Cassidy Gold Corp.

Published : July 17th, 2007

Extending JJ Deposit at Kouroussa Gold Project, Guinea

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Jul 17, 2007: News Releases: Extending JJ Deposit at Kouroussa Gold Project, Gu... (more...)

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Tuesday, July 17, 2007
Extending JJ Deposit at Kouroussa Gold Project, Guinea


 



Cassidy Gold Corp. (CDY:TSX-V) is pleased to announce results from ongoing reverse circulation (RC) drilling on its 100%-owned Kouroussa Gold Project, located in Guinea, West Africa. Thirty-one RC holes totalling 2771 metres stepped out along strike on the JJ Vein structure to the southeast and to the northwest. Highlights include 5.33 g/t Au over 5.0 metres in KRC1196 and 3.15 g/t Au over 8.0 metres in KRC1200. True widths are approximately 90% of drilled widths.

Thirteen drill holes stepped out 275 metres to the southeast, following up on previous favourable results (see Cassidy Gold Corp News Release, February 6, 2007). KRC1200 intersected 3.15 g/t Au over 8.0 metres immediately south of the resource model. Mineralization appears to be displaced 25 metres to the northeast, 100 metres southeast of KRC1200, reappearing in KRC1270 with 4.96 g/t Au over 3.0 metres. Sixty metres further southeast, KRC1196 and KRC1197 intersected 5.33 g/t Au over 5.0 metres and 2.37 g/t Au over 5.0 metres, respectively, before weakening in KRC1198 and KC1199, another 40 and 80 metres to the southeast.

Table 1 JJ Vein South


Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

KRC1195

5.0

6.0

1.0

2.83

KRC1196

7.0

12.0

5.0

5.33

KRC1197

32.0

37.0

5.0

2.37

KRC1198

25.0

27.0

2.0

0.62

KRC1199

0.0

1.0

1.0

1.07

KRC1200

42.0

50.0

8.0

3.15

KRC1270

10.0

12.0

2.0

0.93

KRC1270

19.0

22.0

3.0

4.96

KRC1270

55.0

56.0

1.0

2.48

KRC1271

6.0

7.0

1.0

1.19

KRC1340

66.0

68.0

2.0

1.54


Mineralization associated with the JJ structure continues to the northwest but is generally quite thin and erratic. Locally, grades are strong up to 100 metres northwest of the resource model. KRC1207 intersected 10.85 g/t Au over 2.0 metres, 60 metres to the north and KRC1209 intersected 70.0 g/t Au over 1.0 metres possibly related to the Sanu Folo structure. Further to the northwest, KRC1273 intersected 1.08 g/t Au over 5.0 metres near the top of the hole, suggesting that the zone bends or branches toward the west, parallel with Sanu Folo.

Table 2 JJ Vein North


Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

KRC1204

59.0

60.0

1.0

2.62

KRC1206

28.0

29.0

1.0

4.76

KRC1206

90.0

91.0

1.0

4.62

KRC1207

22.0

23.0

1.0

1.04

KRC1207

84.0

86.0

2.0

10.85

KRC1208

18.0

21.0

3.0

0.71

KRC1208

92.0

93.0

1.0

1.53

KRC1209

4.0

5.0

1.0

70.00

KRC1210

12.0

13.0

1.0

1.15

KRC1210

37.0

38.0

1.0

4.48

KRC1211

38.0

39.0

1.0

1.78

KRC1212

-

5.0

5.0

0.80

KRC1212

26.0

27.0

1.0

2.26

KRC1272

40.0

43.0

3.0

0.79

KRC1273

1.0

6.0

5.0

1.08

KRC1274

5.0

6.0

1.0

2.65


In the latest resource calculation, completed by RSG Global in September 2006, the JJ Deposit included 29,000 ounces of indicated resource in 188,000 tonnes grading 4.9 g/t Au and 20,000 ounces of inferred resource in 194,000 tonnes grading 3.2 g/t Au.

Results for the KD-1 prospect, 250 metres northeast of JJ Vein, are currently being compiled. Updated location maps will be posted on www.cassidygold.com shortly.

Planned Exploration

Drilling continues on the Sanu Filanan structure to the northwest, and on the Sanu Filanan Extension. At Kinkine, a few RC holes will be extended with diamond tails to test mineralization to a depth of around 200 metres. The current phase of drilling is expected to be completed by the end of July. Resource modelling is planned for August and an updated resource estimate can be expected in September.

Sampling and Assay Procedures

RC drill samples were collected from the cyclone and split or pipe sampled to 1 kilogram size. All samples were sent to the SGS analytical laboratory in Siguiri, Guinea for fire assay using a 50-gram subsample. Samples assaying greater than 5 g/t gold are reassayed using a metallics screen technique. Repeat assays are made on every 25th sample, and duplicates and blanks are submitted, one each in every 20 samples. 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.

 

 



 

 

 

 


© 2006 Cassidy Gold Corp. All Rights Reserved.

Cassidy Gold Corp.

EXPLORATION STAGE
CODE : CDX.V
ISIN : CA1479092043
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Cassidy Gold is a gold exploration company based in Canada.

Cassidy Gold holds various exploration projects in Guinea.

Its main exploration properties are NASSILE in Niger and KOUROUSSA in Guinea.

Cassidy Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 61.3 millions as of today (US$ 44.8 millions, € 41.1 millions).

Its stock quote reached its highest recent level on January 09, 2004 at CA$ 1.40, and its lowest recent point on March 04, 2016 at CA$ 0.01.

Cassidy Gold has 490 089 984 shares outstanding.

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