Golden Tag Successfully Extends Trovador downdip 335 metres, and Expands Fernandez 63 metres Southeast
NEWS RELEASE
Golden Tag Successfully Extends Trovador downdip 335 metres,
and Expands Fernandez 63 metres Southeast
Toronto, Ontario, June 10, 2021 : Golden Tag Resources Ltd. (“ Golden Tag” or the "Company")
(TSX.V: GOG) (OTCQB: GTAGF) is pleased to announce the complete results from diamond drill hole
21-56A, part of a program targeting bulk-tonnage mineralization on the Company’s 100% owned San
Diego Project, located in Durango Mexico.
Key highlights include:
Hole 21-56A successfully extended mineraliza tion in the Trovador Structural Zone
(“Trovador SZ” or “TSZ”) 335 metres (“m”) downdip intersecting 105.77 g/t Ag.Eq over
116.45 m. Total vertical extent of the zone is now over 550 m and remains open.
Fernandez Fringe Zone style endoskarn and exoskarn mineralization was intersected
over a combined width of 256.5 m, exte nding the zone a minimum of 63 m to the
southeast, which includes:
- 106.93 g/t Ag.Eq over 86.64 m from 465.31 to 551.95 m
- 97.29 g/t Ag.Eq over 169.83 m from 564.34 to 734.17 m
Greg McKenzie, President and CEO commented: " These drill results are very encouraging, proving
our concept that the large bu lk tonnage underground targets are prime for expansion. The
mineralization drilled in hole 56A has resulted in (1) a 63 m (~25%) extension of the Fernandez Zone
mineralization located on the SE boundary and (2) the expansion of the Trovador SZ down dip 335 m,
along with an 19% improvement in grade over the initial discovery in hole 11-42. The TSZ is now our
second sizable underground bulk tonnage target, and t he current exploration program has outlined a
total vertical extent of over 550 m in this zone, commencing appro ximately 200 vertical m above the
Fernandez Zone. The proximit y between these two zones gives the potential of future shared
underground access and infrastructure.”
Hole 21-56A
Hole 21-56A was drilled to the southeast over the top of the Fernandez Zone to test the gap between
the Fernandez and Trovador Zone resource envelopes established in the 43-101 Technical Report
Mineral Resource Estimate prepared by SGS Canada effective April 2013 (Figures 1 & 2). The hole
also tested the TSZ mineralization as reported in the Company’s news release from February 17, 2021
in hole 11-42 (88.54 g/t Ag.Eq over 175.30 m) at approximately 335 m depth beneath the TSZ in hole
11-42 (700 vertical m from surface 1650 mL).
Hole 21-56A intersected a northeast trending epith ermal vein which returned 712.78 g/t Ag.Eq over
0.61 m (94.23 to 94.84 m) and a west-northwest trendi ng epithermal vein which returned 147.00 g/t
Ag.Eq over 1.25 m (113.60 to 114.85 m). The hole cut skarn mineralization, in breccias and stockwork
quartz-sulfide veins, on the cont act between a diorite dike and marbles which returned 121.31 g/t
Ag.Eq over 8.40 m (282.90 to 291.30 m). This skarn lies approximately 180 vertical m above the
Fernandez Zone and 270 vertical m beneath surface.
Hole 21-56A intersected Fernandez Fringe Zone style endoskarn and exoskarn mineralization at
465.31 m, approximately 10 m sout heast of and 15 vertical m above the Fernandez Zone resource
envelope established in the 201 3 SGS resource estimate. Two new skarn zones returned 106.93
g/t Ag.Eq over 86.64 m (465.31 to 551.95 m) and 97.29 g/t Ag.Eq over 169.83 m (564.34 to 734.17
m), separated by 12.39 m of w eakly mineralized diorite. The Company expects that these new
intersections will extend the Fernandez Zone resource envelope, which has a horizontal oval
profile of approximately 300 x 200 m, a minimum of 63 m to the southeast. Mineralization in both
of these skarns is associated with multiple diorit e dikes which cut the marbles and consists of green
and brown garnet exoskarn and red garnet endoskarn sulfide mineralizati on (pyrite-pyrrhotite-
sphalerite-galena) contained within quartz-sulfide stockwork veins, breccias and massive sulfide
zones. The top of this skarn zone lies approximately 30 m east of and 175 vertical m below the skarn
zone in hole 21-54 (91.98 g/t Ag.Eq over 99.53 m) and 55 m east of and 235 vertical m below the
skarn zone in hole 21-55, as reported in the Company’s news release from May 6, 2021.
Hole 21-56A successfully intersected the TSZ with 105.77 g/t Ag.Eq over 116.45 m, approximately
335 m beneath the TSZ in hole 11-42 as reported in the Company’s news release from February 17,
2021 (88.54 g/t Ag.Eq over 175.30 m ), and approximately 700 m vertic al depth from surface. The
TSZ is characterized by silicification, quartz-sulfide veins and disseminated sulfide mineralization in
bleached black marbles. To date the TSZ has now been identi fied over a total vertical extent of
approximately 550 m, commencing at 245 m belo w surface, remaining open along strike and
down-dip.
After exiting the TSZ, hole 21-56A cut the MS Zone: 302.26 g/t Ag.Eq over 2.71 m (883.00 to 885.71
m) and 206.06 g/t Ag.Eq over 2.03 m (889.70 to 891.73 m). The MS Zone veins are characterized by
much richer Ag, Pb, Zn and Cu grades.
Table 1 – Select Assay Intervals from Hole 21-56A
Zone Hole From To Length
(m)
Ag.Eq(1)
g/t
Au
g/t
Ag
g/t
Pb
%
Zn
%
Cu
%
NEW 21-56A 94.23 94.84 0.61 712.78 0.47 605.00 0.46 1.04 0.03
NEW 21-56A 113.60 114.85 1.25 147.00 0.03 121.76 0.17 0.30 0.03
NEW 21-56A 282.90 291.30 8.40 121.31 0.58 30.16 0.35 0.43 0.09
NEW
FERNANDEZ
21-56A 465.31 551.95 86.64 106.93 0.03 39.20 0.91 0.57 0.06
Incl. 465.31 497.90 32.59 134.51 0.04 46.15 1.16 0.79 0.07
Incl. 529.50 531.45 1.95 552.22 0.12 206.89 5.47 2.26 0.36
Incl. 541.25 544.85 3.60 379.37 0.04 179.55 2.85 1.38 0.30
NEW
FERNANDEZ
21-56A 564.34 734.17 169.83 97.29 0.04 31.76 0.63 0.76 0.05
Incl. 613.50 615.82 2.32 183.12 0.05 54.37 1.38 1.45 0.08
Incl. 617.60 619.60 2.00 385.61 0.03 110.77 2.27 3.80 0.16
Incl. 639.10 642.65 3.55 377.28 0.08 117.99 2.56 3.13 0.17
Incl. 647.50 661.97 14.47 269.17 0.03 81.34 1.95 2.24 0.12
Incl. 668.85 676.23 7.38 256.93 0.03 93.97 1.86 1.84 0.09
Incl. 688.03 692.79 4.76 217.75 0.03 83.57 0.88 1.88 0.13
Incl. 721.95 727.93 5.98 219.73 0.17 79.03 1.56 1.41 0.06
NEW TSZ 21-56A 750.97 867. 42 116.45 105.77 0.03 41.87 0.57 0.75 0.06
Incl. 750.97 757.70 6.73 139.70 0.02 53.29 0.74 1.10 0.08
Incl. 769.43 776.80 7.37 102.35 0.03 37.55 0.66 0.73 0.05
Incl. 783.13 867.42 84.29 118.50 0.03 47.11 0.63 0.84 0.07
NEW MS 21-56A 883.00 885.71 2.71 302.26 0.05 96.91 0.51 3.12 0.35
NEW MS 21-56A 889.70 891.73 2.03 206.06 0.11 57.48 2.01 1.16 0.15
(1) 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. Intervals of skarn & TSZ mineralization were
chosen based on a 53 g/t Ag.Eq cutoff with no more than 8.3 m of dilution. 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 2021.
Sample Analysis and QA/QC Program
Golden Tag Resources uses a qualit y 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 per formed at ALS Geochemis try, an independent ISO
9001:2001 certified laboratory, in Zacatecas, Mexi co and pulps are sent to ALS Geochemistry in
Vancouver, Canada and Lima, Peru for analyses. The entire sample 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 standar d 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-GRA 21). 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 ar e 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 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 Me xico 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 accu racy of this news releas e. 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 statem ents are based on assumptions and
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 in formation could cause ac tual events, results,
performance, prospects and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forw ard-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 tonnag e mineralization or
zones. Factors that could cause actual results to differ materially from such forward-looking information
include, but are not limited to: the ability to predi ct and counteract the effects of COVID-19 on the
business of the Company, including but not limit ed to the effects of COVID-19 on the price of
commodities, capital market conditions, restrict ion 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 whic h recommends a production dec ision; the preliminary
nature of metallurgical test resu lts; delays in obtaining or failures to obtain required governmental,
environmental or other project approv als; political risks; changes in equity markets; uncertainties
relating to the availability and costs of financing ne eded 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 dev elopment industry; and those risks set out in the Company’s public
documents filed on SEDAR. Although the Company belie ves 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 occu r in the disclosed time frames or at all. The
Company disclaims any int ention 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.
Figure 1: Plan Map Holes 11-40, 11-42, 21-56A with Fernandez & Trovador Zones
Figure 2: Cross Section View to southwest of Key Results 21-56A, 11-42 & 11-40