Golden Tag Expands Bulk Mining Potential With 148 g/t AgEQ(i) Over 241 Metres and 119 g/t AgEQ(i) Over 233 Metres on the San ...
24 Settembre 2012 - 3:56PM
Marketwired Canada
Golden Tag Resources Ltd. (TSX VENTURE:GOG) is pleased to announce encouraging
results from three recent drill holes in an ongoing surface drill program on the
San Diego Property, Velardena Mining District, Durango State, Mexico. These
holes confirm a 100 m extension to the west of wide zones of mineralization
discovered in 2011. The westward extension of mineralization crosses from
limestone into the adjacent Diorite Intrusion where a large area of
mineralization hosted in altered and silicified Diorite (Endoskarn) is being
delineated. Mineralization currently has an apparent strike length of 200 m, a
width of 130 m and a vertical height of 300 m. Mineralization remains open and
further drilling will be needed to establish the exact geometry of the new zone.
The discovery increases the potential for the deposit to be bulk mining
amenable.
Highlights of the new results presented in Tables 1 and 2, include:
Hole SD-12-47
-- 232.72 metres grading 119 g/t Ag.EQ with 53 g/t Ag, 0.48% Pb, 1.34% Zn
and 0.17% Cu; (763.5 feet grading 3.47 oz./T Ag.EQ ), including:
-- 154.32 m grading 132 g/t Ag.EQ with 57 g/t Ag, 0.49% Pb, 1.60% Zn
and 0.20% Cu (506.3 feet grading 3.85 oz./T Ag.EQ),
Hole SD-12-49
-- 240.85 m grading 148 g/t Ag.EQ with 63 g /t Ag, 0.77% Pb, 1.59% Zn and
0.20% Cu (790.2 feet grading 4.32 oz/ T Ag.EQ),Including:
-- 159.05 m grading 158 g/t Ag.EQ with 68 g /t Ag, 0.77% Pb, 1.74% Zn
and 0.22% Cu (521.8 feet grading 4.61 oz./T Ag.EQ)
Trovador Vein:
-- 16.80 m (12.0 m true width) grading 434 g/t Ag.EQ with 118 g /t Ag,
1.10% Pb, 9.2% Zn and 0.41% Cu (55.1 feet grading 12.66 oz./T Ag.EQ).
(i)Ag Equivalent (Ag.EQ) Calculation uses US$ commodity prices based on
three-year moving average of: $1300/oz. Au; $24.50/oz. Ag; $0.90/lb Zn; $0.95/lb
Pb; $3.25/lb Cu applying 100% recovery of all metals. All reported lengths are
core lengths. T = short ton; T = metric tonne.
The property is a 50/50 joint venture between Golden Tag and Golden Minerals
Company (NYSE Amex:AUMN)(TSX:AUM). Golden Tag is the operator and is earning an
additional 10% interest in the property by incurring $3 million of exploration
expenses (see News Release: March 28, 2012).
Hole SD-12-47 was drilled 70 m to the west of a large area of stringer
mineralization identified during the phase 5 drilling in 2011 (see News
Releases: November 15, 2011, December 12, 2011 and January 31, 2012). Hole
SD-12-48 (Table 2) is located approximately 300 m directly above -47 and
intersects near the upper limit of the mineralized endoskarn. Hole SD-12-49 was
designed to cross obliquely and midway between, holes -47 and -48 to confirm the
true widths of mineralization and to link with drilling in 2011.
Hole 49 also encountered stringer-style mineralization on the Diorite Western
Contact (Table 2) with results of 151 g/t Ag.EQ over 18.40 m at a depth of 440.8
m including 259 g/t Ag.EQ over 7.43 m at 445.8 m. These results are of
particular interest since this occurrence could be indicative of a similar
underlying zone of mineralized endoskarn at the western contact, 150 m to the NW
of the new Endoskarn zone.
On Going Exploration
Hole SD-12-50 has been recently completed 100 m northeast of - 49 as a step-out
hole drilled to test for the extension of mineralization to the north. Samples
have been submitted to the assay laboratory. Hole SD-12-50W, a wedge cut from
hole -50, is an infill hole midway between holes -49 and -50. The hole is
currently in progress and will the last hole of the phase 6 program. Assay
results from these two holes will be issued when available.
Six phases of exploration drilling representing over 31,000 metres of drilling
have shown that the property offers potential for mining from a variety of
sources. Narrow high grade veins at surface have very strong strike and dip
continuity and more importantly, at depth these veins are often associated with
wider zones of mineralization. The wider zones often contain massive sulphides
due to carbonate replacement and/or mineralized stringer zones.
Golden Tag is encouraged, particularly by results to date in this phase 6
program where a new style of mineralized endoskarn was discovered. This provides
further support for a potential Bulk Mining model for the deposit. It is clearly
a large zone, which remains open for further expansion within and around the
contacts of the Diorite.
2012 Mineral Estimate and Technical Report
The Company is advancing an updated NI 43-101-compliant Resource Estimate which
is expected in late November, 2012. The technical report will revise Resource
estimates made in 2009 and include the results from 10,400 m of drilling
completed as phase 5 in 2011, and the additional 5,500 m of drilling in the
current phase 6 program.
Quality Control
Mr. David Rigg, C.E.O. Golden Tag, P.Geo. and Ms. Kateri Marchand, P.Geo, San
Diego Project Manager; both Qualified Person's under the definition of NI
43-101, have supervised the work program and have reviewed the technical
accuracy of this press release.
Assay samples are taken from HQ/NQ size drill core cut in half with one half
sent to a commercial laboratory and other half retained for future reference. 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 Zacatecas (Mexico) and Vancouver (Canada). All drill core,
laboratory pulps and rejects are stored on site.
Golden Tag Resources
Golden Tag is focused on exploration for high-grade gold and silver deposits in
Canada and Mexico. Exploration projects are being advanced on the San Diego
silver project in Durango State, Mexico; the Aquilon gold project in James Bay,
Quebec and the Verneuil gold project in Quebec. Golden Tag also has interests in
the McCuaig gold project in Red Lake, Ontario. Golden Tag has 53,426,558 issued
and outstanding shares and has no outstanding debt.
Cautionary Statement: Mineral Resources that are not Mineral Reserves do not
have demonstrated economic viability. 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. For a discussion of the risk factors that are inherent in our
business see our public filings at www.sedar.com.
Phase 6 Program - San Diego Property, Velardena District, Durango State, Mexico
Table 1: Highlights of Diamond Drilling Results from Section 0+35E
----------------------------------------------------------------------------
Hole From To Length Au Ag Pb Zn Cu Ag.EQ Comment
Number (m) (m) (m) g/t g/t % % % g/t Ag
----------------------------------------------------------------------------
SD-12-47 652.65 654.35 1.70 0.18 502 7.21 0.66 0.24 747 Sulphide
Vein in
Diorite
675.65 677.75 2.10 0.06 54 0.95 0.20 0.11 99 Stringers
in Diorite
686.00 686.70 0.70 0.08 44 1.21 1.71 0.11 136 Sulphide-QZ
Vein in
Diorite
730.10 739.65 9.55 0.04 58 0.68 0.38 0.04 92 Stringers
in DIorite
757.80 762.90 5.10 0.08 58 0.98 0.43 0.13 112 Endoskarn
--------------------------------------------------------------------
778.55 1,011.27 232.72 0.04 53 0.48 1.34 0.17 119 East
Diorite
Contact -
EndoSkarn
Zone with
Sulphide
Veins and
Stringer
Stockwork
---------------------------------------------------------
Includes 779.80 782.20 2.40 0.03 122 1.67 2.22 0.22 248
839.03 843.25 4.22 0.06 124 1.36 2.25 0.40 261
and 856.95 1,011.27 154.32 0.04 57 0.49 1.60 0.20 132
Includes 872.48 880.90 8.42 0.11 93 1.02 1.66 0.30 199
--------------------------------------------------------------------
966.08 980.50 14.42 0.04 113 0.95 3.38 0.38 265 Replacement
in Hornfels
Limestone
1,004.35 1,011.27 6.92 0.01 67 0.90 3.22 0.24 198 Replacement
in Grey
Limestone
----------------------------------------------------------------------------
Azimuth: 180 degrees, Dip: -63 degrees; EOH: 1055.70 m
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SD-12-48 214.00 215.25 1.25 0.09 246 0.40 0.76 0.07 288 Stringers
in Marble
246.00 248.25 2.25 0.33 145 1.15 0.68 0.02 214 Stringers
in Diorite
259.00 261.00 2.00 0.09 246 1.02 0.97 0.06 310 Stringers
in Diorite
308.30 323.15 14.85 0.10 289 1.36 0.54 0.09 355 Fractured
Diorite
Includes 315.20 323.15 7.95 0.13 502 2.43 0.88 0.14 612
430.40 434.60 4.20 0.28 110 1.59 1.50 0.10 216 Sulphide
Vein in
Diorite
525.00 544.80 19.80 0.16 39 0.83 0.89 0.09 102 Stockwork
in Diorite
562.85 563.95 1.10 0.11 166 4.08 3.15 0.18 381 Sulphide
Vein in
Diorite
664.65 685.45 20.80 0.05 25 0.64 0.60 0.06 66 Stringers
in
Exo/Endoska
rn
--------------------------------------------------------------------
722.90 789.50 66.60 0.03 43 0.65 0.80 0.06 89 East
Diorite
Contact -
Endo- to
Exo-Skarn
with
Stringers
and local
Stockwork
---------------------------------------------------------
includes 722.90 728.55 5.65 0.03 120 2.04 2.52 0.13 255
includes 752.80 757.60 4.80 0.04 118 1.07 1.73 0.15 209
--------------------------------------------------------------------
814.00 833.45 19.45 0.05 33 0.46 0.62 0.05 69 Limestone,
Marble and
Skarn
----------------------------------------------------------------------------
Hole SD-12-48 is at 250 meters directly above SD-12-47main EndoSkarn Zone
Azimuth: 181 degrees, Dip: -56 degrees; EOH: 875.80 m
----------------------------------------------------------------------------
Note:
1/ Ag.EQ: Price Deck uses US$commodity prices based on three-year moving
average: $1300/oz.Au; $24.50/oz.Ag; $0.90/lb Zn; $0.95/lb Pb; $3.25/lb Cu.
2/ Cut off limits (& Minimum Mining Width): Selective Vein 93 g/t Ag (1.0
m); Long hole narrow 76 g/t Ag (2.50m); Bulk 60 g/t Ag (5.0m).
Table 2: Highlights of Drilling Results from hole drilled obliquely across
Section 0+35E
----------------------------------------------------------------------------
Hole From To Length Au Ag Pb Zn Cu Ag.EQ Comment
Number (m) (m) (m) g/t g/t % % % g/t Ag
----------------------------------------------------------------------------
SD-12-49 141.25 141.80 0.55 0.03 207 0.41 1.00 0.05 251 La Cruz
Vein
184.95 188.90 3.95 0.37 439 7.60 2.46 0.02 731 La Rata
Vein
--------------------------------------------------------------------
440.88 459.28 18.40 0.28 67 1.60 0.96 0.02 151 West
Diorite
Contact -
Sulphide
Veins and
Stringer
Stockwork
Incl 445.82 453.25 7.43 0.63 108 2.56 1.74 0.03 259
--------------------------------------------------------------------
755.25 996.10 240.85 0.07 63 0.77 1.59 0.20 148 East
Diorite
Contact -
EndoSkarn
Zone
Sulphide
Veins,
Breccias
and
Stringer
Stockwork
---------------------------------------------------------
Incl 755.25 804.50 49.25 0.13 65 0.95 1.65 0.19 158
and 758.30 783.30 25.00 0.18 80 1.39 2.14 0.20 202
Incl 837.05 996.10 159.05 0.05 68 0.77 1.74 0.22 158
with 867.20 873.40 6.20 0.06 98 1.23 1.96 0.20 204
with 879.40 894.70 15.30 0.15 95 1.56 1.75 0.12 203
with 941.20 986.80 45.60 0.03 83 0.81 2.72 0.38 213 Contact
Zone
----------------------------------------------------------------------------
1,018.55 1,035.35 16.80 0.15 118 1.12 9.18 0.41 434 Massive
Sulphide
Replacement
of Grey
Limestone
Incl. 1,023.80 1,033.60 9.80 0.20 150 1.3014.28 0.61 626
----------------------------------------------------------------------------
Hole SD-12-49 passes obliquely between holes -47 and -48Azimuth 158 degrees
, Dip -63 degrees; EOH: 1091.90 m
----------------------------------------------------------------------------
Table 3: Highlights of Results from extension drill holes on Section 1+75E
----------------------------------------------------------------------------
Hole From To Length Au Ag Pb Zn Cu Ag.EQ Comment
Number (m) (m) (m) g/t g/t % % % g/t Ag
----------------------------------------------------------------------------
San Jose
SD-08-34 1053.65 1055.60 1.95 0.06 467 9.23 9.100.312 987 Vein
1246.45 1272.05 25.60 0.01 9 0.09 0.710.094 39 Trovador
----------------------------------------------------------------------------
Azimuth 180 degrees, Dip -65 degrees; EOH: 1317.80 m
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SD-11-38 909.10 936.85 27.75 0.03 49 0.65 0.89 0.08 99 Trovador
--------------------------------------------------------------------
incl. 909.10 914.55 5.45 0.03 97 1.32 1.720.170 195
incl. 924.60 936.85 12.25 0.04 47 0.62 0.97 0.06 97
Trovador
962.25 966.70 2.70 0.37 184 3.13 3.19 0.12 384 Vein
----------------------------------------------------------------------------
Azimuth 182 degrees, Dip -50 degrees; EOH: 1034.80 m
----------------------------------------------------------------------------
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