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 continued to focus in and around the high-grade Sanu Filanan deposit. Highlights include 25.97 g/t Au over 20.0 metres in KRC1378, 2.94 g/t Au over 48.0 metres in KRC1379, 17.05 g/t Au over 9.0 metres and 64.06 g/t Au over 9.0 metres in KRC1381, and 12.21 g/t Au over 9.0 metres in KRC1404. True thicknesses are estimated to be 70% of reported lengths. Drilling has been suspended for the remainder of the wet season, resuming in early October.
Sanu Filanan
Seventeen RC holes totalling 1853 metres were completed over the northern section of the Sanu Filanan zone, to extend, define and upgrade the gold resource. One hole, KRC1378, drilled at the south end of Sanu Filanan, intersected 25.97 g/t Au over 20.0 metres, thus upgrading the resource in that area. Similarly, KRC1379, extended broad, high-grade mineralization (2.94 g/t Au over 48.0 metres) to surface in the central portion of the deposit. KRC1381 was successful in highlighting two high-grade intervals on the northwest extension to the zone. KRC1381 intersected 17.05 g/t Au over 9.0 metres on the western limb and 64.06 g/t Au over 9.0 metres on the original Sanu Filanan trend. Thirty metres to the northwest, KRC1404 intersected 12.21 g/t Au over 9.0 metres on the western limb and 7.40 g/t Au over 5.0 metres and 2.35 g/t Au over 6.0 metres on the original trend. KRC1403 was collared too far north to intersect the western limb but did intersect 2.85 g/t Au over 8.0 metres on the original trend.
Table 1 Sanu Filanan Results
|
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
|
KRC1374
|
60.0
|
74.0
|
14.0
|
0.98
|
|
and
|
78.0
|
80.0
|
2.0
|
0.71
|
|
and
|
87.0
|
91.0
|
4.0
|
1.10
|
|
and
|
112.0
|
113.0
|
1.0
|
4.28
|
|
and
|
123.0
|
124.0
|
1.0
|
1.49
|
|
and
|
131.0
|
138.0
|
7.0
|
7.17
|
|
KRC1377
|
55.0
|
60.0
|
5.0
|
0.92
|
|
and
|
103.0
|
104.0
|
1.0
|
3.99
|
|
KRC1378
|
33.0
|
53.0
|
20.0
|
25.97
|
|
and
|
68.0
|
69.0
|
1.0
|
2.43
|
|
KRC1379
|
1.0
|
49.0
|
48.0
|
2.94
|
|
and
|
53.0
|
55.0
|
2.0
|
1.02
|
|
and
|
59.0
|
75.0
|
16.0
|
0.90
|
|
and
|
79.0
|
83.0
|
4.0
|
1.46
|
|
KRC1380
|
3.0
|
20.0
|
17.0
|
0.88
|
|
and
|
34.0
|
36.0
|
2.0
|
0.60
|
|
and
|
97.0
|
109.0
|
12.0
|
2.20
|
|
KRC1381
|
6.0
|
15.0
|
9.0
|
17.05
|
|
and
|
60.0
|
63.0
|
3.0
|
0.69
|
|
and
|
114.0
|
123.0
|
9.0
|
64.06
|
|
KRC1387
|
5.0
|
16.0
|
11.0
|
1.17
|
|
and
|
20.0
|
23.0
|
3.0
|
0.72
|
|
KRC1388
|
3.0
|
6.0
|
3.0
|
4.05
|
|
KRC1389
|
11.0
|
13.0
|
2.0
|
1.98
|
|
KRC1400
|
68.0
|
74.0
|
6.0
|
0.86
|
|
and
|
84.0
|
86.0
|
2.0
|
0.79
|
|
KRC1403
|
62.0
|
70.0
|
8.0
|
2.85
|
|
and
|
123.0
|
124.0
|
1.0
|
9.26
|
|
KRC1404
|
16.0
|
25.0
|
9.0
|
12.21
|
|
and
|
33.0
|
34.0
|
1.0
|
2.36
|
|
and
|
118.0
|
123.0
|
5.0
|
7.40
|
|
and
|
127.0
|
133.0
|
6.0
|
2.35
|
|
KRC1408
|
34.0
|
37.0
|
3.0
|
0.88
|
|
and
|
102.0
|
105.0
|
3.0
|
0.92
|
|
and
|
112.0
|
114.0
|
2.0
|
2.30
|
The western limb of the northwest section of Sanu Filanan remains open and demonstrates the potential to identify additional high-grade lodes adjacent to the Sanu Filanan deposit. Other intervals of gold mineralization in the Sanu Filanan -- Sanu Folo intersection also highlight this potential.
Sanu Filanan East
Nineteen RC holes totalling 1821 metres tested the 300 metres of prospective ground between the Sanu Filanan and JJ Vein deposits. Previous drilling had suggested the possibility of narrow but high-grade zones between the two main mineralized structures. Latest drilling has confirmed this potential. Highlights include 14.49 g/t Au over 5.0 metres in KRC1302, 12.20 g/t Au over 2.0 metres in KRC1291, and 2.20 g/t Au over 7.0 metres in KRC1284. Significant mineralization adjacent to the Sanu Filanan and JJ deposits would enhance the mining economics of the deposits. More definition drilling is required to bring this mineralization into resource.
Table 2 Sanu Filanan East
|
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
|
KRC1281
|
28.0
|
31.0
|
3.0
|
2.37
|
|
and
|
39.0
|
40.0
|
1.0
|
1.06
|
|
KRC1283
|
37.0
|
43.0
|
6.0
|
1.10
|
|
KRC1284
|
4.0
|
11.0
|
7.0
|
2.20
|
|
KRC1285
|
4.0
|
5.0
|
1.0
|
1.35
|
|
and
|
9.0
|
10.0
|
1.0
|
1.21
|
|
KRC1287
|
24.0
|
30.0
|
6.0
|
1.33
|
|
KRC1291
|
10.0
|
12.0
|
2.0
|
12.20
|
|
and
|
23.0
|
24.0
|
1.0
|
1.53
|
|
and
|
67.0
|
69.0
|
2.0
|
2.76
|
|
KRC1292
|
27.0
|
28.0
|
1.0
|
10.40
|
|
and
|
88.0
|
89.0
|
1.0
|
2.00
|
|
KRC1293
|
7.0
|
8.0
|
1.0
|
44.00
|
|
and
|
36.0
|
44.0
|
8.0
|
0.70
|
|
and
|
68.0
|
69.0
|
1.0
|
15.20
|
|
KRC1294
|
8.0
|
9.0
|
1.0
|
1.10
|
|
KRC1295
|
79.0
|
80.0
|
1.0
|
3.35
|
|
KRC1302
|
21.0
|
26.0
|
5.0
|
14.49
|
|
KRC1303
|
8.0
|
9.0
|
1.0
|
0.96
|
|
KRC1304
|
57.0
|
59.0
|
2.0
|
1.32
|
|
and
|
67.0
|
68.0
|
1.0
|
0.99
|
|
KRC1305
|
86.0
|
90.0
|
4.0
|
1.10
|
|
and
|
97.0
|
101.0
|
4.0
|
0.55
|
Sanu Filanan Extension
North of the Sanu Folo structure, a program of 24 RC drill holes and several diamond tails totalling 3052 metres was completed in two main areas. Immediately north of Sanu Folo, the main Sanu Filanan structure extends to the edge of the Koekoe gabbro. The best result is 1.44 g/t Au over 8.0 metres in KRC1406. Two hundred metres further north, Sanu Filanan Extension is a separate zone, widely dispersed in the saprolite. Recent drilling tested the zone further to depth, demonstrating the continuity of mineralization to depth and the multiplicity of zones. Interpretation of this zone is progressing. Highlights include 0.89 g/t Au over 8.0 metres, 1.41 g/t Au over 4.0 metres, and 1.76 g/t Au over 5.0 metres in KRC1375.
Table 3 Sanu Filanan Extension
|
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
|
KRC1347*
|
151.2
|
152.0
|
0.8
|
1.16
|
|
KRC1353
|
26.0
|
27.0
|
1.0
|
0.96
|
|
KRC1375
|
38.0
|
46.0
|
8.0
|
0.89
|
|
and
|
50.0
|
54.0
|
4.0
|
1.41
|
|
and
|
64.0
|
65.0
|
1.0
|
1.16
|
|
and
|
70.0
|
75.0
|
5.0
|
1.77
|
|
KRC1376
|
12.0
|
14.0
|
2.0
|
1.64
|
|
KRC1385
|
16.0
|
18.0
|
2.0
|
1.66
|
|
and
|
36.0
|
37.0
|
1.0
|
2.02
|
|
and
|
50.0
|
54.0
|
4.0
|
0.50
|
|
and
|
97.0
|
99.0
|
2.0
|
0.71
|
|
KRC1390
|
33.0
|
37.0
|
4.0
|
0.89
|
|
KRC1391
|
16.0
|
21.0
|
5.0
|
0.73
|
|
and
|
26.0
|
29.0
|
3.0
|
0.69
|
|
and
|
34.0
|
36.0
|
2.0
|
3.63
|
|
and
|
114.0
|
115.0
|
1.0
|
4.31
|
|
KRC1392
|
2.0
|
3.0
|
1.0
|
1.44
|
|
KRC1394
|
44.0
|
49.0
|
5.0
|
0.73
|
|
and
|
54.0
|
55.0
|
1.0
|
1.34
|
|
and
|
59.0
|
62.0
|
3.0
|
1.11
|
|
and
|
69.0
|
70.0
|
1.0
|
1.16
|
|
KRC1395
|
26.0
|
28.0
|
2.0
|
0.68
|
|
and
|
33.0
|
35.0
|
2.0
|
0.82
|
|
KRC1396
|
17.0
|
18.0
|
1.0
|
1.62
|
|
and
|
99.0
|
102.0
|
3.0
|
0.62
|
|
KRC1397
|
54.0
|
56.0
|
2.0
|
0.55
|
|
and
|
61.0
|
63.0
|
2.0
|
1.34
|
|
and
|
84.0
|
85.0
|
1.0
|
1.37
|
|
and
|
92.0
|
94.0
|
2.0
|
0.96
|
|
and
|
105.0
|
106.0
|
1.0
|
1.61
|
|
and
|
118.0
|
119.0
|
1.0
|
1.16
|
|
KRC1398
|
6.0
|
9.0
|
3.0
|
0.73
|
|
KRC1399
|
119.0
|
121.0
|
2.0
|
0.75
|
|
KRC1405
|
33.0
|
34.0
|
1.0
|
1.85
|
|
and
|
45.0
|
47.0
|
2.0
|
0.94
|
|
and
|
132.0
|
135.0
|
3.0
|
0.75
|
|
KRC1406
|
90.0
|
98.0
|
8.0
|
1.44
|
* diamond drill core
An updated location map will be posted on www.cassidygold.com shortly.
The Sanu Filanan deposit consists of near surface, potentially open-pittable, mainly oxide resource, outlined over a strike length of 900 metres. In September 2006, RSG Global Consulting estimated an indicated resource of 161,000 ounces of gold in 1,552,000 tonnes grading 3.2 g/t Au and an additional inferred resource of 205,000 ounces in 2,811,000 tonnes grading 2.3 g/t Au. An independent technical report describing the details of the resource study is posted at www.sedar.com.
Next Steps
The current phase of resource drilling is now complete for the remainder of the wet season. Drilling is planned to resume in October. RSG Global Consulting has been retained to complete resource modelling and deliver an updated resource estimate by early October. SENET (Pty) Ltd. of South Africa and RSG Global Consulting have been retained to complete a Scoping Study for Kouroussa based on the updated resource. Completion of the scoping study is projected for January 2008. An Environmental and Social Impact Assessment (ESIA) program is planned to begin in October 2007.
Sampling and Assay Procedures
RC drill samples were collected from the cyclone and split using a 1 in 8 riffle splitter down to approximately 2.5 kilograms in size. A rock saw split HQ size drill core samples over sample lengths of 0.5 to 1.5 metres. 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 RSG Global Consulting personnel.
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 cassidygold@telus.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.