BC Gold Explorer Increases MRE and Investment for Flagship Property

1. Paul Moreau wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
2.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

Cassiar Gold Corp. (GLDC:TSX.V; CGLCF:OTCQX; 756:FRA), a Canadian gold exploration company, announced a significant increase to the mineral resource estimate (MRE) for its NI 43-101-compliant Taurus gold deposit on June 12, located at its 100%-owned flagship Cassiar Gold Property in northern British Columbia, Canada. The resource excludes mineralized areas at the Cassiar South project area, which, together with Cassiar North (Taurus), comprises this overall district-scale operation.

The company also notified the market on June 2025 that it had arranged for a non-brokered private placement for gross proceeds of CA$5M to support continuing and future exploration and drill programs at Cassiar North. The closing is expected to take place on or before July 10.

The updated MRE includes an Indicated Mineral Resource of 8.8 Mt at 1.43 grams per tonne gold (g/t Au) for 410,000 ounces of gold, with an additional Inferred Mineral Resource of 63.2 Mt at 0.95 g/t Au for 1.93 million ounces of gold, using a 0.4 g/t AU cut-off grade.

This represents a significant increase from the previous resource estimate at a comparable 0.5 g/t Au cutoff grade, with the updated resource comprising 0.38 Moz at 1.66 g/t Au (Indicated) and 1.71 Moz at 1.11 g/t Au (Inferred). Compared to the 2022 Inferred Resource of 1.4 Moz at 1.14 g/t Au, this is substantial.

"Thanks to the hard work and tireless efforts of our technical team, advisors, directors, and contractors, the new MRE marks another key milestone for the Cassiar Gold Project through the addition of a higher grade indicated category and a larger inferred resource," stated Marco Roque, President and CEO of Cassiar Gold, in the June 12 release.

The pit-constrained MRE for the Taurus Deposit area and pending supporting technical report for the Property (to be filed on SEDAR within 45 days of the MRE announcement), incorporate results from 46,389 m of diamond drilling completed across the property since the previous MRE, as well as other exploration activities completed at the Cassiar Gold project in 2022 through 2024.

The release also reports that the updated MRE extends from surface to a maximum pit depth of 307 m, with 48% of the resource occurring within 50 m of surface, 81% occurring within 100 m of surface, and 91% occurring within 150 m of surface.

"We view this update positively as the company continues to grow its Taurus resource," wrote Red Cloud analyst Alina Islam.

As a result, the company notes that this resource holds strong potential for expansion in most directions, with several areas of mineralization identified beyond the extent of the current pit shell model and sparse drill data between mineralized areas

The conversion of a substantial portion of the MRE to Indicated status also attests to the continuity of mineralization at the Taurus Deposit at Cassiar North.

In a June 13 Exploration Update by Red Cloud Securities analyst Alina Islam, Islam reflected on the new MRE, assigning a rating and target on the substantial increase in the Taurus resource.

"We view this update positively as the company continues to grow its Taurus resource," the edition stated, setting the stage for the subsequent assignment of a Buy rating and a CA$0.75/sh target price (previously under review) to Cassiar.

News of the non-brokered private placement of flow-through units for gross proceeds of CA$5M — to be used to fund ongoing and future exploration and drill programs for Cassiar North (Taurus) — also generated analytical sector commentary.

Jeff Valks, Senior Analyst with The Gold Advisor, wrote on June 23, "Insiders are anticipated to take part in the raise — a good sign when the people closest to the project are still putting skin in the game."

Valks added, "Shares are up 16% over the past two days. Is the tide quietly turning for Cassiar Gold? The stock has climbed 25% in the last three months — a move that suggests investors are starting to take notice."

Exploring. Expanding. Delivering.

With control over two major gold districts in British Columbia, Canada, Cassiar Gold Corp. remains focused on its stated mission of "Exploring. Expanding. Delivering," according to its website.

The first district, the Cassiar Gold Property in British Columbia, Canada, spans 590 km, is highly accessible by Provincial Highway 37, and has a permitted 300 tons per day mill, 160 km of property access roads, a permanent camp, and established mine permits. The site has a historical production of 350,000 oz Au.

It is Cassiar Gold Corp.'s flagship operation, 100%-owned by the company, and consists of two main project areas.

Cassiar North hosts the Taurus Deposit area and a substantial bulk-tonnage orogenic gold resource with significant expansion potential over a 6 km strike length. The Taurus deposit footprint accounts for approximately 0.3 per cent of the Cassiar property's mineral tenure within an area which hosts several prospective outlying targets.

Valks added, "Shares are up 16% over the past two days. Is the tide quietly turning for Cassiar Gold? The stock has climbed 25% in the last three months — a move that suggests investors are starting to take notice."

The Taurus Deposit is the subject of the updated MRE reported herein indicating mineral resources of 8.8 million tonnes at 1.43 grams per tonne gold for 410,000 ounces of gold, in addition to inferred mineral resources of 63.2 million tonnes at 0.95 g/t Au for 1.93 million ounces of gold, using a 0.4 g/t Au cut-off grade, with 91 per cent of ounces occurring within 150 meters of surface.

Cassiar South hosts numerous high-grade epizonal quartz gold vein systems, 25 km of historical underground workings, and rich exploration prospects over 9 km of strike. Historical underground mines in the Cassiar South area have yielded over 315,000 oz of Au at average head grades of between 10 and 20 g/t Au², underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.

Additionally, the company also holds a 100% interest in a secondary district asset, namely properties covering most of the Sheep Creek gold camp located near Salmo, British Columbia, which it describes as being underexplored.

Covering an area of 4,151 hectares in the Nelson mining division, the Sheep Creek camp ranks as the third largest past-producing orogenic gold district in British Columbia, with historical gold production of 742,000 ounces gold at an average grade of 14.7 g/t gold from 1900 to 1951.

While minimal exploration work has been conducted there since mining ceased in the early 1950's, the company believes there is untested potential for unexposed stacked veins at Sheep Creek where additional, competent folded units lie below the areas of historical mining, especially in anticlinal hinges.

A Golden Safe Haven

Industry writers and analysts remain bullish on the gold sector despite the global turmoil caused by recent/ongoing wars and tariff wars, reinforcing the value of this safe-haven metal which has long been considered a reliable hedge during times of economic and political uncertainty.

The Economic Times, in a June 21 report about gold against the backdrop of Iran-Israel-U.S. conflict, stated, "Gold's appeal lies not just in crisis-driven uncertainties, but in its growing utility as a trusted store of value in times characterised by currency uncertainty, geopolitical risk, and weakening confidence in fiat regimes."

Frank Holmes, wrote in Frank Talk on June 23 that gold is now the second-largest reserve currency, following the dollar. "A recent European Central Bank (ECB) report noted that, for the first time ever, gold now represents a larger share of total global foreign exchange reserves (20%) than the euro (16%)," added Holmes.

In a June 26 article, Ahead of the Herd host Richard Mills wrote that gold has certainly benefited from safe-haven demand, rising about 27% year-to-date, and that the World Gold Council says gold is attracting more attention from central banks than at any time in the last decade.

"Over the past three years, central banks have purchased over 3,000 tonnes of the precious metal. Analysts predict they could add another 1,000 tonnes to their reserves this year," Mills added.

Geopolitics are pouring gasoline on the fire according to Brian Hicks of Wealth Daily, in writing about gold overtaking the euro as the second-most held reserve in the world.

In his June 21 posting, Hicks asked the question about what central banks and investors do during a crisis? "They pile into safe-haven assets," he said.

"That's why in the wake of escalating conflict between Israel and Iran this spring, we saw something fascinating happen . . .  not just gold spiking (again) above $3,400 an ounce . . .  but also gold-backed cryptos like Tether Gold (XAUT) and PAXG absolutely surging," Hicks wrote.

Horizon Catalysts

In the release announcing the significant increase to the MRE at the Taurus Deposit in Cassiar North, Cassiar Gold Corp. President and CEO Marco Roque set his sights on the next stage strategies for the company.

"Our cumulative programs have advanced a robust gold deposit that hosts mineralization from surface, with continued exploration upside. We look forward to building on this foundational resource and unlocking the potential of the prospective Cassiar land package," Roque announced.

These sentiments and intentions were further underscored by Jill Maxwell, VP Exploration for Cassiar Gold Corp., who also stated in the release, "By establishing a new geological model with high-quality structural and lithological data, we've enhanced confidence in the resource and laid a foundation for more efficient, value driven drilling to advance this deposit and adjacent targets."

"Several of the adjacent targets share key geological and geophysical characteristics with Taurus and highlight the significant potential of the Cassiar Property, " Maxwell added.

According to a Cassiar Fact Sheet, the company is well-positioned to further capitalize on its property assets which are located in safe jurisdictions with established infrastructure and permits in place.

With an experienced team of geologists, engineers, operators, marketing and capital markets professionals with 250+ collective years of experience, the Company focus remains on further expansion and discovery anchored by a NI43-101 resource of Indicated: 0.4 Moz at 1.43 g/t Au1, Inferred: 1.9 Moz at 0.95 g/t Au2 — open in most directions laterally and at depth.

The company also notes that it continues to maintain strong, collaborative relationships with Kaska Dena First Nations, reflecting Cassiar's commitment to community supported and environmentally committed mining and extraction operations.

Future milestones and upcoming catalysts also include the anticipated completion of the Taurus Geological & Geochemical Domain Study in Q4 2025 (initiated in Q4 2023), and the ongoing execution of the 2025 Exploration Program at the Cassiar Gold Property, elements of which have been detailed, or alluded to in this article.

Ownership and Share Structure

According to Cassiar Gold Corp., insiders, comprised of board, management, and advisors, own 12% of the company, followed by HNW and retail investor holdings of 59%, and institutional investors holding the remaining 29%.

Key shareholders include Delbrook Capital, Commodity Discovery Fund, Sprott Asset Management, US Global, L1 Capital, Crescat Capital, M3SC Fund, Emerging Markets Capital, Ixios Asset Management, Myrmikan Capital, The Mancal Group, and Terra Capital.

As of June 9, 2025, Cassiar Gold has 128,731,002 shares outstanding, a market cap of CA$32 million, and a cash position of CA$4.9 million. 

According to Google Finance, its 52-week trading range has been CA$0.18 to CA$0.33 per share.