NOC:CC - Project Update Taquetren Rio Negro Argentina
(TheNewswire)
Vancouver, British Columbia – TheNewswire - September 19, 2023 - Norseman Silver Inc.(TSXV:NOC) ( OTC:NOCSF) (“ Norseman ” or the “ Company ”) is pleased to announce sampling results and an update on theTaquetren Project, Rio Negro, Argentina.
Phase 1 work at Taquetren, this year includedcompleting seventeen trenches and magnetometry, gradient-array IP andresistivity geophysical surveys. The work was spread across threeprospects, Irma, Martha, and Centro, which are located within 4 km ofeach other.
At Irma, the analytical and field results indicate asheeted complex of gold-bearing, locally discontinuous veinlets andveins covering an area of approximately 1.8 km by 0.5 km, orientednortheast-southwest.
Phase 2 trenching and geophysics to generate drilltargets at Irma and Centro is proposed for Q4 2023.
Highlights:
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Rock chip results: 18.10 Au g/t, 13.43 Au g/t, 12.22 Aug/t, 11.48 Au g/t, and 9.92 Au g/t
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Trench intersections include 5.2 m @ 1.8 g/t Au; 3.4 m@ 3.8 g/t Au; and 3.6m @ 1.0 g/t Au
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Five clear resistivity anomalies are aligned with thevein and structural fabric orientation
Sean D. Hurd, President and CEO, commented:“ Cost-effective,grass-roots exploration has demonstrated widespread gold occurrencesat Taquetren. There is an encouraging mix of high grade gold in veinsas well as mineralization in silicified wallrock and veinlet clusters.A potentially significant NE-SW mineralizing system has beenidentified.
Soil geochemistry and trenching areproving to be good and low-cost exploration tools. In addition, thegeophysical survey identified five large resistivity anomaliesconsistent with buried veining or silicification typical of largeepithermal gold systems seen elsewhere in Argentina. Goldmineralization at Taquetren is variable along strike and further workis needed to vector in on priority targets.
The aim is for Phase 2 work in 2023to define targets that could be drill-tested in 2024. Additionaltrenching will focus on in-fill work. Extra geophysics could help todefine a depth component to the five main resistivityanomalies.”
Taquetren, Rio Negro, Argentina
The Taquetren project encompasses an area of close to59,000 hectares (Ha) and is located in the Navidad-Calcatreau MiningDistrict, in SW Rio Negro Province, and approximately 30 km north ofChubut Province (see Figure 1, below). Accessed by high quality andwell maintained paved and gravel roads. This under-explored districthosts several deposits, including Navidad, one of the largest silverdeposits in the world (M&I: 632M Oz Ag contained in 155.2 Mt @ 127g/t Ag, 0.85% Pb, 0.05% Cu, 150 g/t Ag Eq).
Taquetren covers 58,667 hectares in six separateprospecting permits (Cateos). Most of the workto date has been focused on Cateos 1-4. Cateos 5 and 6 are more recentadditions to the portfolio.
Work Summary
Initial reconnaissance mapping and sampling generatedpriority areas for follow-up work. The best results came from an areaof long low hills where three prospects named Irma, Centro, and Marthahave been defined. The area is characterized by thin soil cover (20-40cm) and little oxidation of the underlying rock. Irma is poorlyexposed and the extent of mineralization is gradually being revealedby systematic exploration. In 2011 a nearby volcanic eruption deposited ash in the region. Accumulations ofash (10-30 cm) remain in areas sheltered from the wind.
Robust rock chip and soil geochemistry results, andgeological mapping, outline clear zones of anomalous mineralization.Subsequent activity included geological mapping, trenching andmagnetometry, gradient array IP and resistivity geophysicalsurveys.
Geology
The main geological formations mapped at TaquetrenProject are calc-alkaline components of the Jurassic TaquetrenFormation. The dominant lithologies are andesites, intercalated withrhyolites and ignimbrites.
In the southwest of the area, the Gastre Fault systemtraverses Taquetren in a northwesterly direction (see Figure 2,below). The Gastre fault system is a major or first-order crustalstructure that hosts the Navidad silver deposit 120 km to thesoutheast. In the Taquetren project area a second-order structuralfault system oriented to the northeast is evident. Gold-pyrite quartzveins, veinlets, and geophysical and geochemical anomalies arepreferentially aligned northeast-southwest. The adjacent Calcatreaugold deposit is controlled by similar NE-SW oriented second-orderstructures.
At Irma, gold mineralization corresponds to a system ofseveral veins and subparallel veinlets trending NE-SW predominantlyhosted in andesites. In places the veining is intense, resemblingstockwork zones. The veins are discontinuous in grade, length andthickness but the anomalous zone as a whole covers an areaapproximately 1.8 km long by 0.5 km wide.
At Martha, there is evidence of a buriedlow-sulfidation epithermal system. Weak gold and arsenic anomalism insoil geochemistry are spatially related to rhyolitic domes andignimbritic flows. There is silicification visible at surface, andnotable rock float with well-defined lattice bladed textures that mayrepresent the boiling zone of a typical epithermal system.
Stream Sediment and Rock ChipSampling Program
Since 2021, a total of 270 stream sediment or soilsamples and 565 rock chip samples have been taken (see Figures 3 and4, below). The best results are clustered in the western area ofCoiron 3, and into Coiron 2 and Coiron 4. Notable rock chip resultsfrom veins sampled in the Irma prospect area include samples grading,18.10 Au g/t, 13.43 Au g/t, 12.22 Au g/t, 11.48 Au g/t, and 9.92 Aug/t (see Figure 5, below). Regional sampling is ongoing.
| Figure 3: Taquetren soil sample results (Au) |
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Figure 4: Taquetren rock chip results (Au) |
Trenching
In 2023, seventeen trenches were excavated and sampledat Taquetren. Fifteen trenches were dug at Irma (shown below), and onetrench each at Martha and Centro.
At Irma the assay results from trenching showed thegold values were highly variable at a local level but relativelyconsistent across the wider geochemical anomalies. In some instances,veins were uncovered in the trench (approximately 1 m below surface)which were not apparent in initial surface mapping. Elsewhere, veinsvisible at surface do not project to depth. For example, in trench T7there was no vein at a point where only 4 m away a 20 cm vein atsurface returned values of 18.28 g/t Au, and 7.83 g/t Au. Furtheralong trench T7, a 35 cm wide vein returned 29.54 g/t Au with noevidence of veining on the surface.
Table 1. Trench results
| Trench |
| Intersection |
| Comment |
| Note on Trench Location |
| Length (m) |
| Au g/t |
| Pb % |
| T01 |
| 5.2 |
| 1.80 |
| Including 1.00 m @ 4.37 g/t Au |
| Soil anomaly (163ppb Au) |
| Including 0.90 m @ 5.2 g/t Au |
| T02 |
| 2.5 |
| 0.22 |
| Soil samples of 7ppb and 4 ppb Au. 30 m from aQtz vein subcrop (0.5 m @3.13 g/t Au) |
| T03 |
| 2.2 |
| 0.94 |
| Including 0.40 m @ 4.61 g/t Au |
| Soil anomaly (77 ppb and 23 ppb Au) 1 m from a Qtz vein subcrop(0.4m @ 11.0 g/t Au) |
| T04 |
| 0.1 |
| 13.43 |
| 1 m from a Qtz vein subcrop and calcite (0.2m @4.08 g/t Au) |
| 1.5 |
| 0.21 |
| 3.1 |
| 0.51 |
| T05 |
| 0.6 |
| 0.12 |
| 3 m from a Qtz veinsubcrop (0.1m @0.28 g/n Au). Soil anomaly (23ppb Au) |
| 0.6 |
| 0.12 |
| 0.4 |
| 0.13 |
| 0.4 |
| 0.13 |
| T06 |
| 3.6 |
| 1.06 |
| 10 m from a Qtz vein subcrop (0.2m @2.46 g/t Au) |
| T07 |
| 3.4 |
| 3.84 |
| Including 0.35 m @ 29.54 g/t A u |
| 5 m from a Qtz vein subcrop (0.2m @18.28 g/t Au) Soil anomaly (21 ppb Au) |
| Including 0.45 m @ 4.08 g/t Au |
| T08 |
| 0.5 |
| 0.22 |
| On a Qtz vein subcrop 0.5 m inwidth |
| T09 |
| 3.0 |
| 1.41 |
| 0.8 |
| Including 0.60 m @ 4.84 g/t Au |
| 1 m from a Qtz vein subcrop (0.9m @6.58 g/t Au) |
| T10 |
| 1.9 |
| 0.45 |
| 1 m from a Qtz vein subcrop (1.0m@0.87g/t Au) |
| T11 |
| 0.5 |
| 2.82 |
| Area with quartz float upto 10 cm in size . |
| T12 |
| 0.7 |
| 1.20 |
| Oxidised veinlet swarm 2 m width. (0.2 m@12.22 g/t Au) |
| T13 |
| 0.5 |
| 1.12 |
| Area with quartz float upto 5 cm in size and calciteveins upto 10 cm wide . |
| T14 |
| 0.4 |
| 1.02 |
| 2.56 |
| 10 m from a Qtz veinsubcrop (0.3 m@0.39 g/t Au) |
| T15 |
| No significant values |
| 15 m from a Qtz vein ‘VetaJuan’ |
| T16 |
| No significant values |
| 40 m from a Qtz vein ‘Veta Nueva’ – Martha Prospect |
| T17 |
| No significant values |
| Centro Prospect |
Multi-element assay results of arsenic and lead arealso highly variable on a local level, reinforcing the erratic natureof mineralization at Taquetren. Gold is sometimes correlated witharsenic values, however in other cases it is correlated with leadvalues. Copper, zinc, and silver values are generallyinsignificant.
Another interesting feature is the presence ofmineralization found in small quartz veinlets (3-10 mm wide). Theveinlets are associated with chloritic and argillic alteration, andwith a significant degree of oxidation (presumably from pyrite). Whenabundant these fine veinlets form swarms and are mapped as a vein set.Occasionally silicified wall-rock material exhibits goldmineralization without abundant quartz veinlets.
The trenching at Martha did not replicate the resultsthat were previously reported in high grade copper grab samples. Nosignificant values were encountered in trenches at Martha or Centroprospects.
Full trench results are shown in Table 1, above.
Geophysics
Quantec Geoscience Limited was contracted to carry outgeophysical surveys at the Taquetren project. The work included 192.95line kilometers of magnetometry and 99.10 line kilometers ofgradient-array IP and resistivity.
At Irma and Centro several sub-parallel, planar areasof high resistivity were encountered. The location and orientation ofthe anomalies broadly corresponds with the main area of veining andveinlet development. See Figure 7, below. The resistivity highs areinterpreted to represent zones of silicification at depth, eitherconcentrated into quartz veins or present as a wider zone ofsilicification.
The magnetometry survey shows lows in the Martha zonein the Total Field and Reduction to Pole results. The magnetic lowsmay represent magnetite destruction caused by hydrothermal fluid-flow.When coupled with the arsenical geochemical signature and the bladedcrystal textures, it is possible to interpret Martha as the upper partof a low-sulfidation epithermal system. See Figure 8, below.
| Figure 8. Taquetren Total Magnetic (left) and Reduction to Pole(right) Maps |
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Discussion of Results and WorkPlan
The work to date shows that there are widespread goldoccurrences at Taquetren over a large area. A potentially significantNE-SW mineralizing system has been identified. Soil geochemistry andtrenching are proving to be good and low-cost exploration tools.
The large resistivity anomalies coincident with themain mineralizing trend suggest that there is a buried component tothe mineral system that warrants further investigation. The Quantecgeophysicists noted that the strength of the resistivity anomalieswere comparable with the anomalies seen in the Santa Cruz epithermaldeposits of Argentina.
It was concluded that the mineralization in the Irmaarea constitutes a sub-cropping sub-parallel swarm of quartzveins(lets) trending NE-SW. The veins and veinlets are discontinuousin grade, length and thickness, but there are many gold occurrences inthe area. The mineralizing system is approximately 1.8 km long by 0.5km wide and warrants further investigation. Martha is a lower-prioritytarget area potentially representing a buried low-sulfidationepithermal system. Centro is an additional target area, with a strongresistivity anomaly.
Norseman Silver has designed a Phase 2 work plan thatcould start in October. The main aim of the Phase 2 work plan would beto vector in and generate priority drill targets. A further suite oftrenches is proposed, mostly at Irma. A pole-dipole IP survey may becarried out over the main resistivity anomalies to help define thedepth component to the anomalies. In addition, regional work wouldcontinue to ensure systematic exploration is carried out across theentire Taquetren project area.
Quality Assurance and Quality Control
As part of the QA/QC process, blanks and duplicate samples areinserted into the sample chain at the base camp and sample storagesite located in the city of Ing. Jacobacci, Rio Negro province. Fromthe base camp, all samples are transported securely by land throughthe company’s truck and submitted by the company’s staff to theAlex Stewart International Argentina S.A. laboratory in the city ofMendoza, Argentina. Samples are dried, weighed, crushed to 70% passing-2mm, split to 250g pulps then crushed to 85% passing minus 75microns. Samples are dissolved with four- acid digestion and analyzedby ICP-MS, with gold by Fire Assay (AA Finish). Laboratory internalQA/QC samples (blanks, duplicates and certified standards) are alsoinserted in the sample stream during the laboratory analyticalprocess.
Qualified Person
The technical information in this news release was reviewed by ReneVictorino, P. Geo., a qualified person as defined under NationalInstrument 43-101 (NI 43-101).
About Norseman Silver
Norseman Silver is focused on acquiring, exploring and developingsilver assets with upside potential in the Americas. The Company’scurrent property portfolio includes the Cariboo, Silver Vista, SilverSwitchback and projects, located in a prolific region in centralBritish Columbia, Canada, and the Taquetren silver project, located inRio Negro, Argentina. Norseman Silver’s shares are listed on the TSXVenture Exchange under the symbol NOC and on the OTCQB under thesymbol NOCSF. Learn more about Norseman Silver at www.norsemansilver.com .
This press release does not constitute an offer to sell or asolicitation of an offer to buy any of the securities in the UnitedStates. The securities have not been and will not be registered underthe United States Securities Act of 1933, as amended, or any statesecurities laws and may not be offered or sold within the UnitedStates or to or for the account or benefit of a U.S. person (asdefined in Regulation S under the United States Securities Act) unlessregistered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration is available.
On behalf of Norseman Silver Inc.
Sean Hurd
President and CEO
For further information, please contact:
Sean Hurd President and CEO
+1 604-505-4554
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