November 1st 2022 – Vancouver and Hong Kong – Reyna Gold Corp. (TSXV: REYG. OTCQB: REYGF) (“Reyna” or the “Company”) is pleased to announce more results from the ongoing district-scale exploration at its 24,215 hectare La Gloria Property in Sonora, Mexico. Results are returning high-grade gold, silver and copper samples from multiple mineralized zones that align with geophysical anomalies, silica alterations and structural controls on the property.
Sample Highlights (Details in Tables 1-4):
- La Republicana
- 56.90 g/t Gold and 15.90 g/t Silver
- 21.00 g/t Gold and 47.30 g/t Silver
- 17.85 g/t Gold and 38.20 g/t Silver
- 16.45 g/t Gold
- 8.03 g/t Gold, 44.70 g/t Silver and 0.25% Lead
- 6.23 g/t Gold
- 4.03 g/t Gold, 41.20 g/t Silver and 0.49% Lead
- 2.41% Copper and 13.40 g/t Silver
- Las Carmelitas
- 2.25% Copper, 67.10 g/t Silver and 0.11 g/t Gold
- 2.09% Copper, 116.00 g/t Silver, 0.30 g/t Gold and 0.12% Zinc
- 1.75% Copper, 81.90 g/t Silver and 0.13% Zinc
- 1.87% Copper
- 1.62% Copper and 91.30 g/t Silver
- 1.53% Copper and 94.70 g/t Silver
- 10.52 g/t Gold
- Western
- 16.60 g/t Gold with 249.00 g/t Silver with 0.81% Lead
- 6.00 g/t Gold
- 4.06 g/t Gold
- 3.88 g/t Gold
- 3.42 g/t Gold
- 2.51 g/t Gold
- 1.15% Copper, 3.38% Zinc, 1.29% Lead, 20.7 g/t Silver and 0.10 g/t Gold
- El Sombrero
- 23.60 g/t Gold
- 19.65 g/t Gold
- 8.33 g/t Gold
- 8.08 g/t Gold, 149.00 g/t silver, 0.89% Copper, 0.66% Lead and 0.1% Zinc
- 4.25 g/t Gold, 733.00 g/t Silver, 3.60% Copper, 0.16% Lead and 0.12% Zinc
- 1.46 g/t Gold, 226.00 g/t Silver, 1.39% Copper, 1.44% Lead and 0.15% Zinc
- 1.10 g/t Gold, 548.00 g/t Silver, 0.68% Copper, 0.70% Lead and 0.11% Zinc
“We are using a geoscientific exploration approach that is continually working on the property. We have identified a number of very large geophysical anomalies (Figure 1) that tie in with large silica alternations (Figure 5) that our initial drilling and geochemical sampling work show are coinciding with high-grade gold, silver and copper mineralization. These anomalies are mainly covered and as a consequence have never been explored, presenting us with very large unexplored targets that we know are hosting mineralization from multiple orogenic and intrusive related events across an 8,000 hectares (80 sq km) area. It is very exciting to see our exploration approach continuing to uncover more and more mineralization on the property,” said Michael Wood CEO of Reyna Gold.
Figure 1. MAG Survey Second Vertical Derivative Interpretation
La Republicana Target
At the La Republicana target, where drill hole LG-22-030 produced 59 m of 1.45 g/t gold (see Press Release 7th September 2022), 414 rock samples have now been taken with an average grade of 1.3 g/t gold.
A main target system at La Republicana has been explored, covering 270 hectares (outlined in Figure 2) in meta-rhyolite and meta-andesite host rocks which the technical team is finding heavily fractured and foliated, making them a favorable host rock for mineralization. Higher-grade gold samples, including 103.50 g/t and 56.90 g/t gold, have been obtained northwest from the initial drilling, and copper has been identified in numerous parts of the target with grades up to 2.41% copper. A secondary target system is also developing in the western part of La Republicana. This western system has a different mineralogical assemblage to the main area, which indicates temperatures and depths of formation greater than those observed in the main area of La Republicana.
Figure 2. La Republicana Target
“We have evidence of multiple mineral systems of both orogenic and intrusive-related mineralization at La Gloria. The latter being evidenced by the presence of minerals produced from intrusive related events, such as magnetite, bornite, tourmaline, biotite, and potassic-feldspar. In addition, we are finding grades of copper and silver that are higher than those typical of orogenic mineralization. This is a great sign as the major deposits on the Mojave-Sonora Megashear have multiple mineral systems combining both orogenic and intrusive-related mineralization,” said Ariel Navarro, VP Exploration of Reyna Gold.
Western Target
We have received the first samples from the Western target zone where at least one vein system is developing in a northeast-southwest direction, with a length so far of 933 m long and up to 300 m wide. We have received back 308 rock samples with grades up to 16.60 g/t gold and an average gold grade of 0.32 g/t gold, with 22 samples above 1 g/t gold. There are also samples with good grades of up to 1.15% copper, 249.00 g/t silver, 3.38% zinc and 1.29% lead.
Figure 3. Western Target
Las Carmelitas Target
We have received the initial sample results from Las Carmelitas with a number of samples containing high-grade mineralization with copper grades up to 2.25%, gold grades up to 10.85 g/t and silver grades up to 116.00 g/t.
The technical team is very excited about the unique high-grade geochemical assemblage of Antimony (Sb) – Mercury (Hg) – Barium (Ba) – Strontium (Sr) that is present at Las Carmelitas. The high grade of these minerals along with a large silica alteration identified at Las Carmelitas from the satellite imaging (Figure 5), which has been confirmed by the presence of heavily silicified rocks in the field and the presence of known silicified breccias identified by drilling close-by in Main Zone, is indicating that we are in the upper part of the orogenic gold system and presents the opportunity we could be looking at a hot spring style deposit.
Las Carmelitas also has the presence of chalcocite, which is a high-grade copper mineral. Chalcocite has been identified in veins and disseminated in the host rocks at Las Carmelitas.
Figure 4. Las Carmelitas Target
Next Steps
A comprehensive structural survey has been concluded, interpretation and modeling of the data are currently underway. Induced Polarization (IP) geophysics is now being conducted and will be completed at four target zones La Republicana, Western, Las Carmelitas and Main Zone.
With the break in drilling while the structural study and IP surveys are completed, it has freed up the entire geological team for field work and they are uncovering a number of new targets, showing the extent of mineralization on the property. We are now focusing on an area of around 8,000 hectares (80 sq km), as outlined in Figures 1 and 5, where we know we have multiple mineral systems of both orogenic and intrusive-related mineralization. After completion of the IP geophysical survey, drilling will recommence in this area focused on La Republicana, Western, Las Carmelitas and Main Zone targets.
Figure 5: Mineral Alteration with Geochemical Samples and Major Structures
Surface Samples Highlights
Table 1 – La Republicana
Table 2 – Western
Table 3 – El Sombrero
Table 4 – Las Carmelitas
The full list of sample assays may be found here (Ctrl + Click to open the link) on Reyna Gold’s website reynagold.com.
Michael Wood
Chief Executive Officer
For Further Information, Please Contact:
Reyna Gold Corp.
Michael Wood, Chief Executive Officer
[email protected]; www.reynagold.com
About Reyna Gold Corp.
Reyna Gold Corp. is a gold exploration company focused on district-scale exploration on two major gold belts in Mexico. The Company has a portfolio of assets on the Mojave-Sonora Megashear and the Sierra Madre Gold and Silver Belt consisting of over 57,000 hectares/ 570 sq km. The Company has an experienced management team with a proven track record of wealth creation in Mexico through project discovery, advancement and monetization. La Gloria the Flagship project is 24,215 hectares/242 sq km on the prolific Mojave-Sonora Megashear, where over 35million ounces of gold have been discovered.
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.
Qualified Person
Steve Robertson has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Mr. Robertson has a B.Sc. in Geology and more than 30 years of relevant experience exploring in the North American Cordillera. He is a Registered Professional Geoscientist (Reg. 21201) with the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Robertson is not independent as he is on the board of directors of Reyna Gold Corp. Mr. Robertson is satisfied that the results are verified based on a review of the field program details, imagery data, a review of the sampling procedures, sample results, the credentials of the professionals completing the work and the nature of the gold mineralization in a well-known district for the style of mineralization.
QA/QC Statement
The surface samples are delivered to the internationally certified ALS Minerals laboratory facilities in Hermosillo City where the samples are prepared and shipped to Vancouver, Canada for analysis. Assaying is done by ALS in Canada under an ISO 1702 Quality management system. Samples are fire assayed for Au (Au-AA24) and analyzed for multi-elements using method code ME-ICP41+ ME-MS42 (only to analyze tellurium), following an aqua regia digestion. Over limits are analyzed using the most appropriate method. Multi-element geochemical standards, blanks, and duplicates are inserted systematically into the rock sampling series to monitor lab performance. The control samples are inserted into each 20 samples in the case of standards, blanks, and duplicates, and for rejects and pulps duplicates each 30 samples intercalated. Referent to the chain of custody the samples are transported from the La Gloria project to the camp in Caborca City and then to ALS Chemex in Hermosillo City, by Reyna Gold personnel
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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to anticipated timing and results of the Company’s drill programs. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final long form non-offering prospectus dated December 6, 2021 available for review on the Company’s profile at www.sedar.com. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
