VANCOUVER, BC, Nov. 12, 2020 /CNW/ - Tarachi Gold Corp. (CSE:TRG) ("Tarachi" or the "Company") Tarachi is pleased to announce that the Company will mobilize a man portable diamond drill to commence drill testing known high-grade gold bearing structures on the San Javier Concession. The HQ diamond drilling program will focus along a north-west trending shear structure where holes SJA-14-002/004 encountered high-grade gold values. These holes are approximately 100 metres apart with no other drilling completed between or down-dip.

Significant Historical Drilling Results at San Javier Concession:

Highlights

• Shear zone gold mineralization at San Javier remains open along strike and to depth and may widen with depth.
• Mineralization is hosted within andesitic volcanics with an intrusive immediately adjacent.
• During this summer and from previous work there is possible mineralization under cover over hundreds of meters to the south along the projected shear zone trend as suggested by altered float.

Tarachi President and CEO, Lorne Warner stated "We are excited to start our first phase of drilling soon at San Javier with nine proposed holes for a total of 864 metres, once completed the style and structural controls to mineralization will become better understood and further drilling will be proposed."  

Figure 1: Tarachi North Area. San Javier – Mineralization host in sheared, brecciated and altered volcanics and mineralization open along strike and to depth.

Figure 2: San Javier – Geology and Structures. Concession is associated with sub-vertical hydrothermal breccias hosted in quartz-monzonite intrusives. Primary target is shear zone tested by holes SJA-14-03 and SJA-14-04.  These holes cut the north-west trending shear zone. Possible mineralization under cover over hundreds of meters to the southwest as suggested by altered surface float.

La Dura Underground Drilling Program.

Drilling continues at the historical La Dura underground mine located approximately 6 kilometres west of the Mulatos mine. Samples from 2 drill holes are now currently at the laboratory with assay results for both holes anticipated within the next 1-2 weeks.

Qualified Person

Lorne Warner, P.Geo, President, CEO and Director of the Company is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain "Forward–Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward–looking statements or information. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed Acquisition; and the business and operations of the Company after the proposed Acquisition.

Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Tarachi, future growth potential for Tarachi and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Tarachi's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Tarachi's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements or forward-looking information and Tarachi has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing fluctuations in general macro–economic conditions; fluctuations in securities markets and the market price of Tarachi's common shares; and the factors identified under the caption "Risk Factors" in Tarachi's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or forward-looking information. Although Tarachi has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Tarachi does not intend, and does not assume any obligation, to update these forward–looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

SOURCE Tarachi Gold Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2020/12/c8398.html