Bocana Resources Corp. Issues Tender Requests for the Diamond Drilling of the Escala Project in Bolivia
Bocana Resources Corp. Issues Tender Requests for the Diamond Drilling of
the Escala Project in Bolivia
CALGARY, Alberta, Feb. 28, 2023 -- Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1) ("Bocana" or the " Company")
is pleased to announce that it has sent out tender requests to several companies for the diamond drill of the Escala Project for
a projected April 2023 start date. Bocana has requested that the program be conducted using NQ size core drilling with a
minimum of 2,000 metres be completed in the first phase of this drilling campaign (“ Phase 1”). Upon completion of Phase 1,
drilling will stop until all assay results have been received prior to starting the second phase (“ Phase II ”) of drilling, a 3,000
metre follow up drilling program. The Company, through its subsidiary Huiracocha International Service SRL, has received a
twelve-month work permit from the Corporación Minera de Bolivia (“Comibol”), effective January 3, 2023.
The largest portion of the Phase 1 diamond drilling program occurs on the Cerro Galapago area. A total of five of the nine
proposed Phase 1 drill holes with an average proposed depth of 250 metres each will be completed in areas with high
chargeability/moderate to high resistivities. The only historic drilling completed on this large 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.
Separately, the Cerro Blanco area has undergone several drilling programs; however, the vast majority of drilling was, again,
completed by vertically dipping drill holes. Recent data suggests a near vertically dipping, structural influence on
mineralization; therefore, this area has not been properly evaluated from drill testing. Bocana will complete two, shallow
dipping, 250 metre length, drill holes to test this area.
Concluding the drilling program will be two holes 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 two holes, both 250 metres in length across these geophysical anomalies.
Proposed
Drill UTM Zone 19 Azimuth Dip Proposed
Collar
Location mE mS Degrees Degrees Length (m)
1 719750 7610600 220 -45 250
2 719575 7610375 220 -45 250
3 718650 7611800 150 -45 250
4 718900 7611350 150 -45 250
5 719175 7612525 290 -45 250
6 719400 7612460 105 -45 250
7 718900 7612370 330 -65 250
8 720800 7611200 215 -45 250
9 720700 7611070 215 -45 250
Proposed
Drill Target Area Purpose
Hole
1 Cerro Banco East-Satellite Testing IP chargeability high/moderate resistivity
2 Cerro Banco 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
Escala Area Map
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 (" Escala") 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", “ideal”, “large”,
“sizeable”, “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; 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 to not 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) absent registration or an exemption from registration. This news release shall not
constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in
which where such offer, solicitation or sale would be unlawful.
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.
A photo accompanying this announcement is available at
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