TDG Gold Corp. Intercepts High-Grade Gold-Silver in Shasta North & East

WHITE ROCK, BC / ACCESSWIRE / February 28, 2023 / TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to report the second set of finalized assay results from the 2022 diamond drill program completed at its former producing, mineral resource stage² Shasta gold-silver ("Au-Ag") project located in the Toodoggone District of north-central B.C. In 2022, TDG completed 20 diamond HQ, oriented drillholes totalling 5,034 metres ("m"), nine of which targeted the potential northern extension of the Shasta main deposit³ and two of which tested the potential for an eastern extension (Figure 1).

The assay results reported in this news release confirm high grade Au-Ag mineralization surrounded by medium to lower grade mineralization over broader intervals in the northern and eastern portions of the Shasta deposit. At Shasta North (Figure 2), the results suggest that target mineralization is broader than previously modelled, may extend down dip to the west and north, and remains open at depth. At Shasta East (southern end of the JM Zone; Figure 3), the results suggest the existence of a medium grade mineralized lens that extends deeper than previously modelled and appears open at depth.

Highlights include:

SH22-061: (Shasta North; Image 1): 48.0 m grading 1.29 grams per tonne ("g/t") Au and 44 g/t Ag [1.85 g/t gold equivalent ("AuEq"¹)] from 130.5 m depth

Including 4.0 m grading 9.85 g/t Au and 328 g/t Ag [13.95 g/t AuEq¹] from 141.2 m depth

SH22-062: (Shasta North): 16.0 m grading 1.02 g/t Au and 99 g/t Ag [2.26 g/t AuEq¹] from 120.0 m depth

Including 3.0 m grading 3.67 g/t Au and 366 g/t Ag [8.25 g/t AuEq¹] from 126.0 m depth

SH22-068: (Shasta East): 15.4 m grading 1.50 g/t Au and 66 g/t Ag [2.32 g/t AuEq*] from 21.5 m depth

Including 1.5 m grading 14.05 g/t Au and 634 g/t Ag [21.98 g/t AuEq¹] from 32.0 m depth

SH22-063: (Shasta North): 22.8 m grading 1.30 g/t Au and 31 g/t Ag [1.68 g/t AuEq¹] from 116.0 m depth

SH22-065: (Shasta North): 20.5 m grading 2.30 g/t Au and 25 g/t Ag [2.61 g/t AuEq¹] from 121.5 m depth

SH22-066: (Shasta North): 11.4 m grading 1.41 g/t Au and 13 g/t Ag [1.57 g/t AuEq¹] from 84.0 m depth

SH22-069: (Shasta East): 16.0 m grading 0.99 g/t Au and 2 g/t Ag [1.02 g/t AuEq¹] from 118.0 m depth

A full composite table of drill assays results contained within this news release is presented in Table 1.

Steven Kramar, TDG's VP Exploration, commented: "The nine holes were designed to confirm and upgrade confidence in mineralization at Shasta North as well as potential for down dip extensions. Once again, we hit targeted mineralization, but shallower than anticipated, and which continued deeper and further to the north than previously modelled. At Shasta East (JM Zone), the two holes we drilled were our initial test of the eastward extension potential. We encountered shallow high-grade gold as per our 2021 drilling, but importantly, we also encountered a lens of target mineralization steeply dipping to the east that appears to be open at depth.

In combination with our Shasta West drill results published February 21, 2023, our 2022 drill campaign implies that the Shasta main deposit remains open to the north and west, at depth, and potentially to the east.

We look forward to providing an updated mineral resource estimate for the Shasta main deposit which incorporates these 2022 results along with the increased gold concentrations we reported from the re-assays of our 2021 diamond drilling."

Figure 1 - 2022 Drill Collar Locations with drill trace (black lines) and > 0.1 g/t AuEq¹ samples (in red).

Image 1. Shasta drillhole SH22-061 from 141.62-144.70 m; sample, 143.2-145.2 m (downhole) grading 12.72 g/t Au and 422 g/t Ag [18.00 g/t AuEq¹].

Figure 2 - Cross Section of SH22-061/062, presenting 2022, 2021 and historical⁴ drillholes.

The Shasta North drill program was designed to test the down dip potential of the Shasta mineralization at the northern edge of the defined Shasta resource². Results were consistent with geological observations from Shasta West (see TDG news release February 21, 2023), concluding that the fine-grained ash tuff unit which precedes the Shasta Fault might be a dominant host of mineralization on the western (and northwestern) portion of the Shasta main deposit. This would also imply that: (i) the Shasta mineralized structure has a shallower dip than previously modelled suggesting that the mineralized zone is closer to surface, and (ii) the mineralization is potentially still open down dip of the current modelled extent. Furthermore, the oriented core data from drillhole SH22-061 shows nearly flat dips on a significant percentage of the veins along with E-W striking, north dipping veins - suggesting a change in the overall structural elements to the north.

Figure 3 - Cross Section of SH22-069, presenting 2022, 2021 and historical⁴ drillholes.

The Shasta East (JM) drill program was designed as an initial test of the potential for eastern extension of the JM mineralization below the historical small-scale JM pit. The results provided proof of concept as SH22-069 intersected the core of the JM Structure (generally material grading > 1.00 g/t AuEq¹) and long broad intervals of low-medium grade mineralization surrounding the higher-grade core. The results could also lead to a re-modelling of the attitude of the higher-grade core of the JM zone with a steeper dip than previously modelled (Figure 3), in addition to upgrading the internal resource blocks to reflect continuity of > 1.00 g/t AuEq¹ material from the top of the 2022 mineral resource pit to the bottom extent. Drillhole SH22-069 also indicates that the low-medium grade zone adjacent to the higher-grade core persists east, allowing for the potential to reclassify material outside of the resource area currently modeled, but inside the current pit boundary.

Table 1. Results from the 2022 Drilling.

*Intervals are core-length weighted. True width is estimated between 75-95 % of core length, and the core recovery is estimated to be > 90 %.
**Composite results were built using a 0.1 g/t AuEq cut-off, although there may be intervals within the composite below 0.1 g/t AuEq.
***Calculated composites are truncated to significant 2 digits for Au/AuEq and the nearest whole number for Ag.

The drillholes encountering the high-grade mineralization are hosted within a package of epiclastic ro