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San Diego Property, Velardeña Mining District, Durango State, Mexico

In 2005, the Company entered into a joint-venture agreement with ECU Silver Mining Inc. (now Golden Minerals Company) whereby Golden Tag could earn a 50% interest in the San Diego Property, Durango State, Mexico. Golden Tag vested into a 50% interest in the prope rty in January, 2008. To date, over 33,000 meters of surface diamond drilling have been completed on the property. 43-101 Compliant Mineral Resource Studies have been reported in January 2008, in January 2009, and, most recently, in April 2013. The 2013 Resource estimate was completed by SGS (Canada) Ltd. using a geo-statistical approach to resource estimation. 34 3D-Block Models were require d to evaluate 23 different mineralized zones identified on the property. Golden Tag acquired the remaining interests of Golden Miner als in July 2016. Golden Tag now owns 100% interest.

Location and Ownership:

The 92 Ha. San Diego Property is located 75 km southwest of the city of Torreon, 4 km ENE of Golden Mineral’s San Juana Mine and 13 km NE of Penoles’ Santa Maria Mine in NE Durango State, Mexico. The property is easily accessible power and mining infrastructure nearby. The property is approx. 20 minutes on a gravel road from a major 4 lane highway. The property is wholly owned by Golden Tag and is subject to a 2% NSR to Golden Minerals.

Deposit Setting:

The Velardeña Mining District hosts quartz-calcite veins with associated silver, lead, zinc, gold and copper mineralization typical of the polymetallic, low-sulphidation epithermal deposits of northern Mexico. The San Diego property is centered on a large Tertiary Diorite Stock which intrudes a thick sequence of Cretaceous limestone of the Aurora and Cuesta del Cura Formation.

San Diego Deposit:

33,000 meters of surface diamond drilling has been completed on the property since 2005. Silver occurs with Lead and Zinc sulphides and Silver-sulphosalts in a variety of environments, including: numerous laterally and vertically continuous Carbonate Veins; stringer zones; disseminated zones; Carbonate replacement zones; Mantos and, at depth, very large Skarn Zones. SGS (Canada) Ltd., using a geo-statistical approach to resource estimation, completed a 43-101 Compliant Resource Study in 2013. The study identified 23 different Mineralized zones and generated 34 3D-Block Models. Results from the study are shown in Table 1. The wide variety in style, width and grade of mineralization across the property was evaluated using appropriate cut-off grades related to narrow-vein mining, long-hole mining or large-scale bulk mining methods in Mexico.

Exploration Potential:

Indicated and Inferred Resources from the 34 3D-Block Models are determined geostatistically using the separation of the available, and often limited, drill holes. Areas of Potential Resources are those areas of the modelled mineralized zones where too few holes have been drilled to date for mineralization to be classified as a Resource. Further exploration, from surface to a depth of 400 meters, Table 2, will focus on high grade veins and where they may form ‘blow-outs’ or pipes at intersections with other zones.


Table 1. Estimated Mineral Resources, San Diego Project, Velardeña Mining District, Durango State, Mexico

(43-101 COMPLIANT REPORTING BY SGS, MARCH 2013)

INDICATED RESOURCES

Cut-Off   (g/t)

Tonnes

(Mt)

Ag              (g/t)

Pb               (%)

Zn                (%)

Ag.EQ (g/t)

Silver  Only (M.oz)

SilverEquiv. (M.oz)

BULK ZONES

52

14.80

51

0.65

1.17

94

24.07

44.51

OXIDE VEINS

133

0.31

211

1.15

0.90

234

2.110

2.33

SULPHIDE VEINS

52-125

1.37

123

1.23

1.85

197

5.43

8.68

TOTAL

16.48

60

0.71

1.22

105

31.61

55.52

 

INFERRED RESOURCES

Cut-Off   (g/t)

Tonnes

(Mt)

Ag              (g/t)

Pb               (%)

Zn                (%)

Ag.EQ       (g/t)

Silver Only (M.oz)

Silver Equiv. (M.oz)

BULK ZONES

52

28.65

46

0.67

1.08

88

42.44

80.69

OXIDE VEINS

133

0.29

238

0.81

0.91

261

2.20

2.41

SULPHIDE VEINS

52-125

13.10

93

1.41

1.83

171

39.17

72.23

TOTAL

42.04

62

0.90

1.31

115

83.81

159.93

Price Deck: 3-year trailing avg. Silver US$28.10/oz.; Lead US$1.00/lb.; Zinc US$0.96/lb.

Cautionary Statement: Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The potential quantity and grade reported as Mineral Potential, is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.




Table 2. VEIN-ONLY MINERAL RESOURCES AND POTENTIAL

SURFACE TO 400 METERS DEPTH

VEIN ONLY RESOURCE 0 to 400m

Tonnes (Mt)

Ag (g/t)

Pb (%)

Zn (%)

Ag.EQ (g/t)

Silver Only (M.oz)

Silver Equiv. (M.oz)

INDICATED

1.32

156

1.28

1.12

209

6.62

8.87

INFERRED

3.50

142

1.43

1.29

209

16.01

23.47

POTENTIAL

3.32

122

1.63

1.26

189

13.03

20.21




PHOTO GALLERIES:
2011
Road Making February-March 2008
October-November 2007
February 2007
May 2006