Taurus Gold Announces 2023 Exploration Program and Expands Charlotte Gold-Silver-Zinc-Lead Property, Yukon, Canada
Edmonton, June 13, 2023 - Taurus Gold Corp. (CSE: TAUR) (OTCQB: TARGF) ("Taurus" or the "Company") is pleased to announce that it has confirmed the summer exploration plan for the Charlotte Property; and has acquired, through staking, an additional mineral claim (ED F Claim), strategically located on the northwest corner of the Company's existing gold-silver-zinc-lead Flex Zone. The additional claim is strategic in that it will allow the Company to further expand its exploration on the Charlotte property which is host to several known mineralized zones of interest, including the Huestis, Webber, and Flex precious metal vein systems in the southern part of the property and the under-explored porphyry copper mineralization in the northwest.
Summer 2023 Work Program:
After a comprehensive review of the extensive historical database on its 23 km2 Charlotte property, Management has identified several promising and under-explored areas of interest, which include the Elisa Creek Extension, Discovery Creek, and the GRW zones.
The comprehensive 30-day program will include 42 line-km of targeted close spaced magnetometer and VLF ground geophysical surveys, soil sample geochemistry, targeted mapping, and prospecting on the Elisa Creek, Discovery Creek and GRW zones. In addition, the Company will undertake reconnaissance mapping and prospecting and sampling on the newly staked ED F claim, located adjacent to the Company's Flex Zone on its north boundary.
Summer Exploration Objectives:
- Discovery of new epithermal vein sets in under-explored areas of the Charlotte property
- Determine the linkage between epithermal veins and intrusive hosts in the north part of the property.
- Investigate surface expression of suspected structural controls on soil anomalism.
"We are confident that this program will significantly enhance our understanding of the Property's geological potential and help us prioritize target areas for future drilling campaigns," says Trevor Harding, CEO. "The Company recognizes the importance of employing modern exploration techniques to minimize environmental impact while maximizing the efficiency and accuracy of mineral targeting."
Eliza Creek:
Located just east of Rockhaven's Klaza property, the Eliza Creek area has substantiated work history including surface trenching and historical drilling in search of porphyry Cu-Mo mineralization. The area may host mineralized epithermal veins in a similar setting to the Klaza veins located to the west of the property boundary.
Discovery Creek:
Located east of Rockhaven's Rusk Zone, the area is underlain by massive andesite to dacite volcanic flows of the Lower Cretaceous Mount Nansen Suite in contact with granodiorite and related intrusive rocks of the co-eval Early Cretaceous Whitehorse Suite. Anomalous soil geochemistry, trenching and historical drilling north of the property boundary in the Discovery Creek area has revealed a NW-SE trending epithermal vein set which may trend southward on to the Charlotte Property. The geology is also similar to the setting at Rockhaven's Rusk zone located approximately 3 km northwest.
GRW:
The GRW Zone is approximately 2 km east of the Eliza Creek area and bears a strong similarity to the geological setting and represents the same exploration target. Historical soil sampling and trenching has established anomalous and altered bedrock in an area underlain by porphyritic intrusive of the Prospector Mountain suite intruded by granodiorite and related intrusive rocks of the Early Cretaceous Whitehorse Suite. The contact zone between the two units may host previously unrecognised mineralized epithermal veins.
Figure 1
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ED F Claim:
The newly acquired quartz claim is located directly north of the Flex Zone and is underlain by foliated biotite-hornblende granodiorite of the Early Jurassic Minto Group; the host rock to the past-producing Brown-McDade deposit to the south. The claim sits on the strike extension of the Flex Zone, approximately 185 metres from the northernmost Flex drill hole. The claim also sits within a prominent magnetic low, the same structural setting as the Flex Zone.
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.
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.
Trevor Harding
President and Chief Executive Officer
Taurus Gold Corp. Phone: 587-608-5035 #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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