Soma Gold Announces Results of New Drilling Program on Extension of the Cordero-Balvina Mineralization
Soma Gold Announces Results of New Drilling
Program on Extension of the Cordero-Balvina
Mineralization
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2020) -
Soma Gold Corp.
(TSXV: SOMA)
(WKN: A2P4DU)
(formerly
Para Resources Inc.) (the "Company" or "Soma") announced today the
results of the next phase of the ongoing drilling program to delineate the northern extension of the
Cordero - Balvina mine on the El Bagre Project.
About the El Bagre mining project
The underground gold project is located 167km northeast of Medellin, in the department of Antioquia,
within the jurisdiction of Zaragoza and El Bagre municipalities. The El Bagre underground gold operation
includes the La Ye and Mangos gold mine and the Cordero-Balvina gold exploration project
(see map
#1).
Geology of the project
The La Ye, Mangos and Cordero-Balvina veins are hosted in shear zones with fragile-ductile
deformation within carboniferous granite rocks of the El Carmen stock. Locally this plutonic body
corresponds to a leucocratic tonalite, of medium to coarse grain and phaneritic texture, composed of
quartz, plagioclase, amphibole, and biotite. Lode gold type mineralization trends north-northwest to
north-northeast and consists of milky white quartz containing native gold and up to 20% mixed sulphides,
dominated by pyrite with occasional galena, chalcopyrite and tellurides. Sulphides and native gold
distribution within the veins are patchy. The veins average approximately one meter in thickness and
range from half a meter to four meters in length. Related wall-rock alteration includes haloes of moderate
to pervasive sericite ± chlorite and carbonate replacing feldspar within the host intrusive.
Map #1.
Location of the El Bagre Mining Project.
To view an enhanced version of Map #1, please visit:
https://orders.newsfilecorp.com/files/3819/65999_a883663cd4761ad0_001full.jpg
Final Results
Operadora Minera has successfully completed 12,240m of its planned 15,000m of 2020 drilling
program. The results presented here correspond to 38 drill holes completed to date in the north
extension of the Cordero-Balvina target, located in the El Bagre Mining Project. The drill holes were
carried out approximately perpendicular to the vein direction as to have down-hole lengths as close as
possible to vein widths. The drilling results have extended the Cordero-Balvina vein extension to the
north by 500m and down dip by 200m. Ten drill holes intercepted high-grade gold over thick continuous
intervals,
and sixteen drill holes intersected low-grade gold.
Highlights:
Drill hole
BCNDDH_20_011
intersected
3.05 meters
, from 194.90 to 197.95m, of milky quartz-
carbonates vein with veining of sulphides mainly pyrite followed by galena and chalcopyrite and
small content of tellurides, grading
18.98 g/t Au
.
The above includes 0.80 meters of semi-massive sulphides grading
56.90 g/t Au
, starting at
195.70 meters.
Drill hole
BCNDDH_20_014
intersected
1.90 meters
, from 220.76 to 222.66m, of milky quartz-
carbonates vein with veining of sulphides mainly fine-grained pyrite and galena, grading
13.99 g/t
Au
.
The above includes
0.95 meters
of fine-grained veining of galena-pyrite, grading
23.00 g/t
Au
, starting at 221.71 meters.
Drill hole
BCNDDH_20_018
intersected
1.80 meters
, from 240.80 to 242.60m, of milky quartz-
carbonates vein with fine-grained veining of sulphides mainly pyrite, grading
17.65 g/t Au
.
The above includes
0.90 meters
of fine-grained veining of sulphides grading
23.07 g/t Au
,
starting at 240.80 meters and
0.60 meters
of fine-grained veining of sulphides grading
16.87 g/t Au
, starting at 242.00 meters.
Drill hole
BCNDDH_20_022
intersected
3.70 meters
, from 203.90 to 207.60m, of milky quartz-
carbonates vein with veining of sulphides mainly pyrite followed by galena and tellurides, grading
7.33 g/t Au
.
The above includes
0.80 meters
of fine-grained veining of galena and tellurides grading
19.69 g/t Au
, starting at 206.40 meters.
Drill hole
BCNDDH_20_34
intersected
1.55 meters,
from 243.9 to 245.45m, of milky quartz-
carbonates vein with veining of fine-grained pyrite and tellurides, grading
7.62 g/t Au.
Results to date on the El Bagre 2020 Drilling Program:
Drill Hole ID
Sample ID
From (m)
To (m)
Width (m)
FA
(Au ppm)
Mining
Concession
BCNDDH_20_001
YL-6535
138.35
138.85
0.50
1.95
6315
BCNDDH_20_002
YL-6560
146.00
146.50
0.50
3.11
6315
YL-6561
146.50
147.04
0.54
5.32
YL-6562
147.04
148.04
1.00
0.61
YL-6564
148.04
148.80
0.76
0.69
BCNDDH_20_003
YL-6582
151.96
152.86
0.90
72.30
6315
YL-6583
152.86
153.65
0.79
24.10
BCNDDH_20_004
YL-6608
175.95
176.50
0.55
0.20
6315
BCNDDH_20_005
YL-6620
141.20
142.20
1.00
81.07
6315
YL-6621
142.20
143.10
0.90
7.80
YL-6622
143.10
143.90
0.80
34.10
YL-6623
146.00
146.70
0.70
15.23
YL-6625
146.70
147.40
0.70
1.20
YL-6626
147.40
148.00
0.60
1.23
YL-6627
148.00
148.60
0.60
1.27
BCNDDH_20_006
YL-6640
124.00
124.75
0.75
0.30
6315
YL-6641
124.75
125.50
0.75
12.57
YL-6642
125.50
126.30
0.80
0.43
YL-6644
126.30
127.20
0.90
0.03
YL-6645
127.20
127.80
0.60
52.73
YL-6646
127.80
128.45
0.65
176.71
YL-6647
128.45
129.10
0.65
3.33
YL-6648
129.10
129.75
0.65
85.67
YL-6650
129.75
130.45
0.70
6.63
BCNDDH_20_007
YL-6666
229.65
230.35
0.70
1.70
7483
YL-6668
230.35
230.75
0.40
0.03
YL-6669
230.75
231.20
0.45
0.10
BCNDDH_20_008
YL-6682
190.52
191.05
0.53
0.03
6315
YL-6683
191.05
191.65
0.60
0.03
YL-6684
191.65
192.13
0.48
0.03
BCNDDH_20_009
YL-6692
168.32
168.75
0.43
0.30
7483
BCNDDH_20_010
YL-6700
188.40
189.20
0.80
0.60
6315
YL-6701
189.20
190.00
0.80
0.03
BCNDDH_20_011
YL-6712
194.90
195.70
0.80
7.12
7483
YL-6713
195.70
196.50
0.80
56.90
YL-6714
196.50
197.50
1.00
5.83
YL-6716
197.50
197.72
0.22
2.10
YL-6717
197.72
197.95
0.23
1.67
BCNDDH_20_012
YL-6731
208.96
209.66
0.70
0.10
6315
YL-6732
209.66
210.36
0.70
0.03
BCNDDH_20_013
YL-6726
211.40
211.70
0.30
0.83
7483
BCNDDH_20_014
YL-6750
220.76
221.71
0.95
4.97
7483
YL-6752
221.71
222.66
0.95
23.00
BCNDDH_20_015
YL-6746
264.95
265.45
0.50
0.03
7483
BCNDDH_20_016
YL-6777
245.40
245.95
0.55
3.67
7483
BCNDDH_20_017
YL-6768
246.40
246.80
0.40
0.53
7483
BCNDDH_20_018
YL-6813
240.80
241.70
0.90
23.07
7483
YL-6814
241.70
242.00
0.30
2.97
YL-6815
242.00
242.60
0.60
16.87
BCNDDH_20_019
YL-6824
221.15
221.68
0.53
0.48
7483
BCNDDH_20_022
YL-6897
203.9
204.8
0.9
8.98
7483
YL-6898
204.8
205.6
0.8
2.00
YL-6899
205.6
206.4
0.8
1.18
YL-6900
206.4
207.2
0.8
19.69
YL-6901
207.2
207.6
0.4
1.85
BCNDDH_20_023
YL-6913
224.5
225.2
0.7
1.15
7483
BCNDDH_20_034
YL-7053
243.9
244.7
0.8
9.10
7483
YL-7054
244.7
245.45
0.75
6.05
YL-7056
279.54
280.35
0.81
2.2
BCNDDH_20_035
YL-7061
197.85
198.3
0.45
0.13
6315
BCNDDH_20_036
YL-7066
257.5
258.2
0.7
1.58
7483
YL-7068
282.8
283.8
1.0
0.68
YL-7069
283.8
284.8
1
0.05
YL-7071
284.8
285.65
0.85
0.35
BCNDDH_20_037
YL-7079
179.5
180
0.5
0.03
6315
BCNDDH_20_038
YL-7098
200.3
201.3
1.0
1.5
6315
Note: Lengths are drill intersections and not necessarily true widths. Although true widths were not
consistently calculated yet for comparison purposes between holes, the down-hole lengths presented
here, it is expected to correspond to them. Negative drill-holes are not shown.
Pending ALS lab
report for the drill holes BCNDDH_20_34 to BCNDDH_20_38. These drill holes were analyzed in
La Ye internal laboratory.
Sixteen of the twenty-six drill holes in the 2020 program encountered low-grade gold due to NNW
trending faults, limiting the north extension of the Cordero-Balvina vein. Kinematic indicators on the fault
planes suggest a left-lateral displacement of the vein to the NNW. This hypothesis is supported by the
presence of small miners in this area.
(see map #2).
Map #2.
Plan view showing the fault-vein contact and the interpreted NNW displacement of the vein.
Note that gold grades are down-hole composites.
To view an enhanced version of Map #2, please visit:
https://orders.newsfilecorp.com/files/3819/65999_a883663cd4761ad0_002full.jpg
Next Exploration Step
According to the exploration strategy of the Company, the drill rig is now moving to explore the continuity
down-dip of Cordero-Balvina. This in-fill drilling plan of 2,700m will be focused on upgrading the inferred
resources into indicated resources
(see RPA NI 43-101 Technical Report)
and confirm the continuity
of the vein down-dip
(see cross-section #1).
Additionally, the exploration drilling of the Renacer
underground mine is planned. This drilling plan of 3,000m will be focused on demonstrating and
confirming the continuity of the Limon vein to the South at the hanging-wall of the El Limon fault zone (
see
cross-section #2)
. This drilling will begin in October when the second drill rig arrives at the project. The
Company's geological team has now completed the integration of historical data from the El Limon mine
into a 3D geological model built in Leapfrog Geo®. This geological model is a significant achievement
that helps understand the ore-controlling structures and reduces mineral exploration risks.
All permits, logistics and access related to both exploration programs are in place. Both drilling plans
are expected to complete by the end of December 2020.
West to East Cross-Section #1
showing the mineral resource classification of Cordero-Balvina project
made by RPA
(see NI-43-101 report)
and the planned drill-holes.
To view an enhanced version of West to East Cross-Section #1, please visit:
https://orders.newsfilecorp.com/files/3819/65999_a883663cd4761ad0_003full.jpg
North to South cross-section #2
showing the potential mineralized trend of Limon-Diamantina.
3,000m of the current drilling program is initially dedicated to confirm and delineate new mineral
resources at Renacer.
To view an enhanced version of North to South cross-section #2, please visit:
https://orders.newsfilecorp.com/files/3819/65999_a883663cd4761ad0_004full.jpg
QA/QC Controls
For exploration core drilling, the Company applied its standard protocols for sampling and assay. NQ
core was sawn or split with one half shipped to a sample preparation laboratory in Medellin run by ALS
Colombia Limited ("ALS"). Samples were then shipped for analysis to an ALS-certified assay laboratory
in Toronto, Canada. The samples were analyzed for gold using standard fire-assay on a 50-gram
sample with an AA finish. Multi-element geochemistry was determined by ICP-MS using either aqua
regia (ME-MS41) or four acid (ME-MS61) digestions. Blanks, duplicates and certified reference
standards were inserted into the sample stream to monitor laboratory performance. A comparison of
control samples and their standard deviations indicated acceptable accuracy of the assays and no
detectible contamination.
Due to COVID-19 contentions, one half of the samples was analyzed in
La Ye's internal laboratory
. The remainder of the core is stored in a secured storage facility for future
assay verification.
The laboratory used, ALS Minerals, is independent of the Company. The geological interpretations in
this news release are solely those of the Company's geological team.
Mr. Paulo J. Andrade, P. Geo., BSc. Senior Geologist, VP Exploration for Soma Gold Corp. is the
Qualified Person, within the meaning of NI 43-101. Mr. Andrade is satisfied that the analytical
procedures and best practices used are standard industry methodologies, and he has reviewed and
approved the technical information disclosed in this news release.
ABOUT SOMA GOLD:
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The
Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity
of 675 tpd. (permitted for 1,400 tpd.). The La Ye mine is currently operating and producing, and the El
Limon mine and mill are scheduled to begin operating in Q1 2021. Internally generated funds will be
used to finance a regional exploration program.
The Company also owns an exploration and development property near Tucuma, Para State, Brazil.
On behalf of the Board of Directors
"Javier Cordova Unda"
Chief Executive Officer and President
For further information, please contact Andrea Laird, telephone: +1-604-259-0302
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
All statements, analysis and other information contained in this press release about anticipated future
events or results constitute forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect"
and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. Forward-looking statements are subject to business and
economic risks and uncertainties and other factors that could cause actual results of operations to differ
materially from those contained in the forward-looking statements. Forward-looking statements are
based on estimates and opinions of management at the date the statements are made. The Company
does not undertake any obligation to update forward-looking statements even if circumstances or
management's estimates or opinions should change except as required by applicable laws. Investors
should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/65999