Cassiar adds 7M new indicated tonnes to Taurus resource

A resource update for Cassiar Gold’s (TSXV: GLDC) Taurus project in northern British Columbia has converted almost 20% of inferred tonnages to indicated over the initial estimate from three years ago.

With a cutoff grade of 0.5 gram per tonne, the updated resource includes 7.13 million indicated tonnes grading 1.66 grams gold for 380,000 oz. and 48.1 million inferred tonnes at 1.11 grams gold for 1.71 million oz., Cassiar said Thursday. That represents a 23% rise in contained gold in the inferred category from 2022, when it was estimated at 1.39 million oz. grading 1.14 grams gold.

“Our cumulative programs have advanced a robust gold deposit that hosts mineralization from surface, with continued exploration upside,” CEO Marco Roque said in a release. “We look forward to building on this foundational resource and unlocking the potential of the prospective Cassiar land package.”

Located near the Yukon border, Taurus is part of Cassiar North, one of two main project areas that make up the company’s 590-sq.-km flagship Cassiar gold property. The other area, Cassiar South, hosts numerous gold showings, historical workings and exploration prospects.

New holes

The latest estimate for Taurus draws on about 65,667 metres of drilling across 598 holes sampled by the company and previous operators. It incorporates results from 107 new holes and about 31,237 metres of core drilled since 2022.

Taurus holds “strong potential for expansion in most directions with several areas of mineralization identified beyond the extent of the current pit shell model and sparse drill data between mineralized areas,” the company said. The deposit covers about 0.3% of the Cassiar property mineral tenure within an area that hosts several prospective outlying targets.

Cassiar shares were unchanged at C$0.245 in Toronto Thursday morning, giving the company a market capitalization of about C$32 million. The stock has ranged between C$0.18 and C$0.37 in the past year.