Highlights:
Numerous new multi-kilometre-scale targets defined by:
Linear magnetic features imply the presence of numerous structural trends.
Multi-element geochemical anomalies are coincident with major structural trends.
These anomalies indicate the potential for structures that may have acted as conduits for gold-bearing hydrothermal fluids.
The anomalous soil geochemical pathfinder elements are typically associated with high-sulphidation epithermal and porphyry style alteration, typical of that associated with gold mineralization elsewhere on the property.
During 2022, Thesis collected and analyzed a total of 4,259 soil samples, covering an area of approximately 20.5 km2. Interpretation of the soil data has extended and defined several NE, N-S, and NW oriented trends that are coincident with structural corridors interpreted from ground magnetics (Figures 1 and 2). Geochemical anomalies in pathfinder elements such as silver, molybdenum, tungsten, arsenic, antimony, lead, and zinc are typical of epithermal- and porphyry-style mineralization and are commonly associated with proven precious metal mineralization on the Ranch property and elsewhere within the Golden Horseshoe.
South of the drill-confirmed Thesis Structural Corridor there is a significant geochemical footprint of coincident molybdenum, tungsten, antimony, and silver anomalies that spans approximately 2 km by 1.6 km. This zone also contains localized anomalies of arsenic, lead, and zinc and coincides with mapped vuggy silica alteration that is known to be associated with precious metal mineralization at Ranch (Figure 2). Further, an approximately 2.6 km by 1 km strongly molybdenum-enriched footprint is present between the Ridge and Steve zones that also contains coincident tungsten, antimony, and silver anomalies (Figure 2). This geochemical anomaly is positioned between parallel N-S structures and extends north and south of their intersection with a NW-trending structure. Within other parts of the Ranch property, this type of structural environment has proven favorable for gold mineralization.
Many anomalies with these coincident geochemical and geophysical characteristics were proven as vectors to gold, copper, and silver mineralization by drilling in 2022, indicating the potential for future discoveries (Figure 2).
On behalf of the Board of Directors
'Ewan Webster'
President, CEO and Director
About
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This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', 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 statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Contact:
Director
Email: nicks@thesisgold.com
Vice President
Telephone; 403-410-7907
Email: dave@howardgroupinc.com
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