Golden Tag Receives Approval to Quadruple Number of Drill Pads on San Diego Project
05 October 2021 - 10:30PM
Golden Tag Resources Ltd. (“
Golden Tag” or the
"
Company") (TSX.V: GOG) (OTCQB: GTAGF) has
received approval from the Mexican federal authority, Secretaria de
Medio Ambiente y Recursos Naturales (“Semarnat”), for the
construction of 41 additional drill pads on the San Diego Project,
increasing the total number of permissible pads to 55 on the
Company’s 100% owned San Diego Project, located in Durango, Mexico
(Figure 1). The new permit is valid for a period of 4 years.
Greg McKenzie, President and CEO commented:
"Quadrupling the number of potential drill setups demonstrates our
conviction in the potential to add significant mineralization to
our existing resource base in a cost-effective manner and will
enable the Company to effectively follow up on the successes from
the current program. It will also allow us to better determine the
full extent of the geologic endowment at the San Diego Project.
Major Drilling has retained most of their key equipment onsite and
is expected to mobilize a drill to the project in October
2021.”
Review by Qualified Person
The scientific and technical information in this
document has been reviewed and approved by Bruce Robbins, P.Geo., a
Qualified Person as defined by National Instrument 43-101.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Toronto based
mineral resource exploration company. The Company holds a 100%
interest, subject to a 2% NSR, in the San Diego Project, in
Durango, Mexico. The San Diego property is among the largest
undeveloped silver assets in Mexico and is located within the
prolific Velardeña Mining District. Velardeña hosts several mines
having produced silver, zinc, lead and gold for over 100 years. For
more information regarding the San Diego property please visit our
website at www.goldentag.ca. For additional
information, please contact:
Greg McKenzie, President & CEOPh:
416-504-2020Email: info@goldentag.cawww.goldentag.ca
Cautionary Statement:
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release. Certain statements in this news release are
forward-looking and involve a number of risks and uncertainties.
Such forward-looking statements are within the meaning of the
phrase ‘forward-looking information’ in the Canadian Securities
Administrators’ National Instrument 51-102 – Continuous Disclosure
Obligations. Forward-looking statements are not comprised of
historical facts. Forward-looking statements include estimates and
statements that describe the Company’s future plans, objectives or
goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this
news release includes, but is not limited to, statements regarding
the effects of the Company’s future exploration program, expansion
of the known mineralized zones, ability to obtain a drill onsite,
further improvements in mineralization, continuity or grades.
Factors that could cause actual results to differ materially from
such forward-looking information include, but are not limited to:
the ability to predict and counteract the effects of COVID-19 on
the business of the Company, including but not limited to the
effects of COVID-19 on the price of commodities, capital market
conditions, restriction on labour and international travel and
supply chains; failure to identify mineral resources; failure to
convert estimated mineral resources to reserves; the inability to
complete a feasibility study which recommends a production
decision; the preliminary nature of metallurgical test results;
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals; political risks; changes
in equity markets; uncertainties relating to the availability and
costs of financing needed in the future; the inability of the
Company to budget and manage its liquidity in light of the failure
to obtain additional financing; inflation; changes in exchange
rates; fluctuations in commodity prices; delays in the development
of projects; capital, operating and reclamation costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry; and those risks set
out in the Company’s public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d97c7a7b-3223-452f-a6a3-becdc404ee52
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