Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1)
("
Bocana" or the "
Company") a
company focused on the acquisition, exploration, and development of
mineral properties in South America. The company is pleased to add
additional details on the selected core samples that were recently
delivered for assay analysis. These core samples were collected
from our successfully completed diamond drilling campaign at the
Company’s Escala Project in Southwest Bolivia.
Of the six cores that were sampled, a total of
1236.35 meters, or 75.12%, were submitted to ALS Bolivia Ltda for
assay analysis. This milestone is important for Bocana as it
signifies the progress made in the exploration and development of
the Company’s inaugural mineral property in South America. The
delivery of the core samples for assay analysis is a crucial step
in assessing the potential value and viability of the near surface
porphyry deposit at the Escala area concession.
"The recent delivery of our core samples,
especially the first four cores, for assay analysis is an exciting
development for Bocana. While we know there is a lot of material to
assay, we are eager to receive the results and gain further
insights into the mineral potential for the Cerro Galapagos area of
our Escala concession. This progress brings us one step closer to
achieving our mission of responsible mineral exploration and
development in South America," Timothy Turner, CEO of Bocana.
Subject to the workload at the lab, the Company
anticipates the results to be delivered on the first two cores
soon. The subsequent assay reports should follow shortly
thereafter. Looking ahead, Bocana plans to continue its exploration
and development efforts in South America. The Company remains
committed to utilizing advanced technologies and environmentally
conscious practices to maximize the value of its mineral properties
while minimizing its ecological footprint.
Cerro Galapagos Area
Holes HRC2301-HRC2304 were completed for a total
of 1314.70 metres on the Cerro Galapagos, testing a large, induced
polarization, chargeability anomaly. The anomaly was found to
represent a multi-phased, felsic intrusive complex with pervasive
phyllic and argillic hydrothermal alteration. Multi-staged sulphide
mineralization occurred in several events resulting in the earlier
precipitation of pyrite, arsenopyrite, followed by chalcopyrite,
sphalerite and galena and additional pyrite and arsenopyrite. In
general, the sulphide concentrations appeared to increase with
depth with all holes still in mineralization at completion.
HRC2301 ended at 295.5 meters with 202.60
meters, or 68.5% of it, submitted for analysis. The hole extended
beyond the intrusive complex into volcanic tuffs that were also
well mineralized. Extensive pyrite and arsenopyrite-pyrite
mineralization was encountered in both rock types indicating at
least two phases of mineralization observed.
HRC2302 was drilled to a depth of 253.7 meters
with 239.7 meters, or 94.5% of it, was submitted for analysis.
The hole tested the south-west section of the
induced polarization, chargeability anomaly and was entirely within
the intrusive complex. The complex contains different phases of
intrusive activity with the intrusion breccias hosting much of the
pyrite and arsenopyrite-pyrite phases of mineralization.
HRC2303 tested to a total depth of 452.1 meters
with 430.1 meters, or 95% of it, was submitted for analysis.
The hole was extended an additional 152 metres
due to increasing mineral concentrations with depth. The hole
tested the north-west of the central core of the chargeability
anomaly. Several intrusive phases were encountered, most of which
were mineralized again by pyrite and arsenopyrite-pyrite phases as
well as chalcopyrite, galena and sphalerite.
HRC2304 was drilled to a depth of 313.4 meters
with 312.75 meters, or 99.8% of it, was submitted for
analysis.
The hole intercepted several intrusive phases
and intrusion breccia, as well as 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. Similar to HRC2303,
most of the rock types encountered were mineralized with pyrite and
arsenopyrite mineralization as disseminations and fracture
fillings.
Drill Hole Location Map
Table of Drill Collar Locations, Orientations and Surface
Trace
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 |
Cerro Blanco Area
HRC2305 was drilled a depth of 206.2 meters and
submitted 22.65 meters for analysis.
HRC2306 was drilled to a depth of 125 meters and
submitted 28.55 meters for analysis.
Both HRC2305 and 2306 cores 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.
Laura Zone
HRC2307 was drilled a total depth of 355.9
meters and the Company will submit selected samples for analysis at
a later time.
Core Sampling Protocols
All drill core samples have been collected under
the supervision of Company employees. Drill cores were transported
from the drill platform to the camp’s logging facility where it was
geotechnically and geologically logged, photographed, and split by
diamond saw prior to being sampled. Samples were 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. 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 this risks described in
Bocana's Information Circular which are incorporate herein by
reference and are available through SEDAR+ at www.sedarplus.ca.
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. 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/08b3b7b5-75b4-4fa5-96e7-a3065da4a857
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