TORONTO -- (Business Wire)
Toachi Mining Inc., (“Toachi” or the “Company”) (TSX-V:TIM)
(OTCQB:TIMGF) is pleased to announce new high grade trenching assay
results that extends the known VMS corridor footprint further north
including a trench cut assaying 6 meters @ 2.02 g/t Au, 32.50 g/t Ag,
2.34% Cu, 0.79% Pb and 2.59% Zn.These new trenching results
are located 150 meters north of the high grade trenching results
previously reported by Toachi on January 16th, 2019.
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Figure 1
Guatuza North Trenching Significant Intercepts
LPTR-18-08* Guatuza: (0.0m – 6.0m) @ 2.02 g/t Au, 32.50 g/t Ag,
2.34% Cu, 0.79% Pb, 2.59% Zn
LPTR-18-13 Guatuza (San Jose): (2.1m – 3.1m) 1m @ 1.08 g/t Au,
44.40 g/t Ag, 0.48% Cu, 1.92% Pb, 7.94% Zn;
LPTR-18-14 Guatuza (San Jose): (0.0m – 3.4m) 3.4m @ 1.15 g/t Au,
24.42 g/t Ag, 0.23% Cu, 1.24% Pb, 4.39% Zn;
- The complete trenching results summary is available at http://www.toachimining.com/projects/technical-reports/
where additional information is described in Table 1 along with plan
maps and profile.
- *Based on a 4ppm AuEq cut-off grade, 1m minimum composite length
and 1m maximum internal dilution.
- *Channel LPTR-18-08 is cutting the intersected mineralization close
to its true width.
- The channels LPTR-18-13 and LPTR-18-14 are perpendicular to the
intersected mineralization and structures.
- Moderate to high BLEG (gold) anomalies were also confirmed last
week at the Guatuza prospect, La Mina North Block and Aguas Calientes
prospect. These BLEG samples were collected in the final quarter of
2018 along the main drainages of these prospects.
- A location map of the new high grade VMS trench intercepts and
anomalous BLEG (gold) assay results is shown in Figure
1.
Alain Bureau, President and CEO, stated, "In comparison to the surface
expression above the known VMS Horizon at La Mina South and La Mina
North, we are encouraged by the geological similarities recently
discovered, which bring solid drill ready targets.”
|
Trenching Assay Results Summary |
|
CHANNEL |
| FROM (m) |
| TO (m) |
| LENGTH (m) |
| Au (ppm) |
| Ag (ppm) |
| Cu (%) |
| Pb (%) |
| Zn (%) |
LPTR-18-08 |
| 0 |
| 2 |
| 2 |
| 1.51 |
| 33.80 |
| 3.04 |
| 0.58 |
| 1.33 |
LPTR-18-08 |
| 2 |
| 4 |
| 2 |
| 2.52 |
| 32.30 |
| 2.35 |
| 1.42 |
| 4.42 |
LPTR-18-08 |
| 4 |
| 6 |
| 2 |
| 2.04 |
| 31.40 |
| 1.64 |
| 0.37 |
| 2.01 |
LPTR-18-08
|
|
6
|
|
6.7
|
|
0.7
|
|
0.68
|
|
5.80
|
|
0.04
|
|
0.07
|
|
0.02
|
LPTR-18-08
|
|
6.7
|
|
8.7
|
|
2
|
|
0.50
|
|
3.00
|
|
0.18
|
|
0.07
|
|
0.08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-09
|
|
0
|
|
1
|
|
1
|
|
0.42
|
|
6.10
|
|
0.33
|
|
0.54
|
|
0.01
|
LPTR-18-09
|
|
1
|
|
2
|
|
1
|
|
0.34
|
|
2.30
|
|
0.43
|
|
0.01
|
|
0.01
|
LPTR-18-09
|
|
2
|
|
3
|
|
1
|
|
0.42
|
|
5.90
|
|
0.24
|
|
0.02
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-10
|
|
0
|
|
1.7
|
|
1.7
|
|
0.37
|
|
6.60
|
|
0.22
|
|
0.07
|
|
0.09
|
LPTR-18-10
|
|
1.7
|
|
3.2
|
|
1.5
|
|
1.22
|
|
21.90
|
|
0.17
|
|
0.07
|
|
0.08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-11
|
|
0
|
|
2
|
|
2
|
|
0.16
|
|
1.90
|
|
0.03
|
|
0.01
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-12
|
|
0
|
|
0.5
|
|
0.5
|
|
0.12
|
|
1.70
|
|
0.05
|
|
0.20
|
|
0.03
|
LPTR-18-12
|
|
0.5
|
|
2.5
|
|
2
|
|
0.28
|
|
2.80
|
|
0.02
|
|
0.08
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-13
|
|
0
|
|
2.1
|
|
2.1
|
|
0.25
|
|
16.30
|
|
0.10
|
|
0.19
|
|
0.07
|
LPTR-18-13 |
| 2.1 |
| 3.1 |
| 1 |
| 1.08 |
| 44.40 |
| 0.48 |
| 1.92 |
| 7.94 |
LPTR-18-13
|
|
3.1
|
|
4.5
|
|
1.4
|
|
0.67
|
|
25.10
|
|
0.15
|
|
0.54
|
|
0.89
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-14 |
| 0 |
| 2 |
| 2 |
| 1.42 |
| 23.60 |
| 0.28 |
| 0.58 |
| 5.12 |
LPTR-18-14 |
| 2 |
| 3.4 |
| 1.4 |
| 0.75 |
| 25.60 |
| 0.16 |
| 2.17 |
| 3.35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-15
|
|
0
|
|
0.5
|
|
0.5
|
|
0.10
|
|
1.80
|
|
0.01
|
|
0.32
|
|
0.25
|
LPTR-18-15
|
|
0.5
|
|
1.1
|
|
0.6
|
|
0.12
|
|
0.60
|
|
0.01
|
|
0.02
|
|
0.02
|
LPTR-18-15
|
|
1.1
|
|
2.5
|
|
1.4
|
|
0.48
|
|
11.90
|
|
0.12
|
|
0.53
|
|
0.85
|
LPTR-18-15 |
| 2.5 |
| 3.4 |
| 0.9 |
| 1.16 |
| 43.40 |
| 0.19 |
| 2.31 |
| 5.59 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-16
|
|
0
|
|
0.45
|
|
0.45
|
|
1.03
|
|
15.70
|
|
0.36
|
|
0.03
|
|
2.87
|
LPTR-18-16
|
|
0.45
|
|
1.75
|
|
1.3
|
|
1.37
|
|
16.30
|
|
0.07
|
|
0.37
|
|
0.72
|
LPTR-18-16
|
|
1.75
|
|
2.3
|
|
0.55
|
|
0.28
|
|
4.50
|
|
0.02
|
|
0.39
|
|
0.11
|
LPTR-18-16
|
|
2.3
|
|
3.5
|
|
1.2
|
|
0.14
|
|
5.50
|
|
0.02
|
|
2.09
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LPTR-18-17
|
|
0
|
|
0.5
|
|
0.5
|
|
1.49
|
|
13.00
|
|
0.26
|
|
0.03
|
|
1.52
|
LPTR-18-17
|
|
0.5
|
|
1.7
|
|
1.2
|
|
0.88
|
|
5.00
|
|
0.05
|
|
0.19
|
|
0.39
|
LPTR-18-17
|
|
1.7
|
|
2.2
|
|
0.5
|
|
0.29
|
|
2.00
|
|
0.03
|
|
0.24
|
|
0.06
|
LPTR-18-17
|
|
2.2
|
|
2.65
|
|
0.45
|
|
0.19
|
|
21.50
|
|
0.02
|
|
0.73
|
|
0.02
|
LPTR-18-17
|
|
2.65
|
|
4.1
|
|
1.45
|
|
0.24
|
|
13.40
|
|
0.03
|
|
0.51
|
|
0.04
|
|
| |
| |
| |
| |
| |
| |
| |
| |
Exploration Program & Vectoring Summary
These new trench assay results continue to confirm and validate the high
grade Guatuza VMS corridor and extend it 150 meters further to the north
(San Jose prospect). Toachi’s exploration team on the ground is
continuing this successful trenching campaign based on the results of
the 2018 mapping and prospecting program. Cleaning, mapping and trench
channel sampling of VMS mineralised outcrops are continuing with the aim
of testing the full northern extent of the Guatuza, San Ramon and San
Pablo South VMS corridor targets prior to this year’s proposed
exploration drilling program.
During January 2019, continued cleaning of talus and debris covering
areas of near surface VMS mineralization was completed in the Open Pit
north wall, stream “Quebrada Mala” and in stream “Quebrada Tajo” (please
refer to the map available on Toachi’s website). Removal of younger ash
fall and lahar cover over Eocene bedrock was continued along the San
Ramón stream at the San Pablo South Prospect and in the upper parts of
the streams of Quebrada San Jose and Quebrada Andino in the Guatuza zone
and in the San Ramon prospects respectively.
Channel sampling was also completed in part of the San Ramon stream in
San Pablo South prospect and within the recently cleaned outcrops in the
Open pit north wall, Quebrada Mala in the La Mina North block and
Quebrada Tajo (east of the open pit) in the southern part of the Guatuza
prospect.
QA/QC Sampling Protocols
All trenching intervals have been reported on a minimum composite grade
of 4ppm gold equivalent cut-off, 1m minimum composite length using a
maximum internal dilution of 1m and provide sampling coverage on a
continuous basis. The surface trenching samples with base metal assay
results above 1% have been re-assayed using the multi-element ICP-ES, 4
acid digestion analytical method for ore grade assays.
Trenching undertaken by Toachi Mining in 2019 has been supervised by
onsite personnel at the project who meticulously collect and track
samples, which were then sealed and shipped to MS Analytical in Canada
for analysis. The sample preparation was performed by Ecuadorian
partner, LAC y Asociados.
Both LAC y Asociados and MSA are ISO 9001:2008 registered companies. MS
Analytical also meets the requirements as outlined in ISO/IEC
17025. Analytical accuracy and precision are independently controlled
using blanks, control reference material and duplicate samples.
Stream sediment samples were collected and sieved at the sampling site
using a 1mm screen. Control duplicate samples were taken at a rate of 1
in 20 samples. The sample material was tagged, packed into a plastic and
calico bags, then air dried at the Toachi’s field camp in Palo Quemado.
The semi-dry samples were dispatched to LAC y Asociados laboratory in
Cuenca, Ecuador and further sieved using the 0.3 mm screen. The sieved
<0.3 mm samples were then shipped to Activation Laboratories Ltd. in
Canada for BLEG analysis.
Actlabs (Activation Laboratories Ltd), Ancaster is an ISO17025
accredited (Lab 266) by the Standards Council of Canada (SCC) for
specific methods listed in the scope of accreditation, available via https://www.scc.ca/en/palcan/137.
The Qualified Person under the NI 43-101 Standards of Disclosure for
Mineral Projects for this news release is Michael D Druecker Ph.D., CPG,
who has reviewed and approved its contents.
About Toachi Mining Inc.
Toachi brings a disciplined and veteran team of project managers
together with one of the industry’s highest grade polymetallic projects
at La Plata in Ecuador. Toachi is focused on and committed to the
development of advanced stage mineral projects throughout the Americas
using industry best practices combined with a strong social license from
local communities. Toachi Mining has 81,166,435 shares issued and
outstanding.
Forward Looking Statements
Certain statements contained in this news release may constitute
“forward-looking information” as such term is used in applicable
Canadian securities laws. Forward-looking information is based on plans,
expectations and estimates of management at the date the information is
provided and is subject to certain factors and assumptions, including,
that the Company’s financial condition and development plans do not
change as a result of unforeseen events and that the Company obtains
regulatory approval. Forward-looking information is subject to a variety
of risks and uncertainties and other factors that could cause plans,
estimates and actual results to vary materially from those projected in
such forward-looking information. Factors that could cause the
forward-looking information in this news release to change or to be
inaccurate include, but are not limited to, the risk that any of the
assumptions referred to prove not to be valid or reliable, that
occurrences such as those referred to above are realized and result in
delays, or cessation in planned work, that the Company’s financial
condition and development plans change, and delays in regulatory
approval, as well as the other risks and uncertainties applicable to the
Company as set forth in the Company’s continuous disclosure filings
filed under the Company’s profile at www.sedar.com.
The Company undertakes no obligation to update these forward-looking
statements, other than as required by applicable law.
Neither 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 release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190221005288/en/
Contacts:
Alain Bureau
President and CEO
Candace Di Vito
Manager, Investor Relations
Telephone: 416 365
7043
Email: cdivito@toachimining.com
Source: Toachi Mining Inc.
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