Cassidy Gold Corp.

Cassidy Gold Corp.

November 04, 2005 15:51 ET

Cassidy Gold Corp.: New Gold Zone, Kouroussa Gold Project

KAMLOOPS, BRITISH COLUMBIA--(CCNMatthews - Nov. 4, 2005) - Cassidy Gold Corp. (TSX VENTURE:CDY) is pleased to announce initial results from recently commenced reverse circulation (RC) drilling on its 100% owned Kouroussa Gold Project in Guinea, West Africa. As of November 1, 2005, 21 RC holes totalling 2092 metres have been completed on the Sodyanfe Zone, 9 RC holes totalling 1069 metres on KD-1 Zone, and 2 RC holes totalling 130 metres in the Koekoe Creek area. Four metre composites were made from 1 metre samples. All 4 metre composites assaying greater than 0.10 g/t gold will be resplit in 1 metre intervals and assayed.

Sodyanfe Gold Zones

KRC669 intersected 60 metres of 3.28 g/t Au 100 metres south of KRC380 (0.60 g/t Au over 66.0 metres). The RC rig has returned to this newly identified zone to further define the mineralization. A map will be available on our website.

In another zone developing to the southeast, KRC688 returned an interval of 24.0 metres assaying 0.83 g/t Au within a broad zone assaying 0.47 g/t Au over 116.0 metres. This mineralization is part of a broad, northwest-trending zone of mineralization which includes mineralized intervals in KRC672, KRC673, KRC683, KRC684, and KRC685 (see Table 1). Indicated strike length is 450 metres and remains open to the northwest and southeast.

Table 1 RC Highlights - Sodyanfe Gold Zone
RC Hole No. From (m) To (m) (m) Au g/t
KRC669 0.0 60.0 60.0 3.28
incl 16.0 52.0 36.0 5.12
KRC672 16.0 24.0 8.0 1.24
KRC673 20.0 24.0 4.0 1.00
and 56.0 64.0 8.0 0.80
KRC679 12.0 24.0 12.0 0.86
KRC683 136.0 140.0 4.0 2.34
KRC684 4.0 12.0 8.0 1.14
KRC685 80.0 84.0 4.0 1.02
KRC688 4.0 120.0 116.0 0.47
incl 32.0 56.0 24.0 0.83

The Sodyanfe Zones, located about 3 kilometres northwest of the Sanu Filanan Zone, represent large, near-surface targets characterized by strongly anomalous soil geochemistry. Three fences of shallow RC holes, completed in April and May, 2005 highlighted the potential for multiple mineralized zones. Mineralized zones returned grades such as 0.60 g/t Au over 66.0 metres in KRC380, 2.51 g/t Au over 6.0m in KRC385, 2.42 g/t Au over 7.0m in KRC388, and 2.79 g/t Au over 6.0m in KRC393. Both KRC385 and KRC393 terminated in mineralization.

Current Exploration

RC drilling is following up targets identified in earlier phases of drilling and will continue resource definition. RAB drilling has begun to assess the numerous untested geochemical targets on the Kouroussa Property. The Marie Zone, south of Sodyanfe, is the first such target. Other immediate targets include X-Vein, Sidafa Hill, Kinkine, and Mani. Soil geochemical sampling has resumed in areas requiring tighter sample spacing and in areas not yet sampled.

Fugro Airborne Surveys is scheduled to begin a magnetics and radiometrics survey over the Kouroussa and Siguiri Properties in mid-November.

Resource Work

As announced in news issued July 28, 2005, reverse circulation (RC) drilling was temporarily suspended following the rainy season. The move was made because the onsite drill was incapable of delivering samples that meet minimum standards for resource work. An RC rig capable of delivering samples that meet minimum standards for resource work is now onsite.

Despite the lack of drilling, RSG Global has recently completed a 43-101 compliant resource update on the Sanu Filanan, JJ and Sanu Folo Gold Zones. Inferred resources now stand at 433,000 ounces in 4,933,000 tonnes averaging 2.7 g/t gold. This represents an increase of 118,000 ounces or 37% over the March 2005 resource with 50,000 ounces added at Sanu Filanan, 51,000 ounces at JJ, and 18,000 at Sanu Folo. A 0.7 g/t gold cut-off grade was used.

Sampling and Assay Procedures

RC 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 subsample. 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.


The exploration team in Guinea is headed by Project Manager Nick Hewson of RSG Global. Christopher J. Wild, P.Eng. V.P. Exploration for Cassidy Gold Corp. is currently on-site and is the Qualified Person for this release.

On behalf of the Board of Directors

Cassidy Gold Corp.

James T. Gillis, President

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