Canadian Gold Corp. Tartan South Zone Continues to Hit: 140m Vertical Expansion Intersects 9.4 gpt Gold/ 3.3m

Canadian Gold Corp. Tartan South Zone Continues to Hit: 140m Vertical Expansion Intersects 9.4 gpt Gold/ 3.3m

South Zone Now 310m (120%) Below 2017 Resource

Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce ongoing drill results from its Phase 4 drill program at the 100%-owned Tartan Mine, near Flin Flon, Manitoba. Drilling has successfully expanded the South Zone by an additional 140 metres vertically in depth, for a total of 310 metres or 120% below the 2017 resource estimate since drilling began in March of this year (Fig. 1 & 2). The South Zone is a parallel complex of mineralization to the Main Zone that is believed to host the majority of the mine's resources.

On March 3, 2025, the Company released its first deep test of the South Zone, which successfully intersected 6.1 gpt gold over 6 metres, 170 metres below the 2017 resource estimate. The subsequent hole released today returned 9.4 gpt gold over 3.3 metres and was located a further 140 metres below the initial test (Fig. 1 & 2). This result significantly expands the South Zone mineralization at depth and has important implications, as it appears the South Zone could have similar depth potential to the Main Zone, which the Company has extended below the 2017 resource limit of 575 metres to 1,030 metres below surface-a 79% increase-and which remains open for expansion.

"We are very excited that the Phase 4 drill program continues to deliver strong results and validates our thesis that the South Zone could represent a heretofore underexplored source of significant mineralization. This significant expansion of the South Zone will have important implications for potential restart of the Tartan Mine, as it would increase the number of gold ounces per vertical metre, lowering the development costs on a per-ounce basis and allowing for higher production." - Michael Swistun, CFA, President & CEO

Additional drilling in this release focused on expanding the mineralization above the initial deeper hole TLSZ25-32 by wedging above 16 metres, and to the east and below by 18 metres (Fig. 1). The hole drilled above the initial result returned 7.6 gpt gold over 4.0 metres. The first test to the east and below also successfully intersected the zone, but at a lower grade of 3.3 gpt gold over 3.0 metres.

Table 1. Drilling Assay Highlights

Drill Hole From
(metres)
To
(metres)
Interval1
(metres)
Depth Below Surface
(metres)
Gold Grade
(gpt)
Zone2
TLSZ25-32W1 503.00 506.00 3.00 395 3.3 SZ
TLSZ25-32W2 472.15 490.00 17.85 425 2.7 SZ
Including 474.00 478.00 4.00 7.6
Including 474.00 478.00 2.00 11.6
TLSZ25-33 613.75 619.00 5.25 550 6.1 SZ
Including 613.75 617.00 3.25 9.4
Including 615.00 615.90 0.90 19.3
And 639.00 641.00 4.00 4.4
Including 639.00 641.00 2.00 6.9

 

1Interval widths reported; true widths of the system are not yet known due to lack of drilling. 2SZ refers to the South Zone.

Table 2. Details of Drill Hole Reported in this News Release

Drill Hole Azimuth
(Degrees)
Dip
(Degrees)
Length
(metres)
Easting
(UTM)
Northing
(UTM)
TLSZ25-32W1 360 -61 533 324882 6081867
TLSZ25-32W2 360 -61 512 324882 6081867
TLSZ25-33 002 -66 686 324852 6081843

 

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

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.

Technical Information

The samples collected by Canadian Gold Corp. described in this news release were transported in secure, sealed bags for preparation and assay by Act Labs in Thunder Bay, Ontario. The samples reported are ½ core samples of NQ-size core, crushed in their entirety to 80% passing -10 mesh, with one 500 g subsample analyzed for gold by photon assay.

About Canadian Gold Corp.

Canadian Gold Corp. is a Toronto-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). 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 Mining Inc. holds a 5.7% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Mining, holds a 32.9% 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/3276/251680_e9e8c26604645af0_001.jpg

Figure 1. Tartan Mine - South Zone Longitudinal Section illustrating the location of holes reported in this release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/251680_e9e8c26604645af0_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3276/251680_e9e8c26604645af0_002.jpg

Figure 2. Tartan Mine - Main and South Zone 3D model showing the location underground infrastructure and holes reported in this release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/251680_e9e8c26604645af0_002full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251680

News Provided by Newsfile via QuoteMedia

CGC:CC
The Conversation (0)
Standing gold bar in front of stacks of gold bars. Words read "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Kirkland Lake Discovery Gains 88 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released July’s labor force survey on Friday (August 8). The data shows that the Canadian economy shed 41,000 workers during the month and registered a 0.2 percent decline in the employment rate to 60.7 percent.

However, the unemployment rate was unchanged at 6.9 percent.

Keep reading...Show less
Gold bars and scattered coins on a shiny surface.

OPINION — Goldenomics 102: The Shadow Price of Gold

This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Keep reading...Show less
LaFleur Minerals (CSE:LFLR)

LaFleur Minerals Provides Swanson Drilling Update, Acquires Key Swanson Claim, and Files Updated NI 43-101 Technical Report

LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to announce that to date, seven (7) diamond drill holes totaling 1,764 metres have been completed at its Swanson Gold Project ("Swanson") since drilling commenced in early July (Figure 1). Three (3) of these holes have been sampled, sawn, and sent to the assay laboratory for analysis, with final results expected in the coming weeks. The Swanson Gold Project is particularly well positioned as it lies in the heart of the Abitibi Greenstone Belt near Val-d'Or, Québec, a globally renowned gold district.

Drilling is currently focused on the northern part of the Swanson Gold Project near the Swanson Gold Deposit, which hosts an Indicated and Inferred Mineral Resource Estimate. These regional exploration holes are testing geological, geophysical, and geochemical targets up to 3 km from the Swanson Gold Deposit and along strike of a major structural break. Visual core logging suggests that several of the completed holes intersected geological features similar to those hosting known mineralization at the Swanson Gold Deposit.

Keep reading...Show less
Gold bar on scattered US hundred-dollar bills.

First Quantum Secures US$1 Billion in Gold Stream Deal with Royal Gold

First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) has locked in a US$1.0 billion cash infusion through a gold streaming agreement with RGLD Gold AG, a wholly owned subsidiary of Royal Gold (NASDAQ:RGLD).

The Vancouver-based firm announced on Tuesday (August 5) that the streaming agreement is tied to its Zambian operations, covering future gold deliveries linked to copper output at its Kansanshi mine.

Keep reading...Show less
Kairos Minerals

Drilling discovers new ‘Monster’ gold zone near Main Hill at Mt York, WA

New results extend mineralisation from undrilled Main Hill area; additional drilling required to further define new zone

Kairos Minerals Ltd (ASX:KAI) (“KAI” or the “Company”) is pleased to announce results from a further 19 diamond holes, including a new, wide zone of gold mineralisation intercepted at its Mt York Gold Project in WA’s Pilbara, where current resources at the Main Trend sit at 1.4Moz Au. Results from Gossan Hill (7 holes), Breccia Hill (3 holes) and Main Hill (9 holes) (Table 1), are shown on the Leapfrog oblique-section (Figure 1) drill plan (Figure 2), long-section (Figure 3) and cross-section (Figure 4).
Keep reading...Show less

Latest Press Releases

Related News

×