MONTREAL, March 25, 2020 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. (TSX.V: GOG) (the "Company" or “Golden Tag”) wishes to provide an update. The Company is pleased to announce that it is now fully permitted to continue exploration work, including a drill program, on its 100% owned San Diego silver-zinc project in Durango, Mexico. The permitting process included the following measures.
The Company has signed a new 5-year agreement with Ejido San Diego, a Mexican communal municipal governance committee which has stewardship over surface land usage in the property area. The new agreement allows for Golden Tag to conduct all types of exploration activities on its San Diego Property.
Golden Tag has also completed an environmental impact assessment and filed an application for a permit with the Mexican Environmental Agency (SEMARNAT), to drill up to 21 holes at the San Diego Project. The permit was approved by SEMARNAT on March 13, 2020, granting the Company 2.5 years to complete the proposed work.
An initial 2,000-meter drill program comprised of 8 holes has been planned to focus on testing the near-surface continuity of mineralization encountered during prior drill programs in 2 target areas: the Trovador-MS and El Jal-Arroyo Zones. Further information on both areas can be found in the presentation on the Golden Tag website. The Company is uncertain as to the timing for the commencement of work.
The Company’s 100% owned San Diego Project, located in the Velardeña District of Durango Mexico, has been advanced through 6 Phases of drilling which culminated in a resource estimate completed by SGS Canada in 2013. The NI 43-101 Technical Report published in April 2013 as well as further information on the property are available on the Company website www.goldentag.ca.
About Golden Tag Resources
Golden Tag Resources Ltd. is a Montreal based junior exploration company exploring for high-grade silver deposits. The Company holds a 100% interest in the San Diego property in Durango State, Mexico. For more information please visit our website at www.goldentag.ca.
Cautionary Statement: Statements in the release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statements to conform the statements to actual results or changes in our expectations.
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