INITIAL DRILL RESULTS AND EXPLORATION UPDATE AT MACHUCA PROJECT, ANTIOQUIA, COLOMBIA

Cision Canada

06-05-2025

Highlights:
Orion Mine Channel Samples
CHU100189 [email protected] g/t Au, including [email protected] g/t Au
CHU100191 [email protected] g/t Au, including [email protected] g/t Au
CHU100192 [email protected] g/t Au, including [email protected] g/t Au
Colossa Mine Channel Samples
CHU100100 [email protected] g/t Au, including [email protected] g/t Au
CHU100121 [email protected] g/t Au, including [email protected] g/t Au
CHU201045 [email protected] g/t Au
Drill Core Highlights:
COLDDH-25-006 [email protected] g/t Au, including [email protected] g/t Au
The Psyche 2 target area is a 2.4 km long, northeast-southwest striking trend of mineralized quartz veins, with a width of approximately 300-400 m. The target is located east of the Otú Fault, in a region predominantly underlain by undifferentiated upper-greenschist facies metasedimentary rocks (Figure 2). The rocks are strongly folded, exhibiting north-south-trending axial planes and moderately northeast-plunging fold axes. However, the fold system is only exposed in a few small creek outcrops and remains poorly constrained. The far eastern edge of the property is also poorly exposed but lies over a strong regional magnetic signature that is similar to the Segovia Batholith, which is interpreted as the western contact of the batholith in this area.
Unlike other quartz veins and informal mines along the Otú Fault, these veins have an average orientation of 240 o /43 o, forming a high angle relative to the northerly trending Otú Fault – similar to the orientation of Aris Mining's (TSX: ARIS) El Silencio vein in Segovia. The quartz vein orientation also aligns with a regional lineament trend, suggesting the potential for additional quartz vein-bearing structures along the same trend. Mapping within the informal mines indicates that mineralized quartz veins in this area exhibit two additional orientation sets: east-northeast- and north-striking. In general, the veins dip moderately to the northwest.
The Otú fault system ("Otú Fault") extends for over 100 km, from Segovia-Remedios in the south to Nechi in the north, where it is buried beneath younger sedimentary overlap sequences. Soma's properties now cover over 56 km of this strike length. High-grade gold occurrences have been identified along the entire strike length of the Otú Fault, hosted in brittle-ductile to brittle quartz veins formed during later stages of deformation. Throughout the district, quartz veins display orientation patterns consistent with formation in conjugate faults associated with brittle faulting along the Otú Fault. Notable mines along this trend include Segovia-Remedios, La Aurora, El Limon, Le Ye, Los Mangos, and Cordero. The Machuca Property is located along a critical segment of this regional fault structure and shows numerous indications of high-grade gold mineralization.
Soil Sampling
An extensive soil grid covering the entire trend was completed in early 2025. A total of 884 samples were collected at 50m intervals along lines spaced 200 m apart. Assay results and multi-element geochemistry have been received for 772 samples, with results pending for the remaining 72. High gold-in-soil values define anomalous zones along the entire 1.8 km strike length of the northeast-trending structural zone.
Gold concentrations in the soil samples range from <5 ppb to 3,700 ppb. The 97.5 th percentile values, ranging from 86 ppb to 3,700 ppb, are considered strongly anomalous. The 90 th percentile gold value is 37 ppb. Lower, yet still elevated, gold-in-soil values along the strike of the known quartz veins are interpreted as evidence of continuity of the gold-bearing structures. Table 1 presents the 97.5 th percentile soil sample results across the grid.
Figure 2 displays the gold-in-soil values superimposed on the mapped geology of Psyche 2. Solid and dashed red lines indicate mapped and interpreted vein traces in the area. All informal mines in the region are coincident with a gold-in-soil anomaly. The strike length of these Au anomalies and associated veins ranges from 300 m to 1,000 m. These are considered significant and warrant follow-up prospecting, infill soil sampling, and drilling near the informal mines.
An additional discovery from the soil grid is the distribution of anomalous copper-in-soil samples. Copper concentrations range from 5.7 ppm to 578 ppm. The 97.5 th percentile values range from 360 ppm to 578 ppm, while the 95 th and 90 th percentile values are 295 ppm and 208 ppm, respectively. Table 2 presents the 95 th percentile copper values and highlights a relationship between weakly anomalous gold and zinc values.
Figure 3 displays the copper-in-soil values superimposed on the government's regional airborne magnetic data. The 95 th percentile samples are clustered along the western edge of the grid, forming a north-south trending anomaly with a strike length of approximately two kilometres. This anomaly is located near the Otú Fault and is interpreted to be controlled by associated higher-order structures. The anomalous copper samples also coincide with a prominent magnetic high in the government's airborne survey, which may correspond to a blind intrusive body. Further investigation is warranted.
Soil sampling has identified numerous gold anomalies that require follow-up prospecting and drilling. The copper anomaly is not yet well understood but presents an exciting new target for exploration to determine the geology and tenor of potential copper mineralization. Although it coincides with the magnetic anomaly, the copper remains open to the north and south. Soma recently acquired two additional mineral titles to the north, allowing for the extension of the soil grid to further determine the extent of the copper anomaly and potentially identify new gold anomalies (see news release dated April 10, 2025).
Chris Buchanan, Soma's Vice President of Exploration, stated, "The expanded underground channel sampling and soil sampling programs have identified multiple high-grade gold targets for exploration. The 2.4 km northeast trend of mineralized quartz veins and gold-in-soil anomalies is particularly exciting – especially in light of the recent high-grade drill intercepts. Soma is pleased with the exploration team's continued success in developing drill-ready targets at Psyche 2."
Drilling and Channel Sample Results
Soma's exploration team has been systematically channel sampling underground workings at informal mine sites. Results have been received from four of the mines in the area: Orion, Aurum, Colossa 2, and Colossa. In addition to infill sampling, Soma has initiated a drill program at the Colossa and Colossa 2 mines. Assay results from these programs are presented in the following sections:
Orion Mine
The Orion Mine is located at the northeastern end of the structural trend. The quartz vein mined at this location strikes northeast and dips moderately to the southeast. A total of 31 channel samples, comprised of 68 individual samples, were systematically collected along the exposed vein within the mine. Figure 4 presents a long section of the Orion Mine, showing the location of each sample within the underground workings.
Table 3 presents the composited assay results from the Orion Mine. Gold grades for the composites range from <0.005 g/t to 71.4 g/t. Seventeen composites returned grades greater than 2.0 g/t, including nine exceeding 20 g/t Au. Fifteen channel samples contained sub-intervals of high-grade gold ranging from 7.0 g/t to 118.7 g/t – ten of which qualify as bonanza grade (>20 g/t). Fourteen channel samples returned grades of <2.0 g/t. These sub-economic intervals are interpreted as reflecting the nuggety nature of the gold and sulphide distribution within the veins.
The results from the initial channel sampling at the Orion Mine are highly encouraging. The abundance of high-grade gold samples throughout the mine workings, combined with their coincidence with a high-grade gold-in-soil anomaly, elevates the priority of this prospect. Soma's exploration team continues to prospect and collect soil samples in the surrounding area of the mine to improve delineation of the soil anomaly. The Company anticipates mobilizing a drill to this prospect in the second half of 2025.
Aurum Mine
The Aurum Mine is located approximately 200 m west of the Orion Mine and is centered on an east-northeast striking, moderately northwest-dipping quartz vein. The mine is currently abandoned, and only a small portion could be safely accessed for sampling.
Table 4 presents the composited gold grades from channel samples collected at two locations within the Aurum Mine. The long section shown in Figure 5 indicates the location of these samples inside the mine workings. The tenor of the Aurum quartz vein is lower than that of the Orion vein, with composite gold grade ranging from 1.2 g/t to 2.03 g/t.
Although the results are lower grade, the Aurum Mine still highlights the abundance of mineralized quartz veins within the Psyche 2 target area. The mine is situated within a broad gold-in-soil anomaly and warrants additional exploration work. Soma's exploration team will continue infill soil sampling in conjunction with work at the Orion Mine. The Aurum vein is expected to be drill tested when the drill rig is mobilized to the Orion Mine in the second half of 2025.
Colossa 2
Colossa 2 is an abandoned informal mine located approximately 200 m north of the Colossa Mine. While the site cannot be accessed for mapping and sampling, it is situated near a weak soil anomaly. Due to its proximity to the Colossa Mine and the presence of historical workings, two exploration drill holes were completed down-dip of the mine.
A long section of the drill holes is shown in Figure 6, and assay results for COLDDH-25-006 are presented in Table 5. Drill hole COLDDH-25-007 also intersected a 2.0 m quartz vein (Figure 6), however, assay results for this hole are still pending.
The quartz vein intersected in COLDDH-25-006 returned an average grade of 8.04 g/t Au over 1.3 m, including a 0.6 m sub-interval with a gold grade of 17.39 g/t Au. Although the historical mine workings have not been mapped, this intersection is interpreted to lie approximately 25-50 m down-dip and along strike from the known workings.
Drilling at the Colossa 2 Mine marks the first step in confirming the presence of gold-bearing quartz veins along the 2.4 km structural trend between the Orion and Colossa mines. To date, only 1,772 m of diamond drilling has been completed at the Colossa and Colossa 2 mines. The recent intercept at the Colossa 2 Mine is encouraging, and additional drill holes are currently underway to evaluate the strike and dip extent of the quartz vein.
Colossa Mine
Soma's exploration team has been conducting systematic underground channel sampling and geological mapping at the Colossa Mine. A 2,500 m drill program was initiated at the Colossa and Colossa 2 mines in late 2024, aimed at testing the down-dip and strike extent of the quartz vein at the Colossa Mine. To date, 1,772 m of drilling has been completed, with the results presented below.
The results of the underground channel sampling program are presented in Table 6. A total of 82 channel samples, comprised of 193 individual samples, were collected from across the mine workings. The location of each sample is shown in the long section of the Colossa Mine presented in Figure 7.
The composited gold grades from the Colossa channel samples range from <0.005 g/t Au to 66.3 g/t. Twenty-nine composites returned grades greater than 2.0 g/t, including seven exceeding 10 g/t. Twenty-three of the channel samples contained subintervals of high-grade gold ranging from 6.2 g/t to 136.5 g/t – seven of which qualify as bonanza grade (>20 g/t). Fifty-three channel samples returned grades of <2.0 g/t. These lower-grade intervals are interpreted to reflect the nuggety nature of gold and sulphide distribution within the quartz veins.
A total of five diamond drill holes have been completed at the Colossa Mine. A long section of the drill holes is shown in Figure 7, and assay results are presented in Table 7. Each hole intersected the target structure and encountered quartz veins containing pyrite, sphalerite, and galena (Figure 8). Initial assay results were low grade, so all drill core samples were resubmitted for screen metallic analysis. The screen metallic assays resulted in a modest improvement to the gold values, and these results are reported in this news release (Tables 6 and 7).
Drill core assays from the Colossa Mine range from <0.005 g/t Au to 1.8 g/t Au. The best drill intersection was returned from hole COLDDH-25-005, which yielded 1.3 m at 1.8 g/t Au. Although the quartz vein intercepts were visually compelling, the assay values were significantly lower than expected based on the high-grade channel samples collected from within the mine (Figure 8). However, the channel sample dataset suggests a nuggety gold distribution, which is interpreted to be similarly reflected in the drill core assays. Based on updated geological and structural mapping, Soma's exploration team is currently planning a follow-up drill program at the Colossa Mine.
Soma's exploration team is currently extending the Psyche 2 soil grid to the northwest to cover the recently acquired mineral titles (see news release dated April 10, 2025). In addition, the airborne geophysics and property-scale LiDAR surveys announced in the February 6, 2025 news release have recently commenced. The LiDAR survey began on April 25, 2025, following a weather delay due to heavy rainfall. The geophysical survey is expected to begin on May 7, 2025, once the survey equipment clears Colombian customs.
Table 7: Composited assay results for drill core at the Colossa Mine target
Hole ID
From
(m)
To (m)
Length
(m)
Au Grade
(g/t)
Ag Grade
(g/t)
COLDDH-24-001
99.65
101.15
1.50
B.D.
0.4
COLDDH-25-002
107.30
108.30
1.00
0.2
0.7
COLDDH-25-003
96.25
97.80
1.55
0.4
2.1
COLDDH-25-004
96.00
97.45
1.45
B.D.
0.7
COLDDH-25-005
94.35
96.05
1.70
1.8
3.3
Note:
all intervals are presented as drilled length. True width is approximately 80%-90% of the drill interval.
B.D. idicates a low-grade interval that is below detection (B.D.) limits.
QA/QC Protocols
Channel Samples
Channel samples in Colombia are common in underground mining and are typically used for grade control. The channel samples are marked by a spray-painted line. Individual samples along the channel are broken out based on changes in lithology (e.g., quartz vein vs wall rock). A large plastic sheet is laid out below the sample line, and the sample is chipped with a hammer and chisel. The chips are collected by the underlying plastic sheet and transferred to a sample bag.
Prior to December 2023, all the samples were analyzed by the Operadora mine laboratory, and selected samples were submitted to ALS Laboratory for QA/QC analysis. The samples were crushed, split, and pulverized by the Operadora Mine laboratory. Fifty-gram aliquots of each sample are analyzed for gold using a standard fire-assay with a gravimetric finish.
Since 2023, all exploration samples for Soma Gold have been submitted to ActLabs Medellin for sample preparation fire assay with atomic absorption finish, and multi-element ICP-MS analysis. This is due to renovations of the Operadora mine laboratory for improved health and safety and capacity for increased mine production. Grade control channel samples for the Cordero Mine continue to be processed at the Operadora mine laboratory.
Qualified Person Statement
Mr. Chris Buchanan, P.Geo, is Soma's Vice-President of Exploration and a Qualified Person as defined by National Instrument 43-101. Mr. Buchanan has reviewed the technical information disclosed in this press release.
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (Permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.
With a solid commitment to sustainability and community engagement, Soma Gold Corp. is dedicated to achieving excellence in all aspects of its operations.
The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.
On behalf of the Board of Directors
"Geoff Hampson"
Chief Executive Officer and Chairman
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 release.
All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.
SOURCE Soma Gold Corp.