Golden Tag Set to Recommence Drilling on San Diego TORONTO, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. (“Golden Tag” or the "Company") (TSX.V: GOG) (OTCQB: GTAGF) is pleased to announce that diamond drilling is set to recommence on the Company’s 100% owned San Diego Project, located in Durango Mexico. After pausing briefly at year-end, Major Drilling has commenced mobilization to site and is expected to restart drilling within the next few days.
The current expanded 4,500 metre (“m”) diamond drill exploration program is a follow up to the 4,716 m of diamond drilling that had previously been completed and reported in 1H, 2021. As of December 20, 2021 a total of 2,350 m has been drilled, leaving approximately 2,150 m of additional drilling to be completed. In Q4, 2021 a total of 1,675 samples were sent to ALS Geochemistry for assaying, and results from the first hole are expected shortly.
Key highlights from the first phase of 2021 drilling include (1):
- Discovery of new near-surface epithermal mineralization in hole 21-57 with the intersection of 75.89 g/t Ag.Eq over 273.65 m commencing near surface (57 Target). This interval incorporates a series of epithermal breccias and quartz-carbonate veins which includes a higher-grade interval returning 892.25 g/t Ag.Eq over 10.00 m.
- Discovery of the 1849 Zone with hole 21-57 returning 116.76 g/t Ag.Eq over 66.04 m within a broader interval of 91.86 g/t Ag.Eq over 134.37 m and confirming the mineralization trend between historic holes 12-49 and 07-18 which extends over a 500 m vertical distance. The 1849 Zone is open along strike and dip and represents a new broad zone of skarn mineralization with bulk tonnage potential at the northwest contact of the Central Diorite approximately 120 m northwest of the Fernandez Zone.
- Discovery of the Trovador Structural Zone (“TSZ”) with infill sampling of historic hole 11-42 returning 88.54 g/t Ag.Eq over 175.30 m and hole 21-56A returning 105.77 g/t Ag.Eq over 116.45 m. To date the TSZ has been identified over a total vertical extent of approximately 550 m, commencing at 245 m below surface, and remains open along strike and down dip.
- Discovery of new high-grade skarn zones above the Fernandez Zone with hole 21-58 intersecting 306.09 g/t Ag.Eq over 6.55 m and 257.67 g/t Ag.Eq over 16.34 m (Upper Skarn).
- Discovery of skarn shoots above and to the south of the Fernandez Zone in holes 21-54 and 21-55 (S Skarn Shoots). Hole 21-54 intersected 286.02 g/t Ag.Eq over 18.43 m, within a broader skarn zone of 91.98 g/t Ag.Eq over 99.53 m approximately 70 m southeast, and 190 m above the Fernandez Zone.
- Extension of Fernandez Zone mineralization 63 m to the southeast with hole 21-56A returning 106.93 g/t Ag.Eq over 86.64 m and 97.29 g/t Ag.Eq over 169.83 m (SE Fernandez Extension).
- Extension of Fernandez Zone mineralization 40 m toward surface and 20 m to the south with hole 21-53 returning 104.64 g/t Ag.Eq over 50.17 m (Fernandez Extension).
- Confirmation of the continuity of mineralization within the western part of the Fernandez Zone with hole 21-58 returning 111.00 g/t Ag.Eq over 191.57 m approximately 102 m north-northwest of historic hole 12-48 and 80 m southwest of hole 12-49 (West Fernandez Target). The mineralization intersected in hole 21-58 was a 34% improvement in grades over the nearest intercept within hole 12-48.
- Infill sampling of historic hole 11-40 resulted in a 10% increase in the reported grade of the mineralization within the Fernandez Zone to 101.96 g/t Ag.Eq over 298.02 m.
(1) As disclosed in news release dated October 13, 2021. All results in this release are rounded. Assays are uncut and undiluted. Widths are core-lengths, not true widths as a full interpretation of actual orientation of mineralization is not complete. Silver equivalent: Ag.Eq g/t was calculated using 3-year trailing average commodity prices of $17.75/oz Ag, $0.90/lb Pb, $1.20/lb Zn, $1500/oz Au, and $2.85/lb Cu. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value, the Company is planning to perform additional metallurgical studies later in 2022. Drill intercepts from historical holes 11-42 and 11-40 were calculated using the current silver equivalent parameters outlined above. Please refer to Company news releases dated February 17, April 14, May 6, May 27, June 10, July 15, and September 8, 2021 for further details on these intervals.
Sample Analysis and QA/QC Program
Golden Tag Resources uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. Drill core is photographed, logged, and cut in half with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in Vancouver, Canada and Lima, Peru for analyses. The entire sample is crushed to 70% passing -2 mm and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric finish (Au-GRA21). Samples are also analyzed using a 35 element inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by aqua regia (ME-ICP41). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than 1,500 g/t samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-GRA21). No QA/QC issues were noted with the results reported herein.
True widths of drill intercepts have not been determined. Assays are uncut except where indicated.
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by Bruce Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Toronto based mineral resource exploration company. The Company holds a 100% interest, subject to a 2% NSR, in the San Diego Project, in Durango, Mexico. The San Diego property is among the largest undeveloped silver assets in Mexico and is located within the prolific Velardea Mining District. Velardea hosts several mines having produced silver, zinc, lead and gold for over 100 years. For more information regarding the San Diego property please visit our website at www.goldentag.ca.
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: 416-504-2020
Email: info@goldentag.ca
www.goldentag.ca