Golden Tag Initiates Geologic Interpretation Program, in Partnership with Orix Geoscience, on San Diego Project
April 30 2021 - 11:19AM
Golden Tag Resources Ltd. (“
Golden Tag” or the
"
Company") (TSX.V: GOG) (OTCQB: GTAGF) has
initiated a Geologic Interpretation Program, in partnership with
Orix Geoscience 2018 Inc. (“
Orix”), designed to
enhance the geological understanding of the Company’s 100% owned
San Diego Project, one of the largest undeveloped silver projects
in Mexico.
While initial drill results from the first three
drill holes of the 2020-21 exploration campaign have confirmed our
previous understanding of the deposit, they have also identified
the potential for near surface open pit style skarn
mineralization.
The Geological Interpretation Program will
encompass a comprehensive review by Orix, overseen by Golden Tag’s
QP, Bruce Robins, of the lithology, alteration, structure, and
assay datasets to understand the controls at the San Diego Project.
Furthermore, this new understanding will be integrated into a
Leapfrog model. 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.
Greg McKenzie, President and CEO commented: "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.”
The Geologic Interpretation Program has
commenced and will continue until approximately Q3-2021.
Review by Qualified Person and
QA/QC
The scientific and technical information in this
document has been reviewed and approved by Bruce Robbins, P.Geo., a
Qualified Person as defined by National Instrument 43-101.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Toronto based
mineral resource exploration company. The Company holds a 100%
interest, subject to a 2% NSR, in the San Diego Project, in
Durango, Mexico. 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. For
more information regarding the San Diego property please visit our
website at www.goldentag.ca. For additional
information, please contact:
Greg McKenzie, President & CEOPh:
416-504-2020Email: info@goldentag.cawww.goldentag.ca
About Orix Geoscience 2018
Inc.
Orix Geoscience 2018 Inc. (“Orix”) is a leading
geological firm that partners with exploration and mining companies
to advance strategic exploration and mining projects through the
integration of data and increased geological understanding. Orix
provides access to a strong technical team that supplements their
client's internal workforce. Orix has offices in Toronto, Sudbury,
and Winnipeg with a multi-faceted team of Geology and Geomatic
Professionals that provides support for both Canadian and
international projects specializing in data collection and
analysis, GIS compiling, interpreting, modelling large datasets,
target generation, and drill and mapping field programs. Their
approach to consulting focuses on people, quality work, and strong
industry partnerships.
Cautionary Statement:
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release. Certain statements in this news release are
forward-looking and involve a number of risks and uncertainties.
Such forward-looking statements are within the meaning of the
phrase ‘forward-looking information’ in the Canadian Securities
Administrators’ National Instrument 51-102 – Continuous Disclosure
Obligations. Forward-looking statements are not comprised of
historical facts. Forward-looking statements include estimates and
statements that describe the Company’s future plans, objectives or
goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this
news release includes, but is not limited to, statements regarding
the effects of the Company’s exploration program, assay results
from the ongoing drill program, the expansion of the known
mineralized zones, ability to define open pit style resources,
further improvements in mineralization, continuity or grades.
Factors that could cause actual results to differ materially from
such forward-looking information include, but are not limited to:
the ability to predict and counteract the effects of COVID-19 on
the business of the Company, including but not limited to the
effects of COVID-19 on the price of commodities, capital market
conditions, restriction on labour and international travel and
supply chains; failure to identify mineral resources; failure to
convert estimated mineral resources to reserves; the inability to
complete a feasibility study which recommends a production
decision; the preliminary nature of metallurgical test results;
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals; political risks; changes
in equity markets; uncertainties relating to the availability and
costs of financing needed in the future; the inability of the
Company to budget and manage its liquidity in light of the failure
to obtain additional financing; inflation; changes in exchange
rates; fluctuations in commodity prices; delays in the development
of projects; capital, operating and reclamation costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry; and those risks set
out in the Company’s public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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