TDG Gold Reports Gold-Silver Results From Historical Tailings At Baker, Toodoggone, BC

WHITE ROCK, BC / ACCESSWIRE / November 12, 2024 / TDG Gold Corp (TSXV:TDG, Financial) (the "Company" or "TDG") today reported assay results from the Phase 1 drilling of the main Tailings Storage Facility ("TSF1") located adjacent to the Baker Mill. TSF1 is reported to contain ~265,000 metric tonnes ("MT") of wet tailings from historical production at the former high-grade gold-silver ("Au-Ag") Baker and Shasta mines between 1981-2012¹. TDG completed 15 boreholes in TSF1 seeking environmental, geotechnical and geological data.

Highlights Include:

• Aggregate length-weighted average grade of all tailings material sampled (Table 1) of 1.00 grams per tonne ("g/t") Au, 46 g/t Ag [1.57 g/t gold equivalent ("AuEq"²)]

• Two distinct strata identified within TSF1 (Figure 1) with higher grade material at the base (e.g., TSF24-010 reporting 3.5 m of 1.92 g/t Au and 82 g/t Ag [2.95 g/t AuEq²] (Table 1) overlain by more typical, moderate grade material

• Au-Ag grades and calculated TSF1 volumes are in line with historical reported production records and recoveries¹

Figure 1. Baker Schematic TSF Section with: (i) Foundation/Berm in light blue, (ii) Interpreted ‘High-Grade Tailings Material' in red, (iii) Interpreted ‘Tailings Material' in yellow

A second, smaller TSF ("TSF2") reportedly received ~50,000 MT of wet tailings material from the final years of the Shasta production¹ may be analysed in subsequent work phases. Both TSFs at Baker are located within the Baker-Shasta Permitted Mine Area proximal (~ 600 m) to the Baker mill and other existing infrastructure, including the major mining road that connects the district (Figure 2).

Steven Kramar, TDG's VP Exploration, commented: "The Phase 1 assay results from TSF1 merit follow up to evaluate the remainder of TSF1 and all of TSF2 to determine the potential for reprocessing and relocation of the historical tailings as part of TDG's ongoing commitment to clean-up and remediation of the historical mining that took place at Baker-Shasta."

Options for Future Tailings Storage

In summer 2024, TDG also commissioned a review of the dry-stack tailings storage capacity within the footprint of the Permitted Mine Area and TDG's surrounding mineral tenure. Preliminary work by independent consultants has identified possible locations for potential dry-stack tailings storage with capacity sufficient for the entire current Shasta mineral resource (see news release May 1, 2023 for details of the mineral resource)³ such to be supported by future studies.

Figure 2. Map of the Baker TSFs and Borehole locations relative to existing Infrastructure.

Table 1. Composite Assay Results from Baker TSF Drilling 2024.

* Intervals are length weighted. True width is estimated between ~ >99% % of length; recovery is estimated to be > 90 %

** Composite result was calculated using 0.5 g/t AuEq² cut-off, but there may be intervals within the composite below 0.5 g/t AuEq².

*** Calculated composites are truncated to two significant decimal places for Au and the nearest integer for Ag.

**** Calculated composite may not sum due to rounding.

***** ‘Aggregate' results are a summation of metres. It is an uncut and uncapped length weighted composite.

2024 TSF Investigation

Based on initial interpretations from geological observations and geochemical analysis, the tailings material in TSF1 can be divided into three parts (Figure 3): (i) the ‘Tailings Material' comprising the majority of the tailings from 1989-2012 (shown in gold), (ii) the interpreted ‘High-Grade Tailings Material' deeper into the TSF1 pile from 1981-1983 (shown in red) and (iii) the foundation material at the base of the TSF (shown in grey). Potential metallurgical recoveries for the tailings have not been determined but will be evaluated in future studies.

‘Tailings Material'

Tailings Material consists of mill tails from production start in ~1989 until ultimate final closure of the mill in 2012¹ (~80 % of the tailings that reported¹ to TSF1). This material has an aggregate length weighted grade of 0.81 g/t Au and 40 g/t Ag [1.32 g/t AuEq²], which is similar grade to TDG's estimate of the mineral resources "MRE"³) at Shasta (news release May 1, 2023 for details of the MRE³). The material can be described as sand dominant with centimetre ("cm") scale laminations of darker silty material. Overall, sulphide mineral content is estimated to be less than 5 %.

‘High-Grade Tailings Material'

The Higher-Grade Tailings Material is interpreted from the earliest generation of mining the Baker A-Vein (1981-1983) and is thought to coincide with higher head grades to the mill (> 30 g/t Au¹) and moderate recovery from the start of mining operations¹. This strata accounts for ~20 % of the tailings that reported¹ to TSF1 and, based on the holes interpreted to intersect this material, has an aggregate length weighted average grade of 1.61 g/t Au and 66 g/t Ag [2.43 g/t AuEq²] (Table 1), which is significantly higher than TDG's estimate of the MRE³ at Shasta. The material can be described as silt-dominant, with intercalated layers of sandy material. Sulphide mineral content is generally ~5 % or greater.

‘Foundation Material'

The base of the TSF impoundment appears to be a mixture of coarse rocks and gravel. Follow-up work is necessary to investigate the potential of concentration of precious metals at the base or into the foundation material due to the ‘placer effect' of gravity.

Figure 3. TSF24-10 with: (i) Interpreted ‘Tailings Material' in gold, (ii) Interpreted High-Grade Tailings material in red, (iii) Interpreted Foundation material in grey

QA/QC

Samples for the Baker TSF drill program were handled via rigorous chain of custody, including sample collection, processing, and delivery to the Bureau Veritas ("BV") in Vancouver, B.C. The material was logged, photographed, and sampled at TDG's Baker Mine site and processed by geologists and technicians. Quality assurance and control ("QAQC") materials were inserted into the sampling sequence during geological sample selection. The material selected for sampling was placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly by TDG staff from the Baker mine site to Bandstra Transportation Systems in Prince George, ultimately to the BV facility in Vancouver, B.C. Samples were prepared and analyzed following procedures: PRP90-250 for sample preparation, FAS430 for Au and AQ251 for Ag and trace elements. Overlimit concentrations (> 100 ppm Ag) of precious metals will be analyzed (where applicable) by MA401. Information about methodology can be found on the BV Labs website, in the analytical guide (here).

QAQC is maintained internally at the lab through rigorous use of internal certified reference materials ("CRMs"), blanks, and duplicates. An additional QAQC program was administered by TDG through the verification of lab results via use of CRMs and blank (unmineralized) samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Table 2 presents the particulars for the boreholes in this news release. During the sampling process, material was consumed in entirety. The collar location was located using Global Positioning System ("GPS") using hand-held systems.

Table 2. Borehole Collar Information.

Qualified Person

The technical content of this news release has been reviewed and approved Steven Kramar, MSc., P.Geo., Vice President, Exploration for TDG., a qualified person as defined by National Instrument 43-101.

¹Historical Data: This news release includes historical information that has been reviewed by TDG's qualified person (QP). TDG's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, TDG cannot directly verify the accuracy of the historical data, including (but not limited to) the procedures used for sample collection and analysis. Therefore, any conclusions or interpretations borne from use of this data should be considered too speculative to suggest that additional exploration will result in mineral resource delineation. TDG encourages readers to exercise appropriate caution when evaluating these data and/or results.

²GoldEquivalent (AuEq): Gold Equivalent (AuEq) is used for illustrative purposes, to express the combined value of Au and Ag as a percentage of Au on an in-situ basis. Calculations are uncut and recovery is assumed to be 94.8% for Au and 77.2% for Ag, with an Au price of US$1,800/oz and an Ag price of US$20/oz (based on price of gold trends over the past approximately three years), giving a resulting AuEq equation: AuEq = Au + Ag*0.008. Actual prices and recoveries (following metallurgical test work) may differ from these assumptions, which would change the ratio.

³Mineral Resource Estimate (MRE): All scientific and technical information relating to the TDG's Shasta Project pertaining to the Mineral Resource Estimate ("Shasta MRE") contained in this news release is derived from the Technical Report dated June 14, 2023 (with an effective date of February 11, 2023) titled "The Toodoggone Portfolio and the 2023 Resource Estimate for the Shasta Deposit" (the "2023 Technical Report") prepared by Sue Bird, MSc., P.Eng. of Moose Mountain Technical Services. The information contained herein in respect of the Shasta MRE is subject to all of the assumptions, qualifications and procedures set out in the 2023 Technical Report and reference should be made to the full text of the 2023 Technical Report, a copy of which has been filed with the securities regulators in each of the provinces of Canada (except Québec) and is available on https://www.sedarplus.ca/.

About TDG Gold Corp.

TDG is a major mineral tenure holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 32,000 hectares of brownfield and greenfield exploration opportunities under direct ownership. TDG's flagship projects are the former producing, high-grade gold-silver Shasta and Baker mines, which produced intermittently between 1981-2012, and the historical high-grade gold Mets developed prospect, all of which are road accessible, and combined have over 65,000 m of historical drilling. The projects have been advanced through compilation of historical data, new geological mapping, geochemical and geophysical surveys and, at Shasta, 13,250 m of modern HQ drill testing of the known mineralization occurrences and their potential extensions. In May 2023, TDG published an updated Mineral Resource Estimate for Shasta (news release May 01, 2023) which remains open at depth and along strike. In January 2023, TDG defined a larger exploration target area adjacent to Shasta (‘Greater Shasta-Newberry'; news release Jan 25, 2023). In Fall 2023, TDG published the first modern drill results from the Mets mining lease (news releases Sep 07, 2023, Sep 11, 2023 and Nov 28, 2023). In early 2024, TDG identified new copper-gold target areas over an expanded footprint covering ~53 sq.km known as the ‘Baker Complex' (news release Feb 28, 2024).

ON BEHALF OF THE BOARD

Fletcher Morgan
Chief Executive Officer

For further information contact:

TDG Gold Corp.
Telephone: +1.604.536.2711
Email: [email protected]

Neither 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 release.

Forward Looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as, "Interpret", "subsequent", "merit", "evaluate", "possible", "significant", "potential", "suggest", "similar", "necessary", "investigate", "sufficient", and variations of these words as well as other similar words or statements that certain events or conditions "could", "may", "should", "would" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: whether the holes completed to date are representative of the balance of the untested tailings; whether the high-grade tailings layer has continuity; what recoveries are applicable to the tailings material; whether or not the tailings material is economically viable either as a source of mill feed or warrants reprocessing as part of a new mining operation; whether any options are permittable; whether the potential dry-stack tailings locations are confirmed as viable and are permittable; whether any future studies demonstrate economic viability for some or all of the Shasta mineral resource; whether mine development and production permits are granted for a new operation based on the Shasta mineral resource and whether such could be permitted and financed and, if so, on acceptable terms and conditions; the timing and availability of funding to support such activities; accidents, labour disputes and other risks common to the mining industry; the availability of sufficient funding on terms acceptable to the Company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE: TDG Gold Corp.