Golden Tag Resources Ltd. (TSX VENTURE:GOG) ("Golden Tag") owning a
50% interest in the San Diego Property, Durango State, Mexico is
pleased to report results from three holes (SD-11-40, 44 and 38)
from a 12-hole, 10,400-meter exploration program recently completed
on the property. The San Diego project is a joint-venture with
Golden Minerals Company (NYSE Amex:AUMN)(TSX:AUM), headquartered in
Golden, Colorado who owns the remaining 50% interest. Some selected
significant intersections are noted below. In depth detailed
results in table form with an accompanying figure will be available
at www.goldentag.ca
Hole SD -11-38
-- from 152.50 to 154.39 m: 1.89 m grading 670 g/t Ag, 5.53% Pb, 16.22 %
Zn, 0.20 g/t Au (La Rata #1);
-- from 165.84 to 169.89 m: 4.05 m grading 293 g/t Ag, 0.92% Pb, 1.41 % Zn,
0.13 g/t Au (La Rata #2);
-- from 552.56 to 558.85 m: 6.29 m grading 68 g/t Ag, 1.64% Pb, 1.16% Zn,
0.17 g/t Au (Montanez);
-- from 675.45 to 676.73 m: 1.28 m grading 156 g/t Ag, 2.86% Pb, 3.16 % Zn,
0.23 g/t Au (San Jose);
-- from 754.97 to 795.67 m: 40.70 m grading 29 g/t Ag, 0.75% Pb and 0.70%
Zn, 0.04 g/t Au (South Corridor)
that includes:
-- from 780.24 to 793.11 m: 12.87 m grading 45 g/t Ag, 1.19% Pb, 1.17 %
Zn, 0.05g/t Au (South Skarn).
Hole SD-11-40
-- from 622.98 to 740.04 m: 117.06 m grading 42 g/t Ag, 1.0% Pb, 1.0% Zn,
0.02 g/t Au (South Corridor)
that includes:
-- from 660.11 to 708.40m: 48.29 m grading 71 g/t Ag, 1.84% Pb, 1.82 %
Zn, 0.01 g/t Au (Trovador);
-- from 724.93 to 740.04 m: 15.11 grading 82 g/t Ag, 1.55% Pb, 1.75%
Zn, 0.08 g/t Au (Trovador);
-- from 782.08 to 797.23 m: 15.15 grading 48 g/t Ag, 0.80% Pb, 0.86 %
Zn, 0.02 g/t Au (Lorenzo).
Hole SD-11-44
-- from 458.10 to 474.38 m: 16.28 m grading 80 g/t Ag, 1.78% Pb, 1.60 % Zn,
0.33 g/t Au (SD Vein + El Jal);
-- from 628.30 to 639.45 m: 11.15 m grading 103 g/t Ag, 2.24% Pb, 2.26% Zn,
0.15 g/t Au (Montanez FW);
-- from 663.58 to 679.57 m: 15.99 m grading 63 g/t Ag, 1.20% Pb, 1.20% Zn,
0.04 g/t Au (Montanez HW);
-- from 834.09 to 1025.60 m: 191.51 m grading 61 g/t Ag, 0.76% Pb, 1.44 %
Zn, 0.04 g/t Au (South Corridor);
that includes:
-- from 900.78 to 915.00 m: 14.22 m grading 75 g/t Ag, 1.22% Pb, 2.42%
Zn, 9.14 g/t Au (Trovador);
-- from 989.02 to 1013.65 m: 24.63m grading 189 g/t Ag, 2.04% Pb, 4.7 %
Zn, 0.12g/t Au (South Skarn);
-- from 1013.65 to 1025.60 m: 11.95 m grading 89 g/t Ag, 1.3% Pb, 1.7 %
Zn, 0.15 g/t Au (South Skarn).
Also included in this release are previously unreported results
from hole SD-08-35 drilled in Phase 4. The hole intersected
mineralization from 800 m to almost the end of the hole at 1,093
m.
Hole SD-08-35
-- from 617.50 to 802.15 m, 184.65 m grading 39 g/t Ag, 0.73% Pb, 0.91 %
Zn, 0.07 g/t Au (Central Corridor);
-- from 802.15 to 1078.70 m, 276.55 m grading 32 g/t Ag, 0.37% Pb, 0.97 %
Zn, 0.03 g/t Au (South Corridor).
True Widths are estimated to be 50% of core length for SD-11-40;
75% for SD -08-35 and SD-11-44; and 85% for SD-11-38.
Holes SD-11-40, 44 and 38 focused on testing the vertical
continuity of the principal veins between shallow surface holes and
the 300 to 400 m down dip intersections in holes SD-08-34 and 35
completed in Phase 4 in 2008 at vertical depths of 300 to 600
metres below valley bottom. All three holes intersected the
targeted veins. Drilling has confirmed that mineralization exists
in a central corridor from surface to 500 to 600 metres at depth.
Of significant importance is that these holes have tested further
to the south of any previous drilling, which has resulted in the
discovery of three new zones of mineralization to the south
referred to as the "South Skarn", "Trovador" and "Lorenzo" zones,
thought to occur in a "South Corridor". The horizontal widths of
these zones are substantial and together are currently estimated to
reach close to 250 m of total width. The new mineralized
environment to the south is hosted in hornfels-altered packages of
grey limestone and skarns and occurs as stringer zones and
carbonate replacement zones.
Management of the Joint-Venture is very excited by the discovery
of this new Corridor as these zones, while containing generally
lower grades, are of much larger widths, which could potentially
provide the project with targets amenable to a Bulk Mining
approach, one of the objectives of this Phase 5 of exploration.
Results presently in the process of being compiled from the
remaining holes of this phase, namely holes SD-11-41, 45, 46, and
37A have tested this new South Corridor area and will allow for
further correlation and projection of the applicable zones. Results
will be released in the near future as they become available. The
zones currently have the potential to extend over a vertical
distance of 400 to 600 metres and a horizontal distance of
approximately 250 metres. Mineralization remains open at depth and
on strike.
These new discoveries compliment and are in addition to the
earlier success on the property, which lead to a NI43-101 compliant
Resource estimate in 2009 (News Release: Jan 19th 2009) that
reported Indicated Resources of 0.371 million tonnes (MT) grading
245 g/t Ag, 1.80% Pb, 1.33 percent %Zn and 0.339 g/t Au
representing 4.25 Million Ounces of Silver Equivalent; and Inferred
Resources of 21.63 MT grading 110 g/t Ag, 1.84 % Pb, 2.21 % Zn and
0.134 g/t Au representing 214.3 Million Ounces of Silver
Equivalent. The Joint Venture partners are confident that both the
new southern zones and the continued exploration of the Principal
veins in the central corridor may lead to a marked increase in
Resources. A new Resource evaluation will be addressed in early
2012. The Deposit offers potential for both selective mining of
narrow, high grade veins, and, the bulk mining of wider stringer
and skarn zones. Tables and results have been compiled using
estimated costs of mining and cut offs of 60$/tonne for bulk mining
and $90/tonne for selective mining.
Quality Control: Mr. David Rigg, C.E.O. Golden Tag, P.Geo. and
QP under the definition of NI 43-101, has reviewed the technical
accuracy of this press release. Kateri Marchand, P.Geo, QP is
project manager on site has also confirmed all disclosures in this
release. Assay samples are taken from HQ/NQ/BQ size drill core cut
in half with one half sent to a commercial laboratory and other
half retained for future reference. Unless where mentioned
otherwise, all assay results represent the core length and may not
be representative of the true width. A strict QA/QC program is
followed which includes mineralized standards and blanks for each
batch of samples. Analyses were performed by ALS Chemex accredited
assay laboratories of Guadalajara (Mexico) and Vancouver (Canada).
All laboratory pulps and rejects are stored on site.
Cautionary Statement: Mineral Resources that are not mineral
reserves do not have demonstrated economic viability.
Disclaimer: Statements in the release that are "forward-looking
statements" are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ
materially. We undertake no duty to update any forward-looking
statement to conform the statements to actual results or changes in
our expectations.
Abbreviations: m - metres; MT - Million tonnes; g/t Ag - grams
silver per tonne; % Pb - percent Lead; % Zn - percent Zinc; g/t Au
- grams gold per tonne; oz.Ag.EQ. - Silver-Equivalent ounces.
To view the diagram associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/GOG_diagram1115.pdf
Contacts: Golden Tag Resources Ltd. Marc A. Carrier, President
and C.F.O. (514) 426-8542 (514) 426-8543;
(FAX)pres@goldentag.cawww.goldentag.ca
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