Golden Tag Resources Ltd. [GOG-TSXV] provided a project update, inclusive of the first three diamond drill holes from the continuing 4,500-metre exploration program, on the company’s 100%-owned silver-zinc San Diego Project in Durango State, one of the largest undeveloped silver projects in Mexico.
The current drill campaign has successfully expanded the Fernandez zone up-dip vertically 40 metres toward the surface and 20 m to the south. Hole 21-53 intersected 50.17 metres grading 104.64 g/t silver equivalent (from 434.66 m to 484.83 m). The Fernandez zone remains open above hole 21-53.
Hole 20-51 encountered 127.3 metres of skarn/Fernandez-style mineralization within two zones located close to surface, intersecting 35.46 metres grading 52.50 g/t AgEq (from 93.20 m to 128.66 m downhole), and 91.84 metres of 49.48 g/t AgEq downhole (from 202.66 m to 294.50 m). These zones are located 365 metres above the top of the current Fernandez zone resource envelope.
Historical hole 07-24 intersected 50.15 metres grading 49.56 g/t AgEq (from 19.80 m to 69.95 m) has been interpreted to be the extension of the Fernandez skarn mineralization encountered in hole 20-51 (collared 5 metres east of 20-51, drilled 65 metres up-dip to the north).
These broad zones of near-surface silver mineralization have been further tested through holes 21-57 and 21-58, with the objective of potentially developing a new zone above the top of the current Fernandez zone resource.
Greg McKenzie, president and CEO, commented: “The first phase of our exploration program has been successful in two meaningful ways. First, expanding the Fernandez Zone mineralized envelope 40 metres higher and 20 metres to the south will likely have a positive impact on future resource calculations. The top of the Fernandez Zone remains open, and with the encouraging results from hole 20-51, we followed up with hole 21-58, which was drilled from a different set-up. Secondly, the discovery of near-surface broad silver mineralization points to the potential for much shallower open-pit-style mineralization that could be significant catalyst for the San Diego Project. Combined, these results exceeded our expectations and have reinvigorated our excitement in this already substantial silver resource. We look forward to reporting the assays from the remaining five holes in this drill program and fine-tuning our future exploration plans.”