Golden Tag Provides Update On Strategic Growth Opportunities
TORONTO, July 21, 2020 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. (?Golden Tag? or the "Company") (TSX.V: GOG) is pleased provide an update on the Company?s strategic opportunities and plans for growth. As silver prices continue to rebound, the Company?s 100% owned San Diego Project is well positioned as one of the largest undeveloped silver projects in Mexico, with significant potential for resource expansion.
The San Diego Project?s potential was confirmed by SGS Canada?s view that the 43-101 silver resources could potentially be expanded based on existing structures, as well as lateral and depth extensions ? Managements four key high priority targets include the 1849, Fernandez, Trovador, and Arroyo Zones.
The San Diego project is fully permitted for drilling. A drill program is being designed to be implemented as the silver price continues to recover.
Opportunities are being evaluated including mergers, strategic, corporate or direct project acquisitions in the America?s having a primary focus on silver.
Greg McKenzie, President and CEO commented, "Since taking over leadership of the Company in May 2020 we are pleased to see the share price begin to strengthen, however, we are excited about the tremendous organic and strategic growth opportunities and believe that with the ongoing support of our strong shareholder base Golden Tag is well positioned to capitalize on the continued rebound in silver prices."
Meaningful Organic Growth at the San Diego Project
The 100% owned San Diego project, located in the prolific Velardeña Mining district within Durango, Mexico, is among the largest undeveloped silver assets in Mexico. This district, dominated by Peñoles, S.A.B. de C.V., has hosted silver and base metal mining operations for over 100 years. In 2013, the Company published a 43-101 resource prepared by SGS Canada, as outlined in Table 1 below on the San Diego Project. The resource was based on 33,000 metres of drilling and included mineralization from 23 different zones with strong lateral and vertical continuity. The last phase of drilling on the property was completed in 2012.