Toronto, ON – February 13, 2024 – Big Gold Inc. (CSE: BG) (FSE: H7L) (the “Company” or “Big Gold”) is pleased to announce positive assay results from its previously announced infill sampling program (“Infill Sampling”) at the Tabor Property (“Tabor” or the “Project”), located in the heart of the Shebandowan Greenstone Belt, northwest of Thunder Bay, Ontario.
The Infill Sampling was designed to analyze previously sampled and unsampled intervals of historical drill core with the objective of adding new gold mineralization at the Project (See Figure 1 and Figure 2).
Drill hole RS-83-01 returned significant mineralization, intersecting 1.5 metres (“m”) of 10.9 grams per tonne (“g/t”) gold (“Au”), 34.1 g/t silver (“Ag”), 0.5 % copper (“Cu”), and 1.8 % zinc (“Zn”), including 0.8 m of 20.8 g/t Au, 56.9 g/t Ag, 0.7% Cu, and 3.3% Zn in previously sampled core (Notable intersections outlined in Table 1).
| Drillhole ID | Previously Sampled | From (m) | To (m) | Width (m) | Sample Number | Au (g/t) | Ag (g/t) | Cu (%) | Zn (%) |
| RS-83-01 | Yes | 28.72 | 28.94 | 0.22 | F370094 | 0.29 | 4.30 | 0.13 | 0.03 |
| Yes | 28.94 | 29.24 | 0.30 | F370095 | 20.10 | 37.30 | 0.55 | 2.43 | |
| Yes | 29.24 | 29.70 | 0.46 | F370096 | 21.30 | 69.70 | 0.86 | 3.93 | |
| Yes | 29.70 | 30.18 | 0.48 | F370097 | 0.13 | 11.60 | 0.23 | 0.11 | |
| No | 39.54 | 40.54 | 1.00 | F370025 | 0.21 | 0.25 | 0.01 | 0.02 | |
| RS-83-02 | Yes | 28.65 | 29.20 | 0.55 | F370101 | 1.84 | 17.00 | 0.05 | 0.43 |
| RS-83-07 | No | 39.30 | 40.30 | 1.00 | F370058 | 0.15 | 0.25 | 0.01 | 0.02 |
| No | 48.50 | 49.50 | 1.00 | F370062 | 0.02 | 0.60 | 0.02 | 0.18 | |
| Yes | 169.70 | 170.27 | 0.57 | F370084 | 0.22 | 0.70 | 0.01 | 0.02 | |
| RS-83-14 | No | 6.56 | 8.00 | 1.44 | F370026 | 0.11 | 0.25 | 0.03 | 0.02 |
| Yes | 61.84 | 62.60 | 0.76 | F370088 | 0.61 | 1.30 | 0.01 | 0.14 | |
| Yes | 62.60 | 63.80 | 1.20 | F370089 | 2.09 | 1.50 | 0.01 | 0.02 | |
| Yes | 63.80 | 64.46 | 0.66 | F370091 | 3.93 | 2.70 | 0.04 | 0.05 |
“Utilizing the Infill Sampling results with the 2023 desktop compilation and surface sampling results will help us better define our first drilling campaign targets in the East Divide zone. We are aiming to kickstart this drilling in mid-2024, after completion of a ground IP survey,” remarked Scott Walters, CEO of Big Gold. He added, “The assay results from the Infill Sampling have improved our geological understanding of the zone and suggest that there is a high likelihood that Goldshore’s gold trend continues onto our property, something we hope the drilling will attest to in 2024.”
Infill Sampling and Exploration Plan Summary
The Infill Sampling program gave Big Gold access to historic core samples drilled in the East Divide area of the Project in 1983 from the Ontario Ministry of Northern Development and Mines (“MNDM”) Thunder Bay Core Library, which is home to an extensive collection of approximately 100,000 m of historic core from the Thunder Bay Mining District.
Figure 1 – Drill Hole Locations Sampled at the Tabor Property
In previously unsampled core, three of the four drill holes intersected low-grade gold mineralization within 10 m of the hole end, indicating further potential at depth. Drill hole RS-83-01 intersected 0.2 g/t Au over 1.0 m at the bottom of hole. Additionally, hole RS-83-07 intersected 0.2 g/t Au over 0.6 m; hole RS-83-14 intersected near-surface gold mineralization grading 0.1 g/t Au over 1.4 m.
These results confirm the extension of the Shebandowan Greenstone Belt onto the Tabor Property. The presence of gold and base metal mineralization within quartz veining associated with shear zones, often at the junctions of mafic and intermediate volcanics, is reminiscent of Goldshore Resources Inc.’s (”Goldshore”) Moss Lake deposit (“Moss Lake”).
Figure 2 – Cross Section of Infill Sampled Drill Hole Highlights
The Infill Sampling yielded valuable insights at a minimal cost, including:
- Verification of historic core to confirm lithology, mineralization, alteration, veining, and structures previously logged
- Acquisition of historic core photographs for archival and future reference
- 69 in-fill samples (half-core) from previously unsampled core segments
- 26 new samples of previously sampled core sections for zone confirmation
Phase 2 Plan for Priority Targets
- Surface Exploration: Additional field visits may take place to define targets for further detailed mapping and sampling of outcrops.
- Re-logging and Sampling of Historic Core: Four historic drill holes on the Property have been sampled, results are in progress.
- IP Survey: Plans are in place to conduct IP surveys, aiming to provide new exploration targets and improved targeting for the 2024 drilling.
- Drill Program: Utilizing all of the data collected in 20323 and 2024, the Company will design its initial drill campaign to discover new gold mineralization.
About the Tabor Project
Tabor is adjacent to the east, along trend of the Goldshore’s Moss Lake gold deposit that hosts a current resource of 6.73 million ounces gold, including an Indicated Resource of 1.535 million ounces gold grading 1.23 g/t and an Inferred Resource of 5.198 million ounces gold at a grade of 1.11 g/t* and is located approximately 20 km to the west of the Delta Resources Delta-1 Project (“Delta-1”)*.
Gold mineralization on the Project is believed to be associated with quartz veins, shearing and sulphides. Geological and mineralization characteristics at Tabor are similar to those found on some of the Company’s neighbouring properties, including Moss Lake where 2.17 g/t Au over 50.35 m was reported during their recent drilling and at the Delta-1, where they recently reported a drill intercept of 1.29 g/t Au over 97 m.
Qualified Person
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and has read and approved the technical information contained in this press release.
*The Project is at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing gold resources offers no assurance that the rock types or gold resources reported by Goldshore and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
About Big Gold Inc.
Big Gold Inc. is a junior mining exploration company. Its initial focus is to conduct Exploration Programs on the Martin Kenty and Tabor projects located in Ontario. Big Gold will also continue to consider other opportunities as they arise, with the objective of acquiring and exploring early-stage base and precious metal projects. Learn more about the Company on its website: https://biggold.ca/.
For more information, please contact investor relations at [email protected].
On Behalf of the Board of Directors,
Scott Walters
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results.