Turmalina Metals to Commence Drilling
Turmalina Metals to Commence Drilling
TSXV:
TBX
VANCOUVER
,
May 20, 2020
/CNW/ - Turmalina Metals Corp. ("
Turmalina
", or the "
Company
";
TBX-TSXV, TBXXF-OTCQX) is pleased to announce that, during the past 48 hours, it has received
approval from the regulatory authorities in San Juan,
Argentina
of its recently submitted biosecurity
protocols and as such can immediately mobilize to the
San Francisco
gold-silver-copper project (the
"
Project
") to commence drilling.
Highlights:
Mobilization to site starting immediately.
Upcoming drill program a concurrent blend of drilling at SFDLA breccia pipe and exploration
drilling of newly discovered gold-copper-silver mineralised breccia pipes.
Commencing drilling with a strong cash position and balance sheet.
Robust COVID-19 protocols in place for drilling program.
Rapid response of government and community to COVID-19 pandemic has led to only 3 cases
of COVID-19 in San Juan state to date.
This phase two drill program will be a concurrent blend of drilling at the
San Francisco
de Los Andes
(SFdLA) breccia, to follow up on a very successful initial drill program while also commencing
exploration on multiple newly identified and sampled breccias that present high priority exploration
targets.
Two diamond drill rigs will be utilized to drill a total of 4500 meters during this drill campaign.
Approximately
2500 m
will be drilled at the SFDLA breccia pipe, testing for extensions to high-grade
gold-copper-silver mineralization encountered in the first phase of drilling. The remaining
2,000 m
will
test mineralized breccia pipes identified during the recently completed mapping program. Please
refer to our press release dated
March 6, 2020
for further details of the planned drill program.
SFDLA Drilling
Initial drilling at the SFdLA breccia (see Turmalina News Release dated
December 2, 2019
for full
details of results including information on true widths) returned significant gold-rich intercepts
including:
36.95m
@ 6.31 g/t Au, 122 g/t Ag & 0.88% Cu (8.7 g/t AuEq)
from
34.5m
(SFDH-001)
85.30m
@ 4.43 g/t Au, 109 g/t Ag & 0.79% Cu (6.6 g/t AuEq)
from
27.7m
(SFDH-002)
Including
22.70m
@ 6.66 g/t Au, 86 g/t Ag & 1.46% Cu (9.46 g/t AuEq)
from
28.3m
Including
25.00m
@ 5.29 g/t Au, 117 g/t Ag & 0.62% Cu (7.4 g/t AuEq)
from
61m
50.75m
@ 3.62 g/t Au, 82 g/t Ag & 1.90% Cu (6.7 g/t AuEq)
from
44.25m
(SFDH-003)
Including
26.75m
@ 5.47 g/t Au, 97 g/t Ag & 3.30% Cu (10.6 g/t AuEq)
from
44.25m
85.00m
@ 2.65 g/t Au, 88 g/t Ag & 0.57% Cu (4.32 g/t AuEq)
from
33m
(SFDH-005)
Including
21.00m
@ 5.05 g/t Au, 173 g/t Ag & 0.80% Cu (8.0 g/t AuEq)
from
35m
27.52m
@ 3.00 g/t Au, 124 g/t Ag & 0.37% Cu (4.8 g/t AuEq)
from
56.48m
(SFDH-007)
Including
8.52m
@ 4.91 g/t Au, 140 g/t Ag & 0.24% Cu (7.1 g/t AuEq)
from
56.48m
And
16m
@ 0.8 g/t Au, 281 g/t Ag & 1.59% Cu (6.1 g/t AuEq)
from
150m
.
Exploration Drilling on New Targets
Over summer Turmalina completed a project-wide 3400 ha mapping and sampling program. This
program included collection of over 4,494 soil samples, 1,240 rock chip samples and mapping of
over 60 breccias.
The upcoming drilling program will drill test four of these newly discovered breccia pipes. These new
breccia pipes are all located in close proximity to SFDLA. Rock chip samples from one of these new
targets included 79 g/t gold, 385 g/t silver and 7.7 % copper: assay grades higher than those
obtained from rock chips over the SFdLA breccia pipe drilled by the Company in 2019.
Energold Drilling has been contracted to conduct the upcoming drilling program at the project. To
minimize the risk of COVID-19 transmission to our team and the community the Company will apply
rigorous protocols throughout the program. These procedures will include social distancing, improved
hygiene, health screening of all staff and contractors, longer rosters at our remote field camp and an
onsite medical professional to monitor health and ensure procedures are followed.
Dr.
Rohan Wolfe
, Chief Executive Officer, states:
"We are excited to commence Phase 2 drilling at
San Francisco
. Thanks to the rapid
response of the government and community the state of San Juan has been largely
unaffected by the COVID 19 pandemic, with only a handful of cases to date. We welcome
the return to exploration and will enforce a rigorous set of procedures to protect our team
and the community. Our Phase 2 drilling program at the SFdLA breccia pipe will test below
and along-strike from the high-grade intersections returned in our 2019 Phase 1 drill
program, which only tested the top
150m
of the breccias pipe. In addition, we will drill test
four other breccias pipes identified during our summer field program that returned
significant rock chip assay results. With our raising of
$9.7M
earlier in the year we now
have a strong balance sheet to support the exploration and development of our projects."
About the San Francisco Project, San Juan,
Argentina
The 3404 ha
San Francisco
project is located in San Juan,
Argentina
. The project area contains
more than 60 tourmaline breccia occurrences, several of which have supported small-scale mining.
The Company is focused on mapping and sampling the breccias, and drill testing prioritized targets.
Work Program
The summer field program at
San Francisco
extended geological mapping, portable XRF analysis
and geochemical sampling (rock chips and soils) over the entire Project area. High-priority breccia
targets defined by this first-pass sampling were subject to detailed mapping and channel sampling
leading to the selection of drill targets for the pending drill program. The company is also
consolidating our regional holdings as
San Francisco
is located within an 80 km long gold-copper
mineralised belt.
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 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 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.
There is no assurance when the government-imposed measures related to COVID-19 in
Argentina
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 measures as they occur.
View original content to download multimedia:
http://www.prnewswire.com/news-releases/turmalina-metals-to-commence-drilling-301062308.html
SOURCE
Turmalina Metals Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2020/20/c6902.html
%SEDAR: 00048174E
For further information:
For Investor Relations enquiries, please contact Bryan Slusarchuk at +1
833 923 3334 (toll free) or via [email protected].
CO: Turmalina Metals Corp.
CNW 03:30e 20-MAY-20