Our teams have identified three new vein systems in the vicinity of
We are currently advancing seven vein systems within a recognized epithermal gold belt. The Project area is situated 70 road kilometers north of Austral Gold's Casposo mine, the closest similar epithermal gold system to our
The seven vein systems that we are currently exploring are:
- Recent mapping has traced the Veta Rica epithermal vein for over 700 m on surface with surface widths of 1 to 6 m: Surface rock chip 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 rock chip grades (typically 0.45 to 4 g/t Au). Detailed sampling is underway to identify potential high-grade zones in these newly discovered veins.
- Initial drilling in 2023 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.
- At
Veta Blanca an epithermal vein system has been mapped and sampled in an area 300 meters wide by 1.2km long. Vein thickness reach locally up to 3 meters with typical epithermal textures such as lattice textures and crustiform/colloform banding. - Limited grab samples to date have a maximum value of 1.48 g/t Au, with anomalous Pb and Zn – features typical of intermediate sulphidation epithermal systems.
- An access road is currently being prepared to facilitate detailed mapping and sampling, which will guide an initial drill program.
Veta 21 (Figures 8 & 9)
- Additional sampling at the Veta 21 vein, which had returned initial rock chip samples of up 21.1 g/t Au, has confirmed presence of high-grade gold, with new rock chip samples returning assays of up to 5.2, 10.9 and 44.2 g/t Au.
- The Veta 21 quartz-tourmaline vein, and adjacent sericite alteration, can be traced over a 1.2km strike length, and reaches up to 3 meters in vein thickness.
- An access road is currently being constructed to provide better exposures of the vein, with a detailed mapping and sampling program planned to guide initial drilling.
Mosquete
- Epithermal mineralization at Veta Rica is associated with a strong halo of elevated lead. Follow up investigation of a 300 by 700m lead soil anomaly at Mosquete has identified multiple epithermal quartz veins, up to 3 m wide and exposed over a 200m strike length, that have returned initial rock chip gold values of up to 5.6 g/t Au.
Destino (Figure 10)
- Four parallel epithermal quartz veins, and two adjacent breccias, discovered in 2023, are located 3 km northwest of
Veta Rica (Figures 2, 7, 8 & 9). - Initial rock chip 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.
Tiki-Tiki Breccia (Figure 11)
- The Tiki-Tiki tourmaline-quartz breccia pipe was discovered in 2023 in the southern portion of the Destino target area. 34 rock chip samples taken from the 200 by 150 m wide breccia pipe returned four samples over 1 g/t, up to a maximum of 32.8 g/t Au, 227 g/t Ag and 0.9% Pb.
Tocota Veins (Figures 12 & 13)
- Tocota is located 12 km north of
Veta Rica (Figure 2), with two east-west trending gold-arsenic vein systems that were mined in the 1940’s. - The Tocota veins are hosted in the sediments - siltstones and sandstones of the Carboniferous Agua Negra Formation, which is intruded by the Tocota Batolith.
- The veins are surrounded by a 2 to 6 meter wide sericite alteration halo, with abundant quartz veinlets.
- Channel sampling of old mine workings has confirmed strong gold mineralization, with channel samples of up to 5 to 27 g/t Au.
Mr
“The continued success of our exploration team in expanding the mineralized footprint of this newly discovered epithermal vein camp in
Figure 1: Regional view to the east showing the block of properties controlled by
Current Field Work
Surface works are ongoing with the recent arrival of a bulldozer to the site to prepare drill pads, access roads and support exploration with trench works.
Grant of RSUs
The Company announces it has granted 150,000 restricted stock units (“RSUs”) to officers, directors, employees, and consultants of the Company under the terms of the Company’s restricted share unit plan (the “RSU Plan”) and which have a two-year vesting period.
About
The 40,340 ha
Initial exploration efforts at
While the
Turmalina has developed an operational centre in the village 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 | To | Interval | Au | Ag | Cu | Pb | Zn | AuEq | CuEq |
(m) | (m) | (m) | (g/t) | (g/t) | (%) | (%) | (%) | g/t | % | ||
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,
Chief Executive Officer and Director
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
Figure 2:
Figure 3: Location of
Figure 4:
Figure 5:
Figure 6:
Figure 7: General view of
Figure 8: The Veta 21 quartz-tourmaline vein system has been traced over a 1.2 Km strike length, with rock chip gold assays of up to 44.2 g/t Au.
Figure 9: Veta 21 vein a) View westward, with sub-outcrop of quartz-tourmaline vein, locally to 3 m wide, hosted in granodiorite. Gold mineralization is focused within iron oxides along the brecciated margins of the vein. b) Rock chip sample of quartz-iron oxide breccia from vein margin that returned 5.2 g/t. c) Rock chip sample of brecciated quartz vein with a jarosite-rich matrix that that returned 21.1 g/t Au.
Figure 10: Map of Destino veins, with Tiki-Tiki breccia in the south. Veins are up to 3 meters thick, with rock chip gold assays of up to 6.2 g/t Au.
Figure 11: Tiki-Tiki Breccia. 200m x 150 m diameter breccia with gold values up to 32.8 g/t Au.
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Figure 12: Tocota veins. Previous mining targeted two main east-west trending quartz veins, 400 meters long and 30 to 40 meters apart. Gold values are particularly high when the veins cut north-trending diorite dykes. The main veins are surrounded by strong sericite alteration halos.
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Figure 13: Example of channel samples taken in old workings at Tacota, with gold assay values superimposed. The veins are hosted by siltstone and sandstones of the Agua Negra formation.
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Photos accompanying this announcement are available at:
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Figure 1:
Regional view to the east showing the block of properties controlled by Turmalina Metals with the main targets already drilled and drill targets for next campaign (red stars).
Figure 2:
San Francisco project mining rights and the main prospects. Red stars show the targets to be drilled in the next campaign.
Figure 3:
Location of Veta Rica and other targets discussed in this press release: exploration over the past 12 months has discovered a large number of epithermal veins around the initial Veta Rica discovery.
Figure 4:
Veta Rica with location of discovery holes SFDH-078 and 079 and planned follow up drill holes.
Figure 5:
Veta Blanca intermediate sulphidation epithermal vein, with rock chip assay results for Pb, and best assay results for Au, Cu, Ag and Zn.
Figure 6:
Veta Blanca : a) Three meter wide quartz-rich vein outcrop which returned a rock chip assay of 1.48 g/t Au b), c) and d) Examples of colloform and crustiform banding between dark grey silica and quartz, with bladed/lattice textures that are indicative of boiling in near-surface epithermal systems, along with brecciation indicating multiples pulses of injection.
Figure 7:
General view of Veta Blanca , with roads and recently prepared drill pads. Host rocks are granodiorites.
Figure 8:
The Veta 21 quartz-tourmaline vein system has been traced over a 1.2 Km strike length, with rock chip gold assays of up to 44.2 g/t Au.
Figure 9:
Veta 21 vein a) View westward, with sub-outcrop of quartz-tourmaline vein, locally to 3 m wide, hosted in granodiorite. Gold mineralization is focused within iron oxides along the brecciated margins of the vein. b) Rock chip sample of quartz-iron oxide breccia from vein margin that returned 5.2 g/t. c) Rock chip sample of brecciated quartz vein with a jarosite-rich matrix that that returned 21.1 g/t Au.
Figure 10:
Map of Destino veins, with Tiki-Tiki breccia in the south. Veins are up to 3 meters thick, with rock chip gold assays of up to 6.2 g/t Au.
Figure 11:
Tiki-Tiki Breccia. 200m x 150 m diameter breccia with gold values up to 32.8 g/t Au.
Figure 12:
Previous mining targeted two main east-west trending quartz veins, 400 meters long and 30 to 40 meters apart. Gold values are particularly high when the veins cut north-trending diorite dykes. The main veins are surrounded by strong sericite alteration halos.
Figure 13:
Example of channel samples taken in old workings at Tacota, with gold assay values superimposed. The veins are hosted by siltstone and sandstones of the Agua Negra formation.
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