VANCOUVER, British Columbia, March 13, 2019–Telson Mining Corporation (“Telson” or the “Company”) (TSX Venture – TSN) is pleased to report significant assay results from underground development on the El Creston Zone at its Tahuehueto Mine development and construction Project in Durango State, Mexico.
Tahuehueto underground development within the El Creston Zone (see Figure 1), has returned significant grades over appreciable widths. Channel sampling results received to date are presented below. (see Figure 2& Figure 3) Additional channel sampling have been collected within the El Creston Zone from mineralization exposed during underground development and results will be disclosed when assay results are received by the Company.
|Au (g/t)||Ag (g/t)||Cu %||Pb %||Zn %||AuEq (g/t)|
The above results are the weighted average of a series of samples, generally no more that 1meter in width collected from a continuous channel sample across the mineralized structure. For detailed individual assay results for the above sample widths <click here>.
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)
Antonio Berlanga, CEO, States “These El Creston samples continue to demonstrate the quality of Tahuehueto mineralization and are, in the case of these El Creston samples verifying our reserve base established from previous drilling. In the case of the El Perdido underground development which has extended past the limits of previous drilling, channel sampling results, (as released February Feb 22, 2019) are verifying the continuity of mineralization along the El Perdido structure helping to verify managements assumption that the El Perdido Zone connects with the Santiago Zone on the same structure and if continuously mineralized will allow new exploration along approximately 800 meters of unexplored structure to hopefully add additional resources to the project. Meanwhile underground development and mill construction preparing the mine for our future on-site production continues as recent photos available on our web site demonstrate.”
All the above 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
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. Telson 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 200 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, Q3-Q4 2019.
Metal concentrate deliveries and sales are well underway from both projects.
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P.Geol, President and Director
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. Data verification by Mr. Shearing includes personal inspection of the Campo Morado mine site, reviewing mining facilities, drill core, underground development and discussing work programs and results with geology and mining personnel.
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; timing for the restart of continuous mining operations at the Campo Morado Mine, 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.
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Copyright Business Wire 2019
Source: Business Wire (March 13, 2019 – 3:24 PM EDT)
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