VANCOUVER, British Columbia -- (Business Wire)
Telson Mining Corporation (“Telson” or the “Company”)
(TSX-V – TSN, OTC Pink – SOHFF, Frankfurt – TSGN (formerly SQ82)) is
pleased to report the following assay results from veins exposed in
Level 12 Decline underground development at its Tahuehueto Mine Project.
Vein |
| Width meters |
| Assays | |
| | Au_g/t |
| Ag_g/t |
| Cu_% |
| Pb_% |
| Zn_% | |
N12Creston_778N
| |
3.25
| |
7.10
| |
37.05
| |
0.22
| |
0.93
| |
5.37
| |
N12Creston_778N
| |
6.10
| |
5.04
| |
36.18
| |
0.16
| |
1.82
| |
3.88
| |
N12Creston_778S
| |
8.05
| |
2.52
| |
28.06
| |
0.19
| |
0.84
| |
2.90
| |
| |
| |
| |
| |
| |
| |
| |
N12Perdido NE
| |
4.20
| |
8.02
| |
96.18
| |
2.93
| |
4.99
| |
8.25
| |
N12Perdido SW
| |
4.40
| |
2.62
| |
19.00
| |
1.27
| |
3.84
| |
3.74
| |
Highlights
As outlined on the company’s previous news release dated October
2, 2018 the Company has been steadily advancing underground
development preparing the Tahuehueto Mine Project for initial startup
scheduled during Q1 2019.
One of the main production declines under development, the N12 Decline
has been driven over 120 m exposing veins of the El Perdido Zone, the El
Creston Zone and the newly discovered vein named Enmedio. (View
Image Here). Channel sampling across these veins have returned
excellent assay results on multiple faces.
Please refer to the image links below for sample locations and the table
below for detailed sample assay results.
Image 1 – Level
Plan of N12 Decline Showing Mineralized Vein Structures
Image 2 – Level
Plan of El Creston Structure and Veins
Image 3 – Level
Plan of El Perdido and Enmedio Veins
Vein |
| Sample |
| Lab Certificate |
| Width |
| Assays | |
| | | | Au_g/t |
| Ag_g/t |
| Cu_% |
| Pb_% |
| Zn_% | |
N12Perdido NE
| |
1959
| |
DU39721
| |
1.00
| | 12.42 | |
44
| | 3.30 | |
1.56
| |
4.73
| |
|
1960
| |
DU39721
| |
1.10
| |
4.47
| |
28
| | 2.91 | |
1.76
| | 8.63 | |
|
1961
| |
DU39721
| |
1.10
| |
2.68
| |
24
| | 2.47 | | 6.79 | | 9.48 | |
|
1962
| |
DU39721
| |
1.00
| | 13.38 | | 303 | | 3.09 | | 9.98 | | 9.98 | |
| Total | | 4.20 | | 8.02 | | 96 | | 2.93 | | 4.99 | | 8.25 | |
N12Perdido SW
| |
1954
| |
DU39666
| |
1.10
| |
2.01
| |
33
| |
1.7
| |
1.41
| |
2.40
| |
|
1955
| |
DU39666
| |
1.10
| |
3.81
| |
24
| | 2.08 | | 7.81 | |
2.07
| |
|
1956
| |
DU39666
| |
1.10
| |
4.41
| |
12
| |
1.04
| |
3.64
| | 9.37 | |
|
1957
| |
DU39666
| |
1.10
| |
0.27
| |
7
| |
0.24
| |
2.48
| |
1.10
| |
| Total | | 4.40 | | 2.62 | | 19 | | 1.27 | | 3.84 | | 3.74 | |
N12Enmedio
| |
1970
| |
DU39840
| |
1.10
| |
0.93
| |
28
| |
0.12
| |
0.2
| |
0.53
| |
|
1971
| |
DU39840
| |
1.30
| |
0.02
| |
8
| |
0.00
| |
0.03
| |
0.15
| |
|
1972
| |
DU39840
| |
0.60
| | 9.71 | |
61
| |
0.61
| |
0.24
| |
0.39
| |
| Total | | 3.00 | | 2.29 | | 26 | | 0.17 | | 0.13 | | 0.34 | |
N12Creston_778N
| |
1885
| |
DU40120
| |
0.80
| | 7.98 | |
48
| |
0.10
| |
1.45
| |
2.64
| |
|
1886
| |
DU40120
| |
1.10
| | 5.48 | |
39
| |
0.19
| |
2.36
| |
6.72
| |
|
1887
| |
DU40120
| |
1.70
| |
2.54
| |
29
| |
0.21
| |
0.71
| |
2.69
| |
|
1888
| |
DU40120
| |
1.20
| |
4.60
| |
35
| |
0.07
| |
0.44
| |
0.72
| |
|
1889
| |
DU40120
| |
1.30
| | 6.55 | |
37
| |
0.18
| | 4.30 | | 6.73 | |
| Total | | 6.10 | | 5.04 | | 36 | | 0.16 | | 1.82 | | 3.88 | |
N12Creston_778S
| |
2351
| |
DU40120
| |
1.30
| |
2.86
| |
13
| |
0.11
| |
0.37
| |
0.51
| |
|
2352
| |
DU40120
| |
1.40
| |
0.73
| |
22
| |
0.18
| |
0.59
| |
1.68
| |
|
2353
| |
DU40120
| |
1.20
| | 5.91 | |
34
| |
0.20
| |
0.99
| |
3.85
| |
|
2354
| |
DU40120
| |
1.10
| |
1.20
| |
34
| |
0.14
| |
0.51
| |
3.41
| |
|
2355
| |
DU40120
| |
1.05
| |
3.07
| |
32
| |
0.18
| |
1.43
| | 6.66 | |
|
2356
| |
DU40120
| |
1.20
| |
1.30
| |
36
| |
0.30
| |
1.09
| |
2.68
| |
|
2357
| |
DU40120
| |
0.80
| |
2.96
| |
29
| |
0.24
| |
1.11
| |
2.22
| |
| Total | | 8.05 | | 2.52 | | 28 | | 0.19 | | 0.84 | | 2.90 | |
N12Creston_772S
| |
2387
| |
DU40206
| |
0.50
| |
4.47
| |
154
| |
0.55
| |
3.04
| |
4.88
| |
|
2388
| |
DU40206
| |
0.90
| |
4.38
| |
74
| |
0.15
| |
1.84
| |
1.91
| |
|
2389
| |
DU40206
| |
0.30
| |
0.66
| |
20
| |
0.07
| |
1.21
| |
1.24
| |
| Total | | 1.70 | | 3.75 | | 88 | | 0.25 | | 2.08 | | 2.67 | |
N12Creston_778S
| |
2368
| |
DU40174
| |
0.80
| |
2.57
| |
46
| |
0.31
| |
1.11
| | 5.42 | |
|
2369
| |
DU40174
| |
0.85
| |
0.45
| |
34
| |
0.30
| |
1.43
| |
2.19
| |
|
2370
| |
DU40174
| |
0.70
| |
2.21
| |
32
| |
0.25
| |
1.18
| |
2.32
| |
|
2371
| |
DU40174
| |
0.75
| |
3.89
| |
23
| |
0.18
| |
0.53
| |
1.57
| |
|
2372
| |
DU40174
| |
0.90
| |
2.11
| |
36
| |
0.33
| |
1.14
| |
2.49
| |
| Total | | 4.00 | | 2.20 | | 34 | | 0.28 | | 1.09 | | 2.81 | |
N12Creston_778N
| |
2364
| |
DU40174
| |
0.70
| | 6.97 | |
31
| |
0.31
| |
0.36
| | 8.67 | |
|
2365
| |
DU40174
| |
0.70
| | 15.40 | |
85
| |
0.49
| |
1.93
| | 11.10 | |
|
2366
| |
DU40174
| |
0.80
| |
2.21
| |
7
| |
0.03
| |
0.30
| |
0.37
| |
|
2367
| |
DU40174
| |
1.05
| | 5.37 | |
32
| |
0.12
| |
1.13
| |
3.16
| |
| Total | | 3.25 | | 7.10 | | 37 | | 0.22 | | 0.93 | | 5.37 | |
All the above samples were submitted to SGS De Mexico. S.A. de C.V.
independent laboratory located in Durango city Mexico. Assay methods
utilized were GE_FAA313 for gold and Silver, Multi-element GE_ICP14B and
for lead and zinc over-limits, GO_ICP90Q. Additional detail on assay
methodology used can be found on SGS website at https://www.sgs.mx/en
Antonio Berlanga, CEO, states “The assay values returned, confirm the
excellent ore quality and potential of Tahuehueto. Selective Cut and
Fill mining methods to be used during mining operations will ensure the
high quality of mined ore, minimize dilution and help deliver low mining
cost. This along with an innovative mine design that is significantly
reducing the required underground development that was envisioned in
previous studies, is sure to allow the Tahuehueto Mine to maximize
future profitability for the benefit of all Telson stakeholders
including employees, local communities and shareholders.”
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining company with two
Mexican gold, silver and base metal mining projects. Telson is currently
in commercial production at its 100% owned Campo Morado Mine in
Guerrero, Mexico. Effective May 15, 2018 Telson declared commercial
production at Campo Morado. Telson is currently producing zinc and lead
concentrates with gold, silver and copper as by-products, processing
approximately 2,000+ tons per day through the Campo Morado milling
facilities.
Telson's 100% owned Tahuehueto Project, located in north-western Durango
State, Mexico is currently in construction development. Pre-production
commenced at Tahuehueto in August 2017, currently mining at a rate
averaging 170 tonnes per day during Sept 1st – 23rd 2018 shipping ore to
a third-party toll mill for processing. Management has a targeted
timeline at Tahuehueto to be producing with its own on-site mineral
processing plant, with a designed capacity of at least 1,000 tonnes per
day, during the first quarter of 2019.
Regular metal concentrate deliveries and sales are well underway from
both projects.
Visit: www.telsonmining.com
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P.Geol, President and Director
Qualified Persons
This press release was prepared under the supervision and review of
Ralph Shearing, P.Geol., President and Director of Telson Mining
Corporation, a Professional Geologist registered in Alberta as a member
of the professional association APEGA, and a Qualified Person as defined
by NI 43-101. Data verification by Mr. Shearing includes personal
inspection of the Campo Morado mine site, reviewing mining facilities,
drill core, underground development and discussing work programs and
results with geology and mining personnel.
Cautionary Note Regarding Production Decisions and Forward-Looking
Statements
It should be noted that at Tahuehueto, Telson is mining reserves
supported by a pre-feasibility published early 2017 while at Campo
Morado pre-production mining is proceeding without the benefit of
pre-feasibility or feasibility studies that outline mineral reserves and
has declared commercial production at Campo Morado prior to completing a
feasibility study of mineral reserves demonstrating economic and
technical viability.Accordingly, readers should be cautioned
that Telson’s Campo Morado production decision has been made without a
comprehensive feasibility study of established reserves such that there
is greater risk and uncertainty as to future economic results from the
Campo Morado mine and a higher technical risk of failure than would be
the case if a feasibility study was completed and relied upon to make a
production decision.Telson has completed a preliminary economic
assessment (“PEA”) mining study on the Campo Morado mine that provides a
conceptual life of mine plan and a preliminary economic analysis based
on the previously identified mineral resources (see News Release dated
November 8, 2017 and April 4, 2018).This will soon be replaced
by a pre-feasibility study (“PFS”) that will allow the application of
modifying factors to the mineral resources to allow a portion of them to
be converted to mineral reserves.
Statements contained in this news release that are not historical
facts are “forward-looking information” or “forward-looking statements”
(collectively, “Forward-Looking Information”) within the meaning of
applicable Canadian securities laws. Forward Looking Information
includes, but is not limited to, disclosure regarding possible events,
conditions or financial performance that is based on assumptions about
future economic conditions and courses of action; the timing and costs
of future activities on the Company’s properties, such as production
rates and increases; success of exploration, development and bulk sample
processing activities and timing for processing at its own mineral
processing facility on the Tahuehueto project site. In certain cases,
Forward-Looking Information can be identified by the use of words and
phrases such as “plans”, “expects”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or variations of such words and
phrases. In preparing the Forward-Looking Information in this news
release, the Company has applied several material assumptions,
including, but not limited to, that the current exploration,
development, environmental and other objectives concerning the Campo
Morado Mine and the Tahuehueto Project can be achieved, the continuity
of the price of gold, zinc, lead and other metals, economic and
political conditions and operations. Forward-Looking Information
involves known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking Information.
There can be no assurance that Forward-Looking Information will prove to
be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on Forward-Looking Information. Except as
required by law, the Company does not assume any obligation to release
publicly any revisions to Forward-Looking Information contained in this
news release to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
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/20181015005543/en/
Contacts:
Telson Mining Corporation:
Glen Sandwell, Corporate Communications
Manager
ir@telsonmining.com
Tel:
+1 (604) 684-8071
Source: Telson Mining Corporation
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