Golden Tag Expands Fernandez Zone 40 Metres Up-Dip, 20 Metres to the South, and Identifies Broad Zones of Silver Mineralization Close to Surface
Toronto, Ontario, April 14, 2021: Golden Tag Resources Ltd. (“Golden Tag” or the "Company") (TSX.V: GOG) (OTCQB: GTAGF) is pleased to provide a project update, inclusive of the first three diamond drill holes from the ongoing 4,500 metre (m) exploration program, on the Company’s 100% owned San Diego Project, one of the largest undeveloped silver projects in Mexico.
Key highlights include:
The current drill campaign has successfully expanded the Fernandez Zone up-dip vertically 40 m toward surface and 20 m to the south. Hole 21-53 intersected 50.17 m grading 104.64 g/t Ag.Eq (from 434.66 m to 484.83 m). The Fernandez Zone remains open above hole 21-53.
Hole 20-51 encountered 127.3 m of skarn / Fernandez style mineralization within two zones located close to surface, intersecting 35.46 m grading 52.50 g/t Ag.Eq (from 93.20 m to 128.66 m downhole), and 91.84 m grading 49.48 g/t Ag.Eq downhole (from 202.66 m to 294.50 m). These zones are located 365 m above the top of the current Fernandez Zone resource envelope.
Historical hole 07-24 intersected 50.15 m grading 49.56 g/t Ag.Eq (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 m to the east of 20-51, drilled 65 m 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 m higher, and 20 m 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 setup. Secondly, the discovery of near surface broad silver mineralization points to the potential for much shallower open pit style mineralization that could be a 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.”
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