Bocana Resources Corp. Commences Diamond Drilling Program at the Escala Project in Bolivia
Bocana Resources Corp. Commences Diamond Drilling Program at the
Escala Project in Bolivia
Calgary, September 20, 2023 – Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1) ("Bocana" or
the "Company") is pleased to announce that it has commenced the 2,000 metre diamond drilling
campaign, with Leduc Drilling S.R.L. of La Paz, Bolivia , on the Escala area concession in Southwest
Bolivia. This is the Company's inaugural drilling program and is expected to take several weeks to
complete phase 1 ("Phase I") of this drilling campaign.
The Phase I program will be conducted using NQ size core drilling in nine locations. Upon completion
of Phase I, drilling will stop until all assay results have been received prior to planning the second
phase of drilling, a proposed 3,000 metre follow up drilling program.
The largest portion drilling program is expected to occur in the Cerro Galapago area of the Escala
concession and is projected to have a total of five of the nine proposed drill holes located around it,
as identified on the attached Escala area map. The only historic drilling completed on this large near
surface porphyry target were vertically drilled in the very central area with a high chargeability/very
low resistivity anomaly ; this area typically hosts lower grade mineralization and is usually not the
primary area to test.
Additionally, the Company intends to drill two shallow dipping, 250 metre length, drill holes in the
Cerro Blanco area. As previously reported, the vast majority of prior drilling efforts were completed
by drilling vertically dipping drill holes. Recent data suggests a near vertically dipping, structural
influence on mineralization; therefore, the Company believes that this area has not been properly
evaluated from drill testing.
The remaining planned holes will be drilled along the main mine trend to the east where there are
known historical precious/base metal veins. The induced polarization geophysical survey located an
area of high chargeability and resistivity anomalies indicating an area of silicification/quartz veining
with high sulphide content that has not been drill tested. Bocana plans to complete a fence of t wo
holes, both 250 metres in length, across these geophysical anomalies.
The approximate locations and sequence for each of the planned drill collars are identified on the
attached map and schedule:
Proposed
Drill Hole
Location
Target Area Purpose
1 Cerro Blanco East-Satellite Testing IP chargeability high/moderate resistivity
2 Cerro Blanco East-Satellite Testing IP chargeability high/moderate resistivity
3 Cerro Galapago South Testing IP chargeability high/moderate resistivity
4 Cerro Galapago South Testing IP chargeability high/moderate resistivity
5 Cerro Galapago North Testing IP chargeability high/high resistivity
6 Cerro Galapago North Testing IP chargeability high/high resistivity
7 Cerro Galapago North Testing IP chargeability high/moderate resistivity
8 East Mine Trend Testing IP chargeability high/high resistivity
9 East Mine Trend Testing IP chargeability high/high resistivity
Timothy J. Turner, Chief Executive Officer of Bocana, commented: "Management is excited to kick
off our inaugural 2000 metre, diamond drilling program on our Escala Concession in Bolivia. Primarily
by drill testing of our 2000 x 2000 metre Cerro Galapago, induced polarization, changeability
anomaly, that is related to a large porphyry system. Following that, detailed geological mapping
and systematic sampling of the cut core will provide a good insight as to the extent and grade
of the porphyry mineralization. We will certainly be keeping our shareholders and the market
updated as our exploration programs advance over the coming months."
Qualified Person
Mr. Lorne Warner, P.Geo., is a "Qualified Person" as defined by National Instrument 43 -101. Mr.
Warner supervised and approved the scientific and technical information included in this news
release and has approved its dissemination.
About Bocana Resources Corp.
Bocana is a mineral exploration company focused on the acquisition, exploration and development
of mineral properties in South America. Bocana, through its wholly owned subsidiary, Huiracocha
International Service SRL, holds a 100% working interest in the mineral properties known as the
Escala area concessions located at the Department of Potosi, Sud Lipez Province, Bolivia as awarded
by Comibol.
Contact Information
For more information on Bocana, visit: https://bocanaresources.com.
For more information or interview requests, please contact:
Timothy J. Turner – Chief Executive Officer
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities
laws. Forward -looking information can be identified by words such as: "intend", "believe",
"estimate", "expect", "may", "will", “ approximately”, “ planning”, “ projected”, “anticipate” and
similar references to future periods. Although Bocana believes that, in light of the experience of its
officers and directors, current conditions and expected future developments and other factors that
have been considered appropriate, the expectations reflected in this forward -looking information
are reasonable, undue reliance should not be placed on them because Bocana can give no assurance
that they will prove to be correct. Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual results, level of activity, performance
or achievements of Bocana, as the case may be, to be materially different from those expressed or
implied by such forward -looking information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; the actual results of current exploration
activities including Phase 1 ; risks associated with operation in foreign jurisdictions; ability to
successfully integrate purchased properties or mining rights awarded; foreign operations risks; and
other risks inherent in the mining industry. Although Bocana has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward -looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. Readers are cautioned not to place undue reliance on forward -looking information.
Additional risks include those disclosed in the Information Circular, which are incorporate herein by
reference and are available through SEDAR at www.sedar.com. The forward -looking statements
contained in this news release are made as of the date hereof, and the Company undertakes no
obligation to update publicly or revise any forward -looking statements or information, except as
required by law.
This news release is not an offer of the securities for sale in the United States. The securities
described in this news release have not been registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to, or for the account or benefit
of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended)
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state in which where such offer, solicitation or sale would be unlawful.
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