Taiga Reports Gold Mineralization at the Leland Project, Saskatchewan

CRANBROOK, BC / ACCESSWIRE / January 7, 2020 / Taiga Gold Corp (CSE:TGC) (“Taiga”) is pleased to report that encouraging mineralization was uncovered as a result of a three-phase geological and geophysical program completed on its 100%-owned Leland project located 100km northeast of La Ronge, Saskatchewan and 23km SW of SSR Mining’s Seabee Gold Operation.

2019 Exploration Highlights

  • Gold mineralization grading up to 5.4 g/t Au over 0.65 m within 2.1 g/t Au over 3.22 m (channel sample) from the Irving trench along the Simon-Irving Trend.
  • Discovery of 5 new gold-mineralized occurrences along the Simon-Irving trend grading between 113 ppb Au and 3.5g/t Au.
  • Historical grab samples reported grading up to 60 g/t Au and 53 g/t Au.
  • 86 line-km geophysical survey completed, outlining an important geologic contact along the Simon-Irving trend.
  • Soil geochemical results proximal to the Leland showing (SMDI-2390) support samples collected in 2015 and delineate a new zone of anomalous soils to the west of the Leland Showing and northeast of the Simon Showing (SMDI-2388) that are targets for future follow up work.

See Taiga property location map here

The 11,150ha Leland property is owned 100% by Taiga and carries no underlying royalties or encumbrances. Claims comprising the property were acquired between 2014 and 2018 and were transferred from parent company Eagle Plains Resources Ltd. (TSX-V:EPL) to Taiga as part of a plan of arrangement completed in early 2018. The claims are contiguous with Taiga’s Fisher property which is currently under option to SSR Mining Inc. Property highlights include numerous high-grade gold occurrences including up to 60 g/t (1.75 oz/T) gold associated with structurally-hosted quartz veins. The $265,000 2019 field program consisted of over 175 person-days and included an 86 line-km airborne geophysical survey, geological mapping and sampling, trenching, prospecting and detailed soil geochemical sampling.

Work was completed in three phases during the summer and fall of 2019 Services Ltd. under the direct supervision of Paul Stewart. The initial phase commenced in July and consisted of prospecting, soil sampling and regional scale mapping of two areas on the eastern portion of the tenure and the Simon-Irving Trend on the western portion of the tenure. Phase 2 work was carried out in September 2019 and focused on more detailed exploration work along the Simon-Irving trend including more soil sampling, prospecting, and mapping. Three zones were subjected to stripping and detailed mapping with channel samples collected from two of the zones (Michelle and Irving trenches). Phase 3 work consisted of an 86 line-km drone-supported airborne magnetic survey over the prospective Simon-Irving trend completed by Zen Geomap Inc. during November. The magnetic data results will be used in tandem with the highly prospective historical and recent assay data to assist in the definition of future drill targets.

See Leland property highlight map here

Property Geology and History

The Leland Property hosts several zones of orogenic gold mineralization with good exploration potential. Historic work in the western part of the Leland Property has identified numerous gold-bearing quartz veins with notable grades including the Leland Lake South Zone, which hosts grab samples ranging from trace values to up to 32.8 g/t Au and 8.6 g/t Au; and the Simon/Irving Lake Zone, which returned up to 60 g/t Au and 53 g/t Au from within a 2km x 600m shear zone centred along an open- ended contact between mafic volcanic and intrusive rocks. Near the new eastern limit of the property, known vein-hosted mineralization at the Sun Zone returned values ranging from trace quantities to up to 8 g/t Au. Gold-bearing shear zones at this location are proximal to mafic volcanic and intrusive rock units that also contain VMS-style base metal mineralization. None of the showing areas have been drill-tested but trenching indicates they contain structurally-controlled mineralization and are open along strike. The presence of amphibolite-grade meta-volcanic and associated meta-intrusive rocks hosting well-defined shear zones are considered positive indicators for the presence of orogenic gold deposits. The mineralization, host rocks and structural framework are similar to gold deposits in the region such as the nearby Seabee Gold Operation. Additionally, this prospective geology is considered to be underexplored for 30 km of strike length within the current Leland property boundaries. Management cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Leland property.

Exploration services were provided by TerraLogic Exploration Inc. of Cranbrook, BC under the overall supervision of Jarrod Brown, P.Geo., hereby identified as the “Qualified Person” under N.I. 43-101. Mr. Brown has reviewed and approved the technical contents of this news release.

About Taiga Gold Corp

Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. and owns 5 projects targeting gold in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga’s flagship “Fisher” property is currently being explored by SSR Mining under option from Taiga.

Taiga’s objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors

“Tim J. Termuende”
President and CEO

For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at http://taigagold.com

Cautionary Note Regarding Forward-Looking Statements

Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Taiga Gold Corp.

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