Turmalina Metals Expands and Advances San Juan, Argentinian Project
News Release
TSXV: TBX
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Wednesday, 7th December, 2022
Turmalina Metals Expands and Advances San Juan, Argentinian
Project
Vancouver, B.C. - Turmalina Metals Corp. (“ Turmalina”, or the “ Company”; TBX -TSXV, TBXXF -OTCQX,
3RI:FSE) is pleased to provide an update of results from ongoing exploration at the San Francisco de Los
Andes Project (“San Francisco” or the “Project”), located in the prolific San Juan province.
Highlights from this new release:
• Total land position expanded to 40,340 ha (403.4 sq km), one of the largest exploration land
positions in San Juan.
• Seven new high-priority targets identified.
• Work has included collection of 7,927 soil samples, 1,240 m of channel samples and 7,074 rock
chip samples.
• Highlight results from recent work include:
o Tres Magos (Figures 4 to 7)
▪ 18 rock chip samples and 50 channel samples over 1 g/t Au, including 12m @ 7.1
g/t Au and 115 g/t Ag, 3.7m @ 1.71 g/t Au and 102 g/t Ag, 3.5m @ 1.6 g/t Au and
30 g/t Ag and 3m @ 3.2 g/t Au and 186 g/t Ag;
o Veta Amarilla (Figures 8 and 9)
▪ 5 rock chip samples over 1 g/t Au and 8 rock chip samples over 100 g/t Ag;
o Breccia Ethan (Figures 10 and 11)
▪ 4 rock chip samples over 1g/t Au and 12 rock chip samples over 1% Cu;
o Veta Rica (Figure 12)
▪ 18 rock chip samples over 1 g/t Au, with up to 56 g/t Au.
Exploration efforts since April 2022 have been focused on defining and progressing additional targets
outside of the well -mineralized San Francisco breccia and the breccia targets tested in the Company’s
2021 drill program. Mining rights consolidation also continued during this time and the Company has
expanded its land holdings by 5,840 ha (17%) to a total area of 40,340 ha (Figure 1). The work from the
technical team has identified seven priority targets for follow up. A summary of the exploration efforts
are detailed in Table 1 and Figures 2 and 3, which illustrate the distribution of veins and breccias in the
northern portion of the project and arsenic results in soil geochemistry.
“The exploration team in Argentina has been diligently advancing the San Francisco
project under the leaders hip of Chico Azevedo.” stated CEO, James Roger s “We have
amassed a dominate and highly prospective land position in one of the most active
mining jurisdictions in Argentina and are advancing multiple diverse targets towards
being drill ready in 2023.”
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The Company has begun planning a drill program to test the priority targets.
Name Mineralisation Style Work Completed Planned Work
Tres Magos Intrusion-related,
stockwork veining with
sericitic alteration
Geological mapping,
soil sampling, 83 rock
chip samples and 391
channel samples over
439 meters.
Build roads to generate road
cuts for continuous channel
sampling in mineralised
areas and prepare access
and platforms for drilling
Veta Amarilla Intermediate
sulphidation epithermal
vein with Au-Ag-Pd
mineralisation
Geological mapping,
soil sampling, 52 rock
chip samples and 92
channel samples
Build roads for drill access
and expose the veins for
further channel sampling.
Breccia Ethan Quartz-tourmaline
Breccia with Au-Ag-Cu
mineralisation
Geological mapping,
soil sampling, 35 rock
chip samples
Build roads to expose the
breccia for continuous
channel sampling and
prepare access for drilling.
Breccia
Perdida
Quartz-tourmaline
breccia with Au
mineralisation
Geological mapping, 14
rock chip samples and
35 channel samples.
Build roads to expose the
breccia for continuous
channel sampling and
prepare access for drilling.
Veta Rica Quartz vein with Au-Ag
mineralisation
Geological mapping, 23
rock chip samples and
17 channel samples.
Build roads to expose the
veins for channel sampling
and prepare access for
drilling
Veta Miranda Quartz-tourmaline vein
with Au-Ag-Cu
mineralisation
Geological mapping, 49
rock chip and 83
channel samples
Build roads to expose the
veins for continuous channel
sampling and prepare access
for drilling.
Don David Low sulphidation Au-Ag
epithermal vein
Geological mapping and
173 rock chip samples.
Detailed mapping of the
Alumbrera vein system (1.8
km long and up to 20 m
thick) and further rock chip
and channel sampling
focused on the silicified
portions of the
predominantly carbonate
vein.
Table 1: Current exploration targets at the San Francisco project.
Tres Magos
Intrusion-related g old and silver minerali sation at Tres Magos is hosted in areas of intense quartz
stockwork, with iron oxide s after sulphides, hosted in strongly sericite-altered granodiorite (Figure 4).
Areas with continuous gold and silver grades (i.e. 12m @ 7.1 g/t Au & 115/t Ag) can reach up to 15 metres
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and are limited by the current level of exposure (Figure 5). Multigram gold and silver values are common
in channel samples, with up to 22 g/t Au and 699 g/t Ag over 1 metre samples (Figures 6 and 7). Work
planned includes opening road access and generating more exposures for continuous channel sampling
to better map mineralised areas for drill planning.
Veta Amarilla
A 900m long quartz vein system, up to 6 met res thick, composed of saccharoidal quartz and secondary
lead carbonates. Strong silver values are normally associated with high -grade lead mineralization, with
rock chip results of up to 3.5 g/t Au, 565 g/t Ag and 30 % Pb. Veta Amarilla has characteristics similar to
the old Castano Viejo district, where intermediate sulphidation epithermal veins were mined in the past.
Figures 8 and 9 show the geological map of Veta Amarilla with the main gold and silver results.
Breccia Ethan
An 80 m wide tourmaline breccia pipe with widespread copper oxides located at the contact between
sediments of the Agua Negra Formation and the Toco ta Granodiorite. Rockchip sampling of the breccia
has returned encouraging results of up to 3.3 g/t Au and 5.3% Cu (Figures 10 and 11).
Veta Rica
A 300m long quartz vein that is up to 8m thick. The vein is comprised of saccharoidal quartz with hematite
and boxwork after sulphides. Brecciated (including microbreccias) zones occur along the contact with the
granodiorite, with results up to 56.7 g/t Au, 32g/t Ag and 0.3% Pb (Figure 12).
Veta Miranda
A quartz-tourmaline vein system, hosted by Tocota granodiorites , with multiple veins: the central vein,
which is 1.5 km long and up to 8 m wide, and the Northern and Southern veins that are approximately
700 to 800 m long: totalling over 3 km of veins. Initial sampling along this extensive system has returned
up to 2 g/t Au, 411 g/t Ag and 5% Cu (Figures 13 & 14).
Don David
The Don David project (Figure 15) hosts the Alumbrera carbonate-silica vein, which has 1.8 km of strike
length and is up to 20 m thick. A bundant bladed calcite within the vein indicates a low sulphidation
epithermal origin with extensive boiling. These shallow boiling zones can form pockets of bonanza gold
grades in colloform and crustiform quartz immediately beneath the bladed calcite zones. Initial rock chip
sampling has returned up to 0.47 g/t Au in colloform silica banding.
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The Alumbrera vein is close to the Dios Protege and San Agustin vein systems: two formally mined vein
systems that are located outside the licence. Dios Protege and San Agustin are characterised by a deeper,
gold-bearing colloform and crustiform silica assemblage, indicating that similar gold mineralisation may
occur under the bladed calcite at Alumbrera. Our drill program at Alumbrera will focus on the testing the
vein at depth (Figure 16). Figures 17 and 18 show textures of the Don Guillermo and Alumbrera veins.
Update on Don David Option Agreement
The Company, through its wholly owned subsidiary, Aurora Mining S.A (“Aurora”)., entered into an option
agreement dated August 11, 2022, pursuant to which Aurora may acquire 100% of the Retamal and Don
David tenements (totalling 1,195 ha) from arms-length vendors, as p reviously discussed in the 2022Q3
MDA. Don David is neighbour to the historic Castano Nuevo gold and silver mine, which in the 1950’s
processed low sulfidation epithermal mineralization. Some of the mined veins continue onto the Don
David mining rights. Th e Company has agreed to pay US$1,565,000, incur US$750,000 of exploration
expenditures, and incur a minimum of 2,000 meters of drilling over a four-year period as described below:
Cash Payment
(USD $)
Cumulative Exploration
Commitment (USD $)
Minimum Drilling
Metres
August 11, 2022 (paid) 15,000
August 11, 2023 50,000 2,000
August 11, 2024 100,000 $300,000
August 11, 2025 150,000 $600,000
August 11, 2026 250,000 $750,000
The vendor retain s a NSR of 2%, of which the Company has the right to purchase 1% (50%) for
US$1,000,000.
Amendment of El Tapau and Cerro Negro Agreements
The Company has re -negotiated and amended the El Tapau and Cerro Negro option agreements which
represent 3,404 ha of the Property . The Company paid US$100,000 to the optionors of the El Tapau
project and paid US$200,000 to the options of the Cerro Negro project (US$300,000 total) to extend the
final payments (US$1,000,000 on each property) by one year to November 24, 2023. All other terms of
the original option agreements remain the same.
About the San Francisco Project
The San Francisco de Los Andes (SFDLA) project is located in the pro -mining province of San Juan,
Argentina, a country where there are currently 12 operating mines, 5 in construction and 20 in pre -
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feasibility/feasibility stage. The project benefits from well -developed infrastructure a nd is 130 km
northeast of the regional capital San Juan.
The SFDLA Project was assembled around one of the highest-grade tourmaline breccias ever discovered,
of the same name. Limited shallow drilling and channel sampling at the SFDLA Breccia returned
spectacular grades of 2 -12 g/t gold and 0.3 to 3% copper over 20 -40 m intervals. The mineralogy and
geological setting indicates that only the top of the breccia pipe has been exposed . Furthermore, San
Francisco de Los Andes is only one of over 60 breccia bodies mapped to date on the property.
Turmalina has developed an operational centre in the town of Villa Nueva , where the local community
welcomes new exploration efforts in the region.
Turmalina has several option agreements to acquire 100% of the SFDLA project.
Other Projects
The 677 ha Chanape copper-gold project is located approximately 87 km east of Lima and is accessed via
24 km of unpaved road from Turmalina’s operational centre in the town of San Damian. The Project
contains several strongly Cu-Au-Ag mineralised tourmaline breccia pipes that are clustered around a large,
Cu-Mo mineralised intrusion. Historical drill holes have confirmed minerali sation in 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 m has also been identified as a potential target for
bulk tonnage mineralisation, hosting a gold anomaly that is coincident with a chargeability high (IP)".
Turmalina has an option to acquire 100% of the Chanape Project.
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 Turmalina 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
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gold-copper-silver discoveries who are highly experienced in t his deposit style. Our projects are characterised by
open high-grade mineralization 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 al 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. Drill core is collected at the drill site and transported
by vehicle to the Turmalina core logging facility where recovery measurements are taken before the core is
photographed and geologically logged. The core is then cut in half with a diamond s aw 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 metre
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.
For rockchip samples multiple rock fragments are broken off an outcrop using a geology hammer and combined to
make a ~3kg sample. Channel samples are collected as small contiguous rock chip samples over a 1m interval (in
mineralised zones) or 2m interval (for areas adjacent to mineralisation) . The channel samples for the interval are
combined into one ~3kg sample.
All bagged samples are 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 with 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.
Turmalina Metals independently inserts certified control standards, coarse field blanks and duplicates into the
sample stream to monitor data quality . These standards are inserted “blindly” to the laboratory in the sample
sequence prior to departure from the Turmalina Metals core storage facilities. For both rockchip and channel
samples 4 QA/QC samples are added per 80 sample dispatch to the assay laboratory: 1 blank sample, 2 commercially-
prepared standard samples of known composition and 1 control sample from the SF mine. 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 standard, blank , duplicate and control samples are verified and checked by the project
geologist and the Qualified Person. All such QA/QC assay results from sample dispatches reported in this news
release have be 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, analytical and technical data contained in this news release pertaining to the San
Francisco and Turmalina projects has been reviewed , verified and approved by Dr. Rohan Wolfe, Technical Advisor,
MAIG, who serves as the Qualified Person (QP) under the definition of National Instrument 43-101.
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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 act ual 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. Current exploration targets at the 40,340ha San Francisco project.