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. Infill and step-out drilling at the Sanu Filanan deposit so far in 2007 include 45 RC holes totalling 4332.5 metres. Results have been received for the first 36 holes. Drilling continues to extend the deposit along strike to the northwest.
Highlights include 28.96 g/t Au over 3.0 metres in KRC1183, 8.30 g/t Au over 11.0 metres in KRC1187, 9.44 g/t Au over 20.0 metres in KRC1189, 4.12 g/t Au over 11.0 metres in KRC1214 and 2.09 g/t Au over 17.0 metres in KRC1217. True widths are approximately 70% of reported intervals.
Drilling at Sanu Filanan has been conducted in 4 phases this year. Seven holes, KRC1183 to KRC1189, were drilled to improve the interpretation at the high-grade northern section of the deposit. Positive indications in these drill holes led to another 10 holes, KRC1214 to KRC1223, stepping further northwest toward the Sanu Folo deposit. Twelve more holes, KRC1239 to KRC1250, tested the area where the Sanu Filanan and Sanu Folo structures meet to better interpret both mineralized trends. Finally, 13 holes, KRC1283 to KRC1295, were completed along the east side of Sanu Filanan to outline mineralized structures between Sanu Filanan and the JJ Vein. Results are pending for these last 13 holes.
Sanu Filanan -- Northern High Grade Zone
KRC1183 to KRC1189 filled in gaps in the interpretation of the north end of the Sanu Filanan deposit. All seven holes intersected strong mineralization, almost all outside the current resource model. Intervals outside the western boundary include 0.79 g/t Au over 13.0 metres in KRC1184 and all intervals in KRC1185 and KRC1186 (see Table 1). Outside the eastern boundary, intervals include 8.30 g/t Au over 11.0 metres in KRC1187, 1.42 g/t Au over 10 metres in KRC1188, and 9.44 g/t Au over 20.0 metres in KRC1189.
Table 1 Sanu Filanan -- Northern Section
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
KRC1183 |
41.0 |
44.0 |
3.0 |
0.98 |
and |
120.0 |
121.0 |
1.0 |
1.08 |
and |
125.0 |
128.0 |
3.0 |
28.96 |
KRC1184 |
19.0 |
32.0 |
13.0 |
0.79 |
and |
124.0 |
125.0 |
1.0 |
3.45 |
and |
131.0 |
132.0 |
1.0 |
5.01 |
KRC1185 |
42.0 |
49.0 |
7.0 |
6.01 |
and |
61.0 |
64.0 |
3.0 |
1.48 |
and |
73.0 |
78.0 |
5.0 |
1.14 |
and |
83.0 |
87.0 |
4.0 |
11.71 |
KRC1186 |
0.0 |
1.0 |
1.0 |
1.93 |
and |
14.0 |
16.0 |
2.0 |
1.42 |
and |
44.0 |
45.0 |
1.0 |
1.77 |
and |
75.0 |
78.0 |
3.0 |
1.72 |
KRC1187 |
70.0 |
81.0 |
11.0 |
8.30 |
KRC1188 |
27.0 |
37.0 |
10.0 |
1.42 |
and |
62.0 |
75.0 |
13.0 |
0.58 |
KRC1189 |
62.0 |
82.0 |
20.0 |
9.44 |
Sanu Filanan -- North Step-out
The success of KRC1183 to KRC1189 led to an additional 10 holes, KRC1214 to KRC1223, stepping 200 metres to the northwest where previous drilling had had limited success. Section KRC1214 and KRC1220 significantly increased the width of mineralization (see Table 2). Forty metres north, KRC1216 also widened the zone, but KRC1215 was collared outside the mineralized zone. On the next section to the northwest, KRC1217 and KRC1219 also significantly increased the width of the mineralized zone. Stepping another 40 metres northwest, KRC1218 modestly adds to the model. Immediately south of Sanu Folo, KRC1221 and KRC1222 picked up the mineralized trend but failed to hit economic mineralization as Sanu Filanan is disrupted by the Sanu Folo structure. Finally, KRC1223 appears to hit Sanu Filanan mineralization adjacent to Sanu Folo.
Table 2 Sanu Filanan -- North Step-out
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
KRC1214 |
75.0 |
86.0 |
11.0 |
4.12 |
and |
98.0 |
99.0 |
1.0 |
1.81 |
KRC1216 |
35.0 |
39.0 |
4.0 |
1.57 |
KRC1217 |
36.0 |
53.0 |
17.0 |
2.09 |
KRC1218 |
43.0 |
49.0 |
6.0 |
0.72 |
and |
54.0 |
59.0 |
5.0 |
1.24 |
KRC1219 |
63.0 |
68.0 |
5.0 |
1.81 |
and |
90.0 |
92.0 |
2.0 |
0.94 |
and |
96.0 |
97.0 |
1.0 |
0.85 |
and |
106.0 |
108.0 |
2.0 |
2.25 |
KRC1220 |
22.0 |
29.0 |
7.0 |
1.20 |
KRC1221 |
29.0 |
30.0 |
1.0 |
1.20 |
KRC1222 |
80.0 |
81.0 |
1.0 |
1.50 |
KRC1223 |
12.0 |
13.0 |
1.0 |
1.43 |
and |
28.0 |
30.0 |
2.0 |
2.61 |
and |
75.0 |
78.0 |
3.0 |
9.58 |
Sanu Filanan -- Sanu Folo
Twelve holes were drilled to connect the Sanu Filanan to the Sanu Folo structure. As Table 3 shows, a number of significant intervals were drilled near the intersection of the two zones demonstrating that mineralization continues to the northwest where it intersects cross cutting east-west trending Sanu Folo Zone mineralization. More drilling will be required to complete the interpretation of each zone.
Table 3 Sanu Filanan -- Sanu Folo
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
KRC1239 |
13.0 |
16.0 |
3.0 |
10.29 |
and |
61.0 |
65.0 |
4.0 |
0.69 |
and |
88.0 |
89.0 |
1.0 |
14.50 |
and |
108.0 |
109.0 |
1.0 |
1.34 |
KRC1240 |
69.0 |
73.0 |
4.0 |
1.33 |
and |
113.0 |
114.0 |
1.0 |
1.46 |
KRC1242 |
2.0 |
5.0 |
3.0 |
3.21 |
and |
35.0 |
39.0 |
4.0 |
4.71 |
and |
47.0 |
55.0 |
8.0 |
1.14 |
KRC1243 |
22.0 |
32.0 |
10.0 |
0.57 |
and |
39.0 |
44.0 |
5.0 |
0.81 |
and |
67.0 |
70.0 |
3.0 |
0.65 |
and |
78.0 |
80.0 |
2.0 |
5.28 |
and |
85.0 |
87.0 |
2.0 |
0.82 |
KRC1244 |
99.0 |
102.0 |
3.0 |
1.73 |
KRC1245 |
73.0 |
76.0 |
3.0 |
1.16 |
KRC1246 |
13.0 |
14.0 |
1.0 |
1.14 |
KRC1247 |
45.0 |
53.0 |
8.0 |
1.20 |
and |
61.0 |
64.0 |
3.0 |
2.04 |
and |
69.0 |
76.0 |
7.0 |
1.47 |
and |
97.0 |
98.0 |
1.0 |
1.26 |
KRC1248 |
11.0 |
21.0 |
10.0 |
1.96 |
KRC1249 |
10.0 |
15.0 |
5.0 |
0.83 |
KRC1250 |
75.0 |
78.0 |
3.0 |
1.84 |
An updated location maps will be posted on www.cassidygold.com shortly.
The Sanu Filanan deposit consists of near surface, potentially open-pittable, mainly oxide resource, outlined over a strike length of 900 metres. In September 2006, RSG Global Consulting estimated an indicated resource of 161,000 ounces of gold in 1,552,000 tonnes grading 3.2 g/t Au and an additional inferred resource of 205,000 ounces in 2,811,000 tonnes grading 2.3 g/t Au. An independent technical report describing the details of the resource study is posted at www.sedar.com.
Exploration Program
Resource drilling continues on three zones: Sanu Filanan Extension, JJ Vein, and KD-1. Two drills, including a multi-purpose rig, continue to drill extensions to the known deposits in advance of a resource update likely to be initiated in August 2007. Limited scoping work is underway in anticipation of initiating a formal economic evaluation of the project after the resource update is complete.
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.