Bocana Resources Corp. Provides an Update on Assay Analysis from the Escala Project in Bolivia and a New Venture
12 January 2024 - 11:00PM
Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1)
("
Bocana" or the "
Company") is a
company focused on the acquisition, exploration, and development of
mineral properties in South America. The Company would like to
provide the following operational updates.
Cerro Galapagos
The Assay results from holes HRC23-01 and
HRC23-02 of the diamond drilling campaign at the Company’s Escala
Project in Southwest Bolivia have been received, compiled, and
reviewed by Bocana personnel. Both holes tested the southern flank
of the Cerro Galapagos, induced polarization-chargeability
anomaly.
The purpose of these holes was to test the
porphyry potential of a large dacitic intrusive. Extensive
hydrothermal alteration and mineralization in the form of pyrite
with trace amounts of arsenopyrite and chalcopyrite were
encountered, however no potentially economic base-precious metal
concentrations were encountered over significant core lengths. The
remaining holes that were drilled will also be analyzed by Bocana
personnel and reported accordingly.
Corporate Update
In conjunction with the work being done at
Escala, Bocana is currently awaiting a commissioned NI 43-101
report through its 100% owned subsidiary Huiracocha Development
Services SRL. The report is part of an in-depth study of a previous
mining operation in Bolivia that still contains extensive
historical insitu, tailings and stockpile resources. Upon
successful completion of the studies and acquisition of the
property the Company plans to immediately commence additional
metallurgical studies in order to begin production operations and
increase gold and silver recoveries and lower production costs
through leaching.
Qualified Person
Mr. Lorne Warner, P.Geo., is a "Qualified
Person" as defined by National Instrument 43-101. Mr. Warner has
approved the scientific and technical information included in this
news release for dissemination.
About Bocana Resources
Corp.
Bocana is a mineral exploration company focused
on the acquisition, exploration, and development of mineral
properties in South America. Bocana, through its wholly owned
subsidiary, Huiracocha International Service SRL, holds a 100%
working interest in the mineral properties known as the Escala area
concessions located at the Department of Potosi, Sud Lipez
Province, Bolivia as awarded by Comibol.
Contact Information
For more information on Bocana, visit:
https://bocanaresources.com.
For more information or interview
requests, please contact:
Timothy J. Turner – Chief Executive
Officerinfo@bocanaresources.com
Forward-Looking Information
This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information can be identified by words such as:
"intend", "believe", "estimate", "expect", "may", "will",
“approximately”, “planning”, “projected”, “anticipate” and similar
references to future periods. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Bocana, as the case may be, to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to this risks described in
Bocana's Information Circular which are incorporate herein by
reference and are available through SEDAR+ at www.sedarplus.ca.
Although Bocana has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Readers are cautioned not to place undue reliance on
forward-looking information. The forward-looking statements
contained in this news release are made as of the date hereof, and
the Company undertakes no obligation to update publicly or revise
any forward-looking statements or information, except as required
by law.
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.
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