Bocana Resources Corp. Completes 2001.8 metres in Seven Diamond Drill Holes at the Escala Gold-Silver Project in Bolivia
Bocana Resources Corp. Completes 2001.8 metres in Seven
Diamond Drill Holes at the Escala Gold-Silver Project in Bolivia
Calgary, October 31, 2023 – Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1)
("Bocana" or the "Company") is pleased to announce the completion of seven diamond drill
holes on the Escala area concession in south-west Bolivia. The Company's inaugural drilling
was completed on October 24, 2023 and tested both the Cerro Galapagos and Cerro Blancos
areas as well the Laura Zone. The Cerro Galapagos target area hosts a large, multi-phased,
felsic intrusive complex with extensive alteration and up to 4 phases of sulphide
mineralization observed. Assay results are pending for all holes.
Figure # 1 is a surface plan view of the three areas drill tested with drill hole surface
projections. Table # 1 lists all the details on the drill holes completed on the program.
Figure # 1 Drill Plan Map
Cerro Galapagos
Cerro Galapagos contains a large approximately, 2.0 X 2.0-kilometre, circular , induced
polarization ("IP") chargeability high and moderate to high resistivity anomalies.
Four diamond drill holes (HRC 2301 -2304) were completed for a total of 1,3 14.7 metres
testing different areas within the Cerro Galapagos area. Cerro Galapagos is a large, felsic
porphyry complex containing multiple phases and extensive argillic and phyllic alteration
zones.
HRC 2301 tested the south-east corner of the large IP high at the inferred
intrusive/volcanoclastic contain. Extensive pyrite and arsenopyrite-pyrite mineralization was
encountered in both rock types indicating at least two phases of mineralization.
HRC 2302 tested the south -west area of the IP, chargeability anomaly within the intrusive
body. The hole was entirely within the intrusive complex containing different phases of
intrusive activity with the intrusion breccias hosting much of the pyrite and arsenopyrite-pyrite
phases of mineralization.
HRC 2303 is located approximately 200 metres north of the central core of the IP
chargeability anomaly. The was extended by 150 metres due to extent and increasing
sulphides concentrations with depth. Several intrusive phases were encountered, most of
which were mineralized again by pyrite and arsenopyrite-pyrite phases.
HRC2304 was added to the program after the visual sulphides concentration in HRC2303
and is located 100 metres from the HRC 2303 collar location. The hole contains several
intrusive phases including intrusive and intrusion breccia and a significant increase in
hydrothermal breccias. H2304 hosted at least 4 phases of mineralization with base metal
mineralization occurring in the apparently youngest, hydrothermal breccias. Again, most of
the rock types encountered were mineralized with pyrite and arsenopyrite mineralization as
disseminations and fracture fillings.
Cerro Blanco
HRC-2305/06 were completed for a total of 331.2 metres testing IP, chargeability, and
resistivity highs. Both holes encountered approximately 5 -10 metres of sediments before
encountering a single phase of a quartz eye porphyry. Minor pyrite and chalcopyrite
mineralization occurs at the sediment/intrusive contact in both holes and approximately 30
metres of crackle fractured intrusive in hole HRC 2306 healed by finer grained pyrite with
traces of chalcopyrite.
Table # 1
Escala 2023 Drilling
DDH UTM E N Elev. (m) Azimuth Dip EOH (m)
HRC2301 19S 718836 7611436 4031 160 -45 295.5
HRC2302 19S 718626 7611762 4026 150 -45 253.7
HRC2303 19S 718901 7612378 4044 315 -65 452.1
HRC2304 19S 718830 7612305 4039 315 -65 313.4
HRC2305 19S 719624 7610666 3983 240 -55 206.2
HRC2306 19S 719435 7610373 3975 240 -55 125.0
HRC2307 19S 721052 7610975 4018 215 -50 355.9
Laura Zone
HRC 2307 tested an area of known mineralization from historic mining areas and ended at
355.9 metres. The hole encountered a single -phase intrusive body with several narrow
fractures healed by mainly pyrite. In the area of the Laura vein, base metal mineralization
was also encountered in facture zones less than a metre in thickness.
Core Sampling Protocols
All drill core samples will be collected under the supervision of Company employees. Drill
cores are transported from the drill platform to the camp’s logging facility where it will be
geotechnically and geologically logged, photographed, and split by diam ond saw prior to
being sampled. Samples will then bag, sealed, and numbered in order to maintain a chain -
of-custody. Company employees also insert ed blank, duplicate and a certified standard
sample in each batch of twenty samples prior to transportation from the Escala area camp to
the ALS Bolivia Ltda. laboratory site in Oruro, Bolivia. ALS will provide Bocana with sample
preparation and analysis services at its ISO/IEC 17025 accredited facilities. The ALS unit in
Oruro is ISO 9001:2008 and ISO 17025:2005 accredited and ALS is the only laboratory in
South America that has a high number of analytical methods accredited by ISO IEC 17025
and has the sample preparation stage included in this accreditation.
Qualified Person
Mr. Lorne Warner, P.Geo., is a "Qualified Person" as defined by National Instrument 43-101.
Mr. Warner has approved the scientific and technical information included in this news
release for 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 materiall y 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this news release.