Bocana Resources Corp. Completes Approximately 500 metres of Diamond Drill Testing at the Escala Project in Bolivia
28 September 2023 - 5:17PM
Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1)
("
Bocana" or the "
Company") is
pleased to announce the completion of the first two of nine
proposed diamond drill holes on the Escala area concession in
south-west Bolivia. The Company's inaugural drilling of both NQ and
HQ size cores is expected to take another three weeks to complete
the proposed 2,000 metre program.
Lithologies Observed
The two completed holes tested the southern
flank of a large, induced polarization chargeability anomaly that
is interpolated to be related to a mineralized near surface
porphyry system called Cerro Galapagos. Hydrothermal and intrusion
breccias hosted within a dacitic porphyry have been observed.
Fracture controlled sulphides, mainly pyrite and minor
arsenopyrites as well as magnetite, have also been noted.
Core Sampling Protocols
All drill core samples will be collected under
the supervision of Company employees. Drill cores are transported
from the drill platform to the camp’s logging facility where it
will be geotechnically and geologically logged, photographed, and
split by diamond saw prior to being sampled. Samples will then be
bagged, sealed, and numbered in order to maintain a chain of
custody. Company employees will also insert blank, duplicate and a
certified standard sample in each batch of twenty samples prior to
transportation from the Escala area camp to the ALS Bolivia Ltda.
("ALS") laboratory site in Oruro, Bolivia. ALS
will provide Bocana with sample preparation and analysis services
at its ISO/IEC 17025 accredited facilities. The ALS unit in Oruro
is ISO 9001:2008 and ISO 17025:2005 accredited and ALS has the only
laboratory in South America that has a high number of analytical
methods accredited by ISO IEC 17025; the ALS laboratory also has
the sample preparation stage included in this accreditation.
“We are pleased to have to have the first two
cores completed. If the drilling continues at this pace, we would
estimate completion of this portion of phase I to be within the
next three to four weeks,” commented Timothy J. Turner, Chief
Executive Officer of Bocana.
Qualified Person
Mr. Lorne Warner, P.Geo., is a "Qualified
Person" as defined by National Instrument 43-101. Mr. Warner has
approved the scientific and technical information included in this
news release for dissemination.
About Bocana Resources
Corp.
Bocana is a mineral exploration company focused
on the acquisition, exploration, and development of mineral
properties in South America. Bocana, through its wholly owned
subsidiary, Huiracocha International Service SRL, holds a 100%
working interest in the mineral properties known as the Escala area
concessions located at the Department of Potosi, Sud Lipez
Province, Bolivia as awarded by Comibol.
Contact Information
For more information on Bocana, visit:
https://bocanaresources.com.
For more information or interview
requests, please contact:
Timothy J. Turner – Chief Executive
Officerinfo@bocanaresources.com
Forward-Looking Information
This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information can be identified by words such as:
"intend", "believe", "estimate", "expect", "may", "will",
“approximately”, “planning”, “projected”, “anticipate” and similar
references to future periods. Although Bocana believes that, in
light of the experience of its officers and directors, current
conditions and expected future developments and other factors that
have been considered appropriate, the expectations reflected in
this forward-looking information are reasonable, undue reliance
should not be placed on them because Bocana can give no assurance
that they will prove to be correct. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Bocana, as the case may be, to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; the
actual results of current exploration activities including Phase 1;
results of any sampling and any risks associated with the testing;
risks associated with operation in foreign jurisdictions; ability
to successfully integrate purchased properties or mining rights
awarded; foreign operations risks; and other risks inherent in the
mining industry. Although Bocana has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Readers are cautioned not to
place undue reliance on forward-looking information. Additional
risks include those disclosed in the Information Circular, which
are incorporate herein by reference and are available through SEDAR
at www.sedar.com. The forward-looking statements contained in this
news release are made as of the date hereof, and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements or information, except as required by
law.
This news release is not an offer of the
securities for sale in the United States. The securities described
in this news release have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States or to, or for the account or benefit of, U.S.
persons (as defined in Regulation S under the U.S. Securities Act
of 1933, as amended) absent registration or an exemption from
registration. This news release shall not constitute an offer to
sell or a solicitation of an offer to buy nor shall there be any
sale of the securities in any state in which where such offer,
solicitation or sale would be unlawful.
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 news release.
Bocana Resources (TSXV:BOCA)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Bocana Resources (TSXV:BOCA)
Historical Stock Chart
Von Dez 2023 bis Dez 2024