Highlights of
- Recent mapping has traced the Veta Rica epithermal vein for over 700 m on surface with surface widths of 1 to 6 m: Surface gold assays are typically between 0.9 and 2.7 g/t Au but with higher grade zones of up to 56.6 g/t Au.
- This mapping has also identified multiple mineralized veins adjacent to, and parallel with, the Veta Rica vein (Figures 2, 3 & 4) with similar average grades (typically 0.45 to 4 g/t Au). Detailed sampling is underway to identify potential high-grade zones in these newly discovered veins.
- Recently announced drill holes at Veta Rica returned:
- 4.4 m @ 6.4 g/t Au; SFDH-078 from 36.6 m.
- Including 0.5 m @ 28.6 g/t Au from 36.6 m.
- And 0.45 m @ 14.12 g/t Au from 38.85 m.
- 8.75 m @ 3.5 g/t Au; SFDH-079 from 42 m.
- Including 6.0 m @ 4.6 g/t Au from 42 m.
- Including 1.18 m @ 17.9 g/t Au from 42 m.
- 4.4 m @ 6.4 g/t Au; SFDH-078 from 36.6 m.
Highlights of Destino Target Area
- A new system with at least four parallel epithermal quartz veins, and two adjacent breccias, located 3 km northwest of
Veta Rica (Figure 2, 7, 8 & 9). - Initial sampling (56 samples) of the veins, each with over 200 m of strike length, returned similar gold grades to
Veta Rica , with 10 samples over 1 g/t Au, up to a maximum of 6.1 g/t Au (Figure 7). - In the southern portion of the Destino target area, 34 samples taken from a 100 by 130 m breccia pipe (the Tiki-Tiki breccia) returned four samples over 1 g/t, up to a maximum of 22 g/t Au, 227 g/t Ag and 0.9% Pb.
Highlights of Machete Vein zone
- Located between
Veta Rica and Destino, 2.7 km northwest ofVeta Rica drilling, 3 rock chip samples taken from the Machete epithermal quartz vein returned grades of 1.1 to 2.7 g/t Au and 28 to 170 g/t Ag. Follow up sampling is underway (Figures 2 & 9).
Mr
“After an exciting discovery at Veta Rica, the exploration team quickly went to work and we have now greatly expanded the area of known mineralization at Veta Rica, with the vein traced for over 700 m strike length and several parallel veins identified. Additionally, the team has already identified two new epithermal gold vein and breccia systems at Destino and Machete, with high-grade gold rock chip samples at surface. Turmalina is excited at the opportunity these nearby vein systems represent for our team to add value to our well positioned land package. With these recent discoveries it is becoming clear we have discovered a new epithermal district in this established gold belt, and we look forward to keeping the market informed of our exploration progress over the coming months in what is a very exciting time for the Company.
Figure 1: Regional view northwest showing the block of properties controlled by
The Project area is located within a known epithermal gold belt. The nearest such epithermal gold system is located at Austral Gold’s Casposo mine, 70 road kilometres south of the Veta Rica discovery. Casposo produced 283,000 oz of gold and 9.6 M oz of silver with average grades of 4.8 g/t Au and 183 g/t Ag between 2011 and 2015 and another 32,000 oz of gold and 3 M oz of silver between 2017 and 2019 before the mill was placed back into care and maintenance (2017-2019 Austral Gold Annual Reports). The historic epithermal district of
Drill planning and budgeting are underway for a 4,000 m diamond drilling program focussed on testing and expanding targets within the Destino and
Figure 2: Geologic map showing veins, breccias and gold in rock chip samples across the Veta Rica, Destino and Machete target areas. Mapping and sampling have identified multiple mineralised veins at Veta Rica, Machete and Destino, and mapping is currently underway to define a potential new target in the top right of the map (21 g/t Au).
Figure 3:
Figure 4: Drone photo looking northwest showing 700 m strike length of
Figure 5: Photo of core in hole SFDH-078 and hand sample from outcrop at the extension along strike of
Figure 6: Examples of high-grade gold mineralisation in core samples and from an outcrop along strike from drilling at Veta Rica. Mineralisation is hosted in crystalline quartz (commonly brecciated) with intense sericite alteration and hematite-goethite-jarosite, formed by the weathering of sulphides.
Figure 7: Plan map of the newly discovered Destino vein and breccia system showing distribution of gold grades in rock chip samples that returned up to 22.2 g/t Au. Gold mineralisation is hosted within both epithermal quartz veins and adjacent quartz-tourmaline breccias.
Figure 8: Photos of an epithermal vein at Destino. Mineralization is hosted in epithermal quart veins (locally banded) and within intensely brecciated and sericite-altered granodiorite and diorite that hosted abundant hematite-goethite-jarosite veinlets.
Figure 9: Machete epithermal vein zone. The veins and gold mineralization are hosted in strongly sericite-altered granodiorite (a), with quartz veinlets (b) and portions brecciated with green/grey silica and iron oxides and jarosite. Float in the area includes samples of finely banded silica and iron oxide (d) and breccia with matrix of crystalline quartz (comb texture) with fragments of finally banded silica and iron oxides after sulphides (e), both textures typical of epithermal veins.
About
The 40,340 ha
Initial exploration efforts at
While the
Turmalina has developed an operational centre in the town of
Turmalina has several option agreements to acquire 100% of certain titles of the SFDLA project and a right to explore and exploit other titles from the government of San Juan.
Table 1: Selected highlight of previous Company drilling at the San Francisco Breccia Pipe | ||||||||||||||||
Hole ID | Target | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq g/t | CuEq % | |||||
SFDH-012 | SF BX | 12 | 121 | 109 | 4.94 | 109 | 1.13 | 0.23 | 0.06 | 8.00 | 5.49 | |||||
SFDH-039 | SF BX | 397.7 | 470 | 72.3 | 0.71 | 100 | 3.47 | 0.31 | 0.69 | 7.07 | 4.85 | |||||
SFDH-038 | SF BX | 0 | 81 | 81 | 2.33 | 63.94 | 0.23 | 0.23 | 0.38 | 3.50 | 2.40 | |||||
SFDH-011 | SF BX | 25 | 108 | 83 | 4.4 | 82 | 0.43 | 0.74 | 0.52 | 6.09 | 4.18 | |||||
SFDH-011 | SF BX | 27 | 68 | 41 | 7.03 | 91 | 0.51 | 0.23 | 0.02 | 8.96 | 6.14 |
*Intersections are not true widths and additional drilling and geological modelling of the mineralized zones in the breccia pipes is required to determine the true widths of the drill hole intersections. 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
On Behalf of the Company,
Mr
Website: turmalinametals.com
Address: #1507 - 1030 West Georgia St,
For Investor Relations enquiries, please contact Highland Contact at +1 833 923 3334 (toll free) or via info@turmalinametals.com.
Statements
About
Sampling and Analytic procedure:
For the collection of rock chip samples, geologists choose the best place to collect a sample based on local geology, point of interest, oxidization on surface, and other discerning features. With the aid of geological hammer, samples are broken from the outcrop and cleaned of vegetation and/or organic material. Sample descriptions are recorded and the UTM coordinate taken with a hand-held GPS. Samples are placed in a thick plastic bag and a pre-numbered sample tag placed in the bag. Sample mass is typically in the range of 3 to 5 kilograms. The outside of the bag is marked with permanent marker for easy reference. An aluminium tag with the sample number is placed at the location from where the sample was collected.
The assay results for the QA/QC samples are checked and verified by the project geologist and the Qualified Person. All such QA/QC assay results from sample dispatches reported in this news release have been found to be within acceptable industry limits, and the Qualified Person is not aware of any sampling, recovery or any other factors that could materially affect the accuracy or reliability of the data.
Qualified Person: The scientific, technical and analytical data contained in this news release pertaining to the
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
Figures accompanying this announcement are available at:
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Figure 1
Regional view northwest showing the block of properties controlled by Turmalina Metals with the drill target locations drilled in this campaign and the previously drilled San Francisco Breccia.
Figure 2
Geologic map showing veins, breccias and gold in rock chip samples across the Veta Rica, Destino and Machete target areas. Mapping and sampling have identified multiple mineralised veins at Veta Rica, Machete and Destino, and mapping is currently underway to define a potential new target in the top right of the map (21 g/t Au).
Figure 3
Veta Rica Surface map and sections showing drill holes and distribution of rock chip sampling of the Veta Rica vein. Sampling 300 m west of the drill pads has returned grades of up to 27 g/t Au, while samples 700 m west of the drilling has returned grades of up to 2.7 g/t Au.
Figure 4
Drone photo looking northwest showing 700 m strike length of Veta Rica , select surface rock chip samples and established drill pads. The Veta Rica vein remains open to both the west and, in the foreground, to the east where it passes under shallow cover.
Figure 5
Photo of core in hole SFDH-078 and hand sample from outcrop at the extension along strike of Veta Rica : Brecciated crystalline quartz surrounded by intense sericite alteration with iron oxide and jarosite, formed after weathering of sulphides.
Figure 6
Examples of high-grade gold mineralisation in core samples and from an outcrop along strike from drilling at Veta Rica. Mineralisation is hosted in crystalline quartz (commonly brecciated) with intense sericite alteration and hematite-goethite-jarosite, formed by the weathering of sulphides.
Figure 7
Plan map of the newly discovered Destino vein and breccia system showing distribution of gold grades in rock chip samples that returned up to 22.2 g/t Au. Gold mineralisation is hosted within both epithermal quartz veins and adjacent quartz-tourmaline breccias.
Figure 8
Photos of an epithermal vein at Destino. Mineralization is hosted in epithermal quart veins (locally banded) and within intensely brecciated and sericite-altered granodiorite and diorite that hosted abundant hematite-goethite-jarosite veinlets.
Figure 9
Machete epithermal vein zone. The veins and gold mineralization are hosted in strongly sericite-altered granodiorite (a), with quartz veinlets (b) and portions brecciated with green/grey silica and iron oxides and jarosite. Float in the area includes samples of finely banded silica and iron oxide (d) and breccia with matrix of crystalline quartz (comb texture) with fragments of finally banded silica and iron oxides after sulphides (e), both textures typical of epithermal veins.
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