Cusac Gold Mines (CQC – T, CUSIF – O) got a boost on the market after announcing wide intersects of low grade gold at its Taurus deposit in B.C.
In Toronto the Vancouver-based company was up 8% to 20 on 79,000 shares traded on a day when gold lost a dollar, coming down to US$668.
The company says that on top of confirming near surface low-grade gold, the recent assays also reveal higher grade zones.
Highlights include:
- Hole 07TC-03 — 1.15 grams per tonne gold over 87.2 meters, including 2.14 grams over 30.3 meters.
- Hole 07TC-04 –1.81 grams over 66.8 meters, including, 15.2 meters grading 6.39 grams.
- Hole 07TC-07 — 0.93 grams over 116.5 meters, including 30.6 meters grading 2.65 grams.
The Taurus Deposit located near Cassiar in northern B.C. — has a 43-101 compliant inferred resource of 1.04 million ounces of gold.
Cusac is completing a 20 hole infill, step-out, and metallurgical diamond drill program designed to increase the overall tonnage and grade of the deposit, improve confidence in the resource calculation, and obtain material for detailed metallurgical testing.
The company expects to have more results in the coming weeks.
Mineralization is hosted in intensely altered volcanics with abundant quartz veins and stringers, some containing visible gold.
The company is also looking at several kilometers of previously unsampled drill core stored on site to test potential low grade mineralization that was overlooked in past drilling.
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