Canadian Gold Corp. Field Exploration Underway at Hammond Reef South and Tartan West

Canadian Gold Corp. Field Exploration Underway at Hammond Reef South and Tartan West

Canadian Gold Corp. (TSXV: CGC,OTC:STRRF) ("Canadian Gold" or the "Company") is pleased to announce the commencement of two independent field exploration programs, one at the Tartan West Property (recently optioned from Hudbay Minerals Inc.) located immediately adjacent to the west of the Tartan Mine Property in Flin Flon, MB, and the other at the Hammond Reef South Property located near Atikokan, Ontario, adjacent to Agnico Eagle's fully permitted Hammond Reef Gold Deposit.

Hammond Reef South

The 2025 field exploration program is designed to follow up on the high grade gold samples discovered last year, which remain open along strike. This program will be funded using proceeds of a recently closed $385,000 private placement of flow-through shares.

Last year's program successfully identified a new high-grade gold zone with assays returning 35.4 gpt, 11.6 gpt, 7.1 gpt, and 2.9 gpt gold (see: September 25, 2024 CGC News Release). The Hammond Reef South property is located only 2 km from Agnico Eagle's Hammond Reef Deposit, which contains a large mineral resource of more than 5 million ounces of gold and occurs in the same geological environment (Fig. 1). Exploration is currently focused on evaluating the extent of the gold system as well as the broader mineralized corridor that extends over a 6.7 km strike and parallel to Agnico Eagle's Hammond Reef Deposit (Fig.1).

The current program will include follow-up surface work along strike to better evaluate the lateral extent, width and continuity of the gold system, building on last year's strong results (Fig.2).

In addition, the Company is also planning a geophysical program to target areas of higher sulphide content, which have shown a strong correlation with the gold mineralization. Together, the surface work will focus on tracing the trend of the mineralization while the geophysics will help identify potential extensions of the system beneath cover and at depth to refine high-priority targets for drilling.

Tartan West Property

Field crews have also commenced a ground reconnaissance program along the Tartan Shear Zone on the Tartan West Property (Fig. 3).

The current Tartan West program consists of detailed mapping, prospecting, and sampling to evaluate and verify the historic high-grade surface showings (Fig.4), which will aid with prioritization of areas for additional work such as trenching, stripping and diamond drilling.

Historic high-grade gold surface samples with no follow-up drilling returned: 118 gpt gold and 53.5 gpt gold (Fig. 4).

Highlights of the historic drilling include extremely high-grade results: 44.2 gpt gold over 2.5 metres, 68.9 gpt gold over 1.1 metres, 60.0 gpt over 1.1 metres and 595.2 gpt over 0.2 metres. Additional drill assays have returned results comparable to the Tartan Mine, including 11.6 gpt gold over 3.8 metres, 7.7 gpt gold over 4.4 metres, 6.4 gpt gold over 2.4 metres and 12.9 gpt gold over 1.13m (Fig. 4).

The program at the Tartan West property is an important first step toward a goal of potentially levering future infrastructure investments over an expanded resource base, delivering enhanced economies of scale including:

  1. the potential to build a single process facility at the Tartan Mine and source ore from multiple areas along the contiguous Tartan Shear Zone, reducing the capital needed on a per ounce basis once a decision has been made to restart production; and
  1. ability to access Tartan West mineralization in the future from current and planned Tartan Mine underground infrastructure.

For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com

Social Media Accounts:
X (Twitter)
Instagram
Facebook
LinkedIn

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

Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.

About Canadian Gold Corp.
Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). (Tartan Lake Project Technical Report, Manitoba, Canada, April 2017 authored by Mining Plus Canada Consulting Ltd.). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Inc. (NYSE & TSX: MUX) holds a 5.6% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Inc., holds a 32.5% interest in Canadian Gold.

CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_001.jpg

Figure 1: Hammond Reef South Gold Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_002.jpg

Figure 2: Hammond Reef South 2024 Surface samples

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_003.jpg

Figure 3. Location of the Tartan West Property.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_004.jpg

Figure 4. Location of highlight historic gold occurrences on the Tartan West Property.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/259099_b04364b4045a6984_004full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259099

News Provided by Newsfile via QuoteMedia

CGC:CC
The Conversation (0)
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
Yellow hard hat surrounded by Australian flags.

Australia’s Mining and Energy Sector Set to Add 22,000 Jobs by 2030

The Australian Resources and Energy Employer Association (AREEA) has released its 2025–2030 workforce forecast, projecting a surge in sector employment as nearly 100 mining and energy developments move ahead.According to the report, 96 projects are “likely to proceed,” creating an estimated... Keep Reading...
Gold bars and silver coins scattered on a surface.

Spot Gold Breaches US$4,000, Silver Price Testing US$50

Gold marked a new price milestone on Wednesday (October 8), with spot prices breaking US$4,000 per ounce. The spot price hit a fresh record, rising as high as US$4,056.14 in mid-day trading. Future prices for gold had breached US$4,000 for the first time on Tuesday and have continued to climb... Keep Reading...
Gold nuggets on dark ground.

Top 5 Junior Gold Mining Stocks on the TSXV in 2025

Both major and junior gold stocks are seeing heightened interest in 2025 amid a surging gold price, which has climbed more than 50 percent to nearly US$4,000 per ounce since the start of the year and set dozens of new record highs along the way.This staggering rise has been fueled by numerous... Keep Reading...

Latest Press Releases

Related News