Thesis Gold Announces Completion of 2024 Field Program: On Track to Commence PFS and EIA in Early 2025
Thesis Gold has completed its 2024 exploration season at the Lawyers-Ranch Project in northern British Columbia. The program included 9,510 meters of drilling, split between engineering, environmental studies, resource upgrading, and exploration. Key highlights:
1. Engineering work: Geotechnical drilling and test pits at Ranch for mine design and waste rock storage.
2. Environmental studies: Completion of two-year baseline data collection at Lawyers and second year at Ranch.
3. Field geology: Identification of prospective units and mineralization in newly staked claims.
This work positions Thesis Gold to commence a Pre-Feasibility Study (PFS) in early 2025. The company aims to minimize future spending and dilution, having completed major capital-intensive elements. Initial drill results are expected soon, with ongoing releases in the coming months.
Thesis Gold ha concluso la sua stagione di esplorazione 2024 presso il Progetto Lawyers-Ranch nel nord della Columbia Britannica. Il programma ha incluso 9.510 metri di perforazione, suddivisi tra lavori ingegneristici, studi ambientali, upgrading delle risorse ed esplorazione. Punti salienti:
1. Lavoro ingegneristico: Perforazioni geotecniche e scavi di prova al Ranch per la progettazione della miniera e lo stoccaggio delle rocce di scarto.
2. Studi ambientali: Completamento della raccolta di dati di base biennale a Lawyers e secondo anno al Ranch.
3. Geologia di campo: Identificazione di unità prospettiche e mineralizzazione nelle nuove concessioni registrate.
Questo lavoro pone Thesis Gold in posizione di iniziare uno Studio di Pre-Fattibilità (PFS) all'inizio del 2025. L'azienda mira a minimizzare le spese future e la diluizione, avendo completato gli elementi capital-intensive principali. I risultati iniziali delle perforazioni sono attesi a breve, con comunicazioni in corso nei prossimi mesi.
Thesis Gold ha completado su temporada de exploración 2024 en el Proyecto Lawyers-Ranch en el norte de Columbia Británica. El programa incluyó 9,510 metros de perforación, divididos entre ingeniería, estudios ambientales, mejora de recursos y exploración. Aspectos destacados:
1. Trabajo de ingeniería: Perforaciones geotécnicas y pozos de prueba en Ranch para el diseño de la mina y almacenamiento de roca estéril.
2. Estudios ambientales: Finalización de la recolección de datos de línea de base de dos años en Lawyers y segundo año en Ranch.
3. Geología de campo: Identificación de unidades prospectivas y mineralización en reclamaciones recién registradas.
Este trabajo posiciona a Thesis Gold para comenzar un Estudio de Pre-Factibilidad (PFS) a principios de 2025. La empresa busca minimizar los gastos futuros y la dilución, habiendo completado elementos de gran intensidad de capital. Se esperan pronto los resultados iniciales de perforación, con comunicados en curso en los próximos meses.
Thesis Gold는 브리티시컬럼비아 북부에 있는 로이어스-랜치 프로젝트에서 2024년 탐사 시즌을 마쳤습니다. 이 프로그램은 9,510미터의 시추로 구성되어 있으며, 엔지니어링, 환경 연구, 자원 개선 및 탐사로 나누어졌습니다. 주요 하이라이트:
1. 엔지니어링 작업: 광산 설계 및 폐암석 저장을 위한 랜치의 지반 공학 시추 및 시험 구덩이.
2. 환경 연구: 로이어스에서의 2년 기초 데이터 수집 완료 및 랜치에서의 두 번째 해.
3. 현장 지질학: 새로 등록된 청구권들에서의 잠재적 단위 및 광물화 식별.
이 작업은 Thesis Gold가 2025년 초에 예비 타당성 조사(PFS)를 시작할 수 있는 위치에 놓이게 합니다. 회사는 주요 자본 집약적인 요소를 완료한 상태에서 향후 지출과 희석을 최소화할 계획입니다. 초기 시추 결과는 곧 발표될 예정이며, 향후 몇 달간 지속적인 결과 발표가 있을 것입니다.
Thesis Gold a terminé sa saison d'exploration 2024 sur le Projet Lawyers-Ranch dans le nord de la Colombie-Britannique. Le programme a inclus 9 510 mètres de forage, répartis entre ingénierie, études environnementales, amélioration des ressources et exploration. Points forts :
1. Travaux d'ingénierie : Forages géotechniques et fossés d'essai au Ranch pour la conception de la mine et le stockage des roches stériles.
2. Études environnementales : Achèvement de la collecte de données de référence sur deux ans à Lawyers et deuxième année au Ranch.
3. Géologie de terrain : Identification d'unités prospectives et de minéralisation dans les nouvelles revendications.
Ce travail positionne Thesis Gold pour commencer une étude de pré-faisabilité (PFS) début 2025. L'entreprise vise à minimiser les dépenses futures et la dilution, ayant achevé les éléments majeurs à forte intensité de capital. Les premiers résultats de forage sont attendus bientôt, avec des communiqués en cours dans les mois à venir.
Thesis Gold hat seine Explorationssaison 2024 im Lawyers-Ranch-Projekt im Norden von British Columbia abgeschlossen. Das Programm umfasste 9.510 Meter Bohrungen, aufgeteilt in Ingenieurwesen, Umweltstudien, Ressourcenaufwertung und Exploration. Wichtige Highlights:
1. Ingenieurarbeiten: Geotechnische Bohrungen und Testgruben am Ranch zur Minenplanung und Abfalllagerung.
2. Umweltstudien: Abschluss der zweijährigen Basisdatenerhebung in Lawyers und im zweiten Jahr in Ranch.
3. Feldgeologie: Identifikation von vielversprechenden Einheiten und Mineralisierungen in neu abgesteckten Ansprüchen.
Diese Arbeiten versetzen Thesis Gold in die Lage, Anfang 2025 eine Machbarkeitsstudie (PFS) zu beginnen. Das Unternehmen strebt an, zukünftige Ausgaben und Verwässerungen zu minimieren, nachdem es die kostspieligen Hauptkomponenten abgeschlossen hat. Die ersten Bohrergebnisse werden bald erwartet, und in den kommenden Monaten werden weiterhin Informationen veröffentlicht.
- Completion of 9,510 meters of drilling for engineering, environmental, and exploration purposes
- Advancement of engineering studies, including geotechnical drilling and test pits
- Completion of two-year environmental baseline data collection at Lawyers
- Identification of prospective geological units and mineralization in newly staked claims
- Positioning for commencement of Pre-Feasibility Study (PFS) in early 2025
- Minimized future spending and dilution due to completion of major capital-intensive elements
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Thesis Gold Inc. (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF) ("Thesis" or the "Company") is pleased to announce the successful completion of its 2024 exploration season at its
2024 Program Highlights:
- Drilling:
- A total of 9,510 metres (m) was drilled during the 2024 field season. Metres were split between engineering and environmental baseline studies, resource upgrading and expansion, and exploration.
- 5400 m was drilled at Ranch, emphasizing geotechnical and water monitoring studies. Geology-focused drilling at Ranch followed up on targets from last year and included new exploration targets.
- 4100 m was drilled at Lawyers to upgrade existing resources and confirm mineralization in conceptual modelled stopes.
- Near-Term Catalyst: Initial drill results are expected soon and will continue to be released over the coming months.
- A total of 9,510 metres (m) was drilled during the 2024 field season. Metres were split between engineering and environmental baseline studies, resource upgrading and expansion, and exploration.
- Engineering work:
- A geotechnical drilling program at Ranch was completed to assess rock quality, providing essential data to enhance confidence in future mine design efforts.
- A test pit program was completed at Ranch to assess ground qualities at proposed waste rock storage facility sites.
- Metallurgical and geochemical samples were collected from Ranch core to:
- Continue optimizing the process flow sheet, and
- Further support studies on acid base accounting.
- Environmental studies:
- Ranch is in its second year of a two-year baseline study period. Biologists and hydrogeologists were on-site collecting data to characterize the project's aquatic, terrestrial, geochemical, and meteorological components.
- 2-year baseline data collection at Lawyers is now complete, with only final reporting outstanding.
- Field Geology:
- Field crews identified regionally prospective geological units and structural trends and confirmed the presence of visual mineralization during reconnaissance geological mapping at newly staked claims located north and east of Ranch.
Dr. Ewan Webster, President and CEO, commented "The successful completion of the 2024 exploration season marks a key milestone for Thesis Gold. This key work is in preparation for the Environmental Assessment process and positions us to swiftly transition into the PFS. With a strong PEA already in place and accelerated progress toward PFS and permitting, the Lawyers-Ranch Project stands out as a premier, advanced-stage asset with significant near-term production potential and considerable exploration upside."
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*AuEq - Gold Equivalent calculated at 80:1 silver to gold.
**Final reports outstanding.
Setting the Stage for Thesis's Next Steps
In 2024, Thesis achieved significant progress de-risking the Lawyers-Ranch project through:
- Announcing a Measured and Indicated Mineral Resource Estimate of 4.0 Moz and an Inferred Mineral Resource of 727 Koz gold equivalent (see May 1st news release),
- Delivering a positive Preliminary Economic Assessment (PEA) with compelling project economics (see Sept. 5th news release).
This year's comprehensive field program filled key geological, engineering, and environmental data gaps, setting the stage for the Company's next major milestone: the initiation of a Pre-Feasibility Study (PFS) in early 2025. Importantly, with major capital-intensive elements like baseline studies, infill drilling, and on-site engineering work are now largely complete, Thesis is well-positioned to minimize spending and dilution going forward, preserving value for shareholders.
Engineering studies at Ranch this summer included geotechnical drilling within resource areas, test pits for a proposed waste rock storage facility, and sampling to support comminution test work on mineralized material along with geochemical characterization of mineralized material and waste. This work complements the Feasibility-level engineering already completed at Lawyers and will further support a combined mining scenario for both projects.
The minimum two-year environmental baseline data collection at Ranch is nearing completion. Lawyers is at the final stages of monitoring and reporting for environmental baseline data and work is materially complete.
Upon completion, the entire Lawyers-Ranch project area will have the information available to establish an environmental baseline that will help guide project design plans, compliance, and long-term sustainability plans. These factors play an important role in the timeline for completion and delivery of the PFS and Environmental & Impact Assessment.
The successful 2024 drill program included ~9,500 metres focused on engineering and environmental baseline studies, resource upgrading and expansion, and exploration. Initial results are expected soon, and the Company looks forward to reporting on further developments as the Project progresses toward a construction decision.
On behalf of the Board of Directors
Thesis Gold Inc.
"Ewan Webster"
Ewan Webster Ph.D., P.Geo.
President, CEO, and Director
About Thesis Gold Inc.
Thesis Gold Inc. is a resource development company focused on unlocking the potential of its
1Please refer to the Company's Preliminary Economic Assessment entitled, "Preliminary Economic Assessment, Lawyers Gold-Silver Project" with an effective date of September 9, 2022 filed under the Company's profile on SEDAR+ at www.sedarplus.ca.
2Details of the mineral resource estimate will be provided in a technical report with an expected effective date of May 1, 2024, prepared in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects ("NI 43-101").
The scientific and technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person (QP) as defined by NI 43-101.
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President Corporate Development
Email: daveb@thesisgold.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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.sedarplus.ca. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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FAQ
What was the total drilling completed by Thesis Gold (THSGF) in the 2024 exploration season?
When does Thesis Gold (THSGF) expect to commence its Pre-Feasibility Study (PFS)?
What environmental studies were completed at the Lawyers-Ranch Project by Thesis Gold (THSGF)?