Turmalina Commences Work on Multiple Breccias at San Francisco Project
Turmalina Commences Work on Multiple Breccias at San
Francisco Project
TSXV: TBX
VANCOUVER
,
Dec. 19, 2019
/CNW/ - Turmalina Metals Corp. ("
Turmalina
" or the "
Company
") is pleased to announce that the
company is following up on its recently reported initial drill program at the
San Francisco
project (the
"Project"
) located in the mining-
friendly state of San Juan,
Argentina
by assessing multiple additional breccias now identified on the property.
Recent drilling by the Company intersected high-grade gold-silver mineralization in multiple holes (i.e.
36.95m
@ 6.31 g/t Au, 122 g/t
Ag & 0.88% Cu for 8.7 g/t AuEq) at one breccia pipe on the Project, the
San Francisco
de Los Andes breccia ("
SFdLA
"; see
Turmalina News Release dated
December 9, 2019
for details).
The Company is now conducting an aggressive field program at the Project with the aim of defining, sampling and prioritising the
large number of other breccias on the Project. Highlights of recent field work include:
Mapping by the Company, which has already covered 70% of the 3404 ha Project, has defined 67 breccias, of which several
have supported historic artisanal gold workings at surface.
A soil sample grid at
100m
spacing has already covered 30% of the project licence and rock chip sampling has been undertaken
to further define targets (Figures 1 and 2).
Dr.
Rohan Wolfe
, Chief Executive Officer, states:
Turmalina is very pleased with the multiple intersections of high-grade gold at the SFdLA breccia pipe but it is important to note
that this SFdLA breccia is only one breccia in a cluster of at least 67 other breccias on the Project. This cluster of breccias allows
Turmalina a path to target ounces at the Project through not only further drilling at SFdLA which is open at depth and laterally and
appears to be flaring out at depth as previously reported, but also via these additional areas in near proximity to one another. We
have wasted no time in commencing an aggressive field program to locate all mineralised breccias at the Project.
The current focus of field program is the mapping, sampling and prioritising of all breccias on the property, with the aim of defining
drill targets for an early 2020 drill program that will test both regional targets and extensions to the high grade SFdLA breccia pipe.
As our field program continues we expect to discover new mineralised breccias, and I am happy to report that we are on schedule
to complete the first phase of mapping and sampling at the Project by
February 2020
.
"
About the San Francisco Project, San Juan,
Argentina
The 3404 ha
San Francisco
project is located in San Juan,
Argentina
. The project area contains over 60 tourmaline breccia
occurrences, several of which have supported small-scale mining. The Company is focused on mapping and sampling the breccias in
the project area, and drill testing the highest priority targets.
About the Turmalina Project, Piura,
Peru
Turmalina has entered into an agreement to explore the Turmalina copper-gold molybdenum project located in Piura,
Peru
(the
'Turmalina Project'
). The Turmalina Project hosts a cluster of undrilled tourmaline breccias that were historically mined for copper,
gold and molybdenum. The Company is currently engaged in the permitting process and will commence exploration on completion of
permitting and the filing of a 43-101 report.
Work Program
The current summer field program at
San Francisco
in San Juan,
Argentina
aims extend geological mapping and geochemical
sampling (both rock chips and soils) over the entire Project area. High-priority breccia targets defined by this first-pass sampling will
then be subject to detailed mapping and channel sampling prior to the selection of drill targets for an early 2020 drill program that will
test both regional targets and extensions to the SFdLA breccia pipe. The company is also consolidating our regional holdings, with
the project area being one section of an 80 km long gold-copper mineralised belt.
At the Turmalina Project in
Peru
, the Company is conducting social studies, validating mine grades and applying for all required
permits before deciding whether to commit to exploration. The company plans to commission a third-party review of the property,
with the aim of lodging a 43-101 compliant report in the new year.
Qualified Person
The scientific and technical data contained in this news release pertaining to the
San Francisco
and Turmalina projects has been
reviewed and approved by Dr.
Rohan Wolfe
, Chief Executive Officer, MAIG, who serves as the Qualified Person (QP) under the
definition of National Instrument 43-101.
On Behalf of the Company,
Dr.
Rohan Wolfe
, Chief Executive Officer and Director.
Email:
Mobile: +976 9999 6994
Website: turmalinametals.com
Address: #488 - 1090 West Georgia St,
Vancouver, BC
V6E 3V7.
Statements
About Turmalina Metals and the San Francisco Project:
Turmalina Metals is a TSXV-listed exploration company focused on
developing our portfolio of high grade gold-copper-silver-molybdenum 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 molybdenum
discoveries who are highly experienced in this deposit style. Our projects are characterised by open high-grade mineralisation on
established mining licenses that present compelling drill targets. The principle project held by Turmalina is the
San Francisco
project
in San Juan,
Argentina
. For further 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
.
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", "project", "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 assumptions 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.
Figure 1: Current progress in soil sampling at the San Francisco Project area. Approximately 30% of the project area has already
been covered (green points). (CNW Group/Turmalina Metals Corp.)
Figure 2: Current progress of rock chip sampling at the San Francisco Project with main breccia locations. Over 300 samples have
been collected to date, with all outcropping breccias to be mapped, sampled and prioritised by February 2020. (CNW
Group/Turmalina Metals Corp.)
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For Investor Relations enquiries, please contact Bryan Slusarchuk at +1 833 923 3334 (toll free) or via
CO: Turmalina Metals Corp.
CNW 08:00e 19-DEC-19