TSXV: TBX
VANCOUVER, May 20, 2020 /CNW/ - Turmalina Metals Corp.
("Turmalina", or the "Company"; TBX-TSXV,
TBXXF-OTCQX) is pleased to announce that, during the past 48 hours,
it has received approval from the regulatory authorities in San
Juan, Argentina of its recently
submitted biosecurity protocols and as such can immediately
mobilize to the San Francisco
gold-silver-copper project (the "Project") to commence
drilling.
Highlights:
- Mobilization to site starting immediately.
- Upcoming drill program 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.
- Robust COVID-19 protocols in place for drilling program.
- Rapid response of government and community to COVID-19 pandemic
has led to only 3 cases of COVID-19 in San Juan state to date.
This phase two drill program will be a concurrent blend of
drilling at the San Francisco de
Los Andes (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 extensions to high-grade gold-copper-silver
mineralization encountered in the first phase of drilling. The
remaining 2,000 m will test
mineralized breccia pipes identified during the recently completed
mapping program. Please refer to our press release dated
March 6, 2020 for further details of
the planned drill program.
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.
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. 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.
Energold Drilling has been contracted to conduct the upcoming
drilling program at the project. 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.
Dr. Rohan Wolfe, Chief Executive
Officer, states:
"We are excited to commence
Phase 2 drilling at San Francisco.
Thanks to the rapid response of the government and community the
state of San Juan has been largely unaffected by the COVID 19
pandemic, with only a handful of cases to date. We welcome the
return to exploration and will enforce a rigorous set of procedures
to protect our team and the community. Our Phase 2 drilling program
at the SFdLA breccia pipe will test below and along-strike from the
high-grade intersections returned in our 2019 Phase 1 drill
program, which only tested the top 150m of the breccias pipe. In addition, we will
drill test four other breccias pipes identified during our summer
field program that returned significant rock chip assay results.
With our raising of $9.7M earlier in
the year we now have a strong balance sheet to support the
exploration and development of our projects."
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 Program
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.