Golden Tag Set to Recommence Drilling on San Diego
NEWS RELEASE
Golden Tag Set to Recommence Drilling on San Diego
Toronto, Ontario, January 6, 2022 : Golden Tag Resources Ltd. (“Golden Tag ” or the
"Company") (TSX.V: GOG) (OTCQB: GTAGF) is pleased to announce that diamond drilling is set
to recommence on the Company’s 100% owned San Diego Project , located in Durango Mexico .
After pausing briefly at year- end, Major Drilling has commenced mobilization to site and is
expected to restart drilling within the next few days.
The current expanded 4,500 metre (“ m”) diamond drill exploration program is a follow up to the
4,716 m of diamond drilling that ha d previously been completed and reported in 1H, 2021. As of
December 20, 2021 a total of 2,350 m has been drilled, leaving approximately 2,150 m of additional
drilling to be completed. In Q4, 2021 a total of 1,675 samples were sent to ALS Geochemistry for
assaying, and results from the first hole are expected shortly.
Key highlights from the first phase of 2021 drilling include (1):
• Discovery of new near-surface epithermal mineralization in hole 21-57 with the intersection
of 75.89 g/t Ag.Eq over 273.65 m commencing near surface (57 Target). This interval
incorporates a series of epithermal breccias and quartz-carbonate veins which includes a
higher-grade interval returning 892.25 g/t Ag.Eq over 10.00 m.
• Discovery of the 1849 Zone with hole 21- 57 returning 116.76 g/t Ag.Eq over 66.04 m
within a broader int erval of 91.86 g/t Ag.Eq over 134.37 m and confirming the
mineralization trend between historic holes 12-49 and 07-18 which extends over a 500 m
vertical distance. The 1849 Zone is open along strike and dip and represents a new broad
zone of skarn minerali zation with bulk tonnage potential at the northwest contact of the
Central Diorite approximately 120 m northwest of the Fernandez Zone.
• Discovery of the Trovador Structural Zone (“TSZ”) with infill sampling of historic hole 11 -
42 returning 88.54 g/t Ag.Eq over 175.30 m and hole 21- 56A returning 105.77 g/t Ag.Eq
over 116.45 m . To date the TSZ has been identified over a total vertical extent of
approximately 550 m, commencing at 245 m below surface, and remains open along strike
and down dip.
• Discovery of new high- grade skarn zones above the Fernandez Zone with hole 21- 58
intersecting 306.09 g/t Ag.Eq over 6.55 m and 257.67 g/t Ag.Eq over 16.34 m (Upper
Skarn).
• Discovery of skarn shoots above and to the south of the Fernandez Zone in holes 21- 54
and 21-55 (S Skarn Shoots). Hole 21-54 intersected 286.02 g/t Ag.Eq over 18.43 m, within
a broader skarn zone of 91.98 g/t Ag.Eq over 99.53 m approximately 70 m southeast, and
190 m above the Fernandez Zone.
• Extension of Fernandez Zone mineralization 63 m to the southeast with hole 21- 56A
returning 106.93 g/t Ag.Eq over 86.64 m and 97.29 g/t Ag.Eq over 169.83 m (SE
Fernandez Extension).
• Extension of Fernandez Zone mineralization 40 m toward surface and 20 m to the south
with hole 21-53 returning 104.64 g/t Ag.Eq over 50.17 m (Fernandez Extension).
• Confirmation of the continuity of mineralization within the west ern part of the Fernandez
Zone with h ole 21-58 returning 111.00 g/t Ag.Eq over 191.57 m approximately 102 m
north-northwest of historic hole 12-48 and 80 m southwest of hole 12-49 (West Fernandez
Target). The mineralization intersected in hole 21- 58 was a 34% improvement in grades
over the nearest intercept within hole 12-48.
• Infill sampling of historic hole 11-40 resulted in a 10% increase in the reported grade of the
mineralization within the Fernandez Zone to 101.96 g/t Ag.Eq over 298.02 m.
(1) As disclosed in news release dated October 13, 2021. All results in this release are rounded. Assays are uncut and undiluted.
Widths are core- lengths, not true widths as a full interpretation of actual orientation of mineralization is not complete. Silver
equivalent: Ag.Eq g/t was calculated using 3- year trailing average commodity prices of $17.75/oz Ag, $0.90/lb Pb, $1.20/lb Zn,
$1500/oz Au, and $2.85/lb Cu. The calculations assume 100% metallurgical recovery and are indicative of gross in- situ metal
value, the Company is planning to perform additional metallurgical studies later in 2022. Drill intercepts from historical holes 11-
42 and 11- 40 were calculated using the current silver equivalent parameters outlined above. Please refer to Company news
releases dated February 17, April 14, May 6, May 27, June 10, July 15, and September 8, 2021 for further details on these
intervals.
Sample Analysis and QA/QC Program
Golden Tag Resources uses a quality assurance/quality control (QA/QC) program that monitors
the chain of custody of samples and includes the insertion of blanks, duplicates, and reference
standards in each batch of samples sent for analysis. Drill core is photographed, logged, and cut
in half with one half retained in a secured location for verification purposes and one half shipped
for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an
independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS
Geochemistry in Vancouver, Canada and Lima, Peru for analyses. The entire s ample is crushed
to 70% passing -2 mm and a riffle split of 250 grams is taken and pulverized to better than 85%
passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic
Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram pulp. Gold assays greater than 10 g/t
are re-analyzed on a 30 -gram pulp by fire assay with a gravimetric finish (Au- GRA21). Samples
are also analyzed using a 35 element inductively coupled plasma (ICP) method with atomic
emission spectroscopy (AES) on a pulp digested by aqua regia (ME -ICP41). Overlimit sample
values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-
acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than 1,500 g/t
samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-GRA21).
No QA/QC issues were noted with the results reported herein.
True widths of drill intercepts have not been determined. Assays are uncut except where indicated.
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by
Bruce Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Golden Tag Resources
Golden Tag Resourc es 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
Cautionary Statement:
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
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- looking statements are not comprised of historical
facts. Forward-looking statements include estimates and statements that describe the Company’s
future plans, objectives or goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking statements may be identified by such
terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”.
Since forward- looking statements are based on assumptions and address fut ure 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 information. Forward-looking information in this news release includes, but
is not limited to, statements regarding the effects of the Company’s exploration program, assay
results from the ongoing drill program, the expansion or discovery of additional bulk tonnage
mineralization or zones, grade improvements at depth. 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; delays in
obtaining or failures to obtain required governmental, environmental or other project approvals;
political risks; ch anges 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 varying significantly from estimates and the other risks involved in the mineral exploration
and development industry; and thos e 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 s uch 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.