Press Release
Reyna Gold Reports 8.68 g/t Gold, 0.56% Copper and 64 g/t Silver Sample from El Sombrero Target, Outlines Expanded Drill Program and Adds Peter Jones to The Board
Apr. 13, 2022
April 13th 2022 - Vancouver and Hong Kong - Reyna Gold Corp. (TSXV: REYG. OTCQB: REYGF) (“Reyna” or the “Company”) is pleased to announce multiple high-grade Gold, Copper and Silver channel and dump sample results from the El Sombrero target on its 24,215 hectare La Gloria Property in Sonora, Mexico.
Reyna has started drilling at El Sombrero and expanded the number of planned holes from an initial 10 to now 22 holes in the El Sombrero target as part of its ongoing 10,000-meter drill program, which now comprises of a total of 36 holes. Additionally, the company is delighted to welcome Peter Jones to the Board of Directors. Mr Jones was the founder and CEO of Hudbay Minerals and is currently the Chairman of Reyna Silver.
El Sombrero Sample Highlights
- Sample 240835 - 8.68 grams per tonne (g/t) Gold, 0.56% Copper, 64 g/t Silver, 0.42% Lead and 0.1% Zinc
- Sample 240841 - 8.17 g/t Gold, 0.34% Copper, 49 g/t Silver and 0.12% Lead
- Sample 240803 - 2.84 g/t Gold, 36 g/t Silver, 0.35% Lead, 0.18% Zinc and 0.17% Copper
Figure 1: Sample Highlights and Proposed Drill Holes within Southwest Corner of El Sombrero.
“It is encouraging to be getting high Gold grade samples in El Sombrero similar to the Main Zone. Additionally, it is very good news to be getting strong Copper, Silver, Lead and Zinc grades, which confirms what the geological team interpreted that the El Sombrero area includes at least 3 different stages of mineralization.” Commented Ariel Navarro VP Exploration Reyna Gold.
This emerging target area within the southwest corner of El Sombrero, directly north of the Main Zone area is a very positive development in the current exploration plan to expand out from Main Zone initially into El Sombrero. Multiple veins have been mapped at surface most notably the La Nacional Vein 485 meters (m) in length, El Caballo 480m in length and El Sombrero 460m in length. These three veins are the targets of the initial 14 drill holes in El Sombero (Figure 1). The geological team also believes the La Nacional and El Sombrero veins continue under cover on the regional northwest trend, as small outcrops of quartz veins have been identified, with the same characteristics and mineralization as the El Sombrero and La Nacional veins, and may extend up to one kilometer in length. The veins are running on the regional trend northwest/southeast, parallel to the regional Carneros Fault.
“El Sombrero has never previously been drilled, there are a number of historic mines from Spanish times and the team has identified extensive veining at surface. El Sombrero is the second of our eleven-target areas to be drilled and expands the footprint of our initial drill program to around 2,000 hectares/20 sq km. Our initial focus is going to be on the southwest corner of El Sombrero directly north of the Main Zone, where we now have a strong area of interest stretching around 3km in length.” said Michael Wood CEO of Reyna Gold.
Figure 2: Completed and Pending Drill Holes within Main Zone and El Sombrero.
Drilling Update
Reyna has now completed 16 holes for a total of 2,010m of drilling, including the first two in El Sombrero and anticipates to release first batch of drill results imminently. Reyna has completed an initial 14 holes in the Main Zone two more than initially planned, with additional holes drilled in Pique Viejo. It is now commencing on an initial 22 holes in El Sombrero (Figure 2) for total of 36 holes approximately 3,700m.
Peter Jones Joins Board of Directors
Reyna is pleased to welcome Peter Jones to the Board of Directors. Mr. Jones brings over 20 years of experience as a senior executive in the mining industry and enriches Reyna’s team with a wealth of experience in the capital markets. He was instrumental in the development and transformation of HudBay Minerals Inc. ("HudBay") and its predecessor, Hudson Bay Mining and Smelting Company, Ltd. ("HBMS"). As the CEO of HudBay, in 2004 he orchestrated the company's initial public offering and acquisition of HBMS from Anglo American. Mr. Jones oversaw HudBay's emergence until 2008, and its turnaround after re-joining in 2009. Previously, he was CEO of HBMS (2002-2004). He currently is the Chairman of Reyna Silver Corp. He graduated from the Camborne School of Mines in the U.K., is a Professional Engineer in Canada, served as Chairman of the Mining Association of Canada for several years, and was awarded the Turnaround Entrepreneur of the Year, Prairie Region by Ernst and Young in 2006.
Highlights Table El Sombrero
Results have been received for 39 samples from the El Sombrero area, the results below in the highlights table are all from the El Sombrero Vein with results pending from La Nacional and El Caballo Veins. The selective samples are from dumps from previous mining operations at the El Sombrero and La Nacional mine.
The full list of 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
About Reyna Gold Corp.
Reyna Gold is a gold exploration company focused on district-scale exploration on two major gold belts in Mexico, a prolific, low cost, easily permittable jurisdiction. 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 with existing infrastructure in place. The Company has an experienced management team with a proven track record of wealth creation in Mexico through project discovery, advancement and monetization. Reyna Gold shares are listed on the Toronto Venture Exchange under the symbol “REYG” and on the OTCQB under the symbol “REYGF”. Further information about Reyna gold and its projects can be found on www.reynagold.com
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 further sampling work and planned drill program. 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.