VANCOUVER, British Columbia, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Taku Gold Corp. (CSE: TAK; OTC: TAKUF) (“Taku” or the “Company”) is pleased to announce positive results from a trenching program completed at its Rosebute Project, located 4 km north, and along trend, of White Gold Corp’s recent Titan discovery in the White Gold district, Yukon (See Figure 1). Highlights of the program include trench 2019-11 (“T19-11”) that intersected two separate parallel gold zones highlighted by 17.5m of 1.9 g/t gold, including a higher grade interval of 2.4m of 5.2 g/t gold from westerly trending veins and stockwork zones (See Figures 2 and 3). Importantly, T19-11 confirmed that significant gold mineralization at the Hudbay zone is predominately hosted by west-southwest rather than north-south structures as previously interpreted. This new understanding has contributed to several follow-up targets to expand the 17.5m wide gold zone identified in T19-11 along strike in both directions and to test the larger Hudbay zone, one of the most significant soil anomalies within the emerging White Gold District.
Jordan Butler, Chief Executive Officer, commented, “The extent and intensity of mineralization at Rosebute demonstrates the presence of a large, underexplored gold-bearing system within the emerging White Gold district. The gold zone and newly confirmed interpretation, combined with recent discoveries adjacent to the property, considerably enhances the potential for new gold discoveries and provides exciting exploration opportunities for 2020.”
Rosebute Trenching Program – Hudbay Zone
The Rosebute Project is located 4 km north, and along trend, of White Gold Corp.’s recent Titan discovery, where they intersected 72.8 g/t gold over 6.1m late in the 2019 field season starting at a depth of only 10.7m. The Hudbay zone, along with the Bute skarn occurrence on the Rosebute property, have several geologic and geophysical similarities to the Titan zone including proximity to a mid-Cretaceous stock, presence of marble, evidence of an ultramafic body and presence of prominent circular magnetic high features.
The program consisted of two trenches totaling nearly 300m at the Hudbay zone, one of three large gold-in-soil anomalies at the Rosebute Project. In addition to the Hudbay zone, the property hosts the Norwest and Furtrade zones. The Norwest zone covers an almost 2 km diameter zone of anomalous gold-in-soils, which form a ring pattern around a central low, with results ranging from negligible to 1,343 ppb gold. A first-pass drill program completed in 2012 intersected significant mineralization in three out of four holes, including 22.6m of 1.0 g/t gold, without a clear understanding of the structural orientation (See Figure 2). The Furtrade zone, which has never been trenched or drilled, covers a linear 1.5 km long zone of anomalous gold-in-soils, adjacent to the Hudbay zone, with soil results ranging from negligible to 356 ppb gold. The Norwest and Furtrade zones warrant significant follow-up exploration based on identified targets.
The Hudbay zone is approximately 1.3 km long and 150 to 300m wide with strong gold-in-soils ranging from negligible to 946 ppb gold. The 17.5m of 1.9 g/t gold intersection in T19-11, open along strike in both directions, occurred within the southern area of the Hudbay zone where nearly all soil samples have returned gold values in excess of 60 ppb over an approximate 500m long and 350m wide area (See Figure 3). A second parallel zone with 17.9m of 0.5 g/t gold, including 2.5m of 2.2 g/t gold, was intersected near the northern end of T19-11 and 120m along trend from T12-04, which previously intersected 20.0m of 1.5 g/t gold (See Figure 3). This zone is also open along strike in both directions.
The 2019 trenches were orientated perpendicular to previous trenching in order to test an interpretation that gold mineralization is predominately hosted within west-southwest rather than north-south structures as previously assumed. The Hudbay zone has not been adequately tested by previous exploration and represents an opportunity to explore a large-scale gold system within the White Gold district.
The technical content of this news release has been reviewed and approved by Jean Pautler, P. Geo, a consultant to the Company, and a Qualified Person as defined by National Instrument 43-101.
Maps:
Figure 1: White Gold District Overview Map (Click here or on the link below).
https://bit.ly/2SV6gvx
Figure 2: Rosebute Property - Diamond Drilling and Soils (Click here or on the link below).
https://bit.ly/32pMTxZ
Figure 3: Rosebute Property – Hudbay Zone Trenching and Soils (Click here or on the link below).
https://bit.ly/32pwyt8
About Taku Gold Corp.
Taku Gold Corp. is a mineral exploration company with key assets in Canada’s Yukon Territory. The Company holds one of the largest land packages within the prolific White Gold and Klondike districts, where numerous significant discoveries have recently been identified and are emerging as the focus of the new Yukon Gold Rush.
The Company’s portfolio consists of more than 10 properties and ~50,000 hectares within the White Gold and Klondike districts including several advanced exploration targets identified on key properties including the Portland, Rosebute and Sonora Gulch projects. Taku also holds a property in the Atlin area of Northern B.C. where limited drilling has identified a prospective gold-silver resource, and several properties within the Keno Hill silver district of the Yukon.
For more information please contact:
Jordan Butler, Chief Executive Officer
(604) 802-4759
info@takugold.com
www.takugold.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company’s periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.