Golden Tag Reports Positive Metallurgical Test Results From Fernandez Zone
NEWS RELEASE
Golden Tag Reports Positive Metallurgical Test Results From
Fernandez Zone
Toronto, Ontario, September 21, 2022 : Golden Tag Resources Ltd. (“ Golden Tag ” or the
"Company") (TSX.V: GOG) (OTCQB: GTAGF) is pleased to provide metallurgical test results from
mineralization contained within the Fernandez Zone, located on the Company’s 100% owned San
Diego Project, in Durango Mexico.
Highlights include:
• First ever metallurgical results performed on the Fernandez Zone demonstrates
Endoskarn mineralization is amenable to conventional flotation techniques
• 76% of the Ag and 84% of the Pb were recovered to a bulk concentrate containing
51% Pb, 4700 g/t Ag, 3.11% Zn, 5.27% Cu, and 2.23 g/t Au
• Cu and Au recoveries within the bulk concentrate had significant improvements
over previous test work
• 84% of the zinc was recovered to a concentrate grading 47% zinc
Greg McKenzie, President and CEO commented: "We are pleased to have completed the first ever
metallurgical test results from within the Fernandez Zone. The results reported today indicate
conventional flotation techniques could be utilized to produce a commercial saleable concentrate from
a sample taken from the Fernandez Zone, in particular within the Endoskarn mineralization.
When we compare these results with previous test work performed on other zones at San Diego, we
are encouraged by the improvements within the bulk Pb concentrate, in particular the Ag concentrate
grade as well as higher recoveries of Au and Cu.
Typical reagent regimes and grind size (P80 109 µm) were used in the testing, and we are confident
that additional test work and applied optimization could result in additional improvements in recoveries
and concentrate grades. Additional metallurgical test work is being planned to be performed in 2023.”
Summary of Metallurgical Test Work
The metallurgical test work was conducted by ALS Metallurgy in Kamloops, BC under the direction of
Adam Johnston of Transmin Metallurgical Consultants. Six samples of ¼ drill core taken over 6 metre
intervals were selected from three drill holes compl eted within the Fernandez Zone, designed to be
representative of the Fernandez Zone lithologies and geochemistry. The samples were subjected to
detailed mineralogy, including mineral assemblage, texture, and mineral liberation assessments at
ALS. The sampl es were analyzed using a Trace Metal Search (TMS) technique focused on silver
which concluded that silver is mainly present as freibergite. A 27 -kilogram composite (SAC-001) of
four samples from the Endoskarn Zone was analyzed by Particle Mineral Analysis (PMA) to determine
mineral liberation parameters prior to proceeding with flotation tests. The flotation development
comprised the evaluation of rougher and cleaner stages and an open circuit flowsheet was established
using conventional reagents and techniques. Approximately 76% of the Ag and 84% of the Pb were
recovered to a bulk lead concentrate grading approximately 4700 g/t silver, 51% Pb, 3.1% Zn, 5.3%
Cu, and 2.23 g/t Au (Table 1).
As compared to the metallurgical test results established in the NI 43-101 Technical Report Mineral
Resource Estimate prepared by SGS Canada effective April 2013, this initial test work has improved
predictions for the silver recovery from 71% to 76% in the bulk Pb concentrate, while increasing the
concentrate grade from 3623 g/t Ag up to 4700 g/t Ag, and demonstrated substantial improvements in
Cu and Au recoveries. There was also an improvement in the predicted zinc recovery from 81% to
84% in the zinc concentrate.
Additional metallurgical test work is required to furthe r optimize the flotation conditions before
proceeding with locked cycle testing.
Table 1 – Comparison of Metallurgical Performance From SAC-001 & NI 43-101Test Results
Stream Parameter SAC-001 NI 43-101(1)
Head Grade
Ag g/t 67.3 133
Pb % 0.67 1.42
Zn % 1.18 1.58
Cu % 0.13 0.17
Au g/t 0.062 0.06
Pb Concentrate
Grade
Ag g/t 4700 3623
Pb % 51.1 52.2
Zn % 3.11 4.36
Cu % 5.27 2.44
Au g/t 2.23 0.26
Recovery
Ag % 76.3 71.1
Pb % 83.7 84.8
Zn % 2.87 6.39
Cu % 44.8 21.96
Au % 39 12.84
Zn Concentrate
Grade
Ag g/t 82 520
Pb % 0.54 1.28
Zn % 47.2 40.9
Cu % 1.78 1.92
Au g/t 0.35 0.3
Recovery
Ag % 2.55 9.1
Pb % 1.7 2.1
Zn % 83.5 80.7
Cu % 29 37.2
Au % 11.7 22.06
(1) Please refer to Table 29, Page 101 of SGS Canada “NI 43 -101 Technical Report: Updated Mineral Resource
Estimate San Diego Project” effective date April 12, 2013 available on www.sedar.com or the Golden Tag Web site
www.goldentag.ca for further information.
Review by Qualified Persons
The scientific and technical information in this document has been reviewed and approved by Bruce
Robbins, P.Geo., and Adam Johnston, FAusIMM, (CP Metallurgy) of Transmin Metallurgical
Consultants, Qualified Persons as defined by National Instrument 43-101. Mr Johnston has 28 years
of mineral processing experience and is a Fellow of the Australasian Institute of Mining and Metallurgy.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Toronto based mineral resource exploration company. The Company
holds a 100% interest, subject to a 2% NSR, in the San Diego Project, in Durango, Mexico. The San
Diego property is among the largest undeveloped silver assets in Mexico and is located within the
prolific Velardeña Mining District. Velardeña hosts several mines having produced silver, zinc, lead
and gold for over 100 years. For more information regarding the San Diego property please visit our
website at www.goldentag.ca.
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: 416-504-2020
Email: [email protected]
www.goldentag.ca
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TSXV) accepts responsibility for the adequacy or accuracy of this news release. Certain statements
in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-
looking statements are within the meaning of the phrase ‘forward-looking information’ in the Canadian
Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-
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and statements that describe the Company’s future plans, objectives or goals, including words to the
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address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Although these statements are based on information currently available to the Company, the Company
provides no assurance that actual results will meet management’s expectations. Risks, uncertainties
and other factors involved with forward -looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from those expressed or implied by such
forward-looking info rmation. Forward -looking information in this news release includes, but is not
limited to, statements regarding the effects of the Company’s metallurgical test results , future
optimization of metallurgical testing, potential improvements in metallurgical recoveries and or
concentrate grades. Factors that could cause actual results to differ materially from such forward -
looking information include, but are not limited to: the ability to predict and counteract the effects of
COVID-19 on the business of the Company, including but not limited to the effects of COVID -19 on
the price of commodities, capital market conditions, restriction on labour and international travel and
supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to
reserves; the inability to complete a feasibility study which recommends a production decision; the
preliminary nature of metallurgical test results; del ays in obtaining or failures to obtain required
governmental, environmental or other project approvals; political risks; changes in equity markets;
uncertainties relating to the availability and costs of financing needed in the future; the inability of the
Company to budget and manage its liquidity in light of the failure to obtain additional financing; inflation;
changes in exchange rates; fluctuations in commodity prices; delays in the development of projects;
capital, operating and reclamation costs vary ing significantly from estimates and the other risks
involved in the mineral exploration and development industry; and those risks set out in the Company’s
public documents filed on SEDAR. Although the Company believes that the assumptions and factors
used in preparing the forward-looking information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of the date of this news release, and
no assurance can be given that such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any forward -looking information,
whether as a result of new information, future events or otherwise, other than as required by law. No
stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.