Tarachi Gold begins fieldwork at Tarachi
2020-06-25 10:47 ET - News Release
Mr. Lorne Warner reports
TARACHI GOLD CORP ANNOUNCES START OF FIELD PROGRAM.
Tarachi Gold Corp. has begun fieldwork at the company's group of mining concessions known as the Tarachi project, located in the Sierra Madre gold belt of eastern Sonora, Mexico. The Company's projects all lie within an established gold producing region, bordering Alamos' Mulatos mine and Agnico Eagle's La India mine. Tarachi's land package is contained within the prolific Sierra Madre Gold Belt.
Tarachi's geological crews have begun an approximate two-week field program of detailed geological mapping and rock sampling of known mineral occurrences to verify historical work programs. The historical work reviewed by a qualified person includes data containing surface rock sampling, drill logs and assay certificates but has not been personally inspected or sampled due to travel restrictions from Covid-19. Historical work including drilling has encountered gold grades over lengths such as:
- 34.5 g/t Au over 5.0 metres;
- 24.3 g/t Au over 3.0 metres;
- 110.0 g/t Au over 1.32 metres.
Tarachi will also undertake both social and environmental studies during the fieldwork program in order to apply for drilling permits. The Company is planning to immediately commence an HQ diamond drilling program this summer once all permits are in place. Details of the proposed diamond drilling program will be released soon after the completion of this program.
The Projects consist of the San Javier, Pretoria, Chivitas, Jabali, Juliana, Texana and Tarachi concessions for a total of 2,560 hectares in the prolific Mulatos gold belt. The Projects are approximately 220 km by air east of the City of Hermosillo, and 300 km south of the border between the United States of America and Mexico. The Jabali claim covers the La Dura historic mine and several other small-scale mines. The gold mineralization and geology at Jabali is believed to be similar in character to the gold mineralization at the Mulatos mine. Alamos Gold Inc., in a 2003 annual report identifies the Jabali project as being part of the "Los Bajios" mineralized trend which the report suggests has the potential to host another Mulatos size resource. The Tarachi project is an early stage exploration project and the mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
The Mulatos gold trend is part of the Sierra Madre gold and silver belt that also hosts the operating Mulatos gold mine immediately southeast of the La India property and the Pinos Altos mine and the Creston Mascota deposit 70 kilometres to the southeast.
Mineralization occurs within silicified rhyodacite and is associated with vuggy silica alteration, and breccia with iron oxide (hematite and specularite). Native gold occurs along late-stage fracture coatings in the breccias and is locally associated with barite. Past exploration has returned values from trace to 30g/t Au in grab samples. Native gold has also been identified in outcrop on the southern extension of the La Dura mine trend.
Lorne Warner, PGeo, President, CEO and Director of the company is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
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