Soma Gold Announces High-Grade Gold Intercepts over Significant Vein Widths at Cordero-Balvina Northern Extension

- June 10th, 2020

Soma Gold Corp. (TSXV: SOMA) (the “Company” or “Soma”) is pleased to announce the assays from the first 12 diamond drill holes, representing 3,306 m of the planned 15,000 m of drilling for 2020.

Soma Gold Corp. (TSXV: SOMA) (the “Company” or “Soma”) is pleased to announce the assays from the first 12 diamond drill holes, representing 3,306 m of the planned 15,000 m of drilling for 2020. The program was on the Northern extension of Cordero-Balvina Target, located on its El Bagre Mining Project, which is wholly owned by the Company.

Highlights include:

  • 3.05m at 18.98 g/t Au from 194.90 to 197.95 in BCNDDH_20_011, including
    0.80m at 56.90 g/t Au
  • 1.90m at 13.99 g/t Au from 220.76 to 222.66m in BCNDDH_20_014, including
    0.95m at 23.00 g/t Au
  • 1.80m at 17.65 g/t Au from 240.80 to 242.60m in BCNDDH_20_018
  • 3.70m at 7.33 g/t Au from 203.90 to 207.60m in BCNDDH_20_022

The table below shows all the assays of the 12 drill holes vein intersections:

Table 1

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/3819/57573_84c69ab454db19ac_001full.jpg

The DDH’s were drilled to intersect the vein perpendicularly in order to have the intersection represent, as closely as possible, the true widths. Lengths are drill intersections and not necessarily true widths. Although true widths have not been calculated yet, for comparison purposes, the down-hole lengths presented in this news release are expected to correspond to them.


Fig. 01 – Cross-cutting Drilling Section N1326283

To view an enhanced version of Fig. 01, please visit:
https://orders.newsfilecorp.com/files/3819/57573_84c69ab454db19ac_002full.jpg

Javier Cordova, CEO and President of Soma, states, “The positive drilling results on the northern extension at Cordero-Balvina are a good indication that the resource, as detailed in the NI 43-101 Technical Report on the El Bagre Operations and Nechí Project, Department of Antioquia, Colombia, prepared for Soma, could increase with additional drilling along the mineralization continuity along 500m in strike and 150m down dip. In addition, this extension will be easily accessible via the new mine portal currently under construction. We are very encouraged by the potential for significantly higher-grade material and wider vein widths in this extension.”

ABOUT SOMA GOLD’S EL BAGRE MINING PROJECT:

The underground gold project is located 167km northeast of Medellin, in the Department of Antioquia, within the jurisdiction of Zaragoza and El Bagre municipalities. The El Bagre Underground Gold Operation includes the La Ye and Mangos Gold Mine and the Cordero-Balvina Gold Exploration Project.

 

Fig. 02 – Location Map

To view an enhanced version of Fig. 02, please visit:
https://orders.newsfilecorp.com/files/3819/57573_84c69ab454db19ac_003full.jpg

PROJECT’S GEOLOGY

The La Ye, Mangos and Cordero-Balvina Mines comprise quartz veins hosted in shear zones with fragile-ductile deformation within Carboniferous aged granite rocks of the El Carmen stock. Locally this plutonic body corresponds to a leucocratic tonalite, of medium to coarse grain.

Lode gold type mineralization trending north-northwest to north-northeast consists of milky white quartz containing native gold and up to 20% mixed sulphides, dominated by pyrite with occasional galena, chalcopyrite and tellurides. Sulphides and native gold distribution within the veins is patchy. The veins average approximately one meter in thickness and range from half a meter to four meters in length. Related wall-rock alteration includes haloes of moderate to pervasive sericite ± chlorite and carbonate replacing feldspar within the host intrusive.

QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS

For exploration core drilling, the Company applied its standard protocols for sampling and assaying. NQ drilling core is sawn or split with one-half shipped to a sample preparation laboratory in Medellin run by ALS Colombia Limited (“ALS).

Samples are then shipped for analysis to an ALS-certified assay laboratory in Lima, Peru. Due to COVID.19 contentions, one-half samples were analyzed in La Ye’s internal laboratory. The remainder of the core is stored in a secured storage facility for future assay verification. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance.

Please see the technical report entitled “NI-43-101 Technical Report on The El Bagre Underground Gold Operation and The Nechí Gold Project, Antioquia, Colombia” with an effective date of July 12, 2019 prepared by RPA’s independent “Qualified Persons” (as that term is defined in National Instrument 43-101 (“NI 43-101”) Sean Horan (P. Geo.), Derek Holm (SAIMM), Holger Krutzelmman (P. Eng.) and Gerd Wiatzka (P. Eng.) for information on the QA/QC, analytical and testing procedures at the El Bagre Mining Project.

Copies are available on the Company’s website (www.somagoldcorp.com) or on SEDAR (www.sedar.com).

The laboratory used was ALS Minerals who is independent of the Company.

The geological interpretations in this news release are solely those of the Company’s geological team.

Mr. Paulo J. Andrade, P. Geo., BSc Senior Geologist, VP Exploration for Soma Gold Corporation is the Qualified Person, within the meaning of NI-43-101. Mr. Andrade is satisfied that the analytical procedures and best practices used are standard industry methodologies, and he has reviewed and approved the technical information disclosed in this news release.

ABOUT SOMA GOLD:

Soma is a junior gold mining and exploration company. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. The La Ye mine is currently operating and producing and the El Limon mine and mill are scheduled to begin operating in Q1 2021. Internally generated funds will be used to finance a regional exploration program.

The Company also owns an exploration and development property near Tucuma, Para State, Brazil.

On behalf of the Board of Directors

“Javier Cordova Unda”

Chief Executive Officer and President

For further information, please contact Andrea Laird, telephone: +1-604-259-0302

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 release.

All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.

 

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