2024 MINERAL RESOURCE ESTIMATE & PRELIMINARY ECONOMIC ASSESSMENT
In 2024, Thesis Gold released a Preliminary Economic Assessment (PEA) for the Lawyers-Ranch Project that significantly improved on a PEA released in 2022. The 2024 PEA considers a conventional truck and shovel open-pit mining (“OP”) operation with common equipment sizing feeding a 12,600 tonnes per day (t/d) industry standard processing plant with crushing, grinding, flotation, leaching and a Merrill Crowe recovery circuit, with production of precious metal concentrate and gold-silver doré bullion on site.
The 2024 PEA considers a crossover to underground mining (“U/G”) using longhole stoping and a small zone of drift and fill to feed up to 2,500 t/d from the Duke’s Ridge, Cliff Creek and Ranch Deposits from years 2 to 14. The 2024 PEA is based on an update of the Mineral Resource Estimate announced by the Company on the May 1, 2024, press release.
Mineral Resource Estimate
Significant Mineral Resource growth potential remains across both Lawyers and Ranch projects. The underground Mineral Resource at Lawyers is still open for expansion at depth, while Ranch Mineral Resource zones also remain open. Additionally, there are over 20 unexplored targets that hold potential for further discoveries.
Exploration in the Toodoggone Mining District began in the 1960s by prospectors drawn to the area by prominent rusty colored ridges and waterways. By the 1980s, numerous precious metal occurrences, prospects, and deposits were defined and discovered including porphyry gold-copper mineralization at Kemess, and epithermal style mineralization at Lawyers-Ranch Project.
TSX.V: TAU | WKN: A3EP87 | OTCQX: THSGF
