Turmalina Metals Corp. (“Turmalina
”, or the
”; TBX-TSXV, TBXXF-OTCQX) is pleased to
announce that it has accelerated drilling at its San Francisco
gold-silver-copper project (the “Project
the addition of a second drill rig to the ongoing program.
- The first drill rig will remain at the San Francisco de Los
Andes (‘SFdLA’) breccia.
- The second rig will drill one hole at SFdLA before commencing
exploration drilling of newly discovered gold-copper-silver
mineralised breccia pipes.
- Drilling has commenced with a strong cash position and balance
Over the past month the Turmalina operations team has
established a camp, constructed access roads and built multiple
drill pads. This process went smoothly and Turmalina commenced
drilling three weeks ago at the SFdLA breccia pipe, which was
drilled by the Company in 2019.
The second rig, which is now onsite, will drill one hole at
SFdLA before being dedicated to testing high-priority exploration
targets, with approximately 2000m of drilling planned across four
gold-copper mineralized breccia pipes. These new exploration
targets were identified during the summer field program, which
mapped and sampled the entire 3400 ha project area, leading to the
identification and sampling of over 60 breccias.
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. The four breccia pipes to be tested are all
larger in mapped extent than the SDdLA breccia pipe.
The first drill rig currently at the SFdLA breccia will remain
at the breccia pipe, with approximately 2500 meters of drilling
planned at SFdLA to test for extensions to high-grade
gold-copper-silver mineralization encountered in the first phase of
drilling completed by the Company in 2019. The 2019 drill
results included 36.95m @ 6.31 g/t Au, 122 g/t Ag &
0.88% Cu (8.7 g/t AuEq; SFDH-001),
85.30m @ 4.43 g/t Au, 109 g/t Ag & 0.79% Cu
(6.6 g/t AuEq; SFDH-002) and 26.75m @ 5.47
g/t Au, 97 g/t Ag & 3.30% Cu (10.6 g/t
AuEq, SFDH-004; see Turmalina news release dated December
2, 2019 for full details). The first holes of the current program
test 60 to 80 meters below the deepest holes drilled by Turmalina
to date. Further holes will then extend this to greater depths as
well as test shallower lateral extensions.
Dr. Rohan Wolfe, Chief Executive Officer, states:
“We are pleased to accelerate the drilling program at San
Francisco with two rigs now turning at the project. This second rig
will test some exciting recently-discovered breccia pipes that are
not only larger on surface than the SFdLA pipe but in some cases
have returned higher gold, silver and copper rock chip assay
results than found on the surface of the SFdLA breccia pipe.
Drilling at the SFdLA breccia is progressing well, with a series
of holes that test for vertical and lateral extensions to this
high-grade breccia pipe: a breccia that returned some of the
highest gold grades ever reported for this style of mineralisation
during our 2019 drill program.”
The Project is located in the Argentinian state of San Juan. San
Juan authorities responded promptly to the threat posed by the
COVID-19 pandemic, and due to this response the state has only
recorded 8 cases of COVID-19 as of the 22nd of June. To further
minimize the risk of COVID-19 transmission to our team and the
community the Company has applied rigorous protocols throughout the
program. These procedures 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.
The Company also has granted 2,070,000 incentive share purchase
options to technical staff, advisors, management and directors of
the company excercisable at a price of $1.30 for a period of 5
On January 15, 2020, the Company has entered into 12 month
investor relations agreements with Highland Contact (controlled by
Adam Ross), based in Canada. Highland Contact will be paid
CAD $7,000 per month and will coordinate all North American
investor relations for the company including creation of materials,
advertising as well as handling all incoming investor relations
communications for a period of twelve months. Adam Ross was
granted 150,000 incentive stock options on August 9, 2019 with a
term of 5 years and an exercise price of $0.50, for providing
corporate finance services to the Company. Highland Contact is a
corporate communications firm that assists public and private
companies with corporate communication and to develop a capital
About the San Francisco Project, San Juan,
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.
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.
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: firstname.lastname@example.orgMobile: +976 9999 6994Website:
turmalinametals.comAddress: #488 - 1090 West Georgia St, Vancouver,
BC V6E 3V7.
For Investor Relations enquiries, please contact Bryan
Slusarchuk at +1 833 923 3334 (toll free) or via
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