Turmalina Metals Corp. (“
Turmalina”, or the
“
Company”; TBX-TSXV, TBXXF-OTCQX) is pleased to
announce that recent Phase 3 deep drilling at the San Francisco
project (“
San Francisco” or the
“Project”) on the San Francisco de Los Andes
(“
SFdLA”) breccia pipe has continued to extend
zones of high-grade copper-gold-silver mineralisation while
shallower drilling has also returned multiple intercepts of
high-grade copper-gold-silver mineralisation.
Phase 3 drilling at SFdLA follows up high-grade
mineralisation reported at depth in drill hole SFDH-039 (see
Turmalina Metals press release dated 25th January 2021), with Holes
SFDH-042 and SFDH-043 being the first holes of an east-west
orientated long-section below Phase 2 drilling (Figure 1).
SFDH-043 tested the base of drilling at the
eastern lobe and the deeper western boundary of the breccia pipe
and intersected:
- 35m @
1.99% Cu, 0.79 g/t Au & 150 g/t Ag (6.3 g/t EqAu; 3.8%
CuEq) from 109m.
- including
4.2m @ 8.35% Cu, 1.84 g/t Au & 743 g/t Ag
(26.7 g/t EqAu; 16.0% EqCu) from 110.8m
- 46m @
0.37% Cu, 0.55 g/t Au & 32 g/t Ag (1.6 g/t EqAu; 1.0%
EqCu) from 157m
- including
20m @ 0.42% Cu, 1.09 g/t Au & 49 g/t Ag (2.5
g/t EqAu; 1.5% EqCu) from 157m
SFDH-042 tested the full length of the breccia
pipe along its long-axis below previous drilling, and shows that
the breccia pipe is widening at depth, with intersections in a new
western extension including:
- 11m @ 1.28% Cu, 0.13g/t Au
& 102 g/t Ag (3.8 g/t AuEq; 2.3% CuEq) from 161m
- 19m @ 0.95% Cu, 0.41 g/t Au
& 31 g/t Ag (2.5 g/t AuEq; 1.5% CuEq) from 251m
- Including 8m @
1.44% Cu, 0.80 g/t Au & 46 g/t Ag (3.9 g/t AuEq; 2.3% CuEq)
from 251m
Examples of the breccia-hosted mineralisation
are illustrated in Figures 2 and 3.
In addition to the results of current Phase 3
drilling all remaining assays have been returned for shallower
Phase 2 holes drilled in late 2020. Drill holes SFDH-038 and
SFDH-041 returned multiple intervals of near surface oxide
mineralisation including 30m @ 4.88 g/t Au, 149 g/t Ag
& 0.50% Cu (7.9 g/t AuEq; 4.7% CuEq; SFDH-038 from
30m) and 9.6 m @ 5.26 g/t Au, 31 g/t Ag & 0.19%
Cu (6.0 g/t EqAu; 3.62 % EqCu; SFDH-041 from 49m (Figures
4 and 6). SFDH-040 tested hypogene gold-copper-silver
mineralization below the oxide zone and intersected 18m @
0.30% Cu, 0.59 g/t Au & 51 g/t Ag (1.8 g/t AuEq; 1.1%
CuEq) from 120m (Figure 5).
Further intersections are reported in Table 1:
Intersections are not true widths and additional drilling and
geological modelling of the mineralised zones in the breccia pipes
is required to make a determination of the true widths of the drill
hole intersections. Drill hole coordinates are shown in Table
2.
Dr. Rohan Wolfe, Chief Executive Officer,
states:
“These are exciting results from our initial
phase 3 drilling, as we begin systematically exploring the deeper
parts of the system. The initial deep drilling along the main
long-axis of the SFdLA breccia pipe indicate that the breccia is
expanding with depth, with drill hole 42 intersecting a new
extension to mineralisation to the west, while hole 43 has returned
incredible grades from the base of the eastern lobe.
In conjunction with the cross-sections that we
are currently drilling this initial phase 3 exploration program
will allow us to define the geometry of the breccia below previous
drilling and allow us to target high-grade mineralised zones within
the breccia.”
Work at the San Francisco project is currently
focused on the summer field program with the recent completion of a
project-wide mapping campaign leading to detailed sampling of
several high-priority breccia pipes. One drill rig is currently
drilling a number of north-south orientated cross-sections at the
SFdLA breccia pipe to determine the width of the pipe at depth.
On completion of the field program we expect to
expand drilling with a second rig that will commence drilling at
the start of the winter drilling season in 1-2 months. As the
deeper holes that are currently underway take longer to complete
than the phase 2 holes drilled in 2020 the reporting of drilling
results may take longer than the turn around of results seen in
2020.
In addition to the above holes at SFdLA samples
from a previously unassayed interval at Hole SFDH-016 at the
Chorrillos prospect, located 4 km north of SFdLA, returned 26 m @
0.13% Cu (from 116 m) associated with fine-grained disseminated,
veinlet and vein chalcopyrite mineralisation hosted within a
porphyry dyke (Figure 8). The nature and exploration implications
of this porphyry-hosted copper mineralisation are currently being
assessed. The Company has also received assay results for SFdH-036,
which tested the Solita breccia pipe, located 3 km to the west of
SFdLA. The hole intersected a pyrite-rich tourmaline breccia that
returned anomalous gold and silver grades (i.e. 21m @ 0.09 g/t Au
& 16 g/t Ag) but no economic intersections.
Other Projects
The Company aims to build a portfolio of
advanced gold-copper exploration projects, with a focus on
high-grade tourmaline breccias with drill-ready targets. To achieve
this the Company has entered into an agreement to explore the
Chanape copper-gold project located in the Lima District in Peru
(the ‘Chanape Project’). Following the signing of
an exploration permit with the local community earlier this year
the Company is has please to report it has commenced repairing and
upgrading the access road to the Chanape Project, in preparation
for the commencement of field work.
COVID-19
Approximately 22,000 cases of COVID-19 have now
been recorded in the state of San Juan, with a current rate of
approximately 100 new cases a day. In the past week five cases of
COVID-19 were detected in local workers at the San Francisco
project, the first cases at the project since the start of the
pandemic. These workers are in isolation in the nearby town of
Calingasta. Regular and ongoing testing of all staff and
contractors at the project have not detected any further cases.
To minimize the risk of COVID-19 transmission to
our team and the community, the Company has applied rigorous
protocols throughout the program. These protocols have been
approved by the authorities of the province of San Juan, and both
Turmalina Metals and local subsidiary Aurora Mining maintain close
contact with the local authorities in order to comply with all
regulations. These procedures include regular testing, maintaining
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
The 3404 ha San Francisco project is located in
San Juan, Argentina. The project area contains over 60 tourmaline
breccia occurrences, several of which have supported small-scale
mining. The Company is focused on mapping and sampling the breccias
in the project area, and drill testing the highest priority
targets.
Hole ID |
From |
To |
Interval |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Pb (%) |
Zn (%) |
AuEq g/t |
CuEq % |
SFDH-016 |
30 |
61.7 |
31.7 |
0.00 |
3.70 |
0.17 |
0.17 |
0.04 |
0.34 |
0.20 |
SFDH-038 |
0 |
81 |
81 |
2.33 |
63.94 |
0.23 |
0.23 |
0.38 |
3.65 |
2.19 |
including |
30 |
61.7 |
31.7 |
4.88 |
149.31 |
0.50 |
0.85 |
0.06 |
7.91 |
4.74 |
SFDH-040 |
120 |
192 |
72 |
0.40 |
41.87 |
0.21 |
0.43 |
0.53 |
1.37 |
0.82 |
including |
120 |
138 |
18 |
0.59 |
51.45 |
0.30 |
0.50 |
0.68 |
1.85 |
1.11 |
including |
174 |
179 |
5 |
0.90 |
119.80 |
0.47 |
0.53 |
0.36 |
3.45 |
2.07 |
SFDH-041 |
18 |
58.6 |
40.6 |
2.10 |
11.92 |
0.09 |
0.05 |
0.00 |
2.43 |
1.46 |
including |
18 |
36 |
18 |
1.77 |
9.12 |
0.09 |
0.07 |
0.01 |
2.05 |
1.23 |
including |
49 |
58.6 |
9.6 |
5.26 |
31.01 |
0.19 |
0.07 |
0.00 |
6.03 |
3.62 |
SFDH-042 |
112 |
117 |
5 |
0.09 |
34.76 |
0.50 |
0.14 |
0.12 |
1.44 |
0.86 |
SFDH-042 |
158 |
180 |
22 |
0.13 |
53.89 |
0.75 |
0.03 |
0.13 |
2.17 |
1.30 |
Including |
158 |
171 |
13 |
0.19 |
87.11 |
1.00 |
0.04 |
0.18 |
3.14 |
1.88 |
SFDH-042 |
185 |
192 |
7 |
|
18.00 |
0.69 |
0.20 |
0.87 |
1.42 |
0.85 |
SFDH-042 |
197 |
204 |
7 |
|
21.69 |
0.50 |
0.03 |
0.05 |
1.15 |
0.69 |
SFDH-042 |
250 |
301 |
51 |
0.21 |
17.62 |
0.57 |
0.12 |
0.48 |
1.42 |
0.85 |
Including |
251 |
270 |
19 |
0.41 |
31.01 |
0.95 |
0.22 |
1.03 |
2.45 |
1.47 |
Including |
251 |
259 |
8 |
0.80 |
46.36 |
1.44 |
0.45 |
1.20 |
3.88 |
2.33 |
Including |
296 |
301 |
5 |
|
16.86 |
1.09 |
0.12 |
0.03 |
2.07 |
1.24 |
SFDH-042 |
474.2 |
491 |
16.9 |
|
5.36 |
0.17 |
0.03 |
0.18 |
0.36 |
0.22 |
SFDH-042 |
505 |
527 |
22 |
0.13 |
19.13 |
0.29 |
0.15 |
0.75 |
0.90 |
0.54 |
SFDH-042 |
541.1 |
545.8 |
4.7 |
|
38.54 |
1.22 |
0.04 |
0.21 |
2.60 |
1.56 |
SFDH-043 |
109 |
144 |
35 |
0.79 |
150.03 |
1.99 |
0.32 |
0.17 |
6.32 |
3.79 |
including |
109 |
127 |
18 |
1.24 |
282.87 |
3.57 |
0.59 |
0.28 |
11.35 |
6.81 |
including |
110.8 |
115 |
4.2 |
1.84 |
743 |
8.35 |
1.53 |
0.66 |
26.69 |
16.00 |
including |
130 |
135 |
5 |
0.73 |
14.40 |
0.36 |
0.04 |
0.08 |
1.54 |
0.92 |
SFDH-043 |
157 |
203 |
46 |
0.55 |
32.02 |
0.37 |
0.35 |
0.25 |
1.64 |
0.98 |
including |
157 |
177 |
20 |
1.09 |
48.60 |
0.42 |
0.30 |
0.06 |
2.51 |
1.50 |
SFDH-043 |
275 |
307 |
32 |
|
|
0.15 |
0.01 |
0.02 |
0.25 |
0.15 |
Table 1: Phase 2 and Phase 3 drill hole
intersections at the San Francisco de Los Andes breccia
pipe. Intersections are selected based on a 0.5 g/t Au or
0.3% Cu cut-off grade, a minimum downhole length of 2m and a
maximum waste inclusion of 2 consecutive meters. Equivalent gold
(AuEq) and equivalent copper (CuEq) values are calculated assuming
100% recovery using USD$ 1700/t oz Au, $25/t oz Ag and $4.0/lb Cu.
SFDH-036 (Solita Breccia) returned no economic intersections.
On Behalf of the Company,
Dr. Rohan Wolfe, Chief Executive Officer and Director.
Website: 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
info@turmalinametals.com.
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
mineralization 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.
Sampling and Analytic
procedure: Turmalina Metals follows systematic sampling
and analytical protocols which exceed industry standards and are
summarized below.
All drill holes are PQ, HQ or NQ diameter
diamond core holes. Drill core is collected at the drill site and
transported by vehicle to the Turmalina core logging facility in
Villa Nueva, where recovery and RQD (Rock Quality Designation)
measurements are taken before the core is photographed and
geologically logged. The core is then cut in half with a diamond
saw blade with half the sample retained in the core box for future
reference and the other half placed into a pre-labelled plastic
bag, sealed with a plastic zip tie, and identified with a unique
sample number. The core is typically sampled over a 1 to 2 meter
sample interval unless the geologist determines the presence of an
important geological contact. The bagged samples are then stored in
a secure area pending shipment to the ALS sample preparation
facility in Mendoza where they are dried, crushed and pulverized.
Following sample preparation the prepared pulps are then sent to
the ALS laboratory in Lima for assay. The samples are then analyzed
using a 50g aqua regia digest and fire assay-AA finish analysis for
gold and four acid digestion with ICP-MS analysis for 53 other
elements. Samples with results that exceed maximum detection values
for gold are re-analyzed by fire assay with a gravimetric finish
and other elements of interest are re-analyzed using precise
ore-grade ICP analytical techniques. Turmalina Metals independently
inserts certified control standards, coarse field blanks, and
duplicates into the sample stream to monitor data quality. These
standards are inserted “blindly” to the laboratory in the sample
sequence prior to departure from the Turmalina Metals core storage
facilities.
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.
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. Protocols related to COVID-19, and the
effects of the pandemic on service providers located throughout
South America, may lead to delays in the future reporting of
results.
Drill hole |
East |
North |
Elevation |
Azimuth |
Dip |
Depth (m) |
Prospect |
SFDH-016 |
442731 |
6592845 |
3032 |
30 |
-61 |
359 |
Chorrillos |
SFDH-036 |
439547 |
6588693 |
2952 |
192 |
-48 |
247.2 |
Solita |
SFDH-038 |
442487 |
6588488 |
2766 |
50 |
-72 |
241.7 |
San Francisco |
SFDH-040 |
442516 |
6588571 |
2772 |
181 |
-54 |
213.1 |
San Francisco |
SFDH-041 |
442514 |
6588498 |
2770 |
149 |
-59 |
58.6 |
San Francisco |
SFDH-042 |
442403 |
6588589 |
2735 |
144 |
-68 |
625.5 |
San Francisco |
SFDH-043 |
442569 |
6588432 |
2717 |
310 |
-67 |
418.7 |
San Francisco |
Table 2: Turmalina Metals Phase 2 drill hole locations
reported in this release. Co-ordinate projection - WGS84
UTM Zone 19 South.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bed3aff6-77e8-418e-bbc9-3c33cc1c8fa7
https://www.globenewswire.com/NewsRoom/AttachmentNg/f81388d6-f053-400f-b1d5-d9af5e5ea461
https://www.globenewswire.com/NewsRoom/AttachmentNg/e63ad02d-3e7e-4a90-86c0-d41b70bb7c8f
https://www.globenewswire.com/NewsRoom/AttachmentNg/16573e03-9e5c-4465-9d19-a22e031b8f10
https://www.globenewswire.com/NewsRoom/AttachmentNg/7b928a0a-4618-450b-97ee-2099753f85d9
https://www.globenewswire.com/NewsRoom/AttachmentNg/6fc91657-e7a6-4519-9f77-cb6da180a4fe
https://www.globenewswire.com/NewsRoom/AttachmentNg/56e5e2bb-085d-43fe-9cc7-5b26c69cdf1b
https://www.globenewswire.com/NewsRoom/AttachmentNg/a39569d2-c949-4a19-be92-a9543548b3cf
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