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Toachi Mining Inc.
Summary
| Project: | La Plata | |
|---|---|---|
| Deposit: | La Plata | |
| Location: | Ecuador | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 3/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-3-2017: Toachi Mining Inc. announces an Exploration/Drilling Update report for its La Plata deposit at the La Plata project. Drilling results incl. 13.7m @ 1.49g/t Au, 31g/t Ag, 5.63% Cu, 0.11% Pb, 1.32% Zn. Toachi Mining Inc., (“Toachi” or the “Company | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: Phil Fox (Not stated) | |
| ABSTRACT: | 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 in Ecuador. The drill program, which began in August 2016, is designed to validate the historic drilling database at the La Plata project. The drilling program is intended to infill and expand known resourcesin the main La Mina VMS lenses leading to the completion of a National Instrument 43-101 compliant resource estimate later this year. Management believes the La Plata project, which is characterized by geology typical of major goldrich VMS camps around the world, hosts excellent potential for the discovery of additional discrete VMS zones amongst the 14 exploration targets identified to date. 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 Noranda, Doyon-BousquetLaRonde and the Flin Flon camps in Canada. | |
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