Cassidy Gold Corp. (CDY:TSX-V) is pleased to announce results from reverse circulation (RC) drilling on its 100%-owned Kouroussa Gold Project, located in Guinea, West Africa. Step-out drilling at the Junction Zone totalled 2508 metres in 24 holes.
Highlights include 2.54 g/t Au over 22.0 metres in KRC1327 and 1.19 g/t Au over 25.0 metres in KRC1335. True thicknesses are estimated to be 90-95% of reported intervals. These results show the continuity of potentially economic mineralization over greater than 1 kilometre strike length.
Junction Zone -- Southwest Extension
The 24 holes are arranged on ten fences of 2-3 holes spaced at forty metres across the southwestern trend of mineralization, adding 400 metres of strike length. Mineralization is located close to surface, hosted in fine-grained Birimian sedimentary rocks immediately above a mafic volcanic unit. Mineralization occurs in stacked lenses striking northeast southwest and dipping moderately to the southeast. An updated location map will be posted on www.cassidygold.com shortly.
Stepping to the southeast from the existing Junction resource model, KRC1312 intersected 1.07 g/t Au over 12.0 metres, consistent with previous drilling in the area. Similar results are evident on each 40-metre section (see Table 1). The best results are spread throughout the zone, including 1.59 g/t Au over 12.0 metres in KRC1315 and 1.04 g/t Au over 22.0 metres in KRC1323, 80 and 200 metres southwest of previous drilling. KRC1321 intersected 1.39 g/t Au over 17.0 metres at 280 metres and KRC1335 hit 1.18 g/t Au over 25.0 metres at 320 metres. On the last section drilled, KRC1327 intersected 2.54 g/t Au over 22.0 metres.
Table 1 Junction Zone -- Southwest Extension
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
KRC1312 |
41.0 |
53.0 |
12.0 |
1.08 |
KRC1313 |
70.0 |
72.0 |
2.0 |
1.53 |
KRC1314 |
33.0 |
40.0 |
7.0 |
0.96 |
and |
56.0 |
58.0 |
2.0 |
0.98 |
KRC1315 |
52.0 |
59.0 |
7.0 |
1.01 |
and |
64.0 |
68.0 |
4.0 |
1.08 |
and |
74.0 |
86.0 |
12.0 |
1.59 |
KRC1316 |
48.0 |
54.0 |
6.0 |
1.18 |
KRC1317 |
39.0 |
48.0 |
9.0 |
0.77 |
KRC1318 |
33.0 |
48.0 |
15.0 |
1.05 |
KRC1319 |
12.0 |
13.0 |
1.0 |
1.79 |
and |
35.0 |
37.0 |
2.0 |
0.92 |
KRC1320 |
14.0 |
28.0 |
14.0 |
0.85 |
and |
35.0 |
36.0 |
1.0 |
1.05 |
KRC1321 |
38.0 |
55.0 |
17.0 |
1.39 |
KRC1322 |
38.0 |
39.0 |
1.0 |
1.19 |
and |
44.0 |
62.0 |
18.0 |
0.60 |
KRC1323 |
28.0 |
38.0 |
10.0 |
0.87 |
and |
42.0 |
64.0 |
22.0 |
1.04 |
and |
76.0 |
79.0 |
3.0 |
1.20 |
KRC1324 |
18.0 |
19.0 |
1.0 |
3.01 |
and |
29.0 |
53.0 |
24.0 |
0.61 |
and |
66.0 |
80.0 |
14.0 |
0.79 |
KRC1325 |
42.0 |
53.0 |
11.0 |
1.37 |
and |
58.0 |
69.0 |
11.0 |
1.23 |
and |
74.0 |
78.0 |
4.0 |
0.68 |
KRC1326 |
0.0 |
3.0 |
3.0 |
0.71 |
and |
8.0 |
10.0 |
2.0 |
0.90 |
and |
16.0 |
22.0 |
6.0 |
0.51 |
and |
35.0 |
37.0 |
2.0 |
0.85 |
KRC1327 |
38.0 |
60.0 |
22.0 |
2.54 |
KRC1328 |
51.0 |
52.0 |
1.0 |
6.57 |
and |
57.0 |
58.0 |
1.0 |
1.49 |
and |
66.0 |
74.0 |
8.0 |
0.92 |
KRC1329 |
11.0 |
17.0 |
6.0 |
0.66 |
and |
21.0 |
31.0 |
10.0 |
1.09 |
KRC1330 |
24.0 |
33.0 |
9.0 |
0.75 |
and |
37.0 |
44.0 |
7.0 |
0.86 |
KRC1331 |
42.0 |
50.0 |
8.0 |
0.92 |
and |
57.0 |
64.0 |
7.0 |
1.09 |
KRC1332 |
71.0 |
80.0 |
9.0 |
0.97 |
KRC1333 |
33.0 |
42.0 |
9.0 |
0.76 |
KRC1334 |
10.0 |
12.0 |
2.0 |
1.10 |
and |
23.0 |
36.0 |
13.0 |
0.85 |
and |
75.0 |
76.0 |
1.0 |
2.34 |
KRC1335 |
38.0 |
63.0 |
25.0 |
1.19 |
Junction Zone remains open toward the Bagfarm zone, only 300 metres to the south. Further step-out drilling is planned along the Junction Fault, a regional scale fault extending southwest through Bagfarm and northeast, toward Kinkine.
The Junction deposit consists of near surface, potentially open-pittable, mainly oxide mineralization. In September 2006, RSG Global Consulting estimated an indicated resource of 15,000 ounces of gold in 425,000 tonnes grading 1.1 g/t Au and an additional inferred resource of 32,000 ounces in 845,000 tonnes grading 1.2 g/t Au.
Exploration Program
Two drills are wrapping up the current phase of drilling at Sanu Filanan, Sanu Filanan Extension, and KD-1 Extension. Drilling is expected to be completed in early August. Resource modelling is planned for August and an updated resource estimate can be expected in September.
Sampling and Assay Procedures
RC drill samples were collected from the cyclone and split using a 1 in 8 riffle splitter down to approximately 2.5kg in size. All samples were sent to the SGS analytical laboratory in Siguiri, Guinea for further sample preparation and fire assay using a 50-gram sub sample. Along with SGS internal quality control procedures, external field duplicates, blanks and certified standards are undertaken over 5% of all sampling. Quality control/quality assurance is closely monitored by RSG Global personnel.
Personnel
Senior Geologist Brad Ackroyd of RSG Global Consulting heads the exploration team in Guinea. Christopher J. Wild, P.Eng, VP Exploration for Cassidy Gold Corp, is the Qualified Person for this release.
On behalf of the Board of Directors
Cassidy Gold Corp.
James T. Gillis
James T. Gillis, President & CEO
For further information please contact: Jim Gillis, President -- Phone: 250-372-8222 or Fax: 250-828-2269
This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at SEDAR-CDY
If you wish to be placed on Cassidy Gold Corp.'s e-mail press release list, please contact us at cassidygold@telus.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.