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Telson Mining Corporation (“Telson” or the “Company” (TSX-V, OTC Pink-SOHFF, Frankfurt-TSGN (formerly SQ82)) is pleased to again report significant channel sample assay results from underground mine exploration and development at it’s Tahuehueto Project.
Telson Mining Corporation (“Telson” or the “Company” (TSXV: SOHFF, OTC Pink: SOHFF, Frankfurt-TSGN (formerly SQ82)) is pleased to again report significant channel sample assay results from underground mine exploration and development at it’s Tahuehueto Project, a 1,000 tonne per day gold mine currently in construction and development.
Underground development extending the El Perdido zone northeast has advanced 225 meters from the Level 12 decline exposing new and continuous mineralization that will certainly add new resources and potentially reserves to the project. The first 55 meters of this development was designed to prepare reserves identified by previous drilling for mining, however, the development drift is being extended in mineralization beyond known reserves or resources and to date has exposed an additional 125 meters of continuous mineralization beyond the known drill intersections.
Stope preparation and mining to collect high grade mineralization for stockpiling, shipping and processing at the Atocha Toll Mill has commenced within the newly discovered El Perdido mineralization.
Highlights:
The above assay intervals are the weighted average results from several samples across one channel sample line. Individual samples for each channel line can be viewed on the Company’s web site by following the links provided below.
Figure 2 – El Perdido Development and Exploration Assay Results
Figure 3 – El Perdido Stope Development Assay Results
Table – Development and Stope Channel Assays
Gold Equivalent Calculation: – Metal prices used in US$ – Au $1,204, Ag $14.20, Cu $2.80/lb, Pb $0.91/lb, Zn $1.09/lb
Formulas: 1st calculate a metal factor: for base metals (gold price/31.1 g/Troy oz)/ (base metal price*2.2kg/lb*10) = Base Metal Factor. For Silver Metal Factor = gold price/silver price.
AuEq grade = Gold grade + (Ag grade/Ag Factor) + (Cu grade/Cu Factor) + (Pb grade/ Pb Factor)+ (Zn grade/Zn factor). Investors are cautioned that gold equivalent values fluctuate with metal prices, are in-situ and will not be fully recoverable due to mining dilution, metal recovery loss during processing and final selling terms.
All the channel samples were submitted to SGS De Mexico. S.A. de C.V. independent laboratory located in Durango city Mexico. Assay methods utilized were GE_FAA313 and GE_ICP14B for gold and silver respectively with over-limits followed up with GO_FAG303, Multi-element GE_ICP14B for lead and zinc with over-limits assayed with GO_ICP90Q. Additional detail on assay methodology used can be found on SGS website at https://www.sgs.mx/en/mining
The assays presented above were collected as channel samples from a stope being prepared for production within the El Perdido zone and from underground development extending the El Perdido Zone towards the 800-meter distant Santiago Zone. This major structure is open in all directions and management is confident that new resources will be discovered here with future exploration in the future.
“We are definitely excited about the mineralization we are discovering in the El Perdido development. These results continue to enforce that the El Perdido structure is a main thoroughgoing structure that so far, is strongly mineralized from the Cinco de Mayo zone to the end of the El Perdido development, over an explored length of approximately 2 km,” states Ralph Shearing, President, “Should this mineralization continue to the northeast to connect with the Santiago zone, as our exploration model suggests, we will have at least a 3 km long mineralized structure that is open in all directions to potentially add new resources to the project. I should also point out that this is only one of at least 7 other unexplored mineralized vein structures identified on the project.”
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining company with two Mexican gold, silver and base metal mining projects. Effective May 15, 2018 Telson declared commercial production at its 100% owned Campo Morado Mine, which is currently producing zinc and lead concentrates with gold, silver and copper as by-products.
Telson’s 100% owned Tahuehueto Project, located in north-western Durango State, Mexico is currently in construction development. Pre-production commenced at Tahuehueto in August 2017, currently mining at a rate averaging approximately 100 tonnes per day and shipping ore to a third-party toll mill for processing. Management has a targeted timeline at Tahuehueto to be producing with its own on-site mineral processing plant, with a designed capacity of at least 1,000 tonnes per day by the end of 2019.
Visit: www.telsonmining.com
Qualified Persons
This press release was prepared under the supervision and review of Ralph Shearing, P.Geol., President and Director of Telson Mining Corporation, a Professional Geologist registered in Alberta as a member of the professional association APEGA, and a Qualified Person as defined by NI 43-101.
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P.Geol, President and Director
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company’s properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved, the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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.
Source: www.businesswire.com
