TSXV: TBX
VANCOUVER, Dec. 19, 2019 /CNW/ - Turmalina Metals Corp.
("Turmalina" or the "Company") is pleased to announce
that the company is following up on its recently reported initial
drill program at the San Francisco
project (the "Project") located in the mining-friendly state
of San Juan, Argentina by
assessing multiple additional breccias now identified on the
property.
Recent drilling by the Company intersected high-grade
gold-silver mineralization in multiple holes (i.e. 36.95m @ 6.31 g/t Au, 122 g/t Ag & 0.88% Cu
for 8.7 g/t AuEq) at one breccia pipe on the Project, the
San Francisco de Los Andes breccia
("SFdLA"; see Turmalina News Release dated December 9, 2019 for details).
The Company is now conducting an aggressive field program at the
Project with the aim of defining, sampling and prioritising the
large number of other breccias on the Project. Highlights of recent
field work include:
- Mapping by the Company, which has already covered 70% of the
3404 ha Project, has defined 67 breccias, of which several have
supported historic artisanal gold workings at surface.
- A soil sample grid at 100m
spacing has already covered 30% of the project licence and rock
chip sampling has been undertaken to further define targets
(Figures 1 and 2).
Dr. Rohan Wolfe, Chief Executive
Officer, states:
Turmalina is very pleased with the multiple intersections of
high-grade gold at the SFdLA breccia pipe but it is important to
note that this SFdLA breccia is only one breccia in a cluster of at
least 67 other breccias on the Project. This cluster of
breccias allows Turmalina a path to target ounces at the Project
through not only further drilling at SFdLA which is open at depth
and laterally and appears to be flaring out at depth as previously
reported, but also via these additional areas in near proximity to
one another. We have wasted no time in commencing an aggressive
field program to locate all mineralised breccias at the
Project.
The current focus of field program is the mapping, sampling
and prioritising of all breccias on the property, with the aim of
defining drill targets for an early 2020 drill program that will
test both regional targets and extensions to the high grade SFdLA
breccia pipe. As our field program continues we expect to discover
new mineralised breccias, and I am happy to report that we are on
schedule to complete the first phase of mapping and sampling at the
Project by February
2020."
About the San Francisco Project, San Juan, Argentina
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.
About the Turmalina Project, Piura, Peru
Turmalina has entered into an agreement to explore the Turmalina
copper-gold molybdenum project located in Piura, Peru (the 'Turmalina Project'). The
Turmalina Project hosts a cluster of undrilled tourmaline breccias
that were historically mined for copper, gold and molybdenum. The
Company is currently engaged in the permitting process and will
commence exploration on completion of permitting and the filing of
a 43-101 report.
Work Program
The current summer field program at San Francisco in San Juan, Argentina aims extend geological mapping and
geochemical sampling (both rock chips and soils) over the entire
Project area. High-priority breccia targets defined by this
first-pass sampling will then be subject to detailed mapping and
channel sampling prior to the selection of drill targets for an
early 2020 drill program that will test both regional targets and
extensions to the SFdLA breccia pipe. The company is also
consolidating our regional holdings, with the project area being
one section of an 80 km long gold-copper mineralised
belt.
At the Turmalina Project in Peru, the Company is conducting social
studies, validating mine grades and applying for all required
permits before deciding whether to commit to exploration. The
company plans to commission a third-party review of the property,
with the aim of lodging a 43-101 compliant report in the new
year.
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-molybdenum 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
molybdenum 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.
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SOURCE Turmalina Metals Corp.