Drilling Underway at Taiga's 100%-owned Orchid Gold Project, Saskatchewan

Rhea-AI Summary

Taiga Gold Corp has commenced drilling at its 100%-owned Orchid project in Saskatchewan, covering 7,900 hectares. Located near SSR Mining's Seabee Gold Operation, the project is believed to have significant gold potential with no underlying royalties. The drilling program will involve 2,000 meters across 12-14 holes. Historical mineral occurrences suggest high-grade gold, with grades up to 61.30 g/t Au. President Tim Termuende expressed optimism about targeting untested high-priority areas. The project’s oversight is managed by TerraLogic Exploration Services.

Positive

• Drilling activity underway at Orchid project could uncover significant gold deposits.
• 100% ownership of the property eliminates royalty obligations, directly benefiting shareholders.
• Historical mineral occurrences demonstrate high potential with grades reaching over 61 g/t Au.

Negative

• None.

CRANBROOK, BC / ACCESSWIRE / May 25, 2021 / Drilling activity is now underway at Taiga Gold Corp's (CSE:TGC) ("Taiga") or (the "Company") 100%-owned Orchid project located within the Trans Hudson Corridor 120km east of La Ronge, Saskatchewan and 70km south of SSR Mining's Inc.'s Seabee Gold Operation, host of the Seabee and Santoy gold deposits. The Orchid property consists of 7,900ha overlying the same structural features and within rocks similar to those currently being mined at the Santoy deposit. The property is considered to have excellent potential to host significant gold mineralization and carries no underlying royalties or encumbrances. Drilling activity is expected to consist of 2,000m in 12-14 holes.

See Taiga Project Location Map here

See Orchid Project Summary Map here

Orchid Property History

The Orchid project was staked by Eagle Plains Resources in 2014 and was subsequently transferred to Taiga as part of a plan of arrangement completed in 2018. The property has historically been explored for its gold potential since the mid-1980s and contains numerous documented high-grade mineral occurrences grading from trace values to highs of 61.30 g/t and 41.3 g/t Au (Orchid Au Zone), 19.2 g/t Au (Tim's Showing), 12.7 g/t (Eureka), 11.4g/t Au over 1.9m (Versary) and 8.5 g/t (Terra Zone) as well as significant Ag (144.5 g/t), Cu (3.9%), and Mo (2600 ppm). The property is located within the Trans Hudson Corridor, an ancient belt of rocks that contain significant mineral deposits such as the +42M ounce Homestake gold deposit in South Dakota, the Flin Flon and Snow Lake VMS districts and the nearby Seabee/Santoy Gold Complex. Ore geology at the Seabee Gold Operation consists of high-grade vein mineralization associated with volcanic and mafic intrusive rocks which have been structurally disrupted by splays of the deep-crustal Tabbernor Fault system. The Seabee Gold Operation has been in continuous production since 1991 and has produced over 1.57 million ounces of gold from the Seabee and Santoy deposits. Both the Seabee Gold Operation and the Orchid project are underlain by rocks of the Pine Lake greenstone belt. The above results were taken in part from Saskatchewan Mineral Deposit Index ("SMDI") descriptions. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work in the Orchid property area. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.

Tim Termuende, President and CEO stated recently: "we are pleased to have drilling underway at Orchid. After years of systematic exploration groundwork, we are targeting a number of high-priority areas throughout the property, many of which have never been drill-tested, yet contain high-grade gold mineralization on surface. With the property owned 100% by Taiga (with no partners or underlying royalties) any success at the drill-bit will more directly impact Taiga shareholders."

Overall project oversight has been contracted to TerraLogic Exploration Services of Cranbrook, BC under the supervision of Jarrod Brown, P.Geo. hereby designated as the Qualified Person ("QP") under NI 43-101. Drilling services have been contracted to Bryson Drilling of Archerwill, Saskatchewan

Charles C. Downie, P.Geo., a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a Director of Taiga Gold Corp., has reviewed and approved the scientific and technical disclosure in this news release.

About Taiga Gold Corp.

Taiga Gold Corp. was created in 2018 through a plan of arrangement with Eagle Plains Resources Ltd. and owns 6 projects targeting gold located within the Trans Hudson Corridor in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga's flagship Fisher property is currently being explored by the Fisher JV, which is owned 20% by Taiga. Taiga also owns a 2.5% NSR over the majority of the Fisher property area, which includes a $100,000 annual advance royalty payable to Taiga. Taiga's 100%-owned Leland, Chico and SAM properties are currently under option to partners SKRR Exploration, Aben Resources and Tactical Resources Corp (formerly DJ1 Capital), respectively. Taiga continues to advance its 100%-owned Orchid and Mari Lake projects.

Taiga's objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly prospective mining jurisdiction which was recently recognized by the Fraser Institute as one of the best places in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at http://taigagold.com

Cautionary Note Regarding Forward-Looking Statements

Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Taiga Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/648619/Drilling-Underway-at-Taigas-100-owned-Orchid-Gold-Project-Saskatchewan

FAQ

What is happening at Taiga Gold Corp's Orchid project?

Drilling activity has commenced at Taiga Gold Corp's 100%-owned Orchid project in Saskatchewan, targeting potential high-grade gold mineralization.

What is the significance of the Orchid project for Taiga Gold Corp?

The Orchid project offers 100% ownership with no underlying royalties, which allows for greater financial benefit to shareholders if drilling is successful.

What are the historical gold grades reported at the Orchid project?

The Orchid project has reported historical high-grade gold occurrences, with values reaching up to 61.30 g/t Au.

How much drilling is planned at the Orchid project?

The drilling program at the Orchid project will consist of 2,000 meters across 12-14 holes.

Who is overseeing the drilling at the Orchid project?

Drilling oversight is managed by TerraLogic Exploration Services, with supervision by a designated Qualified Person.