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Thesis Gold identifies "highly prospective, multi-kilometre" drill target at Albert Humps, Ranch project

Published: 07:46 28 Mar 2022 EDT

Thesis Gold Inc -
Thesis Gold's surface geochemistry, airborne and ground-based geophysics, and bedrock mapping programs in 2021 represented the first comprehensive coverage of much of the Ranch property

Thesis Gold Inc (TSX-V:TAU) told investors it has identified another "highly prospective, multi-kilometre" drill target at its Ranch property in the famous Golden Horseshoe area of British Columbia, Canada.

The near 0.5 kilometre (km) by 2 km anomalous footprint at Alberts Hump is consistent with epithermal-style mineralization and was defined by last year's exploration and is the largest target discovered so far at Ranch.

The company noted that it still has around C$35 million in working capital to fund its ongoing approximate 50,000 metre (m) drill program, which will include testing Alberts Hump.

"The Alberts Hump area displays many coincident anomalies from various datasets consistent with epithermal gold mineralization at Ranch," said Ewan Webster, CEO of Thesis, in a statement.

READ: Thesis Gold uncovers new south zone at Thesis II zone at Ranch project, British Columbia

"Our recent discoveries at both the Thesis II and Thesis III zones have demonstrated the excellent discovery potential that exists on the project and with our roughly 50,000 metre ongoing 2022 drilling campaign, we hope to continue this success and will soon focus our efforts on this very exciting new target at Alberts Hump," he added.

The firm's surface geochemistry, airborne and ground-based geophysics, and bedrock mapping programs in 2021 represented the first comprehensive coverage of much of the Ranch property.

The size of the footprint at Alberts Hump is significantly larger than others observed at Ranch, including anomalies observed at the high-grade Bonanza, Thesis III, and BV zones that saw historical gold production, the company said.

Coincident, multi-kilometre soil geochemistry anomalies in important pathfinder elements also remain open to the southwest.

The Ranch project lies about 300 km north of Smithers, British Columbia, and is home to 21 known near-surface epithermal gold deposits and prospects, and the company reckons there is a two million ounce exploration target there.

Notably, 10,000 ounces of gold have already been produced from Ranch from three small open pits, while 35,500m of core drilling has been undertaken in 433 holes.

Contact the author at giles@proactiveinvestors.com

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