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TDG Gold Corp. Provides Progress Update on Shasta Initial Mineral Resource Estimate, Toodoggone District, BC

Thursday, 12 May 2022 07:00

TDG Gold Corp.

WHITE ROCK, BC / ACCESSWIRE / May 12, 2022 / TDG Gold Corp - (TSXV:TDG) (the "Company" or "TDG") is pleased to provide a progress update on the initial NI 43-101 Mineral Resource Estimate ("MRE") for its former producing gold-silver ("Au-Ag") Shasta mine, Toodoggone District, B.C. Resource modelling work is being undertaken for TDG by Moose Mountain Technical Services ("MMTS"), led by Sue Bird, P.Eng., and TDG expects to publish the Shasta initial MRE shortly.

The 8,048 metres ("m") of diamond drilling completed at Shasta in 2021 was primarily focused in the vicinity of the historical mine workings; plus one outlying target area located ~700 m south of the JM Pit, which encountered high-grade Au-Ag in the Cayley-Rainier Zone (see TDG news release Feb 07, 2022). The Shasta 2021 drilling tested ~22% of the exploration target range area published in TDG's news release of Mar 03, 2021 and ~12% of the overall footprint of known mineralization at Shasta (see Figure 1).

TDG Gold Corp., Wednesday, May 11, 2022, Press release picture

Figure 1. Shasta 2021 drilling tested ~22% of the March 2021 Exploration Target Range Area.

MMTS has reported that the preliminary assays from the 2021 drilling correlate well with the historical published assays but with an observable low bias in the historical reported Au-Ag grades. The Shasta initial MRE will therefore focus on the area around the historical mine workings and is expected to cover ~40% of the 2021 published exploration target range area.

TDG's ongoing interpretative work indicates that Shasta is a breccia and fault block system that does not conform to a classic low sulphidation epithermal vein deposit model. The opportunity at Shasta is therefore multi-directional with key target areas of known mineralized footprint of Shasta remaining to be systematically and comprehensively explored.

TDG's 2022 exploration program is fully funded and will prioritize drill testing the known mineralization which extends south from the JM Pit for ~700 m to the high-grade Au-Ag intercepted in the Cayley-Rainier Zone (see Figure 2). TDG will also evaluate potential extensions of the 2021 drilling to the north, west and south; the potential for the Cayley-Rainier Zone to continue to the south; the undrilled central area; the other known outlying target zones with historically demonstrated mineralization; and, for a fault down dropped block of mineralization located deeper along the Shasta Fault.

TDG Gold Corp., Wednesday, May 11, 2022, Press release picture

Figure 2. Shasta 2022 Drill Target Areas.

QA/QC Update

Internal Quality Assurance/Quality Control ("QA/QC") on the 2021 assays is ongoing and TDG has identified a potential low bias in the blind certified reference materials ("CRMs") reported preliminary Au grades. TDG estimates that this may mean actual Au grades are 0% to 4% higher than the preliminary results TDG has previously reported. TDG is following up with the analytical laboratory (SGS Canada Inc.) to investigate. Pending the outcome of the investigation, TDG will determine if all 2021 samples need to be re-assayed for fire assay Au analysis. Subject to the timings and outcome of the ongoing QA/QC analysis, it is likely that the initial Shasta MRE will be calculated to an inferred category of resource.

Qualified Person

The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.

This news release includes historical information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.

About TDG Gold Corp.

TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. In 2022, TDG will prioritize drilling the known mineralization at Shasta which extends south for ~700 metres from the historical JM Pit. TDG currently has 96,343,142 common shares issued and outstanding.


Fletcher Morgan
Chief Executive Officer

For further information contact:

TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE: TDG Gold Corp.

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