Vancouver, British Columbia — (July 6, 2021) – Thesis Gold Inc. (“Thesis” or the “Company”) (TSXV: TAU.V) has completed an extensive 125km2 airborne versatile time-domain electromagnetic survey (VTEM) covering approximately 70% the Company’s flagship Ranch Gold Project in the Golden Horseshoe of north-central British Columbia, Canada. Anomalous gold in surface geochemistry and drilling at Ranch is often situated within or directly adjacent to resistivity highs coincident with linear northwest and/or northeast trending magnetic lows (Figure 1 & 2). This relationship validates VTEM as a viable exploration tool and has yielded several prospective target areas, such as Golden Furlong, for follow-up fieldwork during the upcoming field season (Figure 1).
Nearly all gold occurrences within the Ranch project area are situated within linear northwest- and/or northeast-trending magnetic lows which correspond to structural corridors that have acted as conduits for gold-bearing hydrothermal fluids (Figure 1). The VTEM survey has identified multiple kilometre-scale magnetic anomalies that exhibit a linear geometry parallel to the major structural control orientations for mineralization and are largely untested by surface geochemistry, mapping, or drilling. These prospective structural corridors will be the focus of extensive and systematic surface sampling and bedrock mapping campaigns to produce robust drill targets.
Figure 1: Ranch property gold occurrences over VTEM magnetic calculated vertical gradient (CVG) and interpreted structure. Inset: VTEM calculated B-field time constant (TAU-BF) at Golden Furlong East with interpreted structure.
Figure 2: a) VTEM magnetic calculated vertical gradient (CVG) at Thesis II, Thesis III and Bingo, b) VTEM calculated B-field time constant (TAU-BF) at Thesis II, Thesis III, and Bingo
Ewan Webster, President and CEO, commented, “VTEM is a proven exploration tool and has delineated several promising targets that merit additional work within the Ranch property. Combined with surface geochemistry, bedrock and alteration mapping, and ground-based geophysics, targets developed using the VTEM dataset are robust and increase our confidence in advancing these targets to the drilling stage and generating positive results.”
Golden Furlong is a newly delineated target that will be advanced during the 2021 field season and has a prospective geophysical signature in the VTEM dataset, with coincident high resistivity and low magnetics in a northeast-oriented linear geometry. Elsewhere within the Ranch project area this geophysical response strongly correlates with mineralization. Sparse historical rock grab sampling has yielded up to 8.43 g/t gold at Golden Furlong, and the target has not been systematically soil sampled or mapped.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors
Thesis Gold Inc.
Ewan Webster Ph.D., P.Geo.
President, CEO and Director
About Thesis Gold Inc.
Thesis Gold is a mineral exploration company focused on proving and developing the resource potential of the 17,832-hectare Ranch Gold Project located in the “Golden Horseshoe” area of northern British Columbia, approximately 300 km north of Smithers, B.C. For further details about the Ranch Gold Project, please refer to the Company’s current geological Technical Report dated September 18, 2020 available under the Company’s profile on SEDAR at www.sedar.com.
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Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company’s recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, 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 statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual management’s discussion and analysis which is available on the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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