Cassidy Gold Corp.

Published : March 19th, 2008

Hits 42m of 4.87 g/t Au at Junction Zone, Kouroussa Gold Project, Guinea

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Mar 19, 2008: News Releases: Cassidy Gold Hits 42m of 4.87 g/t Au at Junction Z... (more...)

Dec 04, 2007: News Releases: Drilling Resumes at Cassidy Gold's Kouroussa Proje...
(more...)

Nov 27, 2007: Presentations: October 2007 Presentation
(more...)

Nov 08, 2007: News Releases: Indicated Resources Increase 38% at Cassidy Gold's...
(more...)





 

Wednesday, March 19, 2008
Cassidy Gold Hits 42m of 4.87 g/t Au at Junction Zone, Kouroussa Gold Project, Guinea


 



Cassidy Gold Corp. (CDY:TSX-V) is pleased to announce results from reverse circulation (RC) drilling on its 100%-owned Kouroussa Gold Project, located in Guinea, West Africa. Drilling is focused on the Junction, Bag Farm and Ridge zones in Sodyanfe area. This release reports the initial 48 holes (5198m) of the 88 holes (9488m) completed as of March 16th. Highlights include 4.87 g/t Au over 42.0 metres in KRC1432 and 2.52 g/t Au over 20.0 metres in KRC1430 at Junction, and 1.03 g/t Au over 27.0 metres in KRC1458 at the Ridge zone. True thicknesses are estimated to be 90-95% of reported intervals for Junction and Bag Farm but are not known for the Ridge zone. These results show the continuity of potentially economic mineralization over a 1.5 kilometre strike length, extending to at least 75 metres depth.

Junction Zone

Of the 21 holes drilled on Junction, 11 tested the mineralized zone 25-40 metres down dip of previous drilling (see Cassidy Gold News Release -- July 31, 2007), and 10 tested identified splays off the Junction fault structure, adjacent to the Junction zone. Highlights are presented in Table 1. KRC1429 -- 1436 and 1441 -- 1443 were very successful in extending Junction to depth and at elevated grades compared to previous holes in the area. KRC1445 -- 1450 discovered a sub parallel zone of mineralization, less than 200 metres east of Junction.

Table 1 Junction Zone

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

KRC1429

57.0

75.0

18.0

2.52

KRC1430

6.0

11.0

5.0

0.53

and

51.0

52.0

1.0

4.76

and

56.0

76.0

20.0

2.52

KRC1431

10.0

15.0

5.0

0.57

and

47.0

48.0

1.0

1.27

and

52.0

56.0

4.0

1.30

and

61.0

85.0

24.0

1.39

KRC1432

55.0

97.0

42.0

4.87

and

102.0

109.0

7.0

0.75

KRC1433

63.0

65.0

2.0

0.77

and

70.0

92.0

22.0

1.45

KRC1434

9.0

13.0

4.0

0.66

and

72.0

82.0

10.0

0.95

and

86.0

95.0

9.0

2.26

KRC1435

90.0

104.0

14.0

1.72

KRC1436

100.0

116.0

16.0

0.79

KRC1441

110.0

121.0

11.0

1.03

KRC1442

111.0

120.0

9.0

0.65

KRC1445

6.0

23.0

17.0

1.01

KRC1446

68.0

77.0

9.0

0.51

KRC1447

22.0

34.0

12.0

0.76

KRC1450

21.0

27.0

6.0

0.91



Mineralization is located close to surface, hosted in fine-grained Birimian sedimentary rocks immediately above a mafic volcanic unit. Mineralization occurs in stacked lenses striking northeast southwest and dipping moderately to the southeast. Updated location maps will be posted on www.cassidygold.com shortly.

The Junction deposit consists of near surface, potentially open-pittable, mainly oxide mineralization. In October 2007, Coffey Mining (formerly RSG Global Consulting), estimated an Indicated Resource of 22,000 ounces of gold in 658,000 tonnes grading 1.1 g/t Au and an additional Inferred Resource of 49,000 ounces in 1,377,000 tonnes also grading 1.1 g/t Au.

Bag Farm Zone

Eighteen holes were drilled on 6 sections spaced at 40 metres between the Junction Zone to the north and the Bag Farm Zone to the south. One hole, KRC1444, tested the eastern side of the southern Bag Farm. Results confirm that Bag Farm mineralization extends to, and is likely continuous with, the Junction zone. However, Junction is more uniform and predictable than Bag Farm and the latter's orientation is more northerly.

Table 2 Bag Farm Zone

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

KRC1411

1.0

9.0

8.0

0.68

and

100.0

103.0

3.0

2.75

KRC1412

6.0

13.0

7.0

1.36

KRC1413

2.0

3.0

1.0

2.21

and

71.0

75.0

4.0

0.56

KRC1414

32.0

36.0

4.0

0.56

and

45.0

48.0

3.0

1.14

KRC1415

8.0

10.0

2.0

0.82

KRC1416

9.0

13.0

4.0

0.63

KRC1417

8.0

10.0

2.0

0.71

and

27.0

30.0

3.0

0.93

KRC1418

44.0

45.0

1.0

3.48

KRC1419

67.0

69.0

2.0

1.08

and

83.0

84.0

1.0

1.05

KRC1420

25.0

27.0

2.0

0.84

and

31.0

40.0

9.0

1.11

and

80.0

82.0

2.0

0.70

KRC1421

5.0

18.0

13.0

0.68

and

34.0

36.0

2.0

1.08

and

41.0

44.0

3.0

1.03

and

73.0

76.0

3.0

1.01

KRC1423

14.0

17.0

3.0

0.71

and

33.0

44.0

11.0

0.68

KRC1424

62.0

66.0

4.0

1.45

KRC1425

42.0

49.0

7.0

0.65

KRC1426

1.0

13.0

12.0

0.99

and

23.0

30.0

7.0

1.22

and

35.0

41.0

6.0

1.25

KRC1427

9.0

16.0

7.0

0.53

KRC1428

6.0

17.0

11.0

0.87

KRC1444

128.0

129.0

1.0

1.36



The Bag Farm deposit consists of near surface, potentially open-pittable, mainly oxide mineralization. In October 2007, Coffey Mining estimated an indicated resource of 9,000 ounces of gold in 292,000 tonnes grading 0.9 g/t Au and an additional inferred resource of 7,000 ounces in 151,000 tonnes grading 1.5 g/t Au.

Ridge Zone

Seven holes were drilled along a prominent north-trending ridge at Sodyanfe, dubbed the Ridge Zone based on earlier favourable results. These holes were drilled to allow more complete modelling of the mineralization along the ridge. Preliminary examination of the results suggests that structural controls may be related to the southwest-trending Junction Fault rather than the north-trending ridge structure. Six holes on 2 sections have just been completed to test the projected Junction Fault at the Ridge zone.

Table 3 Ridge Zone

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

KRC1452

29.0

31.0

2.0

2.27

and

85.0

88.0

3.0

1.03

and

94.0

101.0

7.0

0.63

KRC1454

4.0

9.0

5.0

0.78

and

31.0

34.0

3.0

1.20

and

49.0

52.0

3.0

4.07

KRC1458

5.0

9.0

4.0

0.60

and

14.0

17.0

3.0

0.75

and

24.0

51.0

27.0

1.03

and

56.0

68.0

12.0

0.69



Exploration Program

One RC drill continues to drill out the Sodyanfe area deposits. Since drilling resumed in November 2007 after the wet season, 88 drill holes have been completed totalling 9488 metres. Drilling is currently proceeding at the Sidafa Hill target, 1.5 km northeast of Junction.

Sampling and Assay Procedures

RC drill samples were collected from the cyclone and split using a 1 in 8 riffle splitter down to approximately 2.5kg in size. All samples were sent to the SGS analytical laboratory in Siguiri, Guinea for further sample preparation and fire assay using a 50-gram sub sample. Along with SGS internal quality control procedures, external field duplicates, blanks and certified standards are undertaken over 5% of all sampling. Quality control/quality assurance is closely monitored by Coffey Mining personnel.

Personnel

Supervising Geologist Daniel Wilson of Coffey Mining 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$ 56.4 millions as of today (US$ 41.0 millions, € 38.2 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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