Canadian Gold Corp. Intersects Two Separate High-Grade Zones Returning 12.9 gpt Gold Over 3.0 Metres & 7.6 gpt Over 5.8 Metres Within Broad Mineralized Intervals at South Zone
Rhea-AI Summary
Positive
- Discovery of two separate high-grade gold zones with impressive grades (12.9 gpt over 3.0m and 7.6 gpt over 5.8m)
- Identification of new geological target previously unknown at South Zone, potentially increasing ounces per vertical metre
- Vertical extent of mineralization increased by 120% from recent expansion results
- Results support potential for larger-scale mine restart with improved project economics
Negative
- Drilling program temporarily suspended due to forest fire evacuation orders
- True widths of the system are not yet known due to lack of drilling
- Lower grade material requires further evaluation for optimal mining and processing strategy
News Market Reaction
On the day this news was published, STRRF declined 5.48%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Flin Flon, Manitoba--(Newsfile Corp. - June 10, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce ongoing drill results from its Phase 4 drill program at the
"Today's results continue to build on the potential we see emerging at the South Zone. Despite the ongoing forest fire evacuation orders of Flin Flon and the surrounding region, including Tartan, our geology team, working diligently offsite, were able to get these encouraging drill results completed. Significant rainfall and cooler temperatures in the region over recent days have helped the firefighting crews and reduced the scope of the forest fires. We eagerly await the 'all clear' from the Province of Manitoba to be able to get back on site and resume the Phase 4 drill program." - Michael Swistun, CFA, President & CEO
Drilling Highlights:
Hole TLSZ25-35 intersected two separate high-grade gold zones, returning 12.9 gpt gold over 3.0 metres and 7.6 gpt gold over 5.8 metres, both occurring within broader zones of 3.7 gpt gold over 23.0 metres and 3.3 gpt gold over 17.2 metres, respectively.
Similar to the Main Zone's lower grade material, the Company will be evaluating how best to mine and process this material within the potential mine life to best maximize the financial returns of the project.
The identification of two distinct zones opens a new target for exploration not previously known at the South Zone.
This development could materially increase the South Zone's total ounces per vertical metre, enhancing project economics and supporting a larger-scale restart scenario at the Tartan Mine.
These intersections occur in separate intervals within the same hole, confirming the presence of two discrete zones of gold mineralization between 345 and 376 metres below surface, a new geological development not previously observed at the South Zone.
Forest Fire Update
On May 28, 2025, the Company temporarily suspended drilling at the Tartan Mine due to safety concerns related to the forest fires near Flin Flon. The Company will announce when it is safe to resume drilling.
Table 1. Drilling Assay Highlights
| Drill Hole | From (metres) | To (metres) | Interval1 (metres) | Depth Below Surface (metres) | Gold Grade (gpt) | Zone2 |
| TLSZ25-34 | 463.00 | 464.00 | 1.00 | 403 | 12.3 | SZ |
| TLSZ25-35 | 210.00 | 214.00 | 4.00 | 172 | 4.4 | HWZ |
| Including | 212.00 | 213.00 | 1.00 | 10.9 | ||
| And | 410.20 | 427.40 | 17.20 | 345 | 3.3 | SZ |
| Including | 410.20 | 416.00 | 5.80 | 7.6 | ||
| Including | 415.00 | 416.00 | 1.00 | 26.2 | ||
| And | 450.00 | 473.00 | 23.00 | 376 | 3.7 | |
| Including | 457.00 | 460.00 | 3.00 | 12.9 | ||
| Including | 457.00 | 458.00 | 1.00 | 21.0 | ||
| And including | 467.00 | 470.00 | 3.00 | 385 | 5.7 | |
| TLSZ25-37 | 167.00 | 169.00 | 2.00 | 4.3 | SZ | |
| Including | 168.00 | 169.00 | 1.00 | 7.0 | ||
| And | 172.00 | 175.50 | 3.50 | 3.0 | ||
| Including | 174.50 | 175.50 | 1.00 | 5.9 | ||
| 1Interval widths reported; true widths of the system are not yet known due to lack of drilling.2 SZ and HWZ refers to the South Zone and Hanging Wall Zone. | ||||||
Table 2. Details of Drill Holes Reported in This News Release
| Drill Hole | Azimuth (Degrees) | Dip (Degrees) | Length (metres) | Easting (UTM) | Northing (UTM) |
| TLSZ25-33W1 | 002 | -66 | 686 | 324852 | 6081843 |
| TLSZ25-33W2 | 002 | -66 | 686 | 324852 | 6081843 |
| TLSZ25-34 | 358 | -61 | 557 | 324851 | 6081848 |
| TLSZ25-35 | 002 | -57 | 503 | 324881 | 6081867 |
| TLSZ25-36 | 002 | -54 | 599 | 324919 | 6081839 |
| TLSZ25-37 | 359 | -50 | 239 | 324784 | 6081959 |
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Social Media Accounts:
X (Twitter)
Instagram
Facebook
LinkedIn
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.
Technical Information
The samples collected by Canadian Gold Corp. described in this news release were transported in secure sealed bags for preparation and assay by ALS Labs in Thunder Bay, Ontario. The samples reported are NQ size ½ core samples crushed in their entirety to
About Canadian Gold Corp.
Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Figure 1. Tartan Mine Plan Map illustrating the location of the Main and South Zones.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/255015_e434725b04c079c3_001full.jpg
Figure 2. Tartan Mine - South Zone Longitudinal Section illustrating the location of holes reported in this release.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/255015_e434725b04c079c3_002full.jpg
Figure 3. Tartan Mine - Main Zone Longitudinal Section (from Feb 18, 2025 press release).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/255015_e434725b04c079c3_003full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255015
FAQ
What were the key gold intersections reported in STRRF's latest drill results?
Why did Canadian Gold Corp (STRRF) suspend drilling at the Tartan Mine?
What is the significance of the South Zone discovery for Canadian Gold Corp?
What are Canadian Gold Corp's objectives for the South Zone drilling program?
How deep are the new gold zones discovered by STRRF at the South Zone?
