(Kitco News) - TDG Gold (TSXV: TDG) today announced an initial NI 43-101 mineral resource estimate ("MRE") following the conclusion of its 2021 – Phase 1 drill program at its former producing Shasta gold-silver mine in B.C., Canada.
According to the company's statement, an initial MRE for its former producing Shasta mine amounted to 709,200 oz of gold equivalent in inferred resource at 1.00 g/t AuEq grade (0.79 g/t Au, 26.7 g/t Ag).
The company said that this mineral resource is amenable to open pit mining with a strip ratio of the total resource pit of 4.7 (waste:mineralized material) and significant mineralization near surface.
CEO Fletcher Morgan commented, "This initial mineral resource estimate represents a solid start by our team towards redefining Shasta as a bulk tonnage gold-silver project.
"We've managed to define an initial 709,200 gold-equivalent Inferred ounces for just over 8,000 metres drilled in our first phase of drilling and which tested around 40% of the mineralized footprint included within our published exploration target range area at Shasta. The estimate excludes the higher-grade gold-silver mineralization we drilled to the south in the Cayley-Rainier Zone, which was the only step-out we tested in 2021."
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He added that the company sees a direct roadmap to resource improvement and growth at Shasta in 2022 and which the company is fully funded to execute.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement.
TDG's flagship projects are the former producing gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling.
