Cassidy Gold Corp.
TSX VENTURE : CDY

Cassidy Gold Corp.

August 14, 2007 12:10 ET

Cassidy Gold Corp.: 9.97 g/t Au Over 6 Metres at JJ Vein, Kouroussa Gold Project, Guinea

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2007) - Cassidy Gold Corp. (TSX VENTURE:CDY) is pleased to announce results from recently completed reverse circulation (RC) on its 100%-owned Kouroussa Project, located in Guinea, West Africa. A further 11 RC holes totalling 1146 metres were completed on JJ Vein and its extensions and 13 holes totalling 1202 metres continued to expand mineralization at the KD-1 Zone. Highlights from JJ Vein include 9.97 g/t Au over 6.0 metres in KRC1356, 6.85 g/t Au over 8.0 metres and 16.50 g/t Au over 2.0 metres in KRC1262. Highlights from KD-1 include 2.75 g/t Au over 7.0 metres in KRC1368 and 2.86 g/t Au over 10.0 metres in KRC1369. True thicknesses are approximately 90%-95% of the reported sample lengths on JJ Vein and greater than 65% on KD-1.

JJ Vein

Eleven RC holes tested possible northwest extensions to JJ Vein mineralization, the southeastern extension, and a few gaps at below the central portion of the resource model. Drilling is intended to improve the interpretation and extend mineralization in advance of an upcoming resource estimate update.

To the northwest, KRC1339 and KRC1340 tested a possible extension to JJ mineralization approximately 180 metres along strike from previous drilling (see Cassidy Gold News Release - July 17, 2007). Similarly, KRC1360 to KRC1364 tested immediately northeast of that previous drilling. In the latter area, KRC1360 intersected 0.79 g/t Au over 9.0 metres, KRC1361 hit 6.80 g/t Au over 4.0 metres and KRC1362 hit 6.85 g/t Au over 8.0 metres and 16.50 g/t Au over 2.0 metres all on the same section. Forty metres northwest, KRC1363 intersected 1.82 g/t Au over 11.0 metres. This new mineralization is open in all directions.



Table 1 JJ Vein - RC Drill Assay Results
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Hole ID From (m) To (m) Length (m) Au (g/t)
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KRC1339 28.0 36.0 8.0 0.68
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KRC1340 66.0 68.0 2.0 1.54
-----------------------------------------------------
KRC1354 50.0 58.0 8.0 0.52
-----------------------------------------------------
KRC1355 11.0 13.0 2.0 0.71
-----------------------------------------------------
KRC1356 77.0 78.0 1.0 4.43
-----------------------------------------------------
and 84.0 90.0 6.0 9.97
-----------------------------------------------------
KRC1358 32.0 36.0 4.0 1.20
-----------------------------------------------------
and 81.0 86.0 5.0 0.66
-----------------------------------------------------
and 112.0 113.0 1.0 1.85
-----------------------------------------------------
and 129.0 130.0 1.0 2.11
-----------------------------------------------------
and 139.0 143.0 4.0 0.90
-----------------------------------------------------
KRC1359 57.0 60.0 3.0 3.99
-----------------------------------------------------
KRC1360 6.0 9.0 3.0 0.93
-----------------------------------------------------
and 36.0 45.0 9.0 0.79
-----------------------------------------------------
and 54.0 55.0 1.0 1.30
-----------------------------------------------------
and 87.0 88.0 1.0 1.81
-----------------------------------------------------
KRC1361 24.0 28.0 4.0 6.80
-----------------------------------------------------
and 64.0 65.0 1.0 1.06
-----------------------------------------------------
KRC1362 0.0 8.0 8.0 6.85
-----------------------------------------------------
and 14.0 15.0 1.0 6.96
-----------------------------------------------------
and 32.0 37.0 5.0 0.50
-----------------------------------------------------
and 96.0 101.0 5.0 1.11
-----------------------------------------------------
and 112.0 114.0 2.0 16.50
-----------------------------------------------------
KRC1363 18.0 29.0 11.0 1.83
-----------------------------------------------------
and 69.0 70.0 1.0 1.41
-----------------------------------------------------
KRC1364 43.0 46.0 3.0 1.46
-----------------------------------------------------
and 73.0 74.0 1.0 2.51
-----------------------------------------------------
and 84.0 85.0 1.0 3.16
-----------------------------------------------------


In the centre of the JJ Vein, KRC1356 intersected 9.97 g/t Au over 6.0 metres between 84 and 90 metres downhole. KRC1358 intersected 1.20 g/t Au over 4.0 metres high in the hole, likely related to Sanu Folo mineralization, and 0.90 g/t Au over 4.0 metres between 139 and 143 metres downhole. Both KRC1356 and KRC1358 extend known mineralization down dip of the current resource model. To the southeast, KRC1354 and KRC1355 intersected the extension to mineralization 160 metres beyond the resource model.

KD-1 Zone

Drilling on KD-1 and the KD-1 Extension focused on filling some gaps along the 1150 metres long inferred strike length. Toward the southeast, KRC1365 and KRC1366 intersected 2.07 g/t Au over 4.0 metres and 3.28 g/t Au over 5.0 metres, respectively. Seventy metres northwest, KRC1367 and KRC1368 intersected 7.0 metres each of 1.43 g/t Au and 2.75 g/t Au, respectively. One hundred thirty metres further northwest, KRC1369 intersected 2.85 g/t Au over 10.0 metres. Another 100 metres to the northwest, KRC0222 had bottomed in mineralization grading 10.35 g/t Au over 13.0 metres. The hole was re-entered and extended, stretching that interval out to 20.0 metres grading 7.21 g/t Au. On the KD-1 Extension, KRC1373 intersected 1.09 g/t Au over 10.0 metres.



Table 2 KD-1 Zone - RC Drill Assay Results
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Hole ID From (m) To (m) Length (m) Au (g/t)
-----------------------------------------------------
KRC0222 35.0 55.0 20.0 7.21
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and 60.0 61.0 1.0 1.56
-----------------------------------------------------
and 72.0 73.0 1.0 1.75
-----------------------------------------------------
and 90.0 104.0 14.0 1.16
-----------------------------------------------------
KRC1365 30.0 32.0 2.0 2.08
-----------------------------------------------------
KRC1366 18.0 23.0 5.0 3.28
-----------------------------------------------------
and 31.0 33.0 2.0 0.89
-----------------------------------------------------
KRC1367 11.0 12.0 1.0 0.96
-----------------------------------------------------
and 22.0 29.0 7.0 1.43
-----------------------------------------------------
KRC1368 31.0 38.0 7.0 2.75
-----------------------------------------------------
and 71.0 74.0 3.0 1.46
-----------------------------------------------------
KRC1369 40.0 42.0 2.0 0.72
-----------------------------------------------------
and 56.0 66.0 10.0 2.86
-----------------------------------------------------
and 90.0 96.0 6.0 0.63
-----------------------------------------------------
KRC1372 15.0 20.0 5.0 0.79
-----------------------------------------------------
and 51.0 53.0 2.0 2.36
-----------------------------------------------------
KRC1373 16.0 26.0 10.0 1.09
-----------------------------------------------------


An updated drill hole location map will be posted at www.cassidygold.com shortly.

JJ Vein and KD-1 Zone are a pair of northwest-trending zones of quartz veining and silicification in the Koekoe resource area, 400 metres and 650 metres northeast of Sanu Filanan. In the latest resource calculation, completed by RSG Global in September 2006, the JJ Deposit included 29,000 ounces of indicated resource in 188,000 tonnes grading 4.9 g/t Au and 20,000 ounces of inferred resource in 194,000 tonnes grading 3.2 g/t Au. KD-1 tallied 18,000 ounces of gold of indicated resource in 254,000 tonnes grading 2.20 g/t Au and 24,000 ounces of inferred gold resource in 579,000 tonnes grading 1.30 g/t Au at a 0.7 g/t Au cut-off.

Exploration Program

The current phase of resource drilling is now complete for the remainder of the wet season. Drilling is planned to resume in October. Assay results are pending for 5 more holes on KD-1, 17 holes on Sanu Filanan, and 18 holes on Sanu Filanan Extension. Resource modelling is underway and an updated resource estimate can be expected in 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 Brad Ackroyd of RSG Global Consulting 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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Contact Information

  • Cassidy Gold Corp.
    Jim Gillis
    President
    (250) 372-8222
    (250) 828-2269 (FAX)
    Website: www.cassidygold.com