Canadian Gold Corp. Tartan South Zone First Hole Intersects 6.1 gpt Gold over 6.0m Significantly Expands Zone by 170m Vertically

Canadian Gold Corp. Tartan South Zone First Hole Intersects 6.1 gpt Gold over 6.0m Significantly Expands Zone by 170m Vertically

New Potential Hanging Wall Zone Discovered with 8.4 gpt Gold over 2.0m

Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that the first hole designed to significantly expand the South Zone to the southeast by 170 metres vertically at the Tartan Mine near Flin Flon, Manitoba, was a success (Fig. 1 & 3). The hole intersected 6.1 gpt gold over 6.0 metres and discovered what the Company's geological team believes could be a new Hanging Wall Zone, which returned 8.4 gpt gold over 2.0 metres, further to the south. The result from the Hanging Wall Zone aligns with a hole drilled in 2022, which returned 29.1 gpt gold over 5.85 metres, making this an exciting new discovery.

"These remarkable results represent an exciting new chapter in our ongoing exploration of the orogenic gold system at the Tartan project. The South Zone is parallel to and right beside the Main Zone, which could be developed from the same underground workings at depth. Equally exciting is that higher up in hole TLSZ25-32, it appears that we have hit an additional high-grade gold parallel zone. The significant downward expansion of the South Zone gold mineralization at both a high grade and mineable width indicates what may be a significant new plunge line for the South Zone. The South Zone remains open along strike in both directions and at depth. The added prospect of a potential new Hanging Wall Zone is truly the icing on the cake for our geological team.

We are delighted to be able to focus on both the Main Zone and South Zone (as well as further drill into a potential third parallel zone discovery) drilling to have a dual approach of exploration and rapidly advance toward our goal of bringing the Tartan Mine back into production." - Michael Swistun, CFA, President & CEO

Table 1. Drilling Assay Highlights

Drill Hole From
(metres)
To
(metres)
Interval1
(metres)
Depth Below Surface
(metres)
Gold Grade
(gpt)
Zone2
TLSZ25-32 222.00 227.00 5.00 190 4.0 HWZ
Including 222.00 224.00 2.00
8.4
Including 223.00 224.00 1.00
11.3
And 477.00 496.00 19.00 410 3.2 SZ
Including 482.00 488.00 6.00
6.1
Including 484.00 486.00 2.00
10.4

 

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

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

Drill Hole Azimuth
(Degrees)
Dip
(Degrees)
Length
(metres)
Easting (UTM) Northing (UTM)
TLSZ25-32 360 -61 548 324882 6081867

 

Why Is This Drill Hole Important?

  1. This is the first hole drilled in this target during the 2025 drilling campaign. It nearly doubles the vertical extent of the South Zone by 61%, from 250 to 410 metres below surface (Fig. 1 & 3). It also has the potential to be the second drill hole in a third parallel zone.

  2. Demonstrates that the South Zone has similar depth potential as the Main Zone, which extends to 1,030 metres below surface and remains open for expansion.

  3. Due to its proximity to the Main Zone and current underground infrastructure (100 metres apart) (Fig. 3), there is excellent potential to increase the total ounces per vertical metre, allowing the Company to review potential higher gold production scenarios at lower costs.

  4. New potential Hanging Wall Zone is emerging. Limited drilling in the area appears to have led to a discovery with its first intersection. In 2022, a hole returned 29.1 gpt gold over 5.85 metres, which appears to align with the intersection released today that assayed 8.4 gpt gold over 2.0 metres. The majority of previous drilling at this location was too far north to intersect this new potential Hanging Wall Zone (Fig. 3).

  5. The South Zone has seen limited drilling during the Company's exploration Phases 1-4. This result opens many new target areas and provides the Company with opportunities to further expand the resource at Tartan before updating its mineral resource estimate. This is in addition to the many high-grade opportunities that exist at the Main Zone that have been highlighted in recent news releases.

For Further Information, Please Contact:

Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com

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 ALS Labs in Thunder Bay, Ontario. The samples reported were crushed in their entirety to 80% passing 2 mm, with one 500 g subsample analysed 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). The Company is 34% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.

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/3276/243043_287b98d3044bb886_001.jpg

Figure 1. Tartan Mine - South Zone Longitudinal Section illustrating the location of hole TLSZ25-32.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/243043_287b98d3044bb886_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3276/243043_287b98d3044bb886_002.jpg

Figure 2. Tartan Mine - Intersection of high-grade South Zone mineralization in hole TLMZ25-32.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/243043_287b98d3044bb886_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3276/243043_287b98d3044bb886_003.jpg

Figure 3. Tartan Mine - Main and South Zone 3D model showing the location underground infrastructure and drill hole TLSZ25-32.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/243043_287b98d3044bb886_003full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243043

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