Wednesday 15th November, 2023 Turmalina Expands Mineralization at Veta Rica and Discovers New Mineralized Zones
Wednesday 15th November, 2023
Turmalina Expands Mineralization at Veta Rica and Discovers New
Mineralized Zones
Vancouver, B.C. - Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI-
FSE) is pleased to announce results from continued surface work at the Company’s 403 km2 San Francisco
project located in the prolific mining province of San Juan, Argentina (the “Project” or “San Francisco”).
Following the recent discovery of the high -grade epithermal gold v ein system at Veta Rica (see
announcement dated October 10 th, 2023) field work has focused on mapping and sampling the
surrounding area. This surface work has discovered m ultiple mineralized veins in the immediate vicinity
of Veta Rica and has also discover ed two new zones of similar epithermal mineralization located
approximately two and four kilometres northwest of Veta Rica : the Machete and Destino systems
respectively.
Highlights of Veta Rica Target Area
• Recent mapping has traced the Veta Rica epithermal vein for over 700 m on surface with surface
widths of 1 to 6 m: Surface gold assays are typically between 0.9 and 2.7 g/t Au but with higher
grade zones of up to 56.6 g/t Au.
• This mapping has also identified multiple mineralized veins adjacent to, and parallel with, the Veta
Rica vein (Figures 2, 3 & 4 ) with similar average grades ( typically 0.45 to 4 g/t Au) . Detailed
sampling is underway to identify potential high-grade zones in these newly discovered veins.
• Recently announced drill holes at Veta Rica returned:
o 4.4 m @ 6.4 g/t Au; SFDH-078 from 36.6 m.
Including 0.5 m @ 28.6 g/t Au from 36.6 m.
And 0.45 m @ 14.12 g/t Au from 38.85 m.
o 8.75 m @ 3.5 g/t Au; SFDH-079 from 42 m.
Including 6.0 m @ 4.6 g/t Au from 42 m.
Including 1.18 m @ 17.9 g/t Au from 42 m.
Highlights of Destino Target Area
• A n ew s ystem with at least four parallel epithermal quartz veins , and two adjacent breccias,
located 3 km northwest of Veta Rica (Figure 2, 7, 8 & 9).
• Initial sampling (56 samples) of the veins, each with over 200 m of strike length, returned similar
gold grades to Veta Rica, with 10 samples over 1 g/t Au, up to a maximum of 6.1 g/t Au (Figure 7).
• In the southern portion of the Destino target area, 34 samples taken from a 100 by 130 m breccia
pipe (the Tiki-Tiki breccia) returned four samples over 1 g/t , up to a maximum of 22 g/t Au, 227
g/t Ag and 0.9% Pb.
Highlights of Machete Vein zone
• Located between Veta Rica and Destino, 2.7 km northwest of Veta Rica drilling, 3 rock chip
samples taken from the Machete epithermal quartz vein returned grades of 1.1 to 2.7 g/t Au and
28 to 170 g/t Ag. Follow up sampling is underway (Figures 2 & 9).
Mr James Rogers, Chief Executive Officer, states:
“After an exciting discovery at Veta Rica, t he exploration team quickly went to work and we have now
greatly expanded the area of known mineralization at Veta Rica, with the vein traced for over 700 m strike
length and several parallel veins identified. Additionally, the team has already identified two new
epithermal gold vein and breccia systems at Destino and Machete, with high-grade gold rock chip samples
at surface. Turmalina is excited at the opportunity these nearby vein systems represent for our team to
add value to our well positioned land package. With these recent discoveries it is becoming clear we have
discovered a new epithermal district in this established gold belt, and we look forward to keeping the
market informed of our exploration progress over the coming months in what is a very exciting time for
the Company.
Figure 1: Regional view northwest showing the block of properties controlled by Turmalina Metals with the drill target locations
drilled in this campaign and the previously drilled San Francisco Breccia.
The Project area is located within a known epithermal gold belt. The nearest such epithermal gold system
is located at Austral Gold’s Casposo mine, 70 road kilometres south of the Veta Rica discovery. Casposo
produced 283,000 oz of gold and 9.6 M oz of silver with average grades of 4.8 g/t Au and 183 g/t A g
between 2011 and 2015 and another 32,000 oz of gold and 3 M oz of silver between 2017 and 2019 before
the mill was placed back into care and maintenance (2017-2019 Austral Gold Annual Reports). The historic
epithermal district of Castano Viejo is located 20 km to the south of Veta Rica (Figure 1). Castaño Viejo
was operated by the National Lead Company S.A between 1956 and 1964, with an estimated reserve of
614,000t @7.4% Pb, 7.5% Zn, 0.15% Cu and 72 g/t Ag (Angeleli, 1984).
Drill planning and budgeting are underway for a 4,000 m diamond drilling program focussed on testing
and expanding targets within the Destino and Veta Rica target areas. Surface works are continuing with
crews focussed on additional surface sampling and mapping. After receiving results of the current
sampling program, areas will be ranked and selected for trenching and construction of access roads prior
to drilling.
Figure 2: Geologic map showing veins, breccias and gold in rock chip samples across the Veta Rica, Destino and Machete target
areas. Mapping and sampling have identified multiple mineralised veins at Veta Rica, M achete and Destino, and mapping is
currently underway to define a potential new target in the top right of the map (21 g/t Au).
Figure 3: Veta Rica Surface map and sections showing drill holes and distribution of r ock chip sampling of the Veta Rica vein.
Sampling 300 m west of the drill pads has returned grades of up to 27 g/t Au, while samples 700 m west of the drilling has returned
grades of up to 2.7 g/t Au.
Figure 4: Drone photo looking northwest showing 700 m strike length of Veta Rica, select surface roc k chip samples and
established drill pads. The Veta Rica vein remains open to both the west and, in the foreground, to the east where it passes under
shallow cover.
Figure 5: Photo of core in hole SFDH -078 and hand sample from outcrop at the extension along strike of Veta Rica: B recciated
crystalline quartz surrounded by intense sericite alteration with iron oxide and jarosite, formed after weathering of sulphides.
Figure 6: Examples of high-grade gold mineralisation in core samples and from an outcrop along strike from drilling at Veta Rica.
Mineralisation is hosted in crystalline quartz (commonly brecciated) with intense sericite alteration and hematite-goethite-
jarosite, formed by the weathering of sulphides.