April 20th 2022 – Vancouver and Hong Kong – Reyna Gold Corp. (TSXV: REYG. OTCQB: REYGF) (“Reyna” or the “Company”) is pleased to announce initial results from the first 8 holes totaling 710 meters(m) of its ongoing 10,000m drill program at its 24,215 hectares Flagship La Gloria Property in Sonora, Mexico. Reyna has achieved the two primary objectives from these holes of extending the breccia zone at Big Pit and establishing quartz veining of grade and size at Pique Viejo. All 8 holes hit gold mineralized structures in initial exploration drilling across the 160 hectares Main Zone target area.
Highlights:
- Drill hole LG-22-005, 7.85m of 3.95 grams per ton (g/t) Gold (Au) from surface, including 1.30m of 19.65 g/t Au, extending the known breccia northeast
- Drill hole LG-22-001, 30.6m of 0.51 g/t Au from surface increasing depth of known breccia
- Drill holes LG-22-007 & LG-22-008 discovered Las Amarillas Vein including intersects of 0.6m of 8.61 g/t Au and 0.5m of 4.13 g/t Au and established minimum length for Amarillas Vein of 280m
- Drill Holes LG-22-008 established Las Amarillas Vein Zone of 81m discontinuous length with seven veins closely stacked
“These are great initial results we are really pleased to have hit a substantial vein at Pique Viejo with the first two drill holes there and to have hit high-grade gold from surface at Big Pit.” Michael Wood CEO of Reyna Gold commented. “The Las Amarillas Vein is a just one of many new targets the geological team have identified on our 24,215 hectares property. We are taking a district scale approach to exploring La Gloria and we are expecting to continue uncovering new areas of gold, silver and copper mineralization across the property.”
The Las Amarillas Vein is the fourth major vein Reyna has now discovered on a developing trend of veins running on the regional northwest trend in Main Zone and El Sombrero target areas, a combined target area of around 2,000 hectares.
Las Amarillas Discovery – Pique Viejo
Drill Holes LG-22-007 and LG-22-008 both intersected the Las Amarillas Vein. LG-22-007 intersected the vein around 40m from surface, with an intersect of 8.61 g/t Gold, 11.2 g/t Silver (Ag), 0.11% Copper (Cu), 0.26% Lead (Pb), 0.13% Zinc (Zn) over 0.60m, and hit another 5 veins and veinlets zones with Au, Ag, Cu, Pb and Zn grades.
LG-22-008 intersected the Las Amarillas Vein 105m further north-northwest (NNW), and at around 60m depth from surface, with a main intersect of 4.13 g/t Au, 18.3 g/t Ag, 0.10% Cu, 0.49% Zn over 0.50m. LG-22-008 intercepted seven veins from 6m to 87m deep, identifying a vein zone with a discontinuous width of 81m (separation between veins no greater than 15m).
With the information obtained from holes LG-22-007 and LG-22-008 and work at surface, Reyna is able to corroborate the Las Amarillas Vein has a minimum length of 280m, and is a high-grade gold rich, polymetallic vein. Reyna first identified the Las Amarillas Vein via two high-grade gold surface samples of 93.9 g/t Au, 54 g/t Ag, with traces of Cu, Pb & Zn and a second high-grade surface sample northwest on the vein of 36.2 g/t Au, 12.3 g/t Ag with traces of Pb and Zn. (https://reynagold.com/read/PR-20220110). In addition, with holes, LG-22-007 and LG-22-008, an area of veins & veinlets was discovered, both at the hanging wall and foot-wall of the high-grade gold vein, with which the company can confirm a minimum width of 81m of veins and veinlets zone at Las Amarillas. The Reyna geological team believe that the system could well could become thicker and higher grade at depth, and follow-up drilling is being planned.
“There is great potential at Las Amarillas for a substantial vein system. We have hit a lot of veins and veinlets just in these initial two holes that are relatively shallow. What is even more exciting is that we are also finding similar veins at surface running on the northwest trend in San Pedro, Las Quintas, Las Quintas West and La Republicana target areas, which when added to Main Zone and El Sombrero targets, creates a substantial target area stretching around 16km in length.” said Ariel Navarro VP of Exploration Reyna Gold.
Figure 1: Las Amarillas Vein with Drill Hole and Sample Locations
Breccia Zone Extensions – Big Pit
Holes LG-22-01, LG-22-03 and LG-22-05 were drilled looking to extend the depth and the strike southwest and northeast of the known gold hosting hydrothermal breccia at Big Pit. LG-22-05 was drilling 25m northeast of known mineralization towards El Sombrero target, following up on a surface sample of 46 g/t Au and returned 3.95 g/t Au over 7.95m from surface. LG-22-001 was drilling into the known hydrothermal breccia and returned 30.6m of 0.51 g/t Au. LG-22-03 extended the hydrothermal breccia southwest and returned 11m of 0.24 g/t Au.
Holes LG-22-002, LG-22-004, and LG-22-006, were designed to test extensions south and did intersect a tectonic-hydrothermal breccia of 21.90m (LG-22-002), 51.80 m (LG-22-004) and 18.40 m (LG-22-006) but this tectonic-hydrothermal breccia presented limited gold grades from the assay results. Reyna is assessing the possibility of re-assaying with a different assay method better suited to assaying coarse-grained gold. Coarse-grained gold is common in the Orogenic Gold Belt deposits of Northwestern Mexico, Southwestern Arizona, Southeast California and Nevada.
The breccias at La Gloria contain veinlets, patches, and veins of milky white quartz, with pyrite, galena, sphalerite, iron carbonates (mainly ankerite and siderite), the host rock presenting a hydrothermal alteration mainly of quartz-sericite, and to lesser extent carbonates, which is a similar assemblage to the veins and veinlets of the La Herradura and El Chanate mines. At La Herradura, stronger sericitic/quartz-sericite alteration and higher abundance of veins and veinlets, is associated with the higher gold grades, we are observing the same at La Gloria.
Figure 2: Drill Hole Locations Main Zone with Highlights of First Eight Holes
Drill Highlights Table
The full list of assays and details of drillhole depth, dip and azimuth may be found here (Ctrl + Click to open the link) on Reyna Gold’s website Reynagold.com.
Drilling is ongoing and Reyna has now completed 17 holes totaling 2,236 meters of drilling. The first 36 drill holes have been outlined totaling around 3,700 of the initial 10,000m phase 1 drill program (https://reynagold.com/read/news-20220413). Reyna intends to keep releasing batches of drill results when received over the coming weeks and months as the company continues to advance the district-scale La Gloria property.
Michael Wood
Chief Executive Officer
For Further Information, Please Contact:
Reyna Gold Corp.
Michael Wood, Chief Executive Officer
About Reyna Gold Corp.
Reyna Gold Corp. is a gold exploration company focused on district-scale exploration on two major gold belts in Mexico. The Company has a portfolio of assets on the Mojave-Sonora Megashear and the Sierra Madre Gold and Silver Belt consisting of over 57,000 hectares/ 570 sq km. The Company has an experienced management team with a proven track record of wealth creation in Mexico through project discovery, advancement and monetization. La Gloria the Flagship project is 24,215 hectares/242 sq km on the prolific Mojave-Sonora Megashear, where over 35million ounces of gold have been discovered.
Neither the 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 news release.
Qualified Person
Steve Robertson has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Mr. Robertson has a B.Sc. in Geology and more than 30 years of relevant experience exploring in the North American Cordillera. He is a Registered Professional Geoscientist (Reg. 21201) with the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Robertson is not independent as he is on the board of directors of Reyna Gold Corp. Mr. Robertson is satisfied that the results are verified based on a review of the field program details, imagery data, a review of the sampling procedures, sample results, the credentials of the professionals completing the work and the nature of the gold mineralization in a well-known district for the style of mineralization.
QA/QC Statement
QA/QC Statement Reyna Gold follows industry standard procedures for diamond core drilling and sample analysis. Drilling is done with NQ size tools. The drill core is cut in half with a diamond rock saw and then half of the core is taken as a sample for analysis and the other as a log. Sampling intervals are generally 0.2 to 2 m intervals, producing samples between 0.6 and 10 kg. Half-core samples are shipped to ALS Minerals’ internationally certified laboratory facility in the city of Hermosillo, where the samples are prepared. ALS has a quality management system (ISO 17025) and testing is performed by ALS Minerals in Canada. Samples are fire tested for Au (Au-AA24) and analyzed for Ag and multiple elements using the ICP method code (ME-ICP41 + ME-ME42, only to analyze tellurium) after digestion with aqua regia. Samples showing visible gold are resubmitted to ALS for metal screen assay. Overlimits are analyzed using an appropriate method. Multi-element geochemical standards and blanks or duplicates are inserted based on depth and mineralization of each hole, having 15% to 20% QA/QC control samples per hole, thus monitoring the laboratory performance. The control samples are inserted in a blank, standard and duplicate pattern, each hole begins with a blank and at least 3 control samples are taken into account for every 20 samples, complying with a minimum of 15% with control samples and standards of quality by probing, these are separated and inserted every 7 to 10 samples for the case of standard and white pulps, and duplicated every 30 samples. Subsequently, the mineralized zone is taken into account by inserting a control at the beginning of the zone, the middle zone and with the greatest abundance of mineral and at the limit of the mineralized zone with the host rock, having at this stage at least 20% of samples for QA. In reference to the chain of custody, the samples are transported from La Gloria by Reyna Gold personnel to ALS Chemex in the city of Hermosillo.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to anticipated timing and results of the Company’s drill programs. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final long form non-offering prospectus dated December 6, 2021 available for review on the Company’s profile at www.sedar.com. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Original Article: https://reynagold.com/read/news-20220420
