- OTCQX Symbol is TBXXF
- Company is DTC eligible
- Phase 2 drilling to commence soon
VANCOUVER, May 4, 2020 /CNW/ - Turmalina Metals Corp.
(TSX-V:TBX, OTCQX: TBXXF) ("Turmalina" or the "Company") is pleased
to announce it has qualified to trade on the OTCQX Best Market and
will trade with the symbol TBXXF effective immediately.
U.S. investors can find current financial disclosure and
Real-Time Level 2 quotes for the company
on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies
seeking to provide transparent trading for their U.S. investors.
For companies listed on a qualified international exchange,
streamlined market standards enable them to utilize their home
market reporting to make their information available in the U.S. To
qualify for OTCQX, companies must meet high financial standards,
follow best practice corporate governance and demonstrate
compliance with applicable securities laws.
Turmalina Chief Executive Officer and Director, Dr. Rohan Wolfe, states, "Turmalina is
pleased to join the OTCQX Market, making trading easier for our
U.S. investors. Turmalina has recently completed modeling the
results from our extensive project-scale field program and we look
forward to commencing drilling soon."
The drill program, as previously disclosed, will be a
concurrent blend of testing for vertical and lateral extensions of
the SFLD breccia, where Turmalina intersected high-grade
gold-silver mineralization in multiple holes (such as 36.95m at 6.31 g/t gold, 122 g/t silver, and
0.88% copper, being 8.7 g/t gold equivalent; see Turmalina News
Release dated December 9, 2019 for
details) and drilling on new exploration targets within a large
cluster of breccias in close proximity to SFLD. Exploration
drilling will be based on the recently concluded field program
which included 4494 soil samples, 1240 rock chip samples and
mapping of 60 breccias (rock chip samples from one of the high
priority exploration targets included 79 g/t gold, 385 g/t silver
and 7.7% copper, as detailed in Turmalina News Release dated
March 6, 2020).
Turmalina has recently submitted a biosecurity protocol document
to regulatory officials in San Juan and understands that upon
acceptance of these plans the company will be able to commence
drilling.
Turmalina is well funded, has no debt and is eager to follow up
on the successful phase one drill results.
On behalf of Turmalina Metals,
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-molybdenum 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
molybdenum 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.
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SOURCE Turmalina Metals Corp.