Turmalina Metals Corp. (“
Turmalina”, or the
“
Company”; TBX-TSXV, TBXXF-OTCQX) is pleased to
announce that 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 intersect
and extend high-grade copper-gold-silver mineralisation.
Drill holes SFDH-044, SFDH-45, SFDH-046 and
SFDH-047 determine the shape and orientation of the SFdLA breccia
pipe 100 to 400m below Phase 2 drilling, allowing better targeting
of contained mineralisation. SFDH-044 and SFDH-047 tested the
length of the breccia pipe along its east-west long axis and
completes a long section previously defined by holes SFDH-043 and
SFDH-042 (Figure 1). SFDH-045 and SFDH-046 tested the width of the
breccia pipe at depth along its north-south axis, completing a
central cross-section (Figure 2). The holes intersected:
- 17m @
4.33% Cu, 0.64 g/t Au & 108 g/t Ag
(9.5 g/t AuEq; 5.6% CuEq) SFDH-047 from 370m
- including
3m @ 18.98% Cu, 2.8 g/t Au & 431 g/t
Ag (41 g/t AuEq; 24 % CuEq) from 370m
- 33.5m @
0.62% Cu, 2.0 g/t Au & 46 g/t Ag (3.8 g/t AuEq; 2.2%
CuEq) SFDH-044 from 82.5m
- including
20.5m @ 0.91% Cu, 2.9 g/t Au & 61 g/t Ag (5.3
g/t AuEq; 3.1% CuEq) from 82.5m
- 7m @
1.21% Cu, 0.1 g/t Au & 61 g/t Ag (3.0 g/t AuEq; 1.8%
CuEq) SFDH-044 from 176m.
- 63.7m @
0.38% Cu, 0.1 g/t Au & 21 g/t Ag (1.0 g/t AuEq, 0.62%
CuEq) SFDH-045 from 334m.
- Including
18.7m @ 1.1% Cu, 0.1 g/t Au & 49 g/t Ag (2.7
g/t AuEq; 1.6% CuEq) from 379m.
After passing through the SFdLA breccia pipe
SFDH-046 intersected a new breccia complex adjacent to SFdLA
(Figure 2). This new breccia is a low-grade and quartz-rich
‘feeder’ assemblage that characterises the source of these
tourmaline breccia pipes, and raises the potential for further
sulphide-rich breccia pipes like SFdLA above and adjacent to this
newly discovered feeder.
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:
“The current drilling at the SFdLA breccia pipe
has returned some of the highest-grade copper-gold-silver
intersections encountered thus far. Our drilling continues to
expand and develop this remarkable pipe as highlighted by
intersections in excess of 5% copper equivalent returned from
SFDH-047, including some bonanza grades of nearly 20% copper.
These holes systematically tested the extent of
the breccia pipe at depth through a series of long- and
cross-sections, laying a sound geological foundation to guide the
exploration and development of the higher-grade mineralised zones
hosted within the breccia. The discovery of a new ‘feeder’ breccia
pipe at depth adjacent to SFdLA also raises the strong possibility
of other blind sulphide pipes in the vicinity.
The team at San Francisco have also completed a
comprehensive mapping and sampling campaign with the identification
of several high-priority breccia pipes that will be drill tested
over the coming months at the Project.”
One drill rig is currently drilling at San
Francisco, targeting mineralised zones between the deeper drilling
reported today and shallower Phase 2 drilling. A project-wide
mapping campaign has recently identified numerous high-priority
mineralised breccia pipes that will be drill tested in the coming
months.
Other Projects
The Company is pleased to announce that field
work has commenced at the company’s Chanape copper-gold project
located in the Lima District in Peru. Initial work is focused on
mapping and sampling the large number (>50) of outcropping
tourmaline breccias at the project and finalising permits for
drilling.
Channel sampling at two breccia pipes have
returned encouraging results from oxidised outcrops that do not
typically retain copper, including 38m @ 0.9 g/t
Au (Breccia 8) and 24m @ 1.4 g/t Au
(Breccia 11).
COVID-19
Approximately 44,000 cases of COVID-19 have now
been recorded in the state of San Juan, with a current rate of
approximately 800 new cases a day. As previously reported, over the
past two months nine cases of COVID-19 were detected in local
workers at the San Francisco project. These workers underwent
isolation in the nearby town of Calingasta and, upon recovery, have
returned to the Project. 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 |
Cu (%) |
Au (g/t) |
Ag (g/t) |
Pb (%) |
Zn (%) |
AuEq g/t |
CuEq % |
SFDH-044 |
82.5 |
116 |
33.5 |
0.62 |
2.02 |
47 |
0.33 |
0.54 |
3.76 |
2.22 |
Including |
82.5 |
103 |
20.5 |
0.91 |
2.87 |
57 |
0.08 |
0.08 |
5.25 |
3.10 |
SFDH-044 |
176 |
183 |
7 |
1.21 |
0.08 |
61 |
0.34 |
0.36 |
3.03 |
1.79 |
SFDH-045 |
334 |
397.7 |
63.7 |
0.38 |
0.10 |
21 |
0.20 |
0.69 |
1.05 |
0.62 |
Including |
379 |
397.7 |
18.7 |
1.09 |
0.13 |
49 |
0.39 |
1.29 |
2.70 |
1.59 |
SFDH-046 |
372.5 |
398.8 |
26.3 |
0.14 |
0.10 |
25 |
0.35 |
0.65 |
0.72 |
0.42 |
SFDH-046 |
432 |
435 |
3 |
0.41 |
0.08 |
13 |
0.78 |
0.55 |
0.96 |
0.57 |
SFDH-047 |
370 |
387 |
17 |
4.33 |
0.64 |
108 |
0.04 |
0.21 |
9.55 |
5.65 |
Including |
370 |
376 |
6 |
10.93 |
1.49 |
251 |
0.08 |
0.54 |
23.68 |
14.00 |
Including |
371 |
374 |
3 |
18.98 |
2.77 |
431 |
0.09 |
0.85 |
41.24 |
24.37 |
Table 1: 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$
1900/t oz Au, $28/t oz Ag and $4.5/lb Cu.
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.
Figure 1 – Drill hole SFDH-044 and
SFDH-047 long-section. SFDH-044 and SFDH-047 test the
length of the SFdLA breccia pipe along its east-west long axis, in
order to better target the contained mineralised bodies. The
high-grades in SFDH-047 highlight the high-grade nature of the
eastern
lobe.https://www.globenewswire.com/NewsRoom/AttachmentNg/d0301779-0ae8-49af-843d-49f3c05ae5a4
Figure 2 - Drill hole SFDH-045 and SFDH-046
cross-section. SFDH-045 and SFDH-046 test the width of the
SFdLA breccia pipe at depth along its north-south axis, completing
a central cross-section through both the mineralised margins and
the lower grade core. DFDH-046 intersected a second quartz-rich
breccia pipe to the south of SFdLA. While low grade this second
pipe is typical of the ‘feeder’ pipes at the base of tourmaline
breccias, and may indicate potential for further sulphide-rich
pipes in the
area.https://www.globenewswire.com/NewsRoom/AttachmentNg/59b715b7-9621-40df-a8b7-b3f1af99fc71
Figure 3 – High-grade breccia
mineralization in hole SFDH-047: Massive chalcopyrite with
minor pyrite and quartz. SFDH-047, 373.2m. From a 1m sample that
averaged 21.8 % copper, 4.16 g/t gold and 489 g/t silver.
Photograph is of a selected interval and is not necessarily
representative of mineralisation hosted throughout the
property.https://www.globenewswire.com/NewsRoom/AttachmentNg/a31d8fab-4245-43e4-8c24-36378ddd14b8
Figure 4 - Typical high-grade
sulphide-rich breccia mineralization in hole SFDH-047:
three metre interval of massive chalcopyrite within a
chalcopyrite-pyrite-quartz-tourmaline breccia. SFDH-047, 370 to
375.4m. Includes a 3m sample that averaged 18.98 % copper, 2.7 g/t
gold and 431 g/t silver. Photograph is of a selected interval and
is not necessarily representative of mineralisation hosted
throughout the
property.https://www.globenewswire.com/NewsRoom/AttachmentNg/820c6b35-1d9f-43e7-948e-b80bd018341b
Figure 5 – Typical breccia
mineralisation in hole SFDH-044: Tourmaline-silica altered
siltstone clasts set in a chalcopyrite-pyrite-quartz-tourmaline
matrix. SFDH-044, 179.80m. From a 1m sample that averaged 1.2 %
copper, 57 g/t silver and 0.03 g/t Au. Photograph is of a selected
interval and is not necessarily representative of mineralisation
hosted throughout the
property.https://www.globenewswire.com/NewsRoom/AttachmentNg/523aeab2-6bfd-4b41-8dc0-d4cc74577bd1
Figure 6 – Typical breccia
mineralisation in hole SFDH-045: Tourmaline-sericite
altered siltstone clasts set in a chalcopyrite-pyrite-tourmaline
matrix. SFDH-045, 385.30m. From a 1m sample that averaged and 2.0 %
copper, 80 g/t silver and 0.06 g/t gold. Photograph is of a
selected interval and is not necessarily representative of
mineralisation hosted throughout the
property.https://www.globenewswire.com/NewsRoom/AttachmentNg/f7c6503a-b8ea-4219-9826-348e80624199
Figure 7 – Typical tourmaline breccia
mineralisation in hole SFdLA-046: Tourmaline-silica
altered siltstone clasts set in a
tourmaline-quartz-pyrite-chalcopyrite matrix. SFDH-046, 376m. From
a 1m sample that averaged 0.62 % copper, 18 g/t silver and 0.11 g/t
gold. Photograph is of a selected interval and is not necessarily
representative of mineralisation hosted throughout the
property.https://www.globenewswire.com/NewsRoom/AttachmentNg/40ba70f8-0cbe-4d7d-97ff-eb52e84a6d1f
Figure 8 – Typical
quartz-tourmaline-actinolite ‘feeder’ breccia located to the south
of SFdLA. Sericite-chlorite altered siltstone clasts set
in a quartz-tourmaline-pyrite-actinolite-chlorite
matrix. This breccia assemblage is typically found
at the base of sulphide-rich tourmaline breccia pipes. SFDH-046,
688.20m. From a 1m sample that averaged 0.13 % copper, 6 g/t silver
and 0.02 g/t gold. Photograph is of a selected interval and is not
necessarily representative of mineralisation hosted throughout the
property.https://www.globenewswire.com/NewsRoom/AttachmentNg/b13fca3f-0867-49fb-8e00-82b646cf40be
Figure 9: San Francisco tenements with
main breccias and locations of drill holes. To date over
60 tourmaline breccias and veins have been mapped in the project
area. The Company has drill tested the San Francisco de Los Andes
(SFdLA), Chorrillos, Humilde, Solita and Colorada breccias.
Drilling at SFdLA has thus far focused on the south-east corner of
a composite breccia
body.https://www.globenewswire.com/NewsRoom/AttachmentNg/ad44f74e-feb2-40ea-b445-efb6af9818c0
Figure 10: Plan map of the SFdLA breccia pipe, showing
locations of drill holes reported in this news release.
The breccia remains open at depth and to the
west.https://www.globenewswire.com/NewsRoom/AttachmentNg/a9f699ad-ec11-48ed-a05a-bed8d9510096
Drill hole |
East |
North |
Elevation |
Azimuth |
Dip |
Depth (m) |
Prospect |
SFDH-044 |
442569 |
6588432 |
2717 |
307 |
-57 |
445.5 |
San Francisco |
SFDH-045 |
442413 |
6588365 |
2736 |
37 |
-65 |
471.9 |
San Francisco |
SFDH-046 |
442608 |
6588612 |
2762 |
216 |
-66 |
811.5 |
San Francisco |
SFDH-047 |
442644 |
6588357 |
2700 |
310 |
-69 |
638.8 |
San Francisco |
Table 2: Turmalina Metals Phase 2 drill hole locations
reported in this release. Co-ordinate projection - WGS84
UTM Zone 19 South.
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