KAMLOOPS, BRITISH COLUMBIA--(CCNMatthews - July 26, 2006) - Cassidy Gold Corp. (TSX VENTURE:CDY) is pleased to announce results from ongoing reverse circulation (RC) on its 100%-owned Kouroussa Project, located in Guinea, West Africa. A series of 14 RC holes totalling 1502 metres continues to define the KD-1 Zone and an additional 9 RC holes totalling 770 metres continues to define mineralization on the east side of the Sanu Folo zone. Highlights from KD-1 Zone include 7.46 g/t Au over 32.0 metres in KRC975, 16.11 g/t Au over 11.0 metres in KRC973, and 2.79 g/t Au over 16.0 metres in KRC972. At Sanu Folo, highlights include 26.69 g/t Au over 5.0 metres in KRC984 and 3.55 g/t Au over 7.0 metres in KRC981. True thicknesses are approximately 65% of the reported sample lengths.
KD-1 Zone
KD-1 Zone is a northwest-trending zone of quartz veining and silicification 250 metres northeast of JJ and the east end of Sanu Folo, and 650 metres northeast of Sanu Filanan. Previous drilling including 11 RC holes (see Cassidy Gold News Release - November 23, 2005), 9 diamond drill holes, and a series of shallow "kit bit" RC holes across and adjacent to the mineralized trend, indicated the presence of significant near-surface gold mineralization. The recently completed program tested KD-1 along 400 metres of strike at a nominal 40 metres drill spacing. An updated drill hole location map will be posted at www.cassidygold.com shortly.
Recent drilling was very successful in connecting KD-1 mineralization over almost 550 metres of strike length. Best results occur toward the south where KRC976 intersected 2.26 g/t Au over 5.0 metres, KRC975 hit 7.46 g/t Au over 32.0 metres, and KRC974 hit 1.15 g/t over 15.0 metres. North 40 metres, KRC973 intersected 16.11 g/t Au over 11.0 metres and KRC972 hit 2.79 g/t Au over 16.0 metres. Another 80 metres north, KRC970 intersected 1.35 g/t Au over 6.0 metres and 0.81 g/t Au over 8.0 metres, and KRC969 intersected 0.73 g/t Au over 24.0 metres. KRC971 intersected 3.37 g/t Au over 8.0 metres 50 metres west of the main mineralized trend.
KRC967 and KRC968 stepped 120 metres north of KRC969 and 60 metres north of KRC222 (10.35 g/t Au over 13.0 metres) and 40 metres south of KRC203 (12.99 g/t Au over 8.0 metres), intersecting 16.4 g/t Au over 1.0 metres. Another 80 metres further north, KRC965 intersected 1.58 g/t Au over 4.0 metres and 0.69 g/t Au over 6.0 metres. Finally, 80 metres further north, KRC963 intersected 0.60 g/t Au over 10.0 metres and KRC964 hit 1.50 g/t Au over 2.0 metres (see Table 1).
Table 1 KD-1 Zone - RC Drill Assay Results ----------------------------------------------- Hole ID From (m) To (m) Length (m) Au (g/t) ----------------------------------------------- KRC963 21.0 23.0 2.0 1.74 ----------------------------------------------- and 53.0 63.0 10.0 0.60 ----------------------------------------------- KRC964 114.0 116.0 2.0 1.50 ----------------------------------------------- KRC965 19.0 25.0 6.0 0.69 ----------------------------------------------- and 38.0 42.0 4.0 1.58 ----------------------------------------------- KRC967 10.0 11.0 1.0 2.12 ----------------------------------------------- and 87.0 89.0 2.0 2.05 ----------------------------------------------- KRC968 65.0 66.0 1.0 16.40 ----------------------------------------------- KRC969 33.0 57.0 24.0 0.73 ----------------------------------------------- and 78.0 83.0 5.0 0.70 ----------------------------------------------- and 107.0 108.0 1.0 1.32 ----------------------------------------------- KRC970 64.0 70.0 6.0 1.35 ----------------------------------------------- and 83.0 87.0 4.0 1.39 ----------------------------------------------- and 92.0 100.0 8.0 0.81 ----------------------------------------------- and 110.0 111.0 1.0 3.13 ----------------------------------------------- and 117.0 120.0 3.0 0.96 ----------------------------------------------- and 124.0 125.0 1.0 1.63 ----------------------------------------------- KRC971 70.0 78.0 8.0 3.37 ----------------------------------------------- and 84.0 85.0 1.0 2.25 ----------------------------------------------- and 105.0 106.0 1.0 1.50 ----------------------------------------------- KRC972 24.0 25.0 1.0 1.20 ----------------------------------------------- and 34.0 35.0 1.0 0.82 ----------------------------------------------- and 62.0 63.0 1.0 1.20 ----------------------------------------------- and 69.0 71.0 2.0 1.77 ----------------------------------------------- KRC972 76.0 92.0 16.0 2.79 ----------------------------------------------- KRC973 4.0 12.0 8.0 1.39 ----------------------------------------------- and 32.0 43.0 11.0 16.11 ----------------------------------------------- and 49.0 50.0 1.0 1.65 ----------------------------------------------- and 58.0 59.0 1.0 1.81 ----------------------------------------------- KRC974 4.0 19.0 15.0 1.15 ----------------------------------------------- and 28.0 34.0 6.0 0.61 ----------------------------------------------- KRC975 4.0 5.0 1.0 1.05 ----------------------------------------------- and 38.0 70.0 32.0 7.46 ----------------------------------------------- KRC976 37.0 39.0 2.0 2.11 ----------------------------------------------- and 107.0 112.0 5.0 2.26 -----------------------------------------------
Sanu Folo
The latest stage of RC drilling at Sanu Folo focussed on infilling the east side adjacent to and connecting with the JJ Zone. Sanu Folo consists of a series of sub-parallel, east-west trending, near-surface, gold-bearing quartz veins and silicified zones. RC holes are arranged on north-south fences spaced 40 metres apart. An updated drill hole location map will be posted at www.cassidygold.com shortly.
KRC977 and KRC978 were collared immediately adjacent to the JJ Zone, intersecting 1.39 g/t Au over 5.0 metres and 1.86 g/t Au over 4.0 metres, respectively less than 50 metres west of JJ. Forty metres west, KRC979 intersected 1.93 g/t Au over 3.0 metres and KRC980 hit 1.07 g/t Au over 7.0 metres. KRC981, 80 metres west of KRC979, intersected 3.55 g/t Au over 7.0 metres. KRC 984, another 80 metres to the west, intersected 26.69 g/t Au over 5.0 metres, including 75.0 g/t Au over 1.0 metre, where the east-trending Sanu Folo structure bends to the southeast, toward JJ.
Table 2 Sanu Folo Zone - RC Drill Assay Results ----------------------------------------------- Hole ID From (m) To (m) Length (m) Au (g/t) ----------------------------------------------- KRC977 58.0 63.0 5.0 1.39 ----------------------------------------------- and 71.0 72.0 1.0 2.25 ----------------------------------------------- KRC978 35.0 36.0 1.0 16.00 ----------------------------------------------- and 81.0 85.0 4.0 1.86 ----------------------------------------------- and 92.0 97.0 5.0 0.71 ----------------------------------------------- KRC979 34.0 37.0 3.0 1.93 ----------------------------------------------- KRC980 60.0 61.0 1.0 4.14 ----------------------------------------------- and 69.0 76.0 7.0 1.07 ----------------------------------------------- KRC981 62.0 69.0 7.0 3.55 ----------------------------------------------- KRC983 7.0 10.0 3.0 1.74 ----------------------------------------------- and 49.0 50.0 1.0 2.37 ----------------------------------------------- KRC984 87.0 92.0 5.0 26.69 ----------------------------------------------- and 103.0 104.0 1.0 4.60 -----------------------------------------------
Exploration Program
Drilling was completed on July 15th for the remainder of the wet season. Results have been compiled, interpreted, and used to model the various deposits at Kouroussa. RSG Global of Perth, Australia will be calculating an updated gold resource for the project and issuing a technical report in accordance with NI 43-101 guidelines. The resource study is expected to be completed in September.
Plans have been drawn up for the next stage of resource drilling at Kinkine, Sanu Filanan, Sanu Folo, JJ, KD-1, and West Plateau. RC drilling is also planned for Dalaoule, Banjounani, Manie, Kinkine-Daouda, X-Vein, Junction, and Bag Farm (Sodyanfe). Further regional-scale exploration is planned for Kouroussa North (Karikarissa), Kouroussa West, Tambiko, and the Kinkine Trend. Mobilization is planned for late September.
Sampling and Assay Procedures
RC drill samples were collected from the cyclone and split or pipe sampled to 1 kilogram size. All samples were sent to the SGS analytical laboratory in Siguiri, Guinea for fire assay using a 50-gram sub sample. Samples assaying greater than 5 g/t gold are reassayed using a metallics screen technique. Repeat assays are made on every 25th sample, and duplicates and blanks are submitted, one each in every 20 samples. Quality control/quality assurance is closely monitored by RSG Global personnel.
Personnel
Project Manager Nick Hewson of RSG Global heads the exploration team in Guinea. Christopher J. Wild, P.Eng, VP Exploration for Cassidy Gold Corp, is the Qualified Person for this release.
On behalf of the Board of Directors
Cassidy Gold Corp.
James T. Gillis, President & CEO
This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at www.sedar.com.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Cassidy Gold Corp.
Jim Gillis
President
(250) 372-8222
(250) 828-2269 (FAX)
cassidygold@telus.net
www.cassidygold.com
