Thistle Resources (TSX-V:TRCG, OTC:TRCGF) earlier this week reported encouraging drill results from its flagship Middle River Gold project in New Brunswick’s Bathurst Mining Camp, with management saying the latest intersection continues to support the scale and growth potential of the emerging gold system.
Speaking with Proactive, chief executive Patrick Cruickshank said drill hole 21TRC-AU007 returned a significant gold-bearing interval from a shallow section of the deposit. The hole formed part of the company’s ongoing drilling campaign aimed at expanding and defining mineralisation at Middle River.
Cruickshank reported that the 74-metre drill hole intersected 21 metres of significant gold mineralisation at a composite grade of approximately 1.66 g/t gold. He described the result as “a pretty rich composite over 74m” and noted that it also contained stronger intervals over eight metres and 14 metres.
The CEO said the result further validates the company’s exploration model. Thistle has identified seven kilometres of mineralised folds across the project area through geophysical work undertaken with specialist partners. To date, the company has defined a deposit extending roughly 400 metres along one of those folds.
A key catalyst for investors will be the company’s continued drilling program. Cruickshank explained that Thistle intends to focus on expanding the current mineralized trend before progressing to additional targets. The strategy is designed to support future inferred and indicated resource estimates through systematic step-out drilling and improved drill density.
The broader exploration opportunity remains significant. Management has identified approximately 50 target centres across the seven-kilometre trend, with each target potentially requiring multiple drill holes. According to Cruickshank, the scale of the mineralized system could support a resource substantially larger than the company’s current objective.
He stated that the initial goal is to define more than two million ounces of gold, but suggested the figure may ultimately prove conservative if exploration success continues. Cruickshank said the mineralised fold system has so far performed in line with expectations and has yet to produce a significant miss.
Alongside Middle River, another important catalyst is the advancement of the Brunswick Antimony project. Cruickshank said the company plans to begin drone surveys and trenching activities immediately. The asset hosts gold, silver and high-grade antimony mineralization, including antimony grades exceeding 10%.
