Multiple High Grade Gold Vein Discovery at El Santo Concession, Nicaragua
27 3월 2014 - 12:53AM
Marketwired Canada
Tango Gold Mines Incorporated (TSX VENTURE:TGV) (the "Company") is pleased to
announce the discovery of several high grade low-sulphidation epithermal quartz
veins, with gold and silver, from preliminary geological reconnaissance and
surface sampling on its 100% owned 2088.8 hectare (ha) El Santo concession,
Nicaragua.
Low-sulphidation epithermal quartz adularia veins, with gold and silver, have
been mapped on the El Santo concession with a structural orientation NE-SW and
are associated with high temperature alteration minerals. Seven veins were
mapped and have six have been named El Pulpito, El Zanjon, La Mexicana, La
Mexicana II, Belgica 1 and 2. Of the 46 chip samples analysed 34 had over 1 gram
per tonne (g/t) gold, 19 had over 4 g/t gold, 7 were over 10 g/t gold and the
highest grade sample was a 3 meter (m) chip sample that returned 748.4 g/t gold
and 409 g/t silver from La Mexicana II vein. A complete summary of all 48-chip
samples can be found in Table 1 and are plotted on Figure 1 and 2. To view the
Figures associated with this press release, please visit the following link:
http://media3.marketwire.com/docs/Figures-TGV.pdf.
The El Santo Concession is located within the Libertad Mining District
approximately 110 kilometers (km) due east of Managua. The Libertad Mining
District covers an area of approximately 150 square km and lies within a broad
belt of Tertiary volcanic rocks. The El Santo vein system discovered is quite
similar geologically to those that occur in the mining districts of Santo
Domingo and La Libertad respectively.
Table 1 - El Santo Assay Data (sorted from high to low gold)
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Chip Sample Width
Sample Number Au g/t Ag g/t (m)
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1 72547 748.4 409 3
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2 72584 30.4 16 4
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3 72558 16.9 9 3.2
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4 72579 16.1 18 6
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5 72586 13.3 11 6
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6 72554 12.6 13 3
----------------------------------------------------------------------------
7 72565 11.9 15 3.2
----------------------------------------------------------------------------
8 72552 8.856 10 2.9
----------------------------------------------------------------------------
9 72578 8.616 77 6
----------------------------------------------------------------------------
10 72549 6.554 218 3
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11 72546 5.991 96 2.8
----------------------------------------------------------------------------
12 72582 5.734 2 6
----------------------------------------------------------------------------
13 72569 5.093 30 2.6
----------------------------------------------------------------------------
14 72545 4.976 30 3
----------------------------------------------------------------------------
15 72587 4.801 22 6
----------------------------------------------------------------------------
16 72557 4.715 3 2.6
----------------------------------------------------------------------------
17 72585 4.713 27 6
----------------------------------------------------------------------------
18 72566 4.708 48 4
----------------------------------------------------------------------------
19 72589 4.545 12 6
----------------------------------------------------------------------------
20 72555 3.388 43 2.95
----------------------------------------------------------------------------
21 72592 3.229 49 6
----------------------------------------------------------------------------
22 72551 2.662 2 3
----------------------------------------------------------------------------
23 72583 2.589 5 6
----------------------------------------------------------------------------
24 72550 2.277 3 2.8
----------------------------------------------------------------------------
25 72553 2.274 4 2.8
----------------------------------------------------------------------------
26 72548 2.079 16 2.8
----------------------------------------------------------------------------
27 72564 1.945 8 3.2
----------------------------------------------------------------------------
28 72570 1.878 less than 2 1.2
----------------------------------------------------------------------------
29 72561 1.877 6 3.1
----------------------------------------------------------------------------
30 72562 1.818 5 3.1
----------------------------------------------------------------------------
31 72581 1.699 less than 2 5
----------------------------------------------------------------------------
32 72576 1.551 10 4
----------------------------------------------------------------------------
33 72567 1.209 12 3.8
----------------------------------------------------------------------------
34 72580 1.209 29 5
----------------------------------------------------------------------------
35 72588 0.926 52 6
----------------------------------------------------------------------------
36 72556 0.898 less than 2 2.8
----------------------------------------------------------------------------
37 72573 0.689 less than 2 1.2
----------------------------------------------------------------------------
38 72563 0.558 less than 2 1.1
----------------------------------------------------------------------------
39 72577 0.493 less than 2 6
----------------------------------------------------------------------------
40 72572 0.092 less than 2 0.93
----------------------------------------------------------------------------
41 72574 0.022 less than 2 1.2
----------------------------------------------------------------------------
42 72568 0.019 less than 2 1.1
----------------------------------------------------------------------------
43 72571 0.012 less than 2 1.2
----------------------------------------------------------------------------
44 72590 0.007 less than 2 6
----------------------------------------------------------------------------
45 72591 0.006 less than 2 6
----------------------------------------------------------------------------
46 72575 0.005 less than 2 1.3
----------------------------------------------------------------------------
Tango has filed an Environmental Impact Assessment report with the appropriate
government authorities and will conduct a follow up assessment program as soon
as possible.
About Tango Gold Mines Incorporated
Tango Gold Mines Incorporated is a TSXV listed Canadian company which holds a
100% interest in the 2,088.8 ha El Santo concession located in central
Nicaragua. El Santo is located immediately south of B2Gold Corp.'s La Libertad
concession that is host to the La Libertad mine and mill complex which is
projected to produce approximately 143,000 to 150,000 ounces of gold in 2014. El
Santo is believed to host several east-west trending, low sulphidation,
epithermal gold and silver in quartz vein systems similar to those found on the
La Libertad concession.
On Behalf of the Board of Directors
Antonio Ponte, CEO and Chairman
Tango Gold Mines Incorporated
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.
This news release contains forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Readers are cautioned that
these forward looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to differ
materially from those expected. The presence of gold deposits mentioned nearby
the Company's property is not indicative of the gold mineralization on the
Company's property. All of the forward-looking statements made in this news
release are qualified by these cautionary statements and those in our continuous
disclosure filings available on SEDAR at www.sedar.com. These forward-looking
statements are made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or circumstances save
as required under applicable securities legislation. This news release does not
constitute an offer to sell securities and the Company is not soliciting an
offer to buy securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction. The technical disclosure in this news
release have been approved by Terry L. Tucker, P.Geo., Director of the Company
and a Qualified Person as defined by National Instrument 43-101 of the Canadian
Securities Administrators.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tango Gold Mines Incorporated
Antonio Ponte
CEO and Chairman
info@tangogoldmines.com
Tango Mining (TSXV:TGV)
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