Gold stocks’ autumn rally 2024
The gold miners’ stocks are enjoying a strong summer, recently surging to new bull highs.
Vancouver-based Tasca Resources (TSX.V:TAC) expanded its New Princeton Gold discovery area in British Columbia to 14,650 hectares by completing a staking program of 10,637 hectares surrounding the project.
In a media statement, the company said the expansion made sense following a recent gold discovery from the bedrock trenching.
Tasca explained that 51 bedrock samples and five float samples were taken and submitted to the ALS Minerals Laboratory for AuME TL-43 analysis with an upper limit of 1 g/t gold. The lab results showed that 17 of the 56 samples returned value in excess of 1 g/t gold. Thus, the samples had to be analyzed with procedure Au-AROR43 with an upper limit of 100 g/t gold. At the same time, three samples returned values in excess of 100 g/t gold, with a fourth sample reporting at 100 g/t gold.
The Princeton gold property lies 35 kilometres south of Princeton, British Columbia and 11 kilometers south of the producing Copper Mountain copper mine. According to Tasca, a 2011 grid soil sampling survey indicated the site’s Area 2 hosts multiple, linear, parallel gold-in-soil anomalies with the strongest anomaly striking a minimum of 500 metres to a maximum of 650 metres in a northwestern direction.
Besides this expansion, last week the miner announced the acquisition of the Selish Mountain property, a 290-hectare block 15 kilometres southwest of Merritt, B.C., and 10 kilometres to the north of Westhaven Ventures Inc.’s Shovelnose gold property. Tasca believes historic exploration at the mine was focused on copper and, thus, management now wants to look for gold.
