Golden Tag Files Independent 43-101 Technical Report with Updated Mineral Resource Estimate for the San Diego Project, Durang...
2013年4月23日 - 10:52PM
Marketwired Canada
Golden Tag Resources Ltd. (TSX VENTURE:GOG) is pleased to report the recent
filing of the 43-101 Technical Report on the 2013 Revised Resource Estimate
completed by SGS Canada Inc. for the San Diego Deposit located in the Velardena
camp in Durango State, Mexico. The report is available through www.sedar.com and
at Golden Tag's Web site at www.goldentag.ca. The Resource Estimate was reported
in a press release on February 26, 2013 (errata - press release March 04 2013)
and reproduced below as Tables 1 and 2. The San Diego 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 to a
60% interest by funding additional exploration on the property.
The Resource Study was undertaken by SGS-Canada with Indicated and Inferred
Resources estimated and classified using current CIM Standards and a block
modeling interpolation with geo-statistical analysis. The study evaluated 23
mineralized zones recognized on the property and developed a three-dimensional
model of mineralization. The model, along with the results of 34 separate block
models, provides a significantly improved database to support further work and
study. Further details of the approach and methodology are available in press
release of Feb. 26th 2013 and in the Technical Report.
Table 1. Summary of Mineral Resources, San Diego Property, Durango State, Mexico
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INDICATED Tonnage
RESOURCES Cut-Off (g/t) (t) Au (g/t) Ag (g/t) Pb (%)
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TOTAL BULK
ZONES (3) 52 14,800,000 0.06 51 0.65
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TOTAL OXIDE
VEINS 133 311,000 0.43 211 1.15
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TOTAL SULPHIDE
VEINS 52-125 1,373,000 0.20 123 1.23
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TOTAL
INDICATED 16,484,000 0.08 60 0.71
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INDICATED Ag.EQ(2)
RESOURCES Zn (%) Cu (%) Ag.Eq(2)(g/t) Silver ounces ounces
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TOTAL BULK
ZONES (3) 1.17 0.12 94 24,070,000 44,510,000
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TOTAL OXIDE
VEINS 0.90 0.00 234 2,110,000 2,330,000
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TOTAL SULPHIDE
VEINS 1.85 0.10 197 5,430,000 8,680,000
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TOTAL
INDICATED 1.22 0.11 105 31,610,000 55,520,000
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INFERRED Tonnage
RESOURCES Cut-Off (g/t) (t) Au (g/t) Ag (g/t) Pb (%)
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TOTAL BULK
ZONES(3) 52 28,650,000 0.05 46 0.67
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TOTAL OXIDE
VEINS 133 288,000 0.43 238 0.81
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TOTAL SULPHIDE
VEINS 52-125 13,100,000 0.11 93 1.41
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TOTAL INFERRED 42,038,000 0.07 62 0.90
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INFERRED Ag.EQ(2)
RESOURCES Zn (%) Cu (%) Ag.Eq(2) (g/t) Silver ounces ounces
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TOTAL BULK
ZONES(3) 1.08 0.10 88 42,440,000 80,690,000
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TOTAL OXIDE
VEINS 0.91 0.10 261 2,200,000 2,410.000
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TOTAL SULPHIDE
VEINS 1.83 0.10 171 39,170,000 72,230,000
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TOTAL INFERRED 1.31 0.10 115 83,810,000 155,330,000
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(2) See Note 2 at bottom of Table 2.
The 23 mineralized zones at San Diego represent a variety of geological settings
and mineralization types, from narrow high-grade veins to bulk mining
opportunities of the Fernandez Zone. These zones are individually reported and
studied in the technical report. The variety of mineralized zones lends itself
to the use of four cut-off grades which ultimately reflect varied mining widths
and costs of potentially applicable mining methods. The grand total of Inferred
and Indicated resources in table 1 are clearly weighted (biased) by the Bulk
zones due to their higher tonnage and lower grade. Table 2 applies cut-off
grades of 52, 81, 102 and 125 g/t.Ag.Eq. and provides a breakdown of the
Resources into Bulk Zones (Fernandez Endoskarn and Fringe, Trovador); the
sulphide Vein Zones of Montanez (3 Zones); the generally narrow sulphide vein
zones (17 veins); and the oxide zones. A new Corporate presentation available at
Golden Tag's Web site (www.goldentag.ca) further explains the significance of
this Resource breakdown.
Table2. Summary of Mineral Resources in 23 Zones on the San Diego Property,
Durango State, Mexico
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SAN DIEGO RESOURCE CoG
ESTIMATE (g/t) Indicated Resources
-------------------------------------------------
Ag.EQ(2
Tonnes Au Ag Pb Zn ) Ag Oz
Fernandez Zone (Mt) g/t g/t % % g/t (M)
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Endoskarn 52(1) 9.3 0.06 55 0.59 1.33 100 16.5
--------------------------------------------------------
Fringe 52 5.5 0.06 43 0.74 0.89 83 7.6
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Sub-total 14.8 0.06 51 0.65 1.17 94 24.1
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SAN DIEGO RESOURCE
ESTIMATE Inferred Resources
--------------------------------------------------------
Tonnes Au Ag Pb ZnAg.EQ(2) Ag Oz
Fernandez Zone (Mt) g/t g/t % % g/t (M)
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Endoskarn 9.6 0.04 57 0.6 1.3 101 17.4
--------------------------------------------------------
Fringe 19.1 0.05 41 0.7 0.97 81 25.1
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Sub-total 28.7 0.05 46 0.7 1.08 88 42.4
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Vein & Mantos Zones Indicated Resources
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Trovador 52 0.29 0.09 87 0.72 4.15 194 0.81
--------------------------------------------------------
Montanez (3) 125 0.56 0.31 101 1.36 1.43 170 1.82
--------------------------------------------------------
Vein Zones (17) 52 -125 0.53 0.14 166 1.38 1.03 227 2.80
--------------------------------------------------------
Oxide Zones 133 0.31 0.43 211 1.15 0.9 234 2.11
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Sub-total 1.69 0.24 139 1.22 1.68 204 7.54
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TOTAL Oxide & Sulphide
Zones 16.5 0.08 60 0.71 1.22 105 31.6
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Vein & Mantos Zones Inferred Resources
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Trovador 4.41 0.04 68 0.9 1.55 124 9.6
--------------------------------------------------------
Montanez (3) 1.57 0.18 91 1.5 1.9 174 4.6
--------------------------------------------------------
Vein Zones (17) 7.12 0.14 109 1.7 1.99 200 25.0
--------------------------------------------------------
Oxide Zones 0.29 0.43 238 0.8 0.91 261 2.2
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Sub-total 13.39 0.12 96 1.40 1.81 173 41.4
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TOTAL Oxide &
Sulphide Zones 42.0 0.07 62 0.9 1.31 115 83.8
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Note: Corrected tables 1 & 2 reproduced here from press release on March 4th
2013. (1) Block Caving/Mechanized Bulk Mining Cut-Off Grade (CoG) of 52 g/t
Ag.EQ = NSR $30/t. See NR Feb 26th 2013 or Technical Report for details. (2)(i)
Ag.EQ: Silver Equivalent ounces based on 3-yr trailing average commodity prices
of US$1455/oz.Au; US$28.10/oz.Ag;US$1.00/lb Pb and US$0.96/lb Zn applying
estimated Mill and Smelter recoveries. (3) Bulk Zones includes the Fernandez
Zone (Fringe & Endoskarn) and Trovador; (4) Totals may not add up correctly due
to rounding.
Additional Mineral Potential:
SGS-Canada recognizes in addition to the above-mentioned Inferred and Indicated
Resources that there are areas within recognized structures and depth extensions
which will require additional drilling and can offer additional Mineral
Potential of between:
20 to 50 million tonnes grading 100 to 150 g/t AgEQ
The Additional Mineral Potential includes those tonnes contained within the 23
outlined mineralized envelopes that fall under either one of those 2 categories:
-- Unclassified tonnes above applicable cut-offs;
-- Classified resources that are below cut-offs;
-- As well as the down-depth and strike-length extensions to the
mineralized structures.
Cautionary Statement:
Mineral Resources that are not Mineral Reserves do not have demonstrated
economic viability. The potential quantity and grade reported as Mineral
Potential, is conceptual in nature, that there has been insufficient exploration
to define a mineral resource and that it is uncertain if further exploration
will result in the target being delineated as a mineral resource.
Conclusion of the 43-101 Independent Technical Report
SGS concludes: "The San Diego project and surrounding properties have a rich
mining heritage with a history of producing world class mines. The location of
the property within this camp means that it has access to major infrastructure
and a qualified workforce. Recent drilling and 3D modeling has shown that the
polymetallic deposits located on the property have a predictable geometry and
potential for significant tonnage additions. The resources comprise 23 separate
silver-rich zones, each of which contains additional exploration opportunities.
This family of structures provides flexibility in the future mine-planning in
terms of methods and sequencing. The potential for the future development of a
long term underground mining operation at San Diego is considered very good, and
it could represent a new "Center of Mineralization" within the Velardena mining
camp."
SGS further stated: "San Diego is host to a variety of Silver-rich and Pb-Zn
bearing zones variably associated with a Diorite Intrusion which lies in the
center of the property. The property was previously known for narrow, high-grade
Ag-Pb-Zn Veins from surface to 400-500m depth. New drilling has shown that below
500m, veins often widen and occur with massive sulphides replacing carbonate,
and/or in zones of skarn and stockwork systems. Highlights from the 2011 and
2012 drill campaigns include:
-- Fernandez Zone: a very large skarn deposit with high tonnage and
amenable to bulk mining methods. This zone remains open to West and
down-plunge;
-- Discovery of the West Contact Zone that could represent the shallow up-
dip edge of a second Fernandez-style zone;
-- Significant potential to expand resources in down-dip and up-dip
extensions to the historically important Trovador Vein;
-- Ten new vein and mantos zones: including Lorenzo, EWFZ, Rata-Sub, MS,
Panda and the South Skarn zones;
-- ... Excellent potential in all 23 zones for further growth in resources.
This potential exists within the modeled geological solids and as
lateral and depth extensions."
Qualified persons - Resource:
David Rigg, P.Geo and CEO of Golden Tag, Qualified Person (QP) in accordance
with NI 43-101 has prepared this press release.
Cautionary Statement: 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 the Mining Industry see our
public filings at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Golden Tag Resources
Marc A. Carrier, President and C.F.O.
(514) 426-8542
(514) 426-8543 (FAX)
pres@goldentag.ca
www.goldentag.ca
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