TDG GOLD CORP. MOBILIZES TO SITE FOR 2023 EXPLORATION SEASON, TOODOGGONE DISTRICT, B.C.
White Rock, British Columbia, June 21, 2023 – TDG Gold Corp. (TSXV: TDG) (the “Company” or “TDG”) is pleased to announce that mobilization of the TDG field team to the Baker camp has been completed and exploration activities have commenced.
The 2023 exploration program aims to: (i) confirm the historical resource1,2 on TDG’s 100 % owned Mets mining lease, (ii) unlock the potential of Greater Shasta-Newberry3 (see TDG news release Mar 20, 2023), (iii) execute a regional program across TDG’s gold-silver-copper projects to develop a pipeline of drill targets3.
Steven Kramar, TDG’s VP Exploration, commented: “TDG’s 2023 exploration program has been designed to deliver high impact, low-cost science resulting in a pipeline of prioritised drill targets across our projects including Mets, Greater Shasta-Newberry and Baker.
Our program includes a targeted review of the historical core starting with our Baker copper-gold project. Much of the historical core was only sporadically assayed and, in the case of Baker, only a very low percentage was assayed for copper despite widespread evidence of copper mineralization.
We are also looking forward to our first focused program on our Mets mining lease which includes opening the historical portal hopefully access the ~350 metres of historical underground development known to have taken place at Mets in 1991. Our aim is to rapidly evaluate the potential of this high-grade gold project that is road accessible and located only ~23 kilometres from our Baker infrastructure including TDG’s camp, mill and tailings storage facility.”
Re-sampling and Re-assaying Underway
Exploration work already underway at site involves the re-logging and re-sampling (where appropriate) of ~40,000 metres (“m”) of the estimated 65,000 m of core drilled historically1,2 across TDG’s Baker, Shasta and Mets projects. Many of these drill cores were only sporadically assayed without a full suite of element analysis. Re-logging and assaying the Shasta historical cores drilled in 2007 and 2010 has the potential to improve the existing Shasta mineral resource estimate4,5 (“MRE”; see TDG news release May 01, 2023) as these were not included in the current MRE. Only ~15% of the historical drill cores from Baker have been sampled (based on assayed drill core length/drilled metres) and reprocessing these drill cors may help vector and understand the porphyry copper-gold potential for the Baker project.
Mets High-Grade Opportunity
TDG’s 100 % owned, road accessible Mets mining lease has not had significant work since 1991. TDG published an exploration target range6 (see TDG news release Dec 21, 2022) illustrating the potential for high-grade, near surface gold. The focus will be to reopen the historical mine workings and retrieve any diamond drill core located there. These drill cores may then be re-sampled and assayed (where appropriate) to validate historical results as well as sampling and assaying previously unsampled core in order to improve the current geological understanding of Mets and the current 3D model. If warranted, drilling statistical twin holes will be undertaken in anticipation of publishing an inaugural mineral resource estimate in accordance with CIM standards, as required under NI 43-101.
Regional Exploration
In parallel, TDG aims to complete a portfolio-wide geochemical and geological assessment. The purpose of this study is to understand the district-scale potential of TDG’s projects3. The work will include collecting high quality stream sediment samples, soil samples and geological observations. TDG aims to uncover or rediscover the potential across its whole portfolio and advance each prospect3 to a drill stage decision in anticipation of a larger future drill program(s).
Qualified Persons
The technical content of this new release has been reviewed and approved by Steven Kramar, P.Geo., Vice President, Exploration for TDG and a Qualified Person, as defined under National Instrument 43-101.
1Historical Data: This news release includes historical information that has been reviewed by TDG’s qualified person (QP). TDG’s review of the historical records and information reasonably substantiate the validity of the information presented in this presentation; however, TDG cannot directly verify the accuracy of the historical data, including (but not limited to) the procedures used for sample collection and analysis. Therefore, any conclusions or interpretations borne from use of this data should be considered too speculative to suggest that additional exploration a mineral resource will be delineated. TDG encourages to exercise appropriate caution when evaluating these data and/or results. Any historical resources/reserves are considered not in accordance with CIM standards and should not be relied upon.
2Historical Drill Core Sampling & Assay Methodology: Historical core was geologically logged with lithologies identified and notable geological features recorded. Historical core was cut in half (and in rare cases sawn in half) along sample intervals (lithology and mineralization dependant) generally less than 3 m. Chemical analysis was performed dominantly for precious metal analysis (Au, and Ag), and infrequently for base metals (Pb, Zn, Cu), and rarely for major elements and trace elements. Historically, different commercial laboratories were utilized in addition to an assay lab at Baker Mine Site. These lab facilities may or may not have had accreditation and in all cases accreditation (if applicable) pre-dated current ISO standards. Over that period, a variety of digestion and assay methods were used, including atomic absorption, fire assay atomic absorption, aqua regia atomic absorption and aqua regia ICP with varying detection limits. Reference materials (if any) were inserted at the analytical level and thus were unblind to the facility processing the samples.
3Exploration Target(s)/Project(s): Exploration targets and/or Exploration zones and/or Exploration areas (and variations of) are speculative and there is no certainty that any future work or evaluation will lead to the definition of a mineral resource. These Targets are geologically speculative and may not be indicative of the presence of a mineral deposit.
4Mineral Resource Estimate (MRE): All scientific and technical information relating to the TDG’s Shasta Project pertaining to the Shasta Mineral Resource Estimate (“Shasta MRE”) contained in this news release is derived from the Technical Report dated June 14, 2023 (with an effective date of February 11, 2023) titled “The Toodoggone Portfolio and the 2023 Resource Estimate for the Shasta Deposit” (the “2023 Technical Report”) prepared by Sue Bird, MSc., P.Eng. of Moose Mountain Technical Services. The information contained herein in respect of the Shasta MRE is subject to all of the assumptions, qualifications and procedures set out in the 2023 Technical Report and reference should be made to the full text of the 2023 Technical Report, a copy of which has been filed with the securities regulators in each of the provinces of Canada (except Québec) and is available on www.sedar.com.
5Mineral Exploration and Inferred Mineral Resources: TDG is a mineral exploration focused company and the Company’s Projects are in the mineral exploration stage only. The degree of risk increases substantially where an issuer’s properties are in the mineral exploration stage as opposed to the development or operational stage. Confidence in a mineral resource estimate is insufficient to allow meaningful application of the technical and economic parameters to enable an evaluation of economic viability sufficient for public disclosure, except in certain limited circumstances set out in NI 43-101. There is no assurance that mineral resources will be converted into mineral reserves. Inferred/Indicated mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. It is reasonably expected that the majority of inferred/indicated mineral resources could be upgraded to measured/indicated mineral resources with continued exploration.
6Exploration Target Range (ETR): This presentation contains information on a Exploration Target Range for the Mets Project prepared in 2023 (the “ETR”) prepared internally by TDG and reported TDG’s news release December 21 (2022). A qualified person has not done sufficient work to classify the ETR as current mineral resources or mineral reserves under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and TDG is not treating the ETR as current mineral resources or mineral reserves. There can be no certainty, following further evaluation and/or exploration work, that the ETR can be upgraded or verified as mineral resources or mineral reserves in accordance with NI 43-101. Further, the assays values used to calculate the gold and silver content in the ETR are total gold and silver, and thus not all metal content reported may be recoverable (if any). Any ETR described herein can be considered an ‘in situ’ calculation.
About TDG Gold Corp.
TDG is a major mineral tenure holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG’s flagship projects are the former producing, high-grade gold-silver Shasta, Mets and Baker mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical1,2 drilling. The projects have been advanced through compilation of historical data1,2, new geological mapping, geochemical and geophysical surveys and, at Shasta 13,250 m of modern HQ drill testing of the known mineralization occurrences and their potential extensions. In May 2023, TDG published an updated Mineral Resource Estimate4 for Shasta (see TDG news release May 01, 2023) and which remains open at depth and along strike. In January 2023, TDG defined a larger exploration target area adjacent to Shasta (Greater Shasta-Newberry; see TDG news release January 25, 2023) with drill-ready targets where TDG aims to undertake follow-up exploration activities in 20233,5.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither 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 release.
Forward Looking StatementsThis news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “confirm”, “unlock”, “execute”, “deliver”, “result”, “hopefully”, “anticipate”, “potential”, “anticipate” “potential”, ”aims”, ”warrant”, ”improve” and variations of these words as well as other similar words or statements that certain events or conditions “could”, “may”, “would” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current and planned exploration activities; the potential for a discovery of a porphyry-Cu or other style of deposit of minerals of economic grade; whether or not the historical Mets core is stored underground and is recoverable and useful, as well as the potential to reconfirm the historical mineral resource estimate at Mets; the potential to increase the mineral resource estimate at Shasta through re-sampling and assaying historical core; the availability of key sections and holes of historical core for re-logging and sampling; results from future exploration programs including the uncovering and/or discovery of new exploration targets on TDG’s properties in the Toodoggone; that geological and/or geophysical anomalies remain open (in any direction); conclusions of future economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents, labour disputes and other risks of the mining industry; the availability of sufficient funding on terms acceptable to the company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty there