Positive results from drilling at Chanape and surface works at
Chanape Project Highlights:
- Multiple mineralized breccias identified with preliminary drill testing.
- Only 5 of over 50 known mineralised breccias drill tested to date.
- Select highlights of recent drilling in Table 1 include results such as:
- CHT-DDH-038: 39.6 m of 3.10% CuEq from 60 m
- CHT-DDH-041: 48.05 m of 3.80% CuEq from 165.7 m
San Francisco Project Highlights:
- Land position expanded to 40,340 ha (403.4 sq km): one of the largest exploration land positions in San Juan.
- Seven new high-priority targets identified.
- Recent work includes 8,406 soil samples, 1,333 m of channel samples and 7386 rock chip samples.
- Highlight results from recent work include (see Company news release of
December 7, 2022 ):Tres Magos - 18 rock chip samples and 50 channel samples over 1 g/t Au, including 12m @ 7.1 g/t Au and 115 g/t Ag, 3.7m @ 1.71 g/t Au and 102 g/t Ag, 3.5m @ 1.6 g/t Au and 30 g/t Ag and 3m @ 3.2 g/t Au and 186 g/t Ag;
Veta Amarilla - 5 rock chip samples over 1 g/t Au and 8 rock chip samples over 100 g/t Ag;
- Breccia Ethan
- 4 rock chip samples over 1 g/t Au and 12 rock chip samples over 1% Cu;
Veta Rica - 18 rock chip samples over 1 g/t Au, with up to 56 g/t Au.
- Highlight results from previous Turmalina drilling on the
San Francisco de Los Andes Breccia Pipe are summarized in Table 3 and include results such as:- SFDH-012: 109 m of 5.49% CuEq from 12 m in oxides
- SFDH-039: 72.3 m of 4.85% CuEq from 397.7 m in sulphides
Mr
“With excellent results from the 2022 exploration efforts in hand for the Chanape and San Francisco Projects our team is excited to be financed and ready to advance the multiple targets identified at
At
At Chanape the exploration team is awaiting approval of an enlarged permit area for drilling that will enable drill-testing priority Cu-Au-Ag breccias outside of those tested in the initial phase of drilling. A diamond drilling program is expected to commence in May and will include additional definition of the mineralized breccias tested to date as well as new, previously untested targets.
The 677 ha Chanape copper-gold project is located approximately 87 km east of
Table 1 - Highlight Results of the 2,257m Chanape total Phase 1 Program carried out in 2022 (see news releases dated
Hole ID | From | To | Interval | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq g/t | CuEq % | |
CHT-DDH-034 | Breccia 8 | 60 | 99.6 | 39.6 | 3.79 | 18.38 | 0.45 | 0.01 | 0.01 | 4.71 | 3.10 |
CHT-DDH-034 | including | 65.5 | 74 | 8.5 | 9.21 | 27.44 | 0.48 | 0.01 | 0.01 | 10.28 | 6.76 |
CHT-DDH-037 | Breccia S Antonio | 31.4 | 64.8 | 33.4 | 1.55 | 66.21 | 0.18 | 1.70 | 0.02 | 2.66 | 1.75 |
CHT-DDH-037 | including | 47.9 | 58.2 | 10.3 | 4.25 | 75.87 | 0.28 | 4.45 | 0.04 | 5.64 | 3.71 |
CHT-DDH-040 | Veta Colorada | 77.67 | 79.47 | 1.80 | 2.35 | 11 | 0.18 | 0.05 | 0.02 | 2.76 | 1.83 |
CHT-DDH-041 | Breccia Clint | 165.7 | 213.75 | 48.05 | 0.90 | 178 | 1.67 | 0.05 | 0.20 | 5.73 | 3.80 |
CHT-DDH-041 | including | 165.7 | 167.9 | 2.20 | 0.70 | 3349 | 10.82 | 0.18 | 0.28 | 60.5 | 40.1 |
CHT-DDH-041 | including | 192.19 | 212.6 | 20.41 | 1.01 | 47 | 2.23 | 0.04 | 0.12 | 4.98 | 3.31 |
CHT-DDH-041 | Breccia Clint | 222.27 | 236.66 | 14.39 | 0.98 | 56 | 2.17 | 0.05 | 0.09 | 4.98 | 3.30 |
CHT-DDH-043 | Breccia 8 | 59.65 | 108.7 | 49.05 | 1.14 | 20 | 0.34 | 0.03 | 0.01 | 1.90 | 1.30 |
CHT-DDH-043 | including | 94.7 | 107 | 12.3 | 1.95 | 29 | 0.44 | 0.06 | 0.01 | 2.97 | 2.04 |
CHT-DDH-044 | Breccia 8 | 64.2 | 134.35 | 70.15 | 1.01 | 20 | 0.75 | 0.03 | 0.01 | 2.36 | 1.62 |
including | 86.5 | 97.18 | 10.7 | 2.34 | 15 | 0.86 | 0.01 | 0.01 | 3.79 | 2.60 | |
including | 109.8 | 134.35 | 24.55 | 1.04 | 41 | 1.40 | 0.06 | 0.03 | 3.61 | 2.48 | |
CHT-DDH-044 | Breccia Clint | 173.3 | 203.93 | 30.63 | 0.54 | 33 | 1.65 | 0.03 | 0.06 | 3.37 | 2.31 |
Including | 191.86 | 203.93 | 12.07 | 0.64 | 48 | 2.01 | 0.04 | 0.07 | 4.20 | 2.88 |
*Intersections are not true widths and additional drilling and geological modelling of the mineralised 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
Figure 1 -
Turmalina’s work to date has been focused on interpreting historic work while mapping and sampling over 50 documented tourmaline breccias and epithermal veins at the project and drill-testing the best targets. A phreato-magmatic breccia, measuring 700 m by 200 meters has also been identified as a potential target for bulk tonnage mineralisation, with gold anomalism coincident with a geophysical anomaly (IP).
Turmalina has an option to acquire 100% of the
The 40,340 ha
The land position at
Turmalina has developed an operational centre in the town of
Turmalina has several option agreements to acquire 100% of the SFDLA project.
Table 2 - Current exploration targets at the
Mineralisation Style | Work Completed | Planned Work | |
Intrusion-related, stockwork veining with sericitic alteration | Geological mapping, soil sampling, 83 rock chip samples and 391 channel samples over 439 meters. | Build roads to generate road cuts for continuous channel sampling in mineralised areas and prepare access and platforms for drilling | |
Intermediate sulphidation epithermal vein with Au-Ag-Pd mineralisation | Geological mapping, soil sampling, 52 rock chip samples and 92 channel samples | Build roads for drill access and expose the veins for further channel sampling. | |
Breccia Ethan | Quartz-tourmaline Breccia with Au-Ag-Cu mineralisation | Geological mapping, soil sampling, 35 rock chip samples | Build roads to expose the breccia for continuous channel sampling and prepare access for drilling. |
Breccia Perdida | Quartz-tourmaline breccia with Au mineralisation | Geological mapping, 14 rock chip samples and 35 channel samples. | Build roads to expose the breccia for continuous channel sampling and prepare access for drilling. |
Quartz vein with Au-Ag mineralisation | Geological mapping, 23 rock chip samples and 17 channel samples. | Build roads to expose the veins for channel sampling and prepare access for drilling | |
Quartz-tourmaline vein with Au-Ag-Cu mineralisation | Geological mapping, 49 rock chip and 83 channel samples | Build roads to expose the veins for continuous channel sampling and prepare access for drilling. | |
Low sulphidation Au-Ag epithermal vein | Geological mapping and 173 rock chip samples. | Detailed mapping of the Alumbrera vein system (1.8 km long and up to 20 m thick) and further rock chip and channel sampling focused on the silicified portions of the predominantly carbonate vein. |
Table 3 - Selected highlight results from
Hole ID | Target | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq g/t | CuEq % |
SFDH-012 | SFDLA BX | 12 | 121 | 109 | 4.94 | 109 | 1.13 | 0.23 | 0.06 | 8.00 | 5.49 |
SFDH-039 | SFDLA BX | 397.7 | 470 | 72.3 | 0.71 | 100 | 3.47 | 0.3146 | 0.6915 | 7.07 | 4.85 |
SFDH-038 | SFDLA BX | 0 | 81 | 81 | 2.33 | 63.94 | 0.23 | 0.23 | 0.38 | 3.50 | 2.40 |
SFDH-011 | SFDLA BX | 25 | 108 | 83 | 4.4 | 82 | 0.43 | 0.74 | 0.52 | 6.09 | 4.18 |
SFDH-011 | SFDLA 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 mineralised 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
Figure 2 - Current exploration targets at the 40,340ha
Grant of Options
Additionally, the Company wishes to announce the grant of 50,000 incentive stock options with an exercise price of
Marketing Agreements
The Company also wishes to announce it has entered into (i) an agreement (the “OGIB Agreement”) with OGIB Corporate Bulletin (“OGIB”) dated
Pursuant to the OGIB Agreement, OGIB will provide promotional services to the Company, including the publication of a series of online articles about the Company, for six months. The Company will pay OGIB
OGIB is a subscription service based out of
Pursuant to the Peterson Capital Agreement,
On Behalf of the Company,
Mr
Website: turmalinametals.com
Address: #488 - 1090 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
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
There is no assurance when the government-imposed measures related to COVID-19 in
Photos accompanying this announcement are available at
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Figure 1
Chanape Project - Geology and Prospects Drilled in 2022. The Project is characterised by over 50 tourmaline breccia pipes (purple) and multiple epithermal vein systems (red).
Figure 2
Current exploration targets at the 40,340ha San Francisco project.
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