VANCOUVER, BC, June 5, 2025
/CNW/ - Thesis Gold Inc. ("Thesis" or the "Company") (TSXV:
TAU) (WKN: A3EP87) (OTCQX: THSGF) is pleased to announce the
mobilization of crews for the 2025 exploration season at its
100%-owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining
District. The Company is advancing work toward a Pre-Feasibility
Study (PFS), targeted for release in Q4-2025. This season's program
will lay critical groundwork for future engineering studies, with
geological efforts focused on defining the project's broader
potential. Concurrently, engineering and environmental initiatives
will continue to de-risk the project ahead of the Environmental
Assessment (EA) process, anticipated to begin in the second half of
2025.
2025 Program Highlights
- Geological work:
- 10,000+ metres (m) of drilling will be split
between resource expansion and testing undrilled prospects at
Ranch.
- A portion of this season's drill program will be directed
toward follow-up drilling at the Ring zone, a discovery made in
2024 (see November 13th,
2024 news release entitled "Thesis Gold makes new
near-surface discovery at the Ring zone).
- Resource expansion drilling will target the Bingo and Steve
zones, where the technical team sees significant upside to help
unlock broader project-scale potential.
- Thesis will test several new targets for near-surface
epithermal-style mineralization while also advancing its
understanding of deeper porphyry potential, as highlighted by
geological, geochemical, and geophysical anomalies. The Toodoggone
District remains significantly underexplored for porphyry systems,
and this season's program will include drilling at multiple
high-potential porphyry centers identified across the project
area.
- Thesis has contracted Simcoe Geoscience to conduct a
3D induced polarization (IP) survey. These data will
be utilized in drill targeting later this season.
- During the latter part of the summer, field crews will mobilize
to the Company's satellite claim blocks, the North and East claims,
to build on a successful preliminary mapping and
prospecting program from 2024.
- Engineering work:
- 5,000 m of
multipurpose geotechnical drilling will provide preliminary
information to allow the company to move swiftly from the 2025 PFS
to further engineering studies in 2026.
- Drilling aimed at characterizing the structural integrity of
rock both within the resource and in the conceptual pit walls will
support important project design criteria including pit slopes,
underground mine geotech, and estimates for mine/pit
inflow.
- Additional metallurgical studies at both Ranch and
Lawyers will help further classify rock comminution characteristics
and optimize the processing flowsheet.
- Additional geochemical sampling will go towards
further classifying the acid-base conditions of mineralized and
waste material.
- Environmental studies:
- The required two years of baseline data collection at
Lawyers is complete, with ongoing studies focused on monitoring
and upkeep.
- Ranch is in the final months of baseline data
collection. Biologists and hydrogeologists will be on-site this
summer to continue characterizing the project's aquatic,
terrestrial, geochemical, and meteorological components.
Dr. Ewan Webster, President and
CEO, commented, "We are excited to launch the 2025 exploration
season at our Lawyers-Ranch Project. Building on the momentum of
previous years, this season's comprehensive geological,
engineering, and environmental programs are focused on continued
project de-risking and value creation. With over 15,000 metres of
drilling planned, our objectives are to expand known resources,
test high-priority new epithermal and porphyry targets, and support
long-term development. Concurrent engineering and environmental
baseline work will continue to underpin future technical studies
and advance the environmental assessment process. These efforts
reflect our commitment to efficiently advancing the Lawyers-Ranch
Project as a premier precious metals asset."
The Lawyers-Ranch project offers significant exploration
potential, with over 20 undrilled gold showings and numerous areas
identified with promising geological, geochemical, and geophysical
anomalies. This year, the Company plans to focus on anomalies
within the Ranch project area that show promise for future
discoveries (Figure 1). Throughout the winter, the technical team
has been leveraging a robust geochemical and geophysical dataset to
highlight a prospective corridor between Ring, Steve, Mandusa, and
Golden Furlong at the Ranch area.
The exploration potential in this region is twofold, as Thesis aims
to leverage the opportunity for additional discoveries of shallow
epithermal-style mineralization that have the potential to further
unlock clues about the porphyry potential below the Ranch lithocap,
with some deeper holes testing favorable structures and
intersecting anomalies (Figure 2).
Dr. Evan Orovan, Chief Geologist,
commented, "I am excited to get to the Lawyers-Ranch Project this
summer to contextualize this winter's desktop work with some
boots-on-the-ground geology. Drawing from my global experience in
porphyry-epithermal systems, I expect to learn a lot from this
summer's exploration program and our new targets at Ranch."
To date, Thesis has made significant progress in de-risking the
Lawyers-Ranch Project. The upcoming PFS, targeted for release in Q4
2025, builds on the strong results of the Preliminary Economic
Assessment (PEA) announced on September 5,
2024, which outlined an after-tax NPV5% of C$1.28 billion, a 35.2% IRR, and a 2.0-year
payback period. Part of this summer's objective is to initiate key
data collection to support a Feasibility-level engineering study,
planned to commence immediately following the completion of the
PFS.
Environmental baseline studies are critical to understanding
site-specific conditions prior to project development. These
studies require a minimum of two years of data collection covering
air, water, soil, and biological resources. Once complete, ongoing
monitoring ensures that the established baseline can inform
accurate environmental modeling and support the EA process expected
to kick off in H2 2025. This summer, biologists will complete the
final months of baseline data collection at Ranch and continue
monitoring efforts at both Ranch and Lawyers.
Quality Assurance and Control
Samples were analyzed at
ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017
accredited facility). The sampling program was undertaken by
Company personnel under the direction of Andrew Turner, P.Geol. A secure chain of custody
is maintained in transporting and storing of all samples. Gold was
assayed using a fire assay with atomic emission spectrometry and
gravimetric finish when required (+10 g/t Au). Drill intervals with
visible gold were assayed using metallic screening. Rock chip
samples from outcrop/bedrock are selective by nature and may not be
representative of the mineralization hosted on the project.
The technical content of this news release has been reviewed and
approved by Michael Dufresne, M.Sc,
P.Geol., P.Geo., a qualified person as defined by National
Instrument 43-101.
Thesis granted an aggregate of: (i) 500,000 stock options (the
"Options") to employees; (ii) 750,000 deferred share units (the
"DSUs") to directors; and (iii) 1,500,000 RSUs to directors and an
officer with all awards governed by the Omnibus Long-Term Incentive
Plan and each applicable award agreement.
Each vested Option entitles the holder to purchase one common
share of the Company (each, a "Common Share") at an exercise price
of $1.20 per Common Share for five
years from June 4, 2025 (the "Grant
Date"). Half the Options vest on the first anniversary of the Grant
Date, with the remaining vesting on the second anniversary of the
Grant Date.
Each vested RSU entitles the holder to receive one Common Share
on settlement. The RSUs vest upon the earlier of the termination
date of the holder and ten years. Each vested DSU entitles the
holder to receive one Common Share upon settlement. The DSUs vest
and settle on the DSU holder's termination date.
On behalf of the Board of Directors
Thesis Gold Inc.
"Ewan Webster"
Ewan Webster Ph.D., P.Geo.
President, CEO, and Director
About Thesis Gold Inc.
Thesis Gold Inc. is a resource development company focused on
unlocking the potential of its 100% owned Lawyers-Ranch Project,
located in British Columbia's
prolific Toodoggone Mining District. The recently completed
Preliminary Economic Assessment (PEA) highlights robust project
economics, including a 35.2% after-tax IRR and an after-tax NPV5%
of C$1.28 billion, demonstrating the
potential for significant value creation. The Company's 2025
roadmap includes a robust exploration and drill program, delivery
of a Pre-Feasibility Study on the combined Lawyers-Ranch Project,
and commencement of the Environmental Impact Assessment Process.
Through these strategic moves, Thesis Gold intends to elevate the
Lawyers-Ranch Project to the forefront of global precious metals
ventures.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation,
statements regarding the use of proceeds from the Company's
recently completed financings and the future plans or prospects of
the Company. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are necessarily based upon a
number of assumptions that, while considered reasonable by
management, are inherently subject to business, market, and
economic risks, uncertainties, and contingencies that may cause
actual results, performance, or achievements to be materially
different from those expressed or implied by forward-looking
statements. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated, or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Other factors which
could materially affect such forward-looking information are
described in the risk factors in the Company's most recent annual
management's discussion and analysis, which is available on the
Company's profile on SEDAR+ at www.sedarplus.ca. The Company does
not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/thesis-gold-announces-2025-exploration-program-and-mobilizes-crews-to-lawyers-ranch-project-302474027.html
SOURCE Thesis Gold Inc.
