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Toachi Mining Inc.
Summary
| Project: | La Plata | |
|---|---|---|
| Deposit: | La Mina | |
| Location: | Ecuador | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 10/11/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-10-2017: Toachi Mining Inc. announces an Exploration/Drilling Update report for its La Mina deposit at the La Plata project. Drilling results incl. 13.91m @ 3.51g/t Au, 64.24g/t Ag, 0.59% Cu, 0.85% Pb, 4.11% Zn from 339.43m. Toronto, Ontario – October | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Phil Fox (Not stated) | |
| ABSTRACT: | Toronto, Ontario – October 11, 2017 – Toachi Mining Inc., (“Toachi” or the “Company”) (TSX-V: TIM) is pleased to announce results from on-going drilling at its La Plata gold-rich volcanogenic massive sulphide (“VMS”) project, located 100 kilometres southwest of Quito, Ecuador. The drill program began in August 2016 continued after the recently completed National Instrument 43-101 resource estimate, is designed to extend known mineralization within the resource area, and around the peripheries of the known mineralized corridor. Gold-bearing sulphide mineralization at La Plata occurs as compositional banding composed of chalcopyrite, sphalerite, and pyrite laminae with barite occurring as clasts and also as thin layers. Base and precious metal mineralization at La Plata is interpreted to have formed as part of multiple volcanic episodes that created a stacked volcanic-exhalite hydrothermal sequence which is considered favorable for hosting multiple VMS lenses. Examples of this exclusive group of gold-rich VMS camps include Rouyn-Noranda, DoyonBousquet-LaRonde, and the Flin Flon camps in Canada. Toachi’s exploration staff has identified more than 14 discrete exploration targets across the property concessions which extend for more than 9 kilometres, attesting to the potential of this emerging district. Within the resource area, modelling of historic and current drill results by Toachi staff has delineated four discrete mineralized zones which define the La Mina North and La Mina South blocks. For a 3-D graphic of the wireframed zones, please visit our website at www.toachimining.com and to review our latest presentation. To date, Toachi has completed 13,747 m of drilling on the La Plata project, mainly on the La Mina deposit. | |
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