VANCOUVER, BC, June 3, 2020 /CNW/ - Turmalina Metals Corp.
("Turmalina", or the "Company") (TSXV: TBX) (OTCQX:
TBXXF) is pleased to announce that it has commenced drilling at its
San Francisco gold-silver-copper
project (the "Project").
Highlights:
- Drilling has started at the San
Francisco de Los Andes ('SFdLA') breccia.
- The drilling campaign will be a concurrent blend of drilling at
SFdLA breccia pipe and exploration drilling of newly discovered
gold-copper-silver mineralised breccia pipes.
- Commencing drilling with a strong cash position and balance
sheet.
During the past two weeks, the Turmalina operations team has
been busy onsite establishing the camp, constructing access roads
to drill sites and building drill pads. This process has gone
smoothly and Turmalina now is drilling at the SFdLA breccia
pipe.
This phase two drill program will be a concurrent blend of
drilling at the (SFdLA) breccia, to follow up on a very successful
initial drill program while also commencing exploration on multiple
newly identified and sampled breccias that present high priority
exploration targets.
Two diamond drill rigs will be utilized to drill a total of 4500
meters during this drill campaign. Approximately 2500 m will be drilled at the SFDLA breccia pipe,
testing for vertical and lateral extensions to high-grade
gold-copper-silver mineralization encountered in the first phase of
drilling (Figure 1). The remaining 2,000
m will test gold-copper mineralized breccia pipes identified
during the summer mapping program (Figure 2).
With drilling now underway Turmalina has also re-started infill
rock chip sampling in newly identified gold-copper mineralised
breccia pipes, starting at the Humilde breccia, and then continuing
at the Solita and Colorada breccias.
Dr. Rohan Wolfe, Chief Executive
Officer, states:
"It's pleasing to be drilling again at our flagship
San Francisco project. The next
few months promise to be a very busy and exciting time for
Turmalina as we test for extensions to high grade gold-copper
mineralisation intersected in our initial drilling at the SFdLA
breccia pipe, as well as drill testing some exciting
newly-identified gold-copper mineralised breccia pipes on the
property. Some of these new breccia pipes have returned surface
gold and copper grades even higher than those found on the surface
of the SFdLA breccia pipe. In conjunction with the drilling program
we have restarted detailed sampling and mapping of several
high-priority targets and we look forward to keeping the market
updated as drilling and fieldwork progresses over the coming
months."
SFDLA Drilling
Initial drilling at the SFdLA breccia (see Turmalina News
Release dated December 2, 2019 for
full details of results including information on true widths)
returned significant gold-rich intercepts including:
- 36.95m @ 6.31 g/t Au, 122 g/t
Ag & 0.88% Cu (8.7 g/t AuEq) from 34.5m (SFDH-001)
- 85.30m @ 4.43 g/t Au, 109 g/t
Ag & 0.79% Cu (6.6 g/t AuEq) from 27.7m (SFDH-002)
-
- Including 22.70m @ 6.66 g/t
Au, 86 g/t Ag & 1.46% Cu (9.46 g/t AuEq) from 28.3m
- Including 25.00m @ 5.29 g/t
Au, 117 g/t Ag & 0.62% Cu (7.4 g/t AuEq) from 61m
- 50.75m @ 3.62 g/t Au, 82 g/t
Ag & 1.90% Cu (6.7 g/t AuEq) from 44.25m (SFDH-003)
-
- Including 26.75m @ 5.47 g/t
Au, 97 g/t Ag & 3.30% Cu (10.6 g/t AuEq) from 44.25m
- 85.00m @ 2.65 g/t Au, 88 g/t
Ag & 0.57% Cu (4.32 g/t AuEq) from 33m (SFDH-005)
-
- Including 21.00m @ 5.05 g/t
Au, 173 g/t Ag & 0.80% Cu (8.0 g/t AuEq) from 35m
- 27.52m @ 3.00 g/t Au, 124 g/t
Ag & 0.37% Cu (4.8 g/t AuEq) from 56.48m (SFDH-007)
-
- Including 8.52m @ 4.91 g/t Au,
140 g/t Ag & 0.24% Cu (7.1 g/t AuEq) from 56.48m
- And 16m @ 0.8 g/t Au, 281 g/t
Ag & 1.59% Cu (6.1 g/t AuEq) from 150m.
Initial Phase Two drilling at the SFdLA targets the projected
vertical extension of the breccia approximately 60 to 80 meters
below the deepest holes drilled by Turmalina to date (Figure 1).
Further holes will then extend this to greater depths as well as
test shallower along-strike extensions.
Exploration Drilling on New Targets
Over summer Turmalina completed a project-wide 3400 ha mapping
and sampling program. This program included collection of over
4,494 soil samples, 1,240 rock chip samples and mapping of over 60
breccias.
The upcoming drilling program will drill test four of these
newly discovered breccia pipes (Figure 2). These new breccia pipes
are all located in close proximity to SFDLA. Rock chip samples from
one of these new targets included 79 g/t gold, 385 g/t silver and
7.7% copper: assay grades higher than those obtained from rock
chips over the SFdLA breccia pipe drilled by the Company in
2019.
To minimize the risk of COVID-19 transmission to our team and
the community the Company will apply rigorous protocols throughout
the program. These procedures will include social distancing,
improved hygiene, health screening of all staff and contractors,
longer rosters at our remote field camp and an onsite medical
professional to monitor health and ensure procedures are
followed.
About the San Francisco Project, San Juan, Argentina
The 3404 ha San Francisco
project is located in San Juan, Argentina. The project area contains more than
60 tourmaline breccia occurrences, several of which have supported
small-scale mining. The Company is focused on mapping and sampling
the breccias, and drill testing prioritized targets.
Work Programs
The summer field program at San
Francisco extended geological mapping, portable XRF analysis
and geochemical sampling (rock chips and soils) over the entire
Project area. High-priority breccia targets defined by this
first-pass sampling were subject to detailed mapping and channel
sampling leading to the selection of drill targets for the pending
drill program. The company is also consolidating our regional
holdings as San Francisco is
located within an 80 km long gold-copper mineralised belt.
Qualified Person
The scientific and technical data contained in this news release
pertaining to the San Francisco
and Turmalina projects has been reviewed and approved by Dr.
Rohan Wolfe, Chief Executive
Officer, MAIG, who serves as the Qualified Person (QP) under the
definition of National Instrument 43-101.
On Behalf of the Company,
Dr. Rohan Wolfe, Chief Executive
Officer and Director.
Email: rohan@turmalinametals.com
Mobile: +976 9999 6994
Website: turmalinametals.com
Address: #488 - 1090 West Georgia St, Vancouver, BC V6E 3V7.
Statements
About Turmalina Metals and the San Francisco
Project: Turmalina Metals is a TSXV-listed exploration
company focused on developing our portfolio of high grade
gold-copper-silver projects in South
America. Our focus is on tourmaline breccias, a deposit
style overlooked by many explorers. Turmalina Metals is led by a
team responsible for multiple gold-copper-silver discoveries who
are highly experienced in this deposit style. Our projects are
characterised by open high-grade mineralisation on established
mining licenses that present compelling drill targets. The
principle project held by Turmalina is the San Francisco project in San Juan,
Argentina. For further information
on the San Francisco Project, refer to the technical report
entitled "NI43-101 Technical Report San Francisco Copper Gold
Project, San Juan Province, Argentina" dated November 17, 2019 under the Corporation's profile
at www.sedar.com.
Forward Looking Statement: This news release
contains certain "forward-looking statements" within the meaning of
such statements under applicable securities law. Forward-looking
statements are frequently characterized by words such as
"anticipates", "plan", "continue", "expect", "project", "intend",
"believe", "anticipate", "estimate", "may", "will", "potential",
"proposed", "positioned" and other similar words, or statements
that certain events or conditions "may" or "will" occur. These
statements are only predictions. Various assumptions were used in
drawing the conclusions or making the projections contained in the
forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made and are subject
to a variety of risks (including those risk factors identified
in the Corporation's prospectus dated November 21, 2019) and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
The Corporation is under no obligation, and expressly disclaims any
intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable law.
There is no assurance when the government-imposed measures
related to COVID-19 in Argentina
will be lifted. There is uncertainty over the form and duration of
government measures and multiple policy changes may occur with
regards to these measures over time. The Company may not provide
updates on various government measures and changes to these
measures as they occur.
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SOURCE Turmalina Metals Corp.