VANCOUVER, BC, Oct. 20, 2022 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the "Company" or "Soma") is pleased to announce that it has appointed Christopher Buchanan, the Company's Vice-President - Exploration. Chris is a structural geologist with over 24 years in the mineral exploration industry, including extensive experience with structurally controlled gold-quartz vein systems.
Mr. Buchanan holds a Hons. B.Sc. (Geology) degree from the University of Waterloo and a M.Sc. (Geology) degree from Memorial University. He is a registered Professional Geologist with the Association of Engineers and Geoscientists of Alberta and is a Qualified Person as defined by NI 43-101.
Chris will lead the Company's team of exploration geologists in Colombia and will direct the planned US $10 million-dollar, four-year exploration program on the Company's properties in Antioquia, Colombia. The Company's 29,000 Ha property follows the mineralized OTU fault in a North-South trend, from the current mining operations at el Bagre in the north through to the southern border of the property. This structural corridor continues south to Aris Mining's Segovia Complex, which produces 200,000 ounces of gold per year. The exploration program anticipates further mapping, soil and sediment sampling, geophysics and 20,000 meters of diamond drilling per year for the next several years.
Javier Cordova, President and CEO, states, "We are very pleased to be able to add a professional of Chris' stature to our team. The property is highly mineralized but structurally complex, and Chris' expertise in structural geology will be particularly useful as we continue to explore and unlock value from our highly prospective land package."
The Company also announces that operations at the La Ye, Mangos and Cordero mines and at the el Bagre mill have returned to full production after the two-week strike. Doré production has recommenced. The Company is still on track to pay off the NG Gold Loan in full by the end of 2022.
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (Permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.
The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.
On behalf of the Board of Directors
"Javier Cordova Unda"
Chief Executive Officer and President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.
SOURCE Soma Gold Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2022/20/c8577.html