KAMLOOPS, BRITISH COLUMBIA--(Marketwire - March 19, 2008) - Cassidy Gold Corp. (TSX VENTURE:CDY) is pleased to announce results from reverse circulation (RC) drilling on its 100%-owned Kouroussa Gold Project, located in Guinea, West Africa. Drilling is focused on the Junction, Bag Farm and Ridge zones in Sodyanfe area. This release reports the initial 48 holes (5198m) of the 88 holes (9488m) completed as of March 16th. Highlights include 4.87 g/t Au over 42.0 metres in KRC1432 and 2.52 g/t Au over 20.0 metres in KRC1430 at Junction, and 1.03 g/t Au over 27.0 metres in KRC1458 at the Ridge zone. True thicknesses are estimated to be 90-95% of reported intervals for Junction and Bag Farm but are not known for the Ridge zone. These results show the continuity of potentially economic mineralization over a 1.5 kilometre strike length, extending to at least 75 metres depth.
Junction Zone
Of the 21 holes drilled on Junction, 11 tested the mineralized zone 25-40 metres down dip of previous drilling (see Cassidy Gold News Release - July 31, 2007), and 10 tested identified splays off the Junction fault structure, adjacent to the Junction zone. Highlights are presented in Table 1. KRC1429 - 1436 and 1441 - 1443 were very successful in extending Junction to depth and at elevated grades compared to previous holes in the area. KRC1445 - 1450 discovered a sub parallel zone of mineralization, less than 200 metres east of Junction.
Table 1 Junction Zone ---------------------------------------------------------------------- Hole ID From (m) To (m) Length (m) Au (g/t) ---------------------------------------------------------------------- KRC1429 57.0 75.0 18.0 2.52 ---------------------------------------------------------------------- KRC1430 6.0 11.0 5.0 0.53 ---------------------------------------------------------------------- and 51.0 52.0 1.0 4.76 ---------------------------------------------------------------------- and 56.0 76.0 20.0 2.52 ---------------------------------------------------------------------- KRC1431 10.0 15.0 5.0 0.57 ---------------------------------------------------------------------- and 47.0 48.0 1.0 1.27 ---------------------------------------------------------------------- and 52.0 56.0 4.0 1.30 ---------------------------------------------------------------------- and 61.0 85.0 24.0 1.39 ---------------------------------------------------------------------- KRC1432 55.0 97.0 42.0 4.87 ---------------------------------------------------------------------- and 102.0 109.0 7.0 0.75 ---------------------------------------------------------------------- KRC1433 63.0 65.0 2.0 0.77 ---------------------------------------------------------------------- and 70.0 92.0 22.0 1.45 ---------------------------------------------------------------------- KRC1434 9.0 13.0 4.0 0.66 ---------------------------------------------------------------------- and 72.0 82.0 10.0 0.95 ---------------------------------------------------------------------- and 86.0 95.0 9.0 2.26 ---------------------------------------------------------------------- KRC1435 90.0 104.0 14.0 1.72 ---------------------------------------------------------------------- KRC1436 100.0 116.0 16.0 0.79 ---------------------------------------------------------------------- KRC1441 110.0 121.0 11.0 1.03 ---------------------------------------------------------------------- KRC1442 111.0 120.0 9.0 0.65 ---------------------------------------------------------------------- KRC1445 6.0 23.0 17.0 1.01 ---------------------------------------------------------------------- KRC1446 68.0 77.0 9.0 0.51 ---------------------------------------------------------------------- KRC1447 22.0 34.0 12.0 0.76 ---------------------------------------------------------------------- KRC1450 21.0 27.0 6.0 0.91 ----------------------------------------------------------------------
Mineralization is located close to surface, hosted in fine-grained Birimian sedimentary rocks immediately above a mafic volcanic unit. Mineralization occurs in stacked lenses striking northeast southwest and dipping moderately to the southeast. Updated location maps will be posted on www.cassidygold.com shortly.
The Junction deposit consists of near surface, potentially open-pittable, mainly oxide mineralization. In October 2007, Coffey Mining (formerly RSG Global Consulting), estimated an Indicated Resource of 22,000 ounces of gold in 658,000 tonnes grading 1.1 g/t Au and an additional Inferred Resource of 49,000 ounces in 1,377,000 tonnes also grading 1.1 g/t Au.
Bag Farm Zone
Eighteen holes were drilled on 6 sections spaced at 40 metres between the Junction Zone to the north and the Bag Farm Zone to the south. One hole, KRC1444, tested the eastern side of the southern Bag Farm. Results confirm that Bag Farm mineralization extends to, and is likely continuous with, the Junction zone. However, Junction is more uniform and predictable than Bag Farm and the latter's orientation is more northerly.
Table 2 Bag Farm Zone ---------------------------------------------------------------------- Hole ID From (m) To (m) Length (m) Au (g/t) ---------------------------------------------------------------------- KRC1411 1.0 9.0 8.0 0.68 ---------------------------------------------------------------------- and 100.0 103.0 3.0 2.75 ---------------------------------------------------------------------- KRC1412 6.0 13.0 7.0 1.36 ---------------------------------------------------------------------- KRC1413 2.0 3.0 1.0 2.21 ---------------------------------------------------------------------- and 71.0 75.0 4.0 0.56 ---------------------------------------------------------------------- KRC1414 32.0 36.0 4.0 0.56 ---------------------------------------------------------------------- and 45.0 48.0 3.0 1.14 ---------------------------------------------------------------------- KRC1415 8.0 10.0 2.0 0.82 ---------------------------------------------------------------------- KRC1416 9.0 13.0 4.0 0.63 ---------------------------------------------------------------------- KRC1417 8.0 10.0 2.0 0.71 ---------------------------------------------------------------------- and 27.0 30.0 3.0 0.93 ---------------------------------------------------------------------- KRC1418 44.0 45.0 1.0 3.48 ---------------------------------------------------------------------- KRC1419 67.0 69.0 2.0 1.08 ---------------------------------------------------------------------- and 83.0 84.0 1.0 1.05 ---------------------------------------------------------------------- KRC1420 25.0 27.0 2.0 0.84 ---------------------------------------------------------------------- and 31.0 40.0 9.0 1.11 ---------------------------------------------------------------------- and 80.0 82.0 2.0 0.70 ---------------------------------------------------------------------- KRC1421 5.0 18.0 13.0 0.68 ---------------------------------------------------------------------- and 34.0 36.0 2.0 1.08 ---------------------------------------------------------------------- and 41.0 44.0 3.0 1.03 ---------------------------------------------------------------------- and 73.0 76.0 3.0 1.01 ---------------------------------------------------------------------- KRC1423 14.0 17.0 3.0 0.71 ---------------------------------------------------------------------- and 33.0 44.0 11.0 0.68 ---------------------------------------------------------------------- KRC1424 62.0 66.0 4.0 1.45 ---------------------------------------------------------------------- KRC1425 42.0 49.0 7.0 0.65 ---------------------------------------------------------------------- KRC1426 1.0 13.0 12.0 0.99 ---------------------------------------------------------------------- and 23.0 30.0 7.0 1.22 ---------------------------------------------------------------------- and 35.0 41.0 6.0 1.25 ---------------------------------------------------------------------- KRC1427 9.0 16.0 7.0 0.53 ---------------------------------------------------------------------- KRC1428 6.0 17.0 11.0 0.87 ---------------------------------------------------------------------- KRC1444 128.0 129.0 1.0 1.36 ----------------------------------------------------------------------
The Bag Farm deposit consists of near surface, potentially open-pittable, mainly oxide mineralization. In October 2007, Coffey Mining estimated an indicated resource of 9,000 ounces of gold in 292,000 tonnes grading 0.9 g/t Au and an additional inferred resource of 7,000 ounces in 151,000 tonnes grading 1.5 g/t Au.
Ridge Zone
Seven holes were drilled along a prominent north-trending ridge at Sodyanfe, dubbed the Ridge Zone based on earlier favourable results. These holes were drilled to allow more complete modelling of the mineralization along the ridge. Preliminary examination of the results suggests that structural controls may be related to the southwest-trending Junction Fault rather than the north-trending ridge structure. Six holes on 2 sections have just been completed to test the projected Junction Fault at the Ridge zone.
Table 3 Ridge Zone ---------------------------------------------------------------------- Hole ID From (m) To (m) Length (m) Au (g/t) ---------------------------------------------------------------------- KRC1452 29.0 31.0 2.0 2.27 ---------------------------------------------------------------------- and 85.0 88.0 3.0 1.03 ---------------------------------------------------------------------- and 94.0 101.0 7.0 0.63 ---------------------------------------------------------------------- KRC1454 4.0 9.0 5.0 0.78 ---------------------------------------------------------------------- and 31.0 34.0 3.0 1.20 ---------------------------------------------------------------------- and 49.0 52.0 3.0 4.07 ---------------------------------------------------------------------- KRC1458 5.0 9.0 4.0 0.60 ---------------------------------------------------------------------- and 14.0 17.0 3.0 0.75 ---------------------------------------------------------------------- and 24.0 51.0 27.0 1.03 ---------------------------------------------------------------------- and 56.0 68.0 12.0 0.69 ----------------------------------------------------------------------
Exploration Program
One RC drill continues to drill out the Sodyanfe area deposits. Since drilling resumed in November 2007 after the wet season, 88 drill holes have been completed totalling 9488 metres. Drilling is currently proceeding at the Sidafa Hill target, 1.5 km northeast of Junction.
Sampling and Assay Procedures
RC drill samples were collected from the cyclone and split using a 1 in 8 riffle splitter down to approximately 2.5kg in size. All samples were sent to the SGS analytical laboratory in Siguiri, Guinea for further sample preparation and fire assay using a 50-gram sub sample. Along with SGS internal quality control procedures, external field duplicates, blanks and certified standards are undertaken over 5% of all sampling. Quality control/quality assurance is closely monitored by Coffey Mining personnel.
Personnel
Supervising Geologist Daniel Wilson of Coffey Mining 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)
Email: info@cassidygold.com
Website: www.cassidygold.com
