Golden Tag Resources (GOG) is initiating a Geologic Interpretation Program in partnership with Orix Geoscience 2018 Inc.
The partnership will enhance the geological understanding of the company’s 100 per cent owned San Diego Project. The San Diego property is among the largest undeveloped silver assets in Mexico and is located within the prolific Velardeña Mining District.
Velardeña hosts several mines having produced silver, zinc, lead and gold for over 100 years.
The Geological Interpretation Program will encompass a comprehensive review of the lithology, alteration, structure, and assay datasets to understand the controls at the San Diego Project.
Initial drill results from the first three drill holes of the 2020-21 exploration campaign confirmed the company's previous understanding of the deposit, and have also identified the potential for near-surface open-pit style skarn mineralization.
The primary objective of the interpretation is to better define locations of broad zones of skarn mineralization, which may have been previously unrecognized using the vein interpretation model, as well as incorporating the results from previously defined veins and the current 2021 exploration program into updated mineralized wireframes that can support future resource estimation modelling. A secondary objective of the program is to enhance future drill targets and tie together known zones.
The Geologic Interpretation Program is underway and will continue until approximately the third quarter of 2021.
"We look forward to working with Orix’s strong team, to jointly enhance the geological model, which to date was generated from the exploration programs performed from 2006-2012. The new understanding of the broad zones of skarn style mineralization will helping to locate future drill targets, explaining the results to investors, and integrating results into future mineral resource updates," said Golden Tag Resources President and CEO Greg McKenzie.
Golden Tag Resources is a Toronto based mineral resource exploration company. The company holds a 100 per cent interest, subject to a 2 per cent Net Smelter Royalty (NSR), in the San Diego Project.
Shares of Golden Tag Resources are up 3.95 per cent, trading at C$0.40 at 12:15 pm ET.