Turmalina Metals Completes Summer Field Program and Provides an Update on Activities
Turmalina Metals Completes Summer Field Program and Provides
an Update on Activities
VANCOUVER
,
March 23, 2020
/CNW/ - Turmalina Metals Corp. ("Turmalina" or the "Company"; TBX TSX.V) wishes to provide an update on
exploration activity at its
San Francisco
copper-gold project ("San Francisco" or the "Project"), located in San Juan in
Argentina
, and our response
to the COVID-19 pandemic.
Turmalina completed the summer field program at
San Francisco
during the past week with exploration staff demobilized from site at the end of that
program. This program mapped the entire Project area and identified several high priority exploration targets.
Based on the information obtained from the past three months of field work, Turmalina geologists are now planning the upcoming drill program
which will be a concurrent blend of testing for vertical and lateral extensions of the SFLD breccia, where Turmalina intersected high-grade gold-
silver mineralization in multiple holes (such as
36.95m
at 6.31 g/t gold, 122 g/t silver, and 0.88% copper, being 8.7 g/t gold equivalent; see
Turmalina News Release dated
December 9
, 2019 for details) and drilling on new exploration targets within a large cluster of breccias in close
proximity to SFLD. Exploration drilling will be based on the recently concluded field program which included 4494 soil samples, 1240 rock chip
samples and mapping of 60 breccias (rock chip samples from one of the high priority exploration targets included 79 g/t gold, 385 g/t silver and
7.7% copper, as detailed in Turmalina News Release dated
March 6, 2020
).
In response to the recent Covid-19 pandemic, Turmalina wishes to describe the Company's protocols and plans. Firstly, the Company notes that
there have been no confirmed nor presumptive cases of the COVID-19 pandemic at site. The Company is now in a planning phase for drilling which
primarily occurs offsite. While Turmalina maintains a corporate office in
Canada
our technical and managerial team operate remotely from individual
home offices located in
Peru
,
Brazil
,
Argentina
,
Canada
and
Asia
. The current compilation, analysis and modeling of recently collected data is being
done on a physically decentralized basis from these individual home offices as the Company prepares for drilling.
On the 19
th
of March the Argentine government declared a nation-wide mandatory quarantine, which is currently in effect from the 21
st
to the 31
st
of
March to reduce the spread of COVID-19. We are monitoring events closely and will review the situation upon the lifting of the quarantine, which
may be subject to change depending on conditions in the country. While work is ongoing by the technical and management team, in preparation for
drilling, the decision to commence drilling will be made once planning is complete, in consultation with local authorities and only when we believe we
can ensure the health and safety of our team and all concerned.
Turmalina has a strong balance sheet and a small but highly-experienced management team with low overheads. Turmalina is in a strong position to
execute our business plan.
Dr
Rohan Wolfe
, Chief Executive Officer of Turmalina, comments "
In these unprecedented times our main priority is the health and safety of our
team, contractors and host community. We are well prepared to operate over this period, with a strong cash position and a team used to working
together remotely from our home offices. With the completion of our extensive summer field program we are looking forward to reviewing the
large amount of data collected to date, and we will be ready to commence our Phase 2 drilling program the moment it is deemed safe to do so."
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.
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 characterized by open high-
grade mineralization 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 including but not limited to the timing of the completion of planning for and
the subsequent commencement of the drill program at the San Francisco Project or the likelihood of success resulting from such drill program
based on the results to date from completed exploration on the San Francisco Project. 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 quarantine period in
Argentina
will be lifted. There is uncertainty over the form and duration of
government measures related to COVID-19 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 measures as they occur.
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CNW 08:00e 23-MAR-20