Tim Termuende, P.Geo., President and CEO, Taiga Gold Corp. (CSE:TGC)
CRANBROOK, BC / ACCESSWIRE / January 14, 2021 / The year 2021 is off to an exceptional start for Taiga Gold with the receipt of a $3,000,000 cash payment from SSR Mining and the formation of a formal joint-venture ("JV") at our flagship Fisher project. The exploration work that SSR Mining has completed to date at the Fisher exceeds $12m and has resulted in the discovery through drilling of high-grade gold mineralization in four separate areas along the very important Santoy shear structure.
This is the same structure that hosts the Santoy Gold Mine located approx. 1.5km north of the Fisher property boundary. Further to this, we anticipate news in the next few weeks announcing the results of a 3570m drill program carried out in Q4 2020 at Fisher in the Mac North discovery area.
A big year of milestones reached at Taiga's Fisher Property:
Discovery of high-grade gold in three separate zones during Q1 2020 drilling
Partner SSR Mining exercising both the first and second options to earn-in
Formation of the Fisher Joint-Venture with SSR Mining
Going forward, we expect a significant winter drill campaign to be carried out at the Fisher project intended to:
Follow-up the discoveries made in 2019/2020
Develop gold resources in these areas
Test other high-priority targets
Other initiatives include:
SKRR Exploration, our partner at the adjacent Leland project, is planning a drill program in early 2021 to test gold targets that have been derived through previous ground-based programs
Taiga Gold plans to conduct a drill program in early 2021 on its 100% owned Orchid Property located on the Tabbernor fault trend south of the Fisher
Fisher Project JV with SSR Mining
On January 5th, SSR Mining elected to exercise the second earn-in option at the Fisher property by paying Taiga $3,000,000 and bringing their total interest to 80%. The Fisher JV is now formalized and the companies will continue exploration with funding provided on a proportionate basis. The earn-in of this second option and the exploration expenditures made prior to earning the first option ($12m vs the required $4m) underscore SSR Mining's belief in the potential of the Fisher property. Another strong indicator of this is SSR Mining's Dec 2020 presentation for the Scotiabank Conference citing the Fisher as a key contributor to its long-term growth.
The unwavering focus and structured approach of SSR at Fisher has resulted in an impressive trajectory of gold discovery. Off to a modest start, the initial drill programs (2016-2018) identified the continuation of the Santoy Shear onto the Fisher property and confirmed that this structure contained the necessary characteristics for potential gold deposition. Following this, surface-based exploration programs identified a high-grade gold trend along this structure over 13km in the northern part of the property. Drilling in 2019 resulted in the discovery of high-grade gold the Mac Zone. Drilling in 2020 2020 confirmed high-grade discoveries at the Mac North, Yin and Abel Lake zones.
A drill program conducted in late 2020 was designed to follow-up the discovery made at the Mac North Zone, with results pending.
The focus of our efforts continues to be the discovery and delineation of gold resources at Fisher and on Taiga's other projects through systematic exploration.
Momentum continues to build for Taiga in Saskatchewan!
Share Price and Opportunity
In our view, the district-scale Fisher project has the potential to host one or more Santoy-type deposits and we couldn't wish for a better exploration partner than SSR, which has a consistent track record of growing resources through drilling.
Taiga Gold was formed for the distinct purpose of enhancing shareholder value; with 4 separate discoveries made to date and the formation of the Fisher JV with SSR Mining, we are very encouraged that we are on track with this. We believe Taiga's share price remains undervalued considering reaching these very encouraging milestones, having follow-up discovery drill results pending and aggressive exploration plans for the near-term. To build awareness of these catalysts and help the market realize Taiga's value we continue to undertake and expand our marketing initiatives.
We appreciate your continued support in this valuation endeavor and remind you once again that our long-term strategy is to maximize shareholder value through systematic, successful exploration and to provide value and liquidity through potential M and A activity.
Should you have any questions or comments regarding Taiga Gold Corp., please do not hesitate to contact myself or Mike Labach at our offices at 1 800 HUNT ORE (486 8673).
Thank you for your interest in Taiga Gold Corp. We look forward to 2021 being a banner year for you and Taiga Gold. Take care and stay safe.
Tim Termuende, P.Geo.
President and CEO
SOURCE: Taiga Gold Corp.
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