TDG Gold (TSXV:TDG) CEO Dr. Fletcher Morgan shared that, despite the termination of an acquisition agreement for the Nueva Esperanza silver-gold project, the company is now focused on restarting the Shasta mine in BC.
“We decided not to proceed with our intended acquisition of the Esperanza silver-gold project in Chile,” expressed Dr. Morgan. “Chile has undergone a major shift in its political landscape and we expect that to lead to seismic changes in overhauling the mining tax regime. That obviously gave us a pause. On the positive side, the results that have been coming out of our 2021 diamond drill program at our Shasta project have exceeded our expectations.”
In a press release, TDG Gold announced the first composite drill results from its 2021 Shasta diamond drill campaign, which include 29 meters of 1.78 grams per tonne (g/t) gold with 89 g/t silver in drill hole SH21-005, and 33.5 meters of 1.03 g/t gold with 41 g/t silver (1.53 g/t gold equivalent) in drill hole SH21-004. Both are within the Shasta Creek zone south of the historical workings at TDG’s Shasta project located in the Toodoggone district.
According to Dr. Morgan, the diamond drill results provided a positive reconciliation with the historical work that was undertaken there. The company is looking forward to not only publishing the results that are coming, but also starting to go to the next level of detail at Shasta in terms of understanding the controls.
Dr. Morgan added that the company is poised to take all information and convert it to get an initial mineral resource estimate for Shasta. The next step from there is to start working out how to leverage the infrastructure: a mill, a permitted mine area and a camp.
“We have an opportunity that brings that balance of brownfield exploration and blue sky exploration potential. I think we’re very competitively valued right now with our Mets mining lease. It’s a small form of producing asset located 23 kilometers from Baker,” he said. “Our aim is to build a mine and to get Shasta back into production. We’re aiming to make a production decision within the next two to three years.”
Watch the full interview of TDG Gold CEO Dr. Fletcher Morgan above.
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