Golden Tag: New Discovery Adds Bulk Mining Potential to Emerging Major Silver-Lead-Zinc Property at San Diego, Durango State,...
2012年12月13日 - 11:53PM
Marketwired Canada
Golden Tag Resources Ltd. (TSX VENTURE:GOG) is pleased to provide an overview of
the 2012, Phase 6 drill program. Highlights include:
-- 5,500-meters completed in Phase 6, bringing total drilling since 2006 to
31,000 meters
-- Five new drill holes previously reported in 2012. All holes, for a 100%
hit ratio, have intersected significant widths of Silver-Lead-Zinc
mineralization.
-- Summary results, expressed simply as a single broad intersection for
each hole, show consistent grades over considerable core lengths, Table
1. Relative drill hole locations are shown in Figure 1.
-- New style of mineralization discovered: a broad zone of stockwork
veining and alteration within Diorite and adjacent limestones at the
southeast corner of the large Diorite Intrusion which lies in the centre
of the San Diego property.
-- Currently estimated to have a strike length of 200 meters (open), a
width of 130 meters (open) and a vertical height of 300 meters (open to
depth), named the "Fernandez Zone".
-- Potential for the deposit to be bulk mining amenable.
Table 1. Summary of Discovery Holes from Phase 6 Diamond Drilling Program in
the Fernandez Zone, San Diego Property, Durango State, Mexico
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Core
Hole From To Length Au Ag Pb Zn Cu AgEQ.(i)
(m) (m) (m) g/t g/t % % % g/t
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SD-12-47 778.55 1011.27 232.72 0.04 53 0.48 1.34 0.166 119
incl. 856.95 1011.27 154.32 0.04 57 0.49 1.60 0.195 132
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SD-12-48 722.90 789.50 66.60 0.03 43 0.65 0.80 0.062 89
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Hole -48 is 300 metres above hole -47 and near the upper limit of the Zone
----------------------------------------------------------------------------
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SD-12-49 755.25 996.10 240.85 0.07 63 0.77 1.59 0.198 148
incl. 837.05 996.10 159.05 0.05 68 0.77 1.74 0.224 158
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SD-12-50A 686.50 1049.10 362.60 0.10 59 0.68 1.43 0.16 135
incl. 743.55 991.00 247.45 0.13 66 0.75 1.70 0.166 154
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SD-12-50W 761.30 971.45 210.15 0.04 50 0.53 1.18 0.15 112
incl. 818.75 971.45 152.70 0.03 55 0.55 1.37 0.16 122
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-- Note:1/(i)Ag Equivalent (Ag.EQ) Calculation uses US$ commodity prices
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. Since additional drilling is
required to establish the final geometry of the zone, all intersections
are reported as core length intersections. T = short ton; t = metric
tonne. 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).
3/ Internal Waste: Grade is sample length weighted average and includes
all internal waste.
Additional details with selected higher grade intervals are available from
Golden Tag's website at www.goldentag.ca and are included in News Releases of
Sept. 24; Oct. 15; and Nov. 26.
Exploration of the San Diego has proven that the property is host to a very wide
variety of Silver-, Lead-, and Zinc-rich mineralization, including:
-- More than twelve relatively thin, high-grade veins at or near surface.
Veins demonstrate good continuity over long strike- and dip-extensions.
Higher grades areas are associated with Sulphosalts and often near the
contacts with Diorite.
-- At depth, the principal veins commonly transition into wide deformation
zone where mineralization becomes more varied and complex, consisting
of:
-- Multiple principal veins associated with alteration and where
limestone often recrystalizes into marble;
-- Massive Sulphide replacement zones in carbonate wall rocks; and,
-- Mineralized stockwork/sheeted stringer zones
The new Fernandez zone represents a very important addition to the recorded
styles of mineralization on the property. It is the first discovery of
widespread mineralization in association with stockwork stringers and strong
alteration in Diorite (technically termed "Endoskarn"). Mineralization within
this zone also includes intense massive sulphide replacement along the contact
of the intrusion in the adjacent Hornfels limestone (contact metamorphism and
alteration, "Exoskarn") and in limestone. The Fernandez Zone clearly provides
new potential for the application of high tonnage-low cost Bulk Mining methods
and remains open for further extension.
An important outcome from the Phase 6 program is also the discovery of
mineralization in stringer and skarn zones at shallow elevations on the western
contact of the Central Diorite Intrusion. Historical exploration on the western
side of the property has been quite limited and generally only to test for
shallow veins. One drill hole from Phase 4 in 2007, SD-07-18, intersected
stringer/Endoskarn mineralization in the western contact returning:
-- 15.83 m grading 164 g/t Ag.EQ with 78 g/t Ag, 1.68% Pb and 1.82% Zn from
846.6 m.
Hole SD-12-49 from this phase of drilling returned the following intersection at
the western contact:
-- 18.40 m grading 151 g/t Ag.EQ with 67 g /t Ag,1.60% Pb, 0.96% Zn, from
440.88m, including:
-- 7.43m grading 259 g/t Ag.EQ with 108 g /t Ag, 2.56% Pb, 1.74% Zn
from 445.8 m.
Although narrower than the new intersections in the Fernandez Zone, these are
the first significant results on the western contact. This style of
mineralization occurs at the Fernandez zone at similar vertical depths of 400 to
500 meters, well above the new zone. The western contact appears to be at the
correct location where mineralized structures converge with the northwest corner
of the Diorite Intrusion forming an environment which is a mirror-image to that
of the Fernandez Zone. The potential at this location, 150 m to 250 m to the
northwest of centre of the new Fernandez zone is considered to be significant.
A NI 43-101compliant Resource Estimate is currently in progress to update the
Resource Estimate from 2009 and to add results from Phase 5 and Phase 6.
The property is a 50/50 joint venture between Golden Tag and Golden Minerals
Company (NYSE Amex:AUMN)(TSX:AUM). In March 2012, Golden Tag signed a revised
option agreement with AUM whereby it can earn up an additional 10% interest in
the property by incurring $3 million of exploration expenses (see News Release:
March 28, 2012). Golden Tag has funded the Phase 6 program on the San Diego
Property as part of this work commitment.
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.
Figure 1 is available at the following address:
http://media3.marketwire.com/docs/GoldenTag_figure1_1213.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Marc A. Carrier
President and C.F.O.
(514) 426-8542
(514) 426-8543 (FAX)
pres@goldentag.ca
www.goldentag.ca
Golden Tag Resources (TSXV:GOG)
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