Exploration Update on Carol Copper Project, Sonora, Mexico
28 January 2014 - 1:30AM
Business Wire
Tosca Mining Corp. (TSQ-TSX-V) (OTC-TSMNF) (FSE-TQ4) announces
results from recent exploration activity carried out on its Carol
Copper project, located in the State of Sonora, Mexico.
Sonora is Mexico’s most important copper producing state,
accounting for more than 75% of the metals annual output.
The Carol project lies 5 km northeast of the producing Piedras
Verdes mine, Mexico’s third largest copper producer, at more than
70 million lbs per year.
Previous work by past operators identified widespread
polymetallic skarn- style mineralization in a number of areas of
the property, including the Balde Sur target, where 12 trenches
were completed.
Tosca re-opened select portions of two of these trenches, BS-06
and BS-08, to validate past results in preparation for a proposed
drill program. Continuous chip channel sampling, conducted at one
metre intervals, has confirmed the presence of significant
mineralization in both trenches as follows:
Average Grade Trench Width (m)
Cu (%) Ag (g/t)
Zn (%) Au (g/t)
BS-06 8.0 1.06
22.5 11.87
0.26 BS-08 11.0 0.38
22.4 0.48
0.08 and 8.0 0.48
16.5 0.62
0.07
Additionally, two grab samples taken from historic workings
located in the immediate vicinity of trench BS-06 (one to the south
and one to the north) returned significant high grade results as
follows:
Average Grade Sample Width (m)
Cu (%) Ag (g/t)
Zn (%) Au (g/t)
BS-06 N grab 7.00
94.3 34.00
0.61 BS-06 S grab 3.70
30.3 19.00
0.67
These recent results confirm the quality of past work performed
on the property, and will assist in targeting drill holes to
investigate mineralization at depth. No previous drilling has been
carried out on the property.
About the Carol Copper Project
The Carol Copper project covers over 750 hectares and is located
in southern Sonora State, Mexico, approximately 5 km northeast of
the producing Piedras Verdes Copper mine, Mexico’s third largest.
Operated by Cobre del Mayo (SA de CV), the mine produces over 70
million lbs of copper annually, at a cash cost of $1.62 per lb
copper, with an estimated mine life remaining of 17 years (Cobre
del Mayo Presentation October 2013).
At Carol, polymetallic (Cu-Ag-Zn-Au) skarn mineralization has
been outlined in two mineralized zones: one measuring 1,100 metres
by 400 metres and the second 700 metres by 180 metres. Due to
extensive, shallow overburden, the true extent of mineralization is
unknown.
Tosca has the right to acquire a 100% interest in the Carol
project from Alta Vista Ventures (AVV-TSX-V) under an option
agreement further described in its October 14th, 2013 news
release.
A 43-101 technical report on the Carol Project has recently been
filed on SEDAR and can be viewed on the Company’s website at
www.toscamining.com
Samples from Carol were prepared and analyzed by IPL
Inspectorate in their facilities in Mexico and Vancouver,
respectively. Samples generally consisted of 1-3 kg of material.
Gold, silver, copper, lead and zinc were analyzed as part of a
multi-element ICP package using an aqua regia digestion. Over limit
samples with greater than 1% Cu, Pb and Zn were re-analyzed using
ore grade detection limits. Samples with greater than 20% Zn were
re-analyzed a second time for using even higher parameters.
Ian Foreman, P.Geo., president of Alta Vista Ventures and
independent to Tosca, is the Qualified Person, as defined by NI
43-101, for the Carol Project and is responsible for the technical
information in this news release.
On behalf of the Board of Directors,“Ron Shenton”
Neither 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 release.
Statements in this press release, other than
purely historical information, including statements relating to the
Company's future plans and objectives or expected results, may
include forward-looking statements. Forward-looking statements are
based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development.
As a result, actual results may vary materially from those
described in the forward-looking statements.
Tosca Mining CorporationBrian Roberts,
604-687-6562info@toscamining.com
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