Thesis Gold Intersects 38.00 Metres of 3.62 g/t Au at Steve Zone, Ranch Project
Prnewswire·2026-01-21 12:04

Core Insights - The article highlights the confirmation of high-grade gold (Au) within a broad mineralized envelope at the Steve Zone, validating geological interpretations and demonstrating continuity from previous drilling [1][2][3] - The results indicate significant potential for future growth through continued exploration, as the Steve Zone is not currently included in the Ranch Mineral Resource or Prefeasibility Study (PFS) [2][11] Geological Setting - High-grade Au is associated with silica-barite veining and brecciation within a broader Au-bearing system altered by silica and dickite [2][4] - The exploration results underscore the strength of the exploration thesis at Ranch, confirming the scale and upside potential of the mineralized system [2][11] Drilling Results - Drillhole 25STVDD005 intersected 77.00 meters of 1.86 grams per tonne (g/t) Au, including intervals of 3.62 g/t Au over 38.00 meters and 15.47 g/t Au over 3.00 meters [5][7] - Drillhole 25STVDD004 intersected 46.00 meters of 0.23 g/t Au, with a notable silver (Ag) intersection of 2.00 meters at 75.06 g/t Ag [5][7] - The confirmation of mineralization from surface to depths greater than 500 meters supports the interpretation of a vertically extensive epithermal system [5][6] Mineralization Characteristics - The barite-associated gold mineralization at Steve shows similarities with other zones at Ranch, indicating a vertically and laterally extensive epithermal system [4][6] - Shallow drilling also revealed silver-enriched mineralization within an oxidized zone, indicating vertical metal zonation [6][11] Future Exploration Plans - The 2025 drill program at the Steve Zone, consisting of five drill holes, aims to define the continuity of mineralization and the relationship between localized high-grade gold and broader mineralized envelopes [2][11] - The company plans to advance toward feasibility-level studies, with a focus on the potential for Steve to contribute to future mineral resource growth [11]