SOMA GOLD Extends Venus Vein with Drilling Intersects of 13.9 G/T Au over 7.55m, Including 48.6 G/T Au over 1.45m and 24.7 G/T Au over 1.3m, at the Cordero MINE, El Bagre, Antioquia, Colombia
SOMA GOLD EXTENDS VENUS VEIN WITH
DRILLING INTERSECTS OF 13.9 g/t Au OVER
7.55m, INCLUDING 48.6 g/t Au OVER 1.45m
AND 24.7 g/t Au OVER 1.3m, AT THE
CORDERO MINE, EL BAGRE, ANTIOQUIA,
COLOMBIA
VANCOUVER, BC
,
Nov. 12, 2024
/CNW/ -
Soma Gold Corp.
(TSXV: SOMA) (WKN: A2P4DU)
(OTC: SMAGF) (the "
Company
" or "
Soma
") is pleased to announce initial results from the 2024
diamond drill program targeting the "Venus Gap" at the Cordero Mine on the Bagre Project in central
Colombia
(Figure 1). Ten diamond drill holes, totaling
1,476m
of underground drilling, were targeted
to infill a gap in the historic drilling north of the Venus Vein (see Figures 2 and 3). Previously, mining
on the Venus Vein encountered a complex zone of mafic dykes and lower-grade, thin anastomosing
quartz veins and was terminated. The drilling results in this release extend the strike of the vein to
the northwest and down dip to the northeast.
Highlights include the following drill intercepts:
BAZUDDH-24-018:
5.2m
at 16.1g/t Au, including
0.8m
at 94.3g/t Au
RVDDH-23-005:
3.3m
at 28.3g/t Au, including
0.5m
at 6.3g/t Au
RVICDDH-24-018:
1m
at 12.5g/t Au
RVICDDH-24-021:
1m
at 11.2g/t Au, including
0.4m
at 27.6g/t Au
RVICDDH-24-024:
7.55m
at 13.9g/t Au, including
1.3m
at 24.7g/t Au
and
1.45m
at 48.6g/t
Au
VICDDH-23-006:
3.5m
at 10.7g/t Au, including
1m
at 21.3g/t Au,
0.85m
at 10.7g/t Au, and
0.65m
at 9.0g/t Au
The Cordero Deposit is hosted in the El Carmen Stock, comprised of coarse-grained tonalite,
diorite, and gabbroic phases. The quartz veins are laminated fault-fill veins within a sinistral brittle-
ductile shear zone. They are interpreted as conjugate shears in a steeply-dipping, north-striking
regional shear zone. The controlling shear zone also hosts the Los Mangos Deposit, located 2.8
kilometres to the north. The quartz veins within the Cordero Deposit form a series of en echelon
segments that consistently step to the right along strike. The veins have been repeatedly reactivated
and exhibit three distinct phases of development: early barren quartz veins, sphalerite + galena +
pyrite + gold mineralization controlled by microfractures, and brittle fracturing along the vein margins
filled with quartz, pyrite, tellurides, and gold. Gold mineralization is associated with the latter two
phases of vein development. The final stage of brittle fracturing and micro-breccia is commonly
associated with 'bonanza' gold grades. The veins are subsequently crosscut by aphanitic mafic
dykes and numerous brittle faults. The brittle faults are generally dextral and offset the quartz veins
from <
1.0m
to 10's of metres. The late brittle faults commonly dismember the mineralized veins into
short strike-length segments, the continuity of which is difficult to discern from drill data. The
Cordero Deposit is informally divided into five main zones: Athenas, Cordero, Venus, Venus Gap,
and Victoria Ramp zones (Figure 2).
Chris Buchanan
, Soma's Vice President of Exploration, stated, "Extending the strike length of the
Venus Vein is an important development for the Cordero Mine. Drilling in this area has returned
some of the broadest, high-grade intervals in the mine. We look forward to further exploring this
zone and extending it along strike and dip."
Table 1 presents the composited assay results from ten drill holes at the Venus Gap. Assays in the
drilling range from below detection to a maximum grade of 94.3g/t Au. The drilling currently covers
approximately
140m
of strike length between the northern limit of the Venus Vein and the Victoria
Ramp area. The highlight of the drill program is the presence of wider zones of mineralized
stockwork in the footwall of the principal gold-bearing quartz veins and in enclaves of wall rock
between anastomosing veins segments. RIVICDDH-24-024 intersected the widest interval of gold
mineralization in the Venus Gap with a total width of
7.55m
and an average grade of 13.9g/t gold.
The high-grade gold is concentrated in two principal quartz veins that bound an interval of lower-
grade, thin stockwork veins (Plate 1). The stockwork intervals are typically moderate to low-grade
material but locally exhibit 'bonanza' grade gold assays. The underground geology team is currently
assessing these stockwork zones to assess the continuity of grade and the viability of including
these zones as ore when they're encountered in the mine.
Figures 3 and 4 present the geological interpretation of the Venus Gap zone, cross-cutting dykes,
and late brittle faults. The younger dykes and faults dismember the quartz vein into upper and lower
segments separated by approximately
35m
of normal displacement along the faulted contact of a
sub-vertical mafic dyke. The location of high-grade composite assays in Table 1 is highlighted by
representative spheres and labels in the section.
A long section of the drill intercepts is presented in Figure 5. The high-grade intercepts delineate two
segments of the vein system that are separated by a cross-cutting mafic dyke swarm. The vein
segments are located proximal to existing mine workings in the Victoria Ramp and Venus Vein
areas. A lower stope, the 1600 stope, is currently being mined, and access is planned from the
Victoria Ramp workings to access the upper veins. Additionally, mining has restarted at the north
end of the Venus vein to follow the veins northwestwards between the mafic dykes. Underground
drilling is ongoing in this area to determine the strike and dip extents of the Venus Gap quartz
veins.
In addition to supporting mining operations at Cordero Mine, Soma's exploration team continues to
evaluate numerous small-scale mines in the vicinity of Machuca. Two out of three planned soil grids
have been completed. These grids were designed to determine the continuity of gold mineralization
between the informal mines along the Otú Fault. The main Machuca soil grid has delineated three
soil anomalies up to
900m
along strike. Follow-up prospecting along the anomalies is currently
underway, and Soma expects to initiate drilling on the soil anomalies in Q3 2024. Soma also
continues to work with the local communities on the Machuca Property as part of its ongoing ESG
program.
The Otú fault system ("Otú Fault") has a strike length of over 100 km, from Aris's Segovia-
Remedios mines (TSX:ARIS) in the south to Nechi in the north (where it is buried by younger
sedimentary overlap sequences). Soma's property holdings now cover more than 56km of this strike
length. High-grade gold mineralization occurs along the entire strike length of the Otú Fault. The
high-grade gold occurs in brittle-ductile to brittle quartz veins that form during later stages of
deformation along the Otú Fault. Across the district, the quartz veins display orientation patterns that
suggest the veins form in conjugate faults associated with brittle faulting on the Otú Fault. Notable
mines along the Otú fault trend include Segovia-Remedios, La Aurora, El Limon,
Le Ye
, Los
Mangos, and Cordero. The Machuca Property is located along a critical segment of this regional
fault structure and contains numerous indications of high-grade gold mineralization.
Table 1: Composited Au assays from Venus Gap are drill holes.
Hole ID
From (m)
To (m)
Composited Au
(g/t)
Composited
Length (m)
BAZUDDH-24-018
52.45
57.65
16.1
5.20
includes
52.45
53.25
94.3
0.80
includes
55.30
55.65
4.8
0.35
RVDDH-23-005
29.90
33.20
28.3
3.30
includes
32.70
33.20
6.3
0.50
RVICDDH-24-018
71.60
73.10
6.6
1.50
includes
71.60
72.60
8.8
1.00
and
134.00
135.00
12.5
1.00
and
138.40
140.80
5.4
2.40
includes
139.40
140.10
8.5
1.40
and
144.55
145.55
2.7
1.00
RVICDDH-24-019
121.50
123.00
4.7
1.50
includes
121.50
122.00
8.6
0.50
and
134.50
135.50
1.4
1.00
RVICDDH-24-020
111.00
112.50
4.7
1.50
includes
111.65
112.50
8.0
0.85
RVICDDH-24-021
46.00
47.00
3.3
1.00
and
76.50
77.50
13.7
1.00
includes
77.10
77.50
34.3
0.40
and
81.50
82.50
11.2
1.00
includes
82.10
82.50
27.6
0.40
and
128.20
132.70
9.3
4.50
includes
128.80
129.40
8.3
0.60
includes
130.95
131.80
27.8
0.85
RVICDDH-24-022
86.10
87.60
2.1
1.50
includes
86.10
86.60
5.6
0.50
RVICDDH-24-023
45.90
46.90
6.7
1.00
includes
46.40
46.90
13.5
0.50
and
151.00
157.75
3.6
6.75
includes
152.05
152.60
7.9
0.55
includes
155.75
157.75
5.9
2.00
and
159.95
161.70
2.7
1.75
RVICDDH-24-024
71.60
74.60
8.9
3.00
includes
71.60
72.45
10
0.85
includes
74.20
74.60
45.1
0.40
and
140.40
147.95
13.9
7.55
includes
140.40
141.70
24.7
1.30
includes
146.50
147.95
48.6
1.45
and
151.50
153.30
4.5
1.80
includes
152.30
153.30
6.4
1.00
VICDDH-23-006
100.10
101.80
4.1
1.70
and
151.15
154.65
10.7
3.50
includes
151.15
151.80
9.0
0.65
includes
151.80
152.80
21.3
1.00
includes
152.80
153.65
10.7
0.85
and
158.40
161.20
1.7
2.80
Note: Intervals are composited to a 1m minimum stope width for conventional mining. The drill holes
are targeted to intersect the vein orientation as perpendicular as possible. The true width is
approximately 70% to 90% of the drilled width.
Figure 1: Location of the Cordero Mine, El Bagre, Antioquia, Colombia (CNW Group/Soma Gold
Corp.)
Figure 2: Location of different zones within the Cordero Deposit (CNW Group/Soma Gold Corp.)
Figure 3: Plan view of drill hole locations at the Venus Gap Zone (CNW Group/Soma Gold Corp.)
Figure 4: Plan view of the drill hole intercepts in the Victoria Gap Zone (CNW Group/Soma Gold
Corp.)
Figure 5: Long Section of the Venus Gap Zone indicating the location of the high-grade Intercepts
(CNW Group/Soma Gold Corp.)
Plate 1: Core photo of the 7.55m intercept in drill hole RVICDDH-24-024 in the Venus Gap Zone
(CNW Group/Soma Gold Corp.)
QA/QC Statement
Soma follows a comprehensive QA/QC program to ensure the reliability of assay data collected
from its exploration programs. All samples are sawn or split in half, with one half being returned to
the core box for storage. The second half-core is placed in a labelled plastic bag with a tag,
document, and sealed for shipment. Batches of samples are shipped to Actlabs Colombia SAS
(Actlabs) in
Rio Negro
with security tags and documented chain of custody.
Pulps of each sample are prepared in
Rio Negro
. Pulp samples are then shipped to Actlabs Canada
for multi-element analysis. All samples are analyzed using package 1E3, an ICP-MS analysis that
provides the concentration of 51 elements. Fire assay analysis for gold and Silver is completed by
Actlabs in
Rio Negro
. Thirty-gram aliquots of each sample are analyzed for gold using a standard
fire assay with an atomic absorption finish, package 1A2. Overlimit samples are subjected to an
additional fire assay with a gravimetric finish, package 1A3-30, to determine the gold concentration.
A comprehensive QA/QC program has been implemented to monitor the reliability of assay data
collected during exploration programs. The program includes the regular insertion of certified blanks,
duplicates, and certified OREAS standards. Assays of the QA/QC samples are automatically
compared to the certified value and standard deviations in the database.
Qualified Person Statement
Mr.
Chris Buchanan
, P.Geo, is Soma's Vice-President of Exploration and a Qualified Person as
defined by National Instrument 43-101. Mr. Buchanan has reviewed the technical information
disclosed in this press 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 El Bagre Mill is currently operating and
producing. Internally generated funds are being used to finance a regional exploration program.
With a solid commitment to sustainability and community engagement, Soma Gold Corp. is
dedicated to achieving excellence in all aspects of its operations.
The Company also owns an exploration property near Tucuma, Para State,
Brazil
that is currently
under option to Ero Copper Corp.
On behalf of the Board of Directors
"Geoff Hampson"
Chief Executive Officer and Chairman
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.
SOURCE
Soma Gold Corp.
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For further information:
For further information, please contact Andrea Laird, telephone: +1-604-
259-0302
CO: Soma Gold Corp.
CNW 05:15e 12-NOV-24