Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1)
("
Bocana" or the "
Company") is
pleased to announce the completion of seven diamond drill holes on
the Escala area concession in south-west Bolivia. The Company's
inaugural drilling was completed on October 24, 2023 and tested
both the Cerro Galapagos and Cerro Blancos areas as well the Laura
Zone. The Cerro Galapagos target area hosts a large, multi-phased,
felsic intrusive complex with extensive alteration and up to 4
phases of sulphide mineralization observed. Assay results are
pending for all holes.
Figure # 1 is a surface plan view of the three
areas drill tested with drill hole surface projections. Table # 1
lists all the details on the drill holes completed on the
program.
Figure # 1 Drill Plan Map
Cerro Galapagos
Cerro Galapagos contains a large approximately,
2.0 X 2.0-kilometre, circular, induced polarization ("IP")
chargeability high and moderate to high resistivity anomalies.
Four diamond drill holes (HRC 2301-2304) were
completed for a total of 1,314.7 metres testing different areas
within the Cerro Galapagos area. Cerro Galapagos is a large, felsic
porphyry complex containing multiple phases and extensive argillic
and phyllic alteration zones.
HRC 2301 tested the south-east
corner of the large IP high at the inferred
intrusive/volcanoclastic contain. Extensive pyrite and
arsenopyrite-pyrite mineralization was encountered in both rock
types indicating at least two phases of mineralization.
HRC 2302 tested the south-west
area of the IP, chargeability anomaly within the intrusive body.
The hole was entirely within the intrusive complex containing
different phases of intrusive activity with the intrusion breccias
hosting much of the pyrite and arsenopyrite-pyrite phases of
mineralization.
HRC 2303 is located
approximately 200 metres north of the central core of the IP
chargeability anomaly. The was extended by 150 metres due to extent
and increasing sulphides concentrations with depth. Several
intrusive phases were encountered, most of which were mineralized
again by pyrite and arsenopyrite-pyrite phases.
HRC2304 was added to the
program after the visual sulphides concentration in HRC2303 and is
located 100 metres from the HRC 2303 collar location. The hole
contains several intrusive phases including intrusive and intrusion
breccia and a significant increase in hydrothermal breccias. H2304
hosted at least 4 phases of mineralization with base metal
mineralization occurring in the apparently youngest, hydrothermal
breccias. Again, most of the rock types encountered were
mineralized with pyrite and arsenopyrite mineralization as
disseminations and fracture fillings.
Cerro Blanco
HRC-2305/06 were completed for
a total of 331.2 metres testing IP, chargeability, and resistivity
highs. Both holes encountered approximately 5-10 metres of
sediments before encountering a single phase of a quartz eye
porphyry. Minor pyrite and chalcopyrite mineralization occurs at
the sediment/intrusive contact in both holes and approximately 30
metres of crackle fractured intrusive in hole HRC 2306 healed by
finer grained pyrite with traces of chalcopyrite.
Table # 1
Escala 2023 Drilling |
DDH |
UTM |
E |
N |
Elev. (m) |
Azimuth |
Dip |
EOH (m) |
HRC2301 |
19S |
718836 |
7611436 |
4031 |
160 |
-45 |
295.5 |
HRC2302 |
19S |
718626 |
7611762 |
4026 |
150 |
-45 |
253.7 |
HRC2303 |
19S |
718901 |
7612378 |
4044 |
315 |
-65 |
452.1 |
HRC2304 |
19S |
718830 |
7612305 |
4039 |
315 |
-65 |
313.4 |
HRC2305 |
19S |
719624 |
7610666 |
3983 |
240 |
-55 |
206.2 |
HRC2306 |
19S |
719435 |
7610373 |
3975 |
240 |
-55 |
125.0 |
HRC2307 |
19S |
721052 |
7610975 |
4018 |
215 |
-50 |
355.9 |
Laura Zone
HRC 2307 tested an area of
known mineralization from historic mining areas and ended at 355.9
metres. The hole encountered a single-phase intrusive body with
several narrow fractures healed by mainly pyrite. In the area of
the Laura vein, base metal mineralization was also encountered in
facture zones less than a metre in thickness.
Core Sampling Protocols
All drill core samples will be collected under
the supervision of Company employees. Drill cores are transported
from the drill platform to the camp’s logging facility where it
will be geotechnically and geologically logged, photographed, and
split by diamond saw prior to being sampled. Samples will then bag,
sealed, and numbered in order to maintain a chain-of-custody.
Company employees also inserted blank, duplicate and a certified
standard sample in each batch of twenty samples prior to
transportation from the Escala area camp to the ALS Bolivia Ltda.
laboratory site in Oruro, Bolivia. ALS will provide Bocana with
sample preparation and analysis services at its ISO/IEC 17025
accredited facilities. The ALS unit in Oruro is ISO 9001:2008 and
ISO 17025:2005 accredited and ALS is the only laboratory in South
America that has a high number of analytical methods accredited by
ISO IEC 17025 and has the sample preparation stage included in this
accreditation.
Qualified Person
Mr. Lorne Warner, P.Geo., is a "Qualified
Person" as defined by National Instrument 43-101. Mr. Warner has
approved the scientific and technical information included in this
news release for dissemination.
About Bocana Resources
Corp.
Bocana is a mineral exploration company focused
on the acquisition, exploration, and development of mineral
properties in South America. Bocana, through its wholly owned
subsidiary, Huiracocha International Service SRL, holds a 100%
working interest in the mineral properties known as the Escala area
concessions located at the Department of Potosi, Sud Lipez
Province, Bolivia as awarded by Comibol.
Contact Information
For more information on Bocana, visit:
https://bocanaresources.com.
For more information or interview
requests, please contact:
Timothy J. Turner – Chief Executive
Officerinfo@bocanaresources.com
Forward-Looking Information
This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information can be identified by words such as:
"intend", "believe", "estimate", "expect", "may", "will",
“approximately”, “planning”, “projected”, “anticipate” and similar
references to future periods. Although Bocana believes that, in
light of the experience of its officers and directors, current
conditions and expected future developments and other factors that
have been considered appropriate, the expectations reflected in
this forward-looking information are reasonable, undue reliance
should not be placed on them because Bocana can give no assurance
that they will prove to be correct. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Bocana, as the case may be, to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; the
actual results of current exploration activities including Phase 1;
risks associated with operation in foreign jurisdictions; ability
to successfully integrate purchased properties or mining rights
awarded; foreign operations risks; and other risks inherent in the
mining industry. Although Bocana has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Readers are cautioned not to
place undue reliance on forward-looking information. Additional
risks include those disclosed in the Information Circular, which
are incorporate herein by reference and are available through SEDAR
at www.sedar.com. The forward-looking statements contained in this
news release are made as of the date hereof, and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements or information, except as required by
law.
Neither the 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 news release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9ca068c3-7cb5-4a10-b764-58a3069a24ca
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