Golden Tag Resources Ltd. (TSX-V:GOG, OTCQB:GTAGF) revealed that it made two new discoveries by drilling silver-zinc-lead-gold mineralization, starting right from surface and well above the planned drill-hole target area in its flagship San Diego project, in Durango Mexico.
The Toronto based mineral resource exploration company said that starting at around 30 meters (m) below surface, well before the target area, Hole 21-57 intersected 75.89 grams per tonne (g/t) silver equivalent (Ag.Eq) over 273.65m, highlighting the opportunity for potential open pit mineralization directly above the Fernandez Zone.
Golden Tag added that Hole 21-57 intersected the 1849 Target area, located between historic hole 12-49 (184.34 g/t Ag.Eq over 42.03m) and hole 07-18 (89.77 g/t Ag.Eq over 101.11 ), returning 116.76 g/t Ag.Eq over 66.04m, within a broader interval of 91.86 g/t Ag.Eq over 134.37m.
READ: Golden Tag identifies second bulk tonnage zone over 550 vertical metre extent at its San Diego silver project in Mexico
“The 1849 Zone represents a new broad zone of mineralization with bulk tonnage potential with a vertical extent of 500m and is open along strike and dip,” noted the company.
In a statement, Golden Tag CEO Greg McKenzie said: "We are quite pleased to have made two new discoveries with drillhole 21-57. Drilling 274m of silver-zinc-lead-gold mineralization, commencing right from surface and well above the planned drill-hole target area demonstrates the potential of the San Diego Project.”
“This new discovery sits directly over top of the northwestern (NW) contact of the Fernandez Zone and contains a broad interval of silver mineralization that will be tested for continuity and the potential for additional open pit style of mineralization. The second discovery was made within the 1849 Target area, which now becomes the 1849 Zone, located only 120m NW of the Fernandez Zone,” he added.
Golden Tag said that further drilling is planned to test the near-surface epithermal mineralization and open pit potential of this area as well as the strike and dip extension of the 1849 Zone.
The company holds a 100% interest, subject to a 2% net smelter royalty, in the 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 which hosts mines that have produced silver, zinc, lead and gold for over a century.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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