Vancouver —
To date, 11 holes have been drilled in the Rainbow zone, and one hole has tested the Sterling zone. The 2,500-metre underground drill program is designed to extend the Rainbow zone laterally as well as to depth. The zone was previously outlined by surface and underground diamond drilling. It extends 265 metres along strike and 360 metres vertically. The deepest intercepts encountered in previous drill intercepts assayed as much as 49.2 grams gold and 528.7 grams silver per tonne over 10.7 metres.
The most recent batch of assay results are as follows:
n Hole SC-8 intersected the Rainbow zone some 25 metres above hole SC-7 (7.1 metres averaging 10.04 grams gold and 504.7 grams silver). Hole SC-8 cut 0.6 metre averaging 4.8 grams gold and 125.1 grams silver per tonne, starting at a down-hole depth of 65.8 metres.
n Hole SC-9 cut the Rainbow zone 25 metres below hole SC-7. The hole intersected 1.3 metres averaging 4.96 grams gold and 173.9 grams silver starting at 102.5 metres down-hole.
n Hole SC-10 intersected the zone between holes SC-5 and -6 (Hole 5 cut 0.69 metre averaging 4.65 grams gold and 125.1 grams silver and hole 6 cut 2.81 metres averaging 4.68 grams gold and 167.3 grams silver). Hole SC-10 returned 1.19 metres averaging 8.78 grams gold and 267.6 grams silver starting at 161.4 metres down-hole. This was followed by a 9.74-metre interval of 3.61 grams gold and 246.4 grams silver starting at 166.03 metres down-hole. Included was a 1.64-metre section assaying 14.72 grams gold and 1,226 grams silver.
Skukum Creek is a structurally controlled, polymetallic gold-silver deposit hosted in Mid-Cretaceous-aged granodiorites, quartz monzonites and granites of the Coast Plutonic Belt. Six mineralized zones have been identified on the property; these occur in faults and shears associated with the northeast-trending Berney Creek Fault. The two principal zones are Rainbow and Kuhn.
The drill program is designed to allow Tagish Lake Gold to move closer to its objective of increasing the resource to a level necessary for a production decision.
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