Toronto, Ontario – December 20, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Big Gold Inc. (CSE: BG) (FSE: H7L) (the “Company” or “Big Gold”) is pleased to announce the completion of infill sampling as part of Phase 2 Exploration of the Tabor Property (“Tabor” or the “Project”), situated within the Shebandowan Greenstone Belt in the northwest of Thunder Bay, Ontario.
The infill sampling program was completed at the MNDM Thunder Bay Core Library, which houses approximately 100,000 m of historic core from the Thunder Bay Mining District. The core library provided the Company access to historic core drilled in 1983 in the East Divide area, which yielded multi-element potential in multiple drill holes, such as RS-83-01, which intersected 0.76 m of 24.30 g/t Au, 65.10 g/t Ag, 0.82% Cu, and 3.68% Zn.
Details of drill holes sampled are available in Table 1 and locations are available in Figure 1. Samples are currently being assayed and the Company expects results in early Q1, 2024.
The infill sampling program provided the following at a low cost:
- Review historic core and confirm lithology, mineralization, alteration, veining, and structures previously logged
- Obtain photos of the historic core for future reference
- Infill samples (half-core) in previously unsampled core (60 samples)
- Resampled previously sampled core for confirmation of zones (26 samples)
- Data can be used to reduce exploration and drill costs in 2024
“We express our gratitude to the Thunder Bay Core Library for granting us access to the invaluable historic core, enabling us to explore additional opportunities at the Tabor Project in a cost-effective manner,” said Scott Walters, CEO of Big Gold. “These four drill holes represent significant cost savings for the company, contributing to our comprehensive understanding of the geology and validation of drill targets for our upcoming program. The ongoing process of cutting and lab testing is underway, and we eagerly anticipate sharing our results with the market.”
Phase 2 Plan for Priority Targets
- Surface Exploration: Additional field visits may take place to define targets for further detailed mapping and sampling of outcrops.
- Re-logging and Sampling of Historic Core: Four historic drill holes on the Property have been sampled, results are in progress.
- IP Survey: Plans are in place to conduct IP surveys, aiding in further exploration and drill target definition.
- Drill Program: Leveraging data from the summer field program, the Company will refine drill targets and build a database to expedite exploration success.
About the Tabor Project
Tabor is adjacent to the east, along trend of the Moss Project of Goldshore Resources Inc. that hosts a current Inferred Resource of 6 million ounces gold (grading 1.02 g/t gold) including Inferred 3.35 million ounces gold at a grade of 1.84 g/t gold at the Moss Lake Gold deposit* and is located approximately 20 km to the west of the Delta Resources Delta 1 Project*.
Gold mineralization on the Project is reportedly associated with quartz veins, shearing and sulphides including pyrite, pyrrhotite, sphalerite and chalcopyrite. Geological host rocks include mafic volcanics, sericite schists, felsic porphyry units and chemical sediments. Gabbro, sericite schist and bedded sediments are also reported to outcrop on the Project. Geological and mineralization characteristics on the property are similar to those found on some of the Company’s neighbours properties including Goldshore Resources Inc.’s high-profile Moss Gold Project where 2.17 g/t Au over 50.35 metres was intercepted during their recent drilling and at the Delta Resources’ Delta-1 Gold Project where they recently reported a drill intercept of 1.29 g/t gold over 97 metres.
*The Project is at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing gold resources offers no assurance that the rock types or gold resources reported by Goldshore and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
Learn more about the Company on its website: https://biggold.ca/.
Qualified Person
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101 and has read and approved the technical information contained in this press release.
About Big Gold Inc.
Big Gold Inc. is a junior mining exploration company. Its initial focus is to conduct Exploration Programs on the Martin Kenty and Tabor projects located in Ontario. Big Gold will also continue to consider other opportunities as they arise, with the objective of acquiring and exploring early-stage base and precious metal projects.
For more information, please contact investor relations at investors@biggold.ca.
On Behalf of the Board of Directors,
Scott Walters
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results.
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