Golden Tag Drills 100-Metre Step-Out Hole Intersecting 63 g/t Silver Over 241 Metres With 0.7% Lead and 1.5% Zinc (143 g/t Ag...
October 15 2012 - 9:25AM
Marketwired
Golden Tag Resources Ltd. (TSX VENTURE:GOG) is pleased to provide
additional results from its 5,500 meters drill program on the San
Diego Property, Durango State, Mexico. Hole SD-12-50A, the fourth
hole of the current phase 6 program confirms continuous
mineralization over very significant widths in association with
mineralized diorite ("endoskarn"). Further drilling will be needed
to establish the exact geometry of this new zone. Additional
positive results from other holes of the program were presented in
the Company's news release of September 24, 2012.
Highlights from hole SD-12-50A are:
From (m) Width Ag.EQ
To (m) (m) Au (g/t) Ag (g/t) Pb (%) Zn (%) Cu (%) (g/t)
----------------------------------------------------------------------------
702.5 943.9 241.4 0.12 63 0.75 1.54 0.14 143
includes
----------
743.6 801.0 57.5 0.23 97 1.04 1.81 0.17 200
907.9 937.2 29.4 0.15 97 1.20 3.36 0.25 248
918.1 937.2 19.2 0.22 120 1.59 4.44 0.28 316
(i)Ag Equivalent (Ag.EQ) Calculation uses US$ commodity prices
based on a three year moving average 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. All reported lengths are core lengths. t=metric tons;
T=short ton.
Hole 50A is a 100 metre step-out from hole SD-12-49 and was
aimed at testing for the north-eastern extension of the
polymetallic stringer-stockwork mineralization in endoskarn
intersected in hole 49, which returned 240.9 m grading 148 g/t
Ag.EQ with 63 g/t Ag, 0.77 Pb, 1.59% Zn and 0.20% Cu (790 feet
grading 4.3 oz/T Ag.EQ) from 755 to 996 metres.
Assay results to date for hole 12-50A have been received only to
a depth of 944m. Additional assay results for the mineralized
interval from 944 m to 1,049 m are expected later this month
together with assay results from Hole 50W, a wedge cut from Hole
50A, which crosses the new discovery midway between holes 49 and
50A.
The results of hole 50A provide additional support for a
potential Bulk Mining model for the deposit at San Diego.
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).
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 Global 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.
To view the accompanying diagram please click to the following
link:
http://media3.marketwire.com/docs/NR-2012-Diagram-GOG-Phase-6-Drill-Program.pdf
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Golden Tag Resources Ltd. Marc A. Carrier President
and C.F.O (514) 426-8542 (514) 426-8543 (FAX)pres@goldentag.ca
www.goldentag.ca