Tuesday 10th January, 2023 TURMALINA ANNOUNCES MULTIPLE DRILL RESULTS FROM CHANAPE
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Tuesday 10th January, 2023
TURMALINA ANNOUNCES MULTIPLE DRILL RESULTS FROM CHANAPE
Vancouver, B.C. - Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI-
FSE) is pleased to report the final results from the 2022 diamond drilling program at the Chanape project
(“Chanape” or the “Project”), located 87km east of Lima, Peru . Drilling has continued to i ntersect
extensive gold-silver-copper mineralisation in the breccias tested by the Company. This release
summarizes the final three holes of Turmalina’s first phase of drilling on the project totalling 549 m of the
2,257 m program.
Please see Turmalina press release dated November 15, 2022 for the results of the initial 4 holes (1003.7
m) and the press release of December 14, 2022 for the results of the second batch of 4 holes (704.8 m).
This first phase of drilling has delivered multiple high-grade results from multiple breccia targets and will
be used to guide additional drilling in an upcoming Phase 2 in 2023.
Selected intercepts from the most recent drilling include:
Breccia 8:
• 49.05m @ 1.14 g/t Au, 20 g/t Ag and 0.34% Cu (1.9g/t AuEq or 1.3% CuEq), CHT-DDH-043 from
59.65m.
o Including 12.3m @ 1.95 g/t Au, 29 g/t Ag and 0.44% Cu, (3.0 g/t AuEq or 2.0% CuEq),
from 94.7m.
• 70.15m @ 1.01 g/t Au, 20 g/t Ag & 0.75 % Cu (2.4 g/t AuEq or 1.6% CuEq); CHT-DDH-044 from
64.2m
o Including 10.7m @ 2. 34 g/t Au, 15 g/t Ag and 0.8 6% Cu ( 3.8 g/t AuEq or 2.6% CuEq ),
from 86.05m.
o Including 24.55m @ 1.04 g/t Au, 41 g/t Ag and 1.4 0% Cu (3.6 g/t AuEq or 2.5% CuEq),
from 109.8m.
Breccia Clint
• 30.63m @ 0.54 g/t Au, 33 g/t Ag and 1.65% Cu (3.4 g/t AuEq or 2.3% CuEq), CHT-DDH-044 from
173.3m
o Including 12.07m @ 0.64 g/t Au, 48 g/t Ag and 2.01% Cu (4.2 g/t AuEq or 2.9% CuEq),
from 191.86m.
The Chanape project is characterised by multiple tourmaline gold-silver-copper (Au-Ag-Cu) breccia pipes,
with over fifty identified to date. The first 8 holes of this 2257 m drill program tested Breccia 8, Breccias
10 & 11 , Breccia Clint, the San Antonio Breccia and Veta Colorada. This release summarises the results
from holes CHT-DDH-042, CHT-DDH-043 and CHT-DDH-044.
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CHT-DDH-042 tested a possible extension of Breccia 8, downdip from hole CHT -DDH-034, but did not
intercept the breccia. Hole CHT -DDH-043 was drilled fr om the same platform as CHT -DDH-042, with a
different azimuth, and intercept ed the down -dip extension of B reccia 8. Drill hole CHT -DDH-044 tested
both Breccia 8 and the adjacent Breccia Clint and confirmed the high -grade copper mineralisation
intersected previously at Breccia Clint by hole CHT-DDH-041 (see press release of December 14, 2022).
Mr James Rogers, Chief Executive Officer, states:
“The final results from the Chanape 2022 program have continued to deliver high grade
intercepts across multi ple mineralised breccias. The team has done an excellent job
carrying out this program and we are excited to follow up on these excellent results in
2023.”
Table 1 - Final batch of Phase 1 drill hole intersections at the Chanape Project.
Hole ID From To Interval Au
(g/t)
Ag
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
AuEq
g/t
CuEq
%
CHT-DDH-043 Composite 59.65 108.7 49.05 1.14 20 0.34 0.03 0.01 1.90 1.30
CHT-DDH-043 including 94.7 107 12.3 1.95 29 0.44 0.06 0.01 2.97 2,04
CHT-DDH-044 Composite 64.2 134.35 70.15 1.01 20 0.75 0.03 0.01 2.36 1.62
including 86.5 97.18 10.7 2.34 15 0.86 0.01 0.01 3.79 2.60
including 109.8 134.35 24.55 1.04 41 1.40 0.06 0.03 3.61 2.48
CHT-DDH-044 Composite 173.3 203.93 30.63 0.54 33 1.65 0.03 0.06 3.37 2.31
Including 191.86 203.93 12.07 0.64 48 2.01 0.04 0.07 4.20 2.88
*Intersections are not true widths and additional drilling and geological modelling of the mineralised
zones in the breccia pipes is required to determine the true widths of the drill hole intersections.
Intersections are selected based on a 0.5 g/t Au or 0.3% Cu cut-off grade, a minimum downhole length of
2m and a maximum waste inclusion of 2 consecutive meters. Equivalent gold (AuEq) and equivalent
copper (CuEq) values are calculated assuming 100% recovery using USD$ 1770 oz Au, $ 23 oz Ag and
$8300/t Cu (~$3.8/lb).
Table 2 -Highlight Results of the total Phase 1 Program
Hole ID From To Interval Au
(g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) AuEq g/t CuEq
%
CHT-DDH-034 Breccia 8 60 99.6 39.6 3.79 18.38 0.45 0.01 0.01 4.71 3.10
CHT-DDH-034 including 65.5 74 8.5 9.21 27.44 0.48 0.01 0.01 10.28 6.76
CHT-DDH-037 Breccia S
Antonio
31.4 64.8 33.4 1.55 66.21 0.18 1.70 0.02 2.66 1.75
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CHT-DDH-037 including 47.9 58.2 10.3 4.25 75.87 0.28 4.45 0.04 5.64 3.71
CHT-DDH-040 Veta
Colorada 77.67 79.47 1.80 2.35 11 0.18 0.05 0.02 2.76 1.83
CHT-DDH-041 Breccia
Clint 165.7 213.75 48.05 0.90 178 1.67 0.05 0.20 5.73 3.80
CHT-DDH-041 including 165.7 167.9 2.20 0.70 3349 10.82 0.18 0.28 60.5 40.1
CHT-DDH-041 including 192.19 212.6 20.41 1.01 47 2.23 0.04 0.12 4.98 3.31
CHT-DDH-041 Breccia
Clint 222.27 236.66 14.39 0.98 56 2.17 0.05 0.09 4.98 3.30
CHT-DDH-043 Breccia 8 59.65 108.7 49.05 1.14 20 0.34 0.03 0.01 1.90 1.30
CHT-DDH-043 including 94.7 107 12.3 1.95 29 0.44 0.06 0.01 2.97 2.04
CHT-DDH-044 Breccia 8 64.2 134.35 70.15 1.01 20 0.75 0.03 0.01 2.36 1.62
including 86.5 97.18 10.7 2.34 15 0.86 0.01 0.01 3.79 2.60
including 109.8 134.35 24.55 1.04 41 1.40 0.06 0.03 3.61 2.48
CHT-DDH-044 Breccia
Clint
173.3 203.93 30.63 0.54 33 1.65 0.03 0.06 3.37 2.31
Including 191.86 203.93 12.07 0.64 48 2.01 0.04 0.07 4.20 2.88
Table 3 - Chanape diamond drill hole locations and targets included in this release.
Hole ID mE
(WGS 84-18S)
mN
(WGS 84-18S)
Elevation
(m) Azimuth Dip Depth
(m) Target
CHT-DDH-042 362202 8681746 4610 357 -70 165.6 Breccia 8
CHT-DDH-043 362202 8681746 4610 4 -60 147.4 Breccia 8
CHT-DDH-044 362202 8681746 4610 23 -60 236.2 Breccias 8 and Clint
About the Chanape Project
The 677 ha Chanape copper-gold project is located approximately 87km east of Lima, Peru and is accessed
via 24km of unpaved road from Turmalina’s operational centre in the town of San Damian. The Project
contains several strongly minerali sed tourmaline breccia pipes that are clustered around a large,
mineralised copper-molybdenum intrusion. Historical drill holes have confirmed mineralisation on breccia
pipes and recent surface geological mapping have added new mineralised bodies for follow-up.
Turmalina’s work to date has been focused on interpreting historic work while mapping and sampling over
50 documented tourmaline breccias and epithermal veins at the project and drill-testing the best targets.
A phreato-magmatic breccia, measuring 700 m by 200 meters has also been identified as a potential target
for bulk tonnage mineralisation, with gold anomalism coincident with a geophysical anomaly (IP).
Turmalina has an option to acquire 100% of the Chanape Project.
Other Projects
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The 40,340 ha San Francisco project is located in San Juan, Argentina. The project area contains over 60
tourmaline breccias and numerous epithermal vein occurrences, several of which have supported small-
scale mining. See press release of December 7, 2022 for the l atest news on the identification and
development of a number of targets to be drill tested in 2023.
On Behalf of the Company,
Mr James Rogers Chief Executive Officer and Director.
Website: turmalinametals.com
Address: #488 - 1090 West Georgia St, Vancouver, BC V6E 3V7.
For Investor Relations enquiries, please contact Bryan Slusarchuk at +1 833 923 3334 (toll free) or via
Statements
About Tu rmalina Metals and our p rojects: Turmalina Metals is a TSXV -listed exploration company focused on
developing our portfolio of high -grade gold -copper-silver projects in South America. Our focus is on tourmaline
breccias, a deposit style overlooked by many explorers. Turmalina Metals is led by a team responsible for multiple
gold-copper-silver discoveries who are highly experienced in t his deposit style. Our projects are characterised by
open high-grade mineralisation on established mining licenses that present compelling drill targets. The principal
project held by Turmalina is the San Francisco project in San Juan, Argentina. For furth er information on the San
Francisco Project, refer to the technical report entitled “NI43 -101 Technical Report San Francisco Copper Gold
Project, San Juan Province, Argentina” dated November 17, 2019 under the Corporation’s profile at www.sedar.com.
Turmalina is also exploring the Chanape project in Peru. For further information on Chanape please refer to the
technical report “National Instrument 43 -101 Technical Report on the Chanape Go ld-Silver-Copper Project” dated
July 5, 2022 under the Corporation’s profile at www.sedar.com.
Sampling and Analytic procedure: Turmalina Metals follows systematic sampling and analytical protocols which
exceed industry standards and are summarized below.
All drill holes are PQ, HQ or NQ diameter diamond core holes. At Chanape drill core is collected at the drill site and
transported by vehicle to the Turmalina core logging facility in San Damian where recovery measurements are taken
before the core is photographed and geologically logged. The core is then cut in half with a diamond saw blade with
half the sample retained in the core box for future reference and the other half placed into a pre -labelled plastic
bag, sealed with a plastic zip tie, and identified with a unique sample number. The core is typically sampled over a
0.5 to 1.5 meter sample interval unless the geologist determines the presence of an important geological contact. In
this case, the samples can have a minimum of 20 centimetres length. The bagged samples are then stored in a secure
area pending shipment to the ALS laboratory in Lima where they are dried, crushed and pulverized. Following sample
preparation, the prepared pulps are then analysed using a 50g digested sample and fire assay-AA finish analysis for
gold and four acid digestion with ICP-MS analysis for 53 other elements. Samples with results that exceed maximum
detection values for gold are re -analysed by fire assay with a gravimetric finish and other elements of interest are
re-analysed using precise ore-grade ICP analytical techniques.
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Turmalina Metals independently inserts certified control standards, coarse field blanks and duplicates into the
sample stream to monito r data quality (‘QA/QC’ samples) . These QA/QC samples are inserted “blindly” to the
laboratory in the sample sequence prior to departure from the Turmalina Metals core storage facilities. For drill core
samples 8 QA/QC samples are inserted into each 70 -sample dispatch: 1 blank sample, 5 commercially -prepared
standards, 1 core duplicate sample and 1 control sample from the SF mine.
The assay results for the QA/QC samples are checked and verified by the project geologist and the Qualified Person.
All such QA/QC assay results from sample dispatches reported in this news release have be en found to be within
acceptable industry limits, and the Qualified Person is not aware of any sampling, recovery or any other factors that
could materially affect the accuracy or reliability of the data.
Qualified Person: The scientific, technical and analytical data contained in this news release pertaining to the San
Francisco and Chanape projects has been reviewed and approved by Dr. Rohan Wolfe, Technical Advisor, MAIG, who
serves as the Qualified Person (QP) under the definition of National Instrument 43 -101.
Forward Looking Statement: This news release contains certain "forward -looking statements" within the meaning
of such statements under applicable securities law. Forward -looking statements are frequently characterized by
words such as "anticipates", "plan", "continue", "expect", "p roject", "intend", "believe", "anticipate", "estimate",
"may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or
conditions "may" or "will" occur. These statements are only predictions. Various assu mptions were used in drawing
the conclusions or making the projections contained in the forward -looking statements throughout this news
release. Forward -looking statements are based on the opinions and estimates of management at the date the
statements are made and are subject to a variety of risks (including those risk factors identified in the Corporation’s
prospectus dated November 21, 2019) and uncertainties and other factors that could cause actual events or results
to differ materially from those projected in the forward-looking statements. The Corporation is under no obligation,
and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, except as expressly required by applicable law.
There is no assurance when the government -imposed measures related to COVID -19 in Argentina and Peru will be
lifted. There is uncertainty over the form and duration of government measures and multiple policy changes may
occur with regards to these measures over time. The Company may not provide updates on various government
measures and changes to these m easures as they occur. Protocols related to COVID -19, and the effects of the
pandemic on service providers located throughout South America, may lead to delays in the future reporting of
results.
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Figure 1 – Chanape Project – Geology and Prospects Drilled in 2022 . The Project is characterised by over 50
tourmaline breccia pipes (purple) and multiple epithermal vein systems (red).
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Figure 2 – Location of Company drill holes at Chanape. This press release reports results for holes CHT-
DDH-042, CHT-DDH-043 and CHT-DDH-044, which were drilled to test Breccia 8 and Breccia Clint.
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Figure 3 – Details of drilling completed at Breccia 8 and Breccia Clint. Holes CHT-DDH-042 and CHT-
DDH-043 tested Breccia 8, while CHT-DDH-044 tested both Breccia 8 and Breccia Clint.