The underground
Tarachi VP of Exploration and Director,
Based on the drilling and mapping done to date, the Tarachi geology team believes the gold is hosted in a 10-20m thick panel of heavily silicified rhyodacite striking roughly north-south, dipping to the east at an approximate angle of 30o and plunging to the south at 25o. Higher grade gold mineralization is suspected to be concentrated within this panel in vertical zones or shoots running east-west. Hole JAB-21-09, which was drilled to the southeast, shows evidence of this with its multiple higher-grade subintervals including more than an ounce per tonne of gold over 5.6m.
The results from drill hole JAB-21-09 are very similar in both grade and length to last year's channel sample across the north-south face of the underground workings which returned 6.34g/t Au over 62.55m and also contained many subintervals of 1 to 6m with grades between 7.4 and 55.2 g/t Au. Combined, the channel sampling and two rounds of drilling demonstrate a strike length of over 100m of high-grade mineralization that remains open along strike to the south and down dip to the east. The potential to find continuation of the mineralized zones to the west, on the other side of a fault found in the underground workings, is undetermined at this time. To the north, the unit appears to come to surface not far from the
Hole JAB-21-10, drilled to the east, appears to have remained within the mineralized panel for a considerable length but likely did not intersect as many of the higher-grade east-west trending zones.
Hole JAB-21-08, drilled to the south at a dip of 30o, may have exited out the bottom of the main mineralized panel early on. The 11.7m intersection of 2.48g/t starting from 71.15m down the hole may represent the hole re-entering the main panel or possibly an additional mineralized structure that is parallel to and below the main panel. Deeper intercepts were also encountered in holes JAB-21-10, JAB-20-04 and JAB-20-06. Drill hole JAB-20-06, drilled from the same pad at an azimuth of 150o and dip of 30o, intercepted 2.22g/t Au over 8.5m starting from 74m downhole. The RC surface drilling program is expected to provide greater clarity as to the true thickness of the panel as well as if there are additional parallel structures at depth or if the deeper intercepts are still part of the main mineralized panel.
The target panel has been found to be very poor in sulphide mineralization with only minor veinlets containing sulphides found in some holes. In the gold-rich intersections, iron averages less than 1%, sulphur less than 0.1%, copper less than 20ppm and lead about 60ppm. Silver values typically range between 1-5g/t.
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This news release includes certain 'Forward-Looking Statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' under applicable Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target', 'plan', 'forecast', 'may', 'would', 'could', 'schedule' and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: future exploration programs, including the completion of drill holes; potential mineralization and receipt of assay results.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Tarachi, future growth potential for Tarachi and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Tarachi's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Tarachi's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and Tarachi has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in
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Email: cameron@tarachigold.com
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