Cassidy Gold intersects 10.65 g/t Au over five metres

2005-06-06 14:48 ET - News Release

Mr. James Gillis reports

CASSIDY GOLD CORP.: UPDATE ON RC DRILLING, KOUROUSSA GOLD PROJECT

Cassidy Gold Corp. has released the results of continuing reverse circulation (RC) and diamond drilling on its 100-per-cent-owned Kouroussa property in Guinea, West Africa. A total of 12 RC holes totalling 817 metres and one diamond drill hole 149 metres in length tested the near-surface mineralization along the north and central portion of the JJ zone.

The JJ zone strikes at an azimuth of 330 degrees and dips at minus 60 degrees to the southwest. In general, RC holes are drilled at a nominal 50-metre spacing. To the north, KRC587 failed to intersect significant mineralization and KRC588 was lost when the hole blew open into a shallow underground artisanal working. However, KRC590 drilled 75 metres southeast, intersected a broad zone of mineralization consisting of two distinct zones. The upper zone assayed 10.64 grams per tonne gold over five metres while a lower zone returned 1.07 grams per tonne gold over 10 metres. Another 40 metres southeast, the mineralized zone in KRC589 assayed 1.68 grams per tonne gold over 11 metres and KRC591 returned 3.46 grams per tonne gold over six metres.

KRC592 and KRC593 form a fence of two holes 45 metres to 50 metres southeast of fence KRC589/591. KRC592 intersected mineralization grading 7.68 grams per tonne gold over three metres and KRC593 hit a two-metre zone assaying 2.05 grams per tonne gold. Another 55 metres southeast, KRC594 intersected a broad, high-grade zone assaying 6.37 grams per tonne gold over 16 metres. KRC595 skipped a farther 100 metres to the southeast to the central portion of the zone, and intersected 3.01 grams per tonne gold over three metres. KRC596, 40 metres farther southeast, hit a broad zone, near surface, assaying 1.44 grams per tonne gold over eight metres. KRC597 and KRC598 attempted to test shallow mineralization 85 metres and 140 metres southeast of KRC596 but failed to reach their targets due to significant water in the holes.

In addition to the RC drilling, one diamond drill hole, KD157, was completed in the central part of the JJ zone between KRC594 and KRC595 as part of a detailed structural geology study being conducted by RSG Global Pty. Ltd. of Perth, Australia. The hole, 149 metres in length, intersected a hangingwall zone assaying 20.48 grams per tonne gold over 4.5 metres in addition to the JJ structure which returned an upper interval of 1.22 grams per tonne gold over three metres and a lower interval of 1.1 grams per tonne gold over 10 metres. Significant intervals are listed below.

Following the completion of KRC598, resource drilling on the JJ zone was halted temporarily to allow the installation of a more powerful compressor on the RC rig to ensure high-quality samples can be collected to a depth of at least 150 metres. Resource drilling on the JJ and KD-1 zones will resume shortly.

Current Exploration
Definition drilling continues on JJ and KD-1 with a view to increasing Cassidy's current inferred resource of 315,000 ounces. To date, 817 metres out of a planned 3,370 metres of RC drilling have been completed on the JJ to be followed by 2,600 metres on KD-1. To date, a total of 26,653 metres of RC drilling, mainly with a kit bit, have been completed in 638 holes.

Sampling and Assay Procedures
All drill core samples were split using a rock saw over sample lengths of 0.5 metre to 1.5 metres. Holes are drilled with HQ rods through the saprolite and reduced to NQ size once in bedrock, typically between 40 metres and 100 metres of depth. RC samples were collected from the cyclone and split or pipe sampled to a size of one kilogram. All samples were sent to Abilab Afrique de l'Ouest in Bamako, Mali, for fire assay using a 50-gram subsample. High-grade samples were checked by reassaying the same pulp. A gravimetric finish was used on all samples assaying over 10 grams per tonne gold and some samples assaying over four grams per tonne gold. Several high values were checked by taking a second split from the sample rejects and fire assaying with both AAS and gravimetric finishes.

Personnel
The exploration team in Guinea consists of project manager Marc-Andre Boudreau, BSc, and Maxime Dupere, BSc. Christopher J. Wild, PEng, vice-president of exploration for Cassidy Gold, has recently returned from the property and is the qualified person for this release.

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