Toronto, ON – October 26, 2023 – Big Gold Inc. (CSE: BG) (FSE: H7L) (the “Company” or “Big Gold”) is pleased to provide a shareholder update on the Phase 2 Exploration program on the Tabor Property (“Tabor” or the “Project”), situated within the Shebandowan Greenstone Belt northwest of Thunder Bay, Ontario.
The Company has begun preparations for a ground Induced Polarization (IP) survey that is set to encompass a significant portion of the eastern part of the Project area. This survey is a crucial step in our ongoing efforts to refine and pinpoint new exploration and drilling opportunities at Tabor.
Recent surface sampling efforts conducted on the Project have yielded promising results, revealing gold mineralization extending over an extensive 7.5-kilometre stretch along the Shebandowan Greenstone Belt. Of note is the assay value from a grab sample of 0.57 g/t gold at the West End, and the discovery of 1.87 g/t and 2.98 g/t gold at the East Divide target in the eastern part of the property. The upcoming IP Survey is designed to build upon initial groundwork that identified high-priority areas for geophysical examination, ultimately serving as invaluable guidance for identifying prime drilling prospects given the ability of the IP and associated resistivity survey to outline areas of alteration and sulphide mineralization that can prove to be gold bearing. The survey is planned to commence in early November 2023.
Figure 1 – Tabor Project Phase Two Exploration Planned IP Grid.
“We are excited to announce the start of our IP survey at the Tabor Project,” shared Scott Walters, President and CEO. “With the valuable insights gained from our Phase 1 and 2 Exploration Programs to date, we eagerly anticipate being in a position to craft an impactful drill program that capitalizes on this data and will be diligent in updating shareholders as the company progresses with its exploration program.”
Phase 2 Plan for Priority Target:
- Surface Exploration: Additional field visits are planned to take place to help understand alteration and structure which would help define targets for further detailed mapping and sampling of outcrops.
- Re-logging and Sampling Historic Core: Identified stored historic drill core will be reviewed and infill sampled as deemed appropriate, potentially providing high value at low cost.
- IP Survey: Plans are in place to conduct IP surveys, aiding in further understanding of the alteration and mineralization on the property and defining the highest priority drill targets.
- Drill Program: Leveraging data from the summer field program, the Company will refine drill targets and build a database to expedite target prioritization and exploration success.
About the Tabor Project
Tabor is adjacent to the east along trend of the Moss Project of Goldshore Resources Inc. that hosts a current inferred resource of 6 million ounces (grading 1.2 g/t Gold) at the Moss Lake Gold deposit* and is located approximately 20 km to the west of the Delta Resources Delta 1 Project*.
Gold mineralization on the Project is reportedly associated with quartz veins, shearing and sulphides including pyrite, pyrrhotite, sphalerite and chalcopyrite. Geological host rocks include mafic volcanics, sericite schists, felsic porphyry units and chemical sediments. Gabbro, sericite schist and bedded sediments are also reported to outcrop on the Project. Geological and mineralization characteristics on the property are similar to those found on some of the Company’s neighbours properties including Goldshore Resources Inc.’s high-profile Moss Gold Project where 2.17 g/t Au over 50.35 metres was intercepted during their recent drilling and at the Delta Resources’ Delta-1 Gold Project where they recently reported a drill intercept of 1.29 g/t gold over 97 metres.
*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 Project and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
Learn more about the Company on its website: https://biggold.ca/
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.
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.
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 infor