property, confirming and expanding on some $9.6 million in historical field program expenditures undertaken on the property since 2006.”
The Company is in the process of commissioning the first modern resource estimate to be completed on the Charlotte property and will provide details in due course. Results from the resource estimate work and integration into the extensive exploration database for the Charlotte property will enable the Company to quickly and cost-effectively prioritize exploration on known precious metal vein systems and target new discoveries in less explored areas.
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. The main area of interest since 2010 is the Flex Zone; a network of stacked epithermal gold-silver quartz veins. Taurus completed a drill program in 2020 that extended high-grade gold-silver mineralization on the Flex Zone to the west, south, to depth and down plunge. Mineralization remains open in all directions and presents new targets for future drilling. Highlights from the most recent drill programs is provided below.
Summary of Historical Drill Intercept Highlights – Flex Zone
*from drill programs in 2010, 2011, 2012 as described in the Company’s 2022 Technical Report filed on www.sedar.com. Intervals are apparent width
- DDH-10-240: 25 m of 1.66 ppm gold and 67.91 ppm silver including 1.7 m of 13.14 ppm gold and 778.03 ppm silver
- DDH-10-243: 9 m of 5.06 ppm gold and 138.09 ppm silver including 3.05 m of 14.02 ppm gold and 28.57 ppm silver
- DDH-10-245: 35 m of 20.91 ppm gold and 131.54 ppm silver
- DDH-11-257: 05 m of 9.22 ppm gold and 489.67 ppm silver
- DDH-12-278: 08 m of 4.26 ppm gold and 73.97 ppm silver
- DDH-12-280: 4 m of 51.5 ppm gold and 780.56 ppm silver and 1.76 m of 25.93 ppm gold and 1,305.44 ppm silver
In 2020 Taurus completed 2,347 m of drilling on the Flex Zone in eleven holes. Hole depths ranged from 161.5 m to 274.4 m and are shown in the attached figure. Highlights include:
- Hole DDH-282 intersected 5.0 m of 9.73 ppm gold and 135.77 ppm silver including 2.0 m of 24.2 ppm gold and 338 ppm silver
- Hole DDH-284 intersected 9.0 m of 5.48 ppm gold and 138.78 ppm silver over 9.0 m including 1.0 m of 45.10 ppm gold and 1,131 ppm silver
- Hole DDH-289 intersected 11.0 m of 4.44 ppm gold and 230.35 ppm silver including 2.0 m of 19.70 ppm gold and 968 ppm silver
- Hole DDH-290 intersected 11.0 m of 2.94 ppm gold and 200.08 ppm silver including 0.70 m of 17.20 ppm gold and 2,211 ppm silver
Note: intervals are apparent width
About the Flex Zone
The Flex Zone is located on an all-season access road. It 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. 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.
President and Chief Executive Officer
Taurus Gold Corp. Phone: 587-608-5035 #239 9768-170th Street, Edmonton, AB T5T 5L4
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.