Wednesday 14th December, 2022 Drilling at Chanape Continues to Intersect High Grade Au-Ag-Cu Mineralisation
News Release
TSXV: TBX
www.turmalinametals.com
Wednesday 14th December, 2022
Drilling at Chanape Continues to Intersect High Grade Au-Ag-Cu
Mineralisation
Vancouver, B.C. - Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI-
FSE) is pleased to report additional drilling results at the Chanape project (“Chanape” or the “Project”),
located 87km east of Lima, Peru. Drilling has continued to intersect extensive gold-silver mineralisation in
the first breccias tested by the Company. This release summarizes the second batch of results from the
program covering 4 holes and 704.8 m of drilling. See press release of 15th November for the results of
the initial 4 holes (1003.7m). Selected intercepts from this second batch of results includes:
Breccia Clint:
• 48.05m @ 1.67 % Cu, 0.9 g/t Au & 178 g/t Ag (3.8% CuEq); CHT-DDH-041 from 165.7m.
o Including 2.2m @ 10.8 % Cu, 0.7 g/t Au & 3,349 g/t Ag (40% CuEq) from 165.7m.
o Including 20.4m @ 2.2 % Cu, 1.0 g/t Au & 47 g/t Ag (3.3% CuEq) from 192.19m.
• 14.39m @ 2.2 % Cu, 0.98 g/t Au & 56 g/t Ag (3.3% CuEq); CHT-DDH-041 from 222.27m.
Veta Colorada:
• 1.8m @ 2.35 g/t Au, 11 g/t Ag & 0.18 % Cu (2.7 g/t EqAu); CHT-DDH-040 from 77.67m
The Chanape project is characterised by multiple tourmaline gold-silver-copper (Au-Ag-Cu) breccia pipes,
with over fifty identified to date. Initial results for Breccia 8, Breccias 10 & 11 and the San Antonio Breccia
were reported on 15th November. Results are now available for hole CHT-DDH-041, at Breccia Clint, and
holes CHT-DDH-038, 039 and 040, at Veta Colorada.
Drill hole CHT -DDH-041 tested the extent of shallow Au -Ag-Cu mineralisation at the Breccia Clint
tourmaline breccia , which does not outcrop , and confirmed gold, silver and copper mineralisation,
including zones with very high silver and copper grades. Drill holes CHT-DDH-038, CHT-DDH-039 and CHT-
DDH-040 tested the Colorada quartz vein at depths of 40 to 70m below high -grade gold observed on
surface and confirmed the continuity of the vein at depth (Figures 1 to 4).
The Au -Ag-Cu results continue to indicate strong potential for high -grade copper -gold-silver
mineralization at the Chanape cluster of breccias. The current drill program has been completed with a
total of 2257.7m, with results pending for the last two holes. Drilling will be resumed after the raining
season, which lasts from December to the end of March.
Mr James Rogers, Chief Executive Officer, states:
“Having multiple breccias in the cluster at Chanape returning high grade results is
critical for the Turmalina team in advancing this project. This phase of drilling has
returned excellent results so far, including some spectacular copper and silver assays,
and we are looking forward to receiving results from the final holes of this program.”
News Release
TSXV: TBX
www.turmalinametals.com
Tourmaline breccias typically display strong vertical zonation, with Au-Ag in the narrow top (the ‘roof’) of
the breccia pipe underlain by deeper and broader high-grade Cu-Au mineralisation. This is seen in historic
drilling at Chanape, where shallow Au-Ag bearing breccias such as Breccia 8 (i.e. 64m @ 0.87 g/t Au & 25
g/t Ag from 0m; CHDDH012) are found 200m above deeper Cu-Au breccias such as Clint (i.e. 71m @ 1.92
% Cu, 0.81 g/t Au & 41 g/t Ag from 232m; CHDDH013
Table 1 Phase 1 drill hole intersections at the Chanape Project.
Hole ID From(m) To(m) Interval(m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) AuEq
(g/t)
CuEq
(%)
CHT-DDH-038 composite 61.8 62.82 1.02 2.42 6 0.13 0.02 0.01 2.69 1.79
CHT-DDH-038 including 62.3 62.82 0.52 4.03 9 0.20 0.02 0.01 4.45 2.95
CHT-DDH-039 composite 74.9 76.6 1.70 2.27 8 0.18 0.03 0.06 2.65 1.75
CHT-DDH-039 including 75.8 76.6 0.80 4.11 10 0.20 0.06 0.08 4.54 3.01
CHT-DDH-040 composite 69.9 70.6 0.78 1.69 3 0.08 0.03 0.00 1.85 1.23
CHT-DDH-040 composite 77.67 79.47 1.80 2.35 11 0.18 0.05 0.02 2.76 1.83
CHT-DDH-040 including 77.7 78.44 0.77 4.87 19 0.33 0.09 0.02 5.61 3.72
CHT-DDH-041 composite 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 composite 222.27 236.66 14.39 0.98 56 2.17 0.05 0.09 4.98 3.30
*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 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-038 362328 8681780 4667 187 -61 176.5 Veta Colorada
CHT-DDH-039 362328 8681780 4667 155 -60 109.6 Veta Colorada
CHT-DDH-040 362328 8681780 4667 222 -59 116.2 Veta Colorada
CHT-DDH-041 362179 8681829 4617 89 -68 302.5 Clint breccia
News Release
TSXV: TBX
www.turmalinametals.com
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,
mineralized copper-molybdenum intrusion. Historical drill holes have confirmed mineralization on breccia
pipes and recent surface geological mapping have added new mineralized 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 mineralization, with gold anomalism coincident with a geophysical anomaly (IP).
Turmalina has an option to acquire 100% of the Chanape Project.
Other Projects
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 latest 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 Turmalina Metals and our projects: 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 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 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.
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 Gold-Silver-Copper Project” dated
July 5, 2022 under the Corporation’s profile at www.sedar.com.
News Release
TSXV: TBX
www.turmalinametals.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.
Turmalina Metals independently inserts certified control standards, coarse field blanks and duplicates into the
sample stream to monitor 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 been 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", "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 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
News Release
TSXV: TBX
www.turmalinametals.com
pandemic on service providers located throughout South America, may lead to delays in the future reporting of
results.
News Release
TSXV: TBX
www.turmalinametals.com
Figure 1 – Chanape Project – Geology and Drilled Breccias. The Project is characterised by over 50 tourmaline
breccia pipes (purple) and multiple epithermal vein systems (red). This release reports on drilling at the Colorada
vein and Clint breccia.
News Release
TSXV: TBX
www.turmalinametals.com
Figure 2 – Location of current drill holes at Chanape. CHT-DDH-038, CHT-DDH-039 and CHT-DDH-040
test the Colorada vein, and CHT-DDH-041 tests the Clint breccia.
News Release
TSXV: TBX
www.turmalinametals.com