02/22/2021 | Press release | Distributed by Public on 02/22/2021 13:18
February 22, 2021, Vanouver,British Columbia-New Tech Minerals Corp. NTM-CSE ('New Tech or the 'Company') is pleased to announce that it has received a Technical Report on its La Escondida silver-gold project, Sonora, Mexico (the 'La Escondida Project').
The report, with an effective date of January 27, 2021, was prepared by Mine Development Associates (MDA), a division of RESPEC, and authored by Steven I. Weiss, PhD., C.P.G., (a qualified person), in accordance with the disclosure and requirements set forth in the CSA's National Instrument 43-101 (NI 43-101) and companion policies. The full report is available on SEDAR and on the company's website www.newtechminerals.ca.
The La Escondida Project is centered on three sub-parallel veins in the range of one to three metres in width, striking roughly east-west and outcrop intermittently for more than 800 metres along strike.
Of the 161 samples collected by New Tech in a 2020 sampling program from veins and waste dumps, 24% assayed from 90-1,150 g/t silver, and taken together with historical data, the author concluded that drilling is merited to test the possibility that high silver grades, potentially economic, may extend down dip and/or laterally from the surface exposures. Wider intervals of mineralization that have been recognized in surface exposures, may be important targets as well.
An initial exploration program, including a total of 2,250 metres of reverse circulation drilling Has been recommended at an estimated cost of USD $364,000.
About La Escondida Project
The La Escondida Project is comprised of three contiguous concessions (total 1200 hectares) located approximately 140 kilometers northeast of Hermosillo, Sonora, Mexico. Historical and recent descriptions of the veins are consistent with a silver-rich epithermal origin, but the project is located within the region of orogenic gold deposits that includes La Herradura, Noche Buena, El Chanate and San Francisco.
Numerous small artisanal workings are present along the east-west trend for over 1,500 metres. Historical rock-chip sampling along the veins and structures returned values of up to 1,893 g/t Ag and up to 5.4 g/t Au.
Mr. Steven I. Weiss, PhD, CPG is the qualified person as defined by NI 43-101 and has reviewed and approved the technical information in this news release.
On behalf of the Board of Directors
'Jonathan George', President & CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to plans for development, and the magnitude and quality, of the La Escondida Project. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties;; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties; (i) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.