Taurus Gold Concludes 2023 Exploration Program on its Flagship Charlotte Gold-Silver-Zinc-Lead Property, Yukon, Canada
Vancouver, British Columbia--(Newsfile Corp. - September 13, 2023) - Taurus Gold Corp. (CSE: TAUR) (OTCQB: TARGF) ("Taurus" or the "Company") is pleased to announce the completion of exploration fieldwork at its Charlotte Property, located in the emergent Dawson Range gold-copper-silver-zinc mining district in Yukon, Canada. The property, which encompasses an area of 23 square kilometers, is strategically situated and is accessible via road from the Village of Carmacks.
Mr. Frank Lagiglia, CEO of Taurus Gold Corp., stated, "We are pleased to report we have concluded the 2023 field program at the Charlotte property and have successfully completed the proposed work plan on schedule and under budget".
Charlotte Exploration Objectives:
Discovery of new epithermal vein sets in under-explored areas of the Charlotte property
Determine the linkage between epithermal veins and the late Cretaceous intrusive centre in the north part of the property.
Investigate surface expression of suspected structural controls on soil anomalism.
The main target model was epithermal mineralization similar to the Flex zone, and which commonly occurs in peripheral areas to porphyry systems, although all mineralized settings were considered.
The two-phase work program was conducted over a 30-day period and comprised a 14-day program of detailed geological mapping, prospecting and rock sampling with particular focus on the under-explored central-northern part of the property. This was followed by an 18-day phase of grid soil geochemical sampling across four grids: the Discovery, Eliza West, GRW and Ed F grids. A ground magnetometer - VLF survey was also completed across the four grids. The program was conducted from the Charlotte exploration camp adjacent to the Flex Zone.
The high-priority targets were selected after analysis of an extensive historical dataset within the underexplored regions of the Charlotte property. The Discovery, Eliza West and GRW grids were designed to determine the presence of soil geochemical signatures representing epithermal mineralization related to mineralized porphyry systems. The Ed F grid was designed to complete detailed soil geochemical surveying across the Ed F claim, staked and incorporated into the Charlotte property in February, 2023. Geological mapping and rock sampling were designed to confirm that the property covers portions of a porphyry-style mineralized system covering the highly prospective Mt. Nansen area. Mapping initially focused on the four gridded areas but was expanded to cover the entire property.
Rock sampling comprised mainly grab and composite grab sampling along rubble-crop exposures, roadcuts and trenches. A total of 79 samples, excluding quality control (QC) samples, were taken.
Grid soil geochemical sampling, targeting the "B" soil horizon, was completed across the four grids, utilizing a 50-metre line spacing and 20-metre station spacing. Soil samples were obtained using hand augers or hand trowels. The total number of soil samples taken, excluding duplicates and QC samples, was 1,693. Sampling was done on a line-by-line basis, with unsampled locations due to permafrost or significantly disturbed sites from historical trenching.
All samples were shipped to MSA Labs of Langley, B.C. for which results are pending.
Figure 1
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About the Charlotte Property
The road-accessible Charlotte property is located in the highly prospective Dawson Range portion of the Tintina Gold Belt, and 60 km west of Carmacks, Yukon Territory, Canada. The region is characterized by gold-silver-zinc-lead veins and breccia, as well as copper-gold porphyry mineralization. The Charlotte property consists of 140 full or fractional quartz mineral claims and mineral leases that cover an area totalling 2,357.1 hectares (approximately 23 km2). All but two of the mineral claims are contiguous. The Charlotte property is host to several mineralized zones of interest, including the Huestis, Webber, and Flex precious metal vein systems in the southern part of the property and under-explored porphyry copper mineralization in the northwest. Taurus Gold Corp. has a 51% ownership and an option to earn 100% interest in the Charlotte property. The Charlotte property is located in the traditional territory of the Little Salmon Carmacks First Nation.
Other active mineral projects in the Dawson Range area include Rockhaven Resources' Klaza Project, Triumph Gold's Freegold project and Granite Creek Copper's Carmacks project. The Yukon Resource Gateway Program is supporting the building of new roads and facilitating improved access to several mining developments within the Dawson Range area, including Western Copper and Gold's Casino project.
Flex Zone - Charlotte Property
The Flex Zone on the Charlotte property is located on an all-season access road. Exposed mineralization on surface was completely stripped during the 1990s and reveals a mineralized zone approximately 80 m wide by 350 metres long. The Flex Zone is delineated over a northwest-trending strike length of 550 m and is defined by a network of stacked epithermal gold-silver-zinc-lead quartz veins, which range from 5 cm to 1.1 m in apparent thickness, within precious metal enriched wallrock. The strongest mineralization occurs where northwest trending Flex Zone veins are offset by east to northeast trending faults. These highly mineralized areas tend to repeat at regular intervals and retain their grade, tenor and widths at depth. Mineralization consists of varying amounts of pyrite, arsenopyrite, sphalerite, galena, chalcopyrite, stibnite, boulangerite and sulphosalts, including pyrargyrite. Wallrock silicification at the Flex vein system extends precious metal grade widths up to 7 m.
Stock Option Grant
The Company announces the grant of incentive stock options (the "Options") to Nicosia Capital Corp. (the "Consultant"). Frank Lagiglia is the Principal ("Principal") and sole owner and director of the Consultant. As announced August 2, 2023, Mr. Lagiglia, as Principal of the Consultant, was appointed effective September 1, 2023 as the Company's new Chief Executive Officer and Director.
Effective September 1, 2023, the Consultant was granted Options to acquire an aggregate of 750,000 common shares in the capital of the Company at an exercise price of $0.20 per common share. All Options were granted pursuant to the Company's 10% rolling stock option plan (the "Plan") and are subject to the terms of the Plan, the applicable grant agreement and the requirements and acceptance of the Canadian Securities Exchange.
Vested Options are exercisable any time until 5:00 p.m. (Mountain Time) on September 1, 2028. The Options vest in equal 125,000 amounts every six months.
The technical information in this news release has been approved by Ken MacDonald, P. Geo. an independent "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Frank Lagiglia
President and Chief Executive Officer
info@taurusgold.ca
Taurus Gold Corp. Phone: 604-512-0972 #239 9768-170th Street, Edmonton, AB T5T 5L4
Forward-looking Information:
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein are forward-looking, other than statements of historical fact. Generally, the forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", or "will continue", 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 information and forward-looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Taurus Gold to be materially different from those expressed or implied by such forward-looking information or forward-looking statements. Although Taurus Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The forward-looking statements and forward-looking information are made as of the date hereof and Taurus Gold disclaims, except as required by applicable securities laws, any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
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