MONTREAL, QUEBEC, Nov 26, 2012 (MARKETWIRE via COMTEX) — Golden Tag Resources Ltd. /quotes/zigman/186520 CA:GOG -15.91% is pleased to provide additional results from the recently completed 5,500 metre program of diamond drilling on the San Diego Property, Durango State, Mexico. New assay results are now available for SD-12-50A, from 944 metres to 1049.10 metres (EOH.); and, for SD-12-50W, a wedge-cut from -50A. Hole -50W is the fifth and final hole of the current program. All five holes confirm strong continuity to Silver-, Lead- and Zinc-rich mineralization within a broad zone of stockwork veining and alteration along the Southeast Contact of the Central Diorite Intrusion. Mineralization remains open for further extension and additional drilling will be needed to establish the exact geometry of this new zone.
Hole SD-12-50A and 50 :
Highlights for -50A have been finalized as follows:
———————————————————————–
—–
Hole From To Length Au Ag Pb Zn Cu AgEQ.(i)
SD-12-50A (m) (m) (m) g/t g/t % % % g/t
—————————————————————————-
La Cruz Vein 23.30 27.80 4.50 0.38 346 0.88 1.70 0.103 444
—————————————————————————-
ENDOSKARN 686.50 1049.10 362.60 0.1 59 0.68 1.43 0.16 135
————————————————————–
Highlight 743.55 991.00 247.45 0.13 66 0.75 1.70 0.166 154
————————————————————–
incl. 743.55 801.00 57.45 0.23 97 1.04 1.81 0.168 200
incl. 837.50 855.50 18.00 0.24 71 1.29 2.35 0.161 195
incl. 907.85 953.25 45.40 0.18 86 0.99 2.81 0.238 218
with 918.05 937.20 19.15 0.22 120 1.59 4.44 0.278 316
—————————————————————————-
incl. 991.00 1049.10 58.10 0.03 43 0.45 1.15 0.186 104
—————————————————————————-
EOH at 1049.10 m
Results to 944 meters were reported in a News Release on September 24th, 2012. The return of assays from 944 to the end of hole (EOH) at 1049.1 meters shows that mineralization occurs over a core length of 362.6 meters from 686.50 to 1049.1 metres.
———————————————————————–
—–
Hole From To Length Au Ag Pb Zn Cu AgEQ.(i)
SD-12-50 (m) (m) (m) g/t g/t % % % g/t
—————————————————————————-
La Cruz Vein 17.40 22.00 4.60 0.45 517 0.62 1.55 0.045 602
—————————————————————————-
EOH at 27.75 m – Hole 12-50 abandoned due to excessive hole deviation
—————————————————————————-
Hole SD-12-50W :
Results for hole -50W, include:
———————————————————————–
—–
Hole From To Length Au Ag Pb Zn Cu AgEQ.(i)
————————————————————–
SD-12-50W (m) (m) (m) g/t g/t % % % g/t
—————————————————————————-
Stringer Zones 695.55 761.30 65.75 0.18 29 0.46 0.40 0.084 64
incl. 695.55 707.50 11.95 0.07 51 0.80 0.45 0.095 98
incl. 715.65 729.80 14.15 0.07 28 0.55 0.57 0.085 69
incl. 729.80 761.30 31.50 0.12 23 0.34 0.37 0.085 56
————————————————————–
ENDOSKARN 761.30 971.45 210.15 0.04 50 0.53 1.18 0.15 112
————————————————————–
incl. 761.30 787.45 26.15 0.09 47 0.57 0.85 0.16 104
incl. 787.45 818.75 31.30 0.05 31 0.36 0.53 0.09 66
————————————————————–
Highlight 818.75 971.45 152.70 0.03 55 0.55 1.37 0.16 122
————————————————————–
incl. 818.75 868.75 50.00 0.04 82 0.82 1.44 0.134 157
incl. 868.75 884.65 15.90 0.03 26 0.23 0.56 0.08 56
incl. 884.65 971.45 86.80 0.03 44 0.46 1.48 0.19 114
—————————————————————————-
Hole SD-12-50W terminated at 1152.0 m.
Note:1/(i)Ag Equivalent (Ag.EQ) Calculation uses US$commodity prices of:
$1300/oz .Au; $24.50/oz. Ag; $0.90/lb Zn; $0.95/lb Pb; $3.25/lb Cu applying
100% recovery of all metals. All reported lengths are core lengths in
meters. T = short ton; t = metric tonne.
2/ Cut off limits (& Minimum Mining Width): Selective Vein 93 g/t Ag (1.0
m); Long hole narrow 76 g/t Ag (2.50m); Bulk 60 g/t Ag (5.0m).
SD-12-50W confirms the continuity of mineralization between holes SD-12-50A and SD-12-49. Hole locations for Phase 6 are shown in Figure 1. The Company is planning to issue a news release in the very near future providing an overall review of the Phase 6 program.
The property is a 50/50 joint venture between Golden Tag and Golden Minerals Company /quotes/zigman/42886/quotes/nls/aumn AUMN -1.00% /quotes/zigman/42904 CA:AUM -0.76% . In March 2012, Golden Tag signed a revised option agreement with AUM whereby it can earn up an additional 10% interest in the property by incurring $3 million of exploration expenses (see news release:March 28)(see news release:2012). Golden tag has funded the Phase 6 program on the San Diego Property as part of this work commitment.
Quality Control
Mr. David Rigg, C.E.O. Golden Tag, P.Geo. and Ms. Kateri Marchand, P.Geo, San Diego Project Manager; both Qualified Person’s under the definition of NI 43-101, have supervised the work program and have reviewed the technical accuracy of this press release.
Assay samples are taken from HQ/NQ size drill core cut in half with one half sent to a commercial laboratory and other half retained for future reference. A strict QA/QC program is followed which includes mineralized standards and blanks for each batch of samples. Analyses were performed by ALS Chemex accredited assay laboratories of Zacatecas (Mexico) and Vancouver (Canada). All drill core, laboratory pulps and rejects are stored on site.
Golden Tag Resources
Golden Tag is focused on exploration for high-grade gold and silver deposits in Canada and Mexico. Exploration projects are being advanced on the San Diego silver project in Durango State, Mexico; the Aquilon gold project in James Bay, Quebec and the Verneuil gold project in Quebec. Golden Tag also has interests in the McCuaig gold project in Red Lake, Ontario. Golden Tag has 53,426,558 issued and outstanding shares and has no outstanding debt.
Cautionary Statement: Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Statements in the release that are “forward looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For a discussion of the risk factors that are inherent in our business see our public filings at www.sedar.com .
To view the accompanying figure please click to the following link: http://media3.marketwire.com/docs/Phase-6-Drill-Hole-Location.pdf
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.
Contacts:
Golden Tag Resources Ltd.
Marc A. Carrier
President and C.F.O.
(514) 426-8542
(514) 426-8543 (FAX)
[email protected]
