(MENAFN- Newsfile Corp)
Flin Flon, Manitoba--(Newsfile Corp. - June 10, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce ongoing drill results from its Phase 4 drill program at the 100%-owned Tartan Mine, near Flin Flon, Manitoba. Results contained in this news release are from the South Zone, which is parallel to the Main Zone (Fig. 1, 2 & 3), and prior to the recent drilling, was planned as a supplemental source of potential ore for future production. However, our objective has been to expand the resource in this area to 1) increase the number of ounces per vertical metre, 2) allow for higher production in a potential mine restart, and 3) drive economies of scale in order to lower future production and development costs. Recent expansion results from the South Zone, which increased the vertical extent of the mineralization by 120%, included 9.4 gpt gold over 3.3 metres and 6.1 gpt gold over 6.0 metres. "Today's results continue to build on the potential we see emerging at the South Zone. Despite the ongoing forest fire evacuation orders of Flin Flon and the surrounding region, including Tartan, our geology team, working diligently offsite, were able to get these encouraging drill results completed. Significant rainfall and cooler temperatures in the region over recent days have helped the firefighting crews and reduced the scope of the forest fires. We eagerly await the 'all clear' from the Province of Manitoba to be able to get back on site and resume the Phase 4 drill program." - Michael Swistun, CFA, President & CEO
Drilling Highlights:
Hole TLSZ25-35 intersected two separate high-grade gold zones, returning 12.9 gpt gold over 3.0 metres and 7.6 gpt gold over 5.8 metres , both occurring within broader zones of 3.7 gpt gold over 23.0 metres and 3.3 gpt gold over 17.2 metres , respectively.
Similar to the Main Zone's lower grade material, the Company will be evaluating how best to mine and process this material within the potential mine life to best maximize the financial returns of the project. The identification of two distinct zones opens a new target for exploration not previously known at the South Zone.
This development could materially increase the South Zone's total ounces per vertical metre, enhancing project economics and supporting a larger-scale restart scenario at the Tartan Mine.
These intersections occur in separate intervals within the same hole, confirming the presence of two discrete zones of gold mineralization between 345 and 376 metres below surface, a new geological development not previously observed at the South Zone.
Forest Fire Update
On May 28, 2025, the Company temporarily suspended drilling at the Tartan Mine due to safety concerns related to the forest fires near Flin Flon. The Company will announce when it is safe to resume drilling.
Table 1. Drilling Assay Highlights
| Drill Hole | From
(metres) | To
(metres) | Interval 1
(metres) | Depth Below Surface
(metres) | Gold Grade
(gpt) | Zone 2 |
| TLSZ25-34 | 463.00 | 464.00 | 1.00 | 403 | 12.3 | SZ |
| TLSZ25-35 | 210.00 | 214.00 | 4.00 | 172 | 4.4 | HWZ |
| Including | 212.00 | 213.00 | 1.00 | 10.9 |
| And | 410.20 | 427.40 | 17.20 | 345 | 3.3 | SZ |
| Including | 410.20 | 416.00 | 5.80 | 7.6 |
| Including | 415.00 | 416.00 | 1.00 | 26.2 |
| And | 450.00 | 473.00 | 23.00 | 376 | 3.7 |
| Including | 457.00 | 460.00 | 3.00 | 12.9 |
| Including | 457.00 | 458.00 | 1.00 | 21.0 |
| And including | 467.00 | 470.00 | 3.00 | 385 | 5.7 |
| TLSZ25-37 | 167.00 | 169.00 | 2.00 |
| 4.3 | SZ |
| Including | 168.00 | 169.00 | 1.00 |
| 7.0 |
| And | 172.00 | 175.50 | 3.50 |
| 3.0 |
| Including | 174.50 | 175.50 | 1.00 |
| 5.9 |
| 1Interval widths reported; true widths of the system are not yet known due to lack of drilling.2 SZ and HWZ refers to the South Zone and Hanging Wall Zone. |
Table 2. Details of Drill Holes Reported in This News Release
| Drill Hole | Azimuth
(Degrees) | Dip
(Degrees) | Length
(metres) | Easting (UTM) | Northing (UTM) |
| TLSZ25-33W1 | 002 | -66 | 686 | 324852 | 6081843 |
| TLSZ25-33W2 | 002 | -66 | 686 | 324852 | 6081843 |
| TLSZ25-34 | 358 | -61 | 557 | 324851 | 6081848 |
| TLSZ25-35 | 002 | -57 | 503 | 324881 | 6081867 |
| TLSZ25-36 | 002 | -54 | 599 | 324919 | 6081839 |
| TLSZ25-37 | 359 | -50 | 239 | 324784 | 6081959 |
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