Toachi Mining Announces Additional High Grade Trench Results Increasing Its VMS Corridor Footprint

 

Toachi Mining Inc., (“Toachi” or the “Company”) (TSX-V:TIM) (OTCQB:TIMGF) is pleased to announce new high grade trenching assay results that extends the known VMS corridor footprint further north including a trench cut assaying 6 meters @ 2.02 g/t Au, 32.50 g/t Ag, 2.34% Cu, 0.79% Pb and 2.59% Zn. These new trenching results are located 150 meters north of the high grade trenching results previously reported by Toachi on January 16^th, 2019.

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Guatuza North Trenching Significant Intercepts

LPTR-18-08* Guatuza: (0.0m – 6.0m) @ 2.02 g/t Au, 32.50 g/t Ag, 2.34% Cu, 0.79% Pb, 2.59% Zn

LPTR-18-13 Guatuza (San Jose): (2.1m – 3.1m) 1m @ 1.08 g/t Au, 44.40 g/t Ag, 0.48% Cu, 1.92% Pb, 7.94% Zn;

LPTR-18-14 Guatuza (San Jose): (0.0m – 3.4m) 3.4m @ 1.15 g/t Au, 24.42 g/t Ag, 0.23% Cu, 1.24% Pb, 4.39% Zn;

• The complete trenching results summary is available at http://www.toachimining.com/projects/technical-reports/ where additional information is described in Table 1 along with plan maps and profile.
• *Based on a 4ppm AuEq cut-off grade, 1m minimum composite length and 1m maximum internal dilution.
• *Channel LPTR-18-08 is cutting the intersected mineralization close to its true width.
• The channels LPTR-18-13 and LPTR-18-14 are perpendicular to the intersected mineralization and structures.
• Moderate to high BLEG (gold) anomalies were also confirmed last week at the Guatuza prospect, La Mina North Block and Aguas Calientes prospect. These BLEG samples were collected in the final quarter of 2018 along the main drainages of these prospects.
• A location map of the new high grade VMS trench intercepts and anomalous BLEG (gold) assay results is shown in Figure 1.

Alain Bureau, President and CEO, stated, "In comparison to the surface expression above the known VMS Horizon at La Mina South and La Mina North, we are encouraged by the geological similarities recently discovered, which bring solid drill ready targets.”

Trenching Assay Results Summary
CHANNEL		FROM (m)		TO (m)		LENGTH (m)		Au (ppm)		Ag (ppm)		Cu (%)		Pb (%)		Zn (%)
LPTR-18-08		0		2		2		1.51		33.80		3.04		0.58		1.33
LPTR-18-08		2		4		2		2.52		32.30		2.35		1.42		4.42
LPTR-18-08		4		6		2		2.04		31.40		1.64		0.37		2.01
LPTR-18-08		6		6.7		0.7		0.68		5.80		0.04		0.07		0.02
LPTR-18-08		6.7		8.7		2		0.50		3.00		0.18		0.07		0.08
LPTR-18-09		0		1		1		0.42		6.10		0.33		0.54		0.01
LPTR-18-09		1		2		1		0.34		2.30		0.43		0.01		0.01
LPTR-18-09		2		3		1		0.42		5.90		0.24		0.02		0.09
LPTR-18-10		0		1.7		1.7		0.37		6.60		0.22		0.07		0.09
LPTR-18-10		1.7		3.2		1.5		1.22		21.90		0.17		0.07		0.08
LPTR-18-11		0		2		2		0.16		1.90		0.03		0.01		0.01
LPTR-18-12		0		0.5		0.5		0.12		1.70		0.05		0.20		0.03
LPTR-18-12		0.5		2.5		2		0.28		2.80		0.02		0.08		0.03
LPTR-18-13		0		2.1		2.1		0.25		16.30		0.10		0.19		0.07
LPTR-18-13		2.1		3.1		1		1.08		44.40		0.48		1.92		7.94
LPTR-18-13		3.1		4.5		1.4		0.67		25.10		0.15		0.54		0.89
LPTR-18-14		0		2		2		1.42		23.60		0.28		0.58		5.12
LPTR-18-14		2		3.4		1.4		0.75		25.60		0.16		2.17		3.35
LPTR-18-15		0		0.5		0.5		0.10		1.80		0.01		0.32		0.25
LPTR-18-15		0.5		1.1		0.6		0.12		0.60		0.01		0.02		0.02
LPTR-18-15		1.1		2.5		1.4		0.48		11.90		0.12		0.53		0.85
LPTR-18-15		2.5		3.4		0.9		1.16		43.40		0.19		2.31		5.59
LPTR-18-16		0		0.45		0.45		1.03		15.70		0.36		0.03		2.87
LPTR-18-16		0.45		1.75		1.3		1.37		16.30		0.07		0.37		0.72
LPTR-18-16		1.75		2.3		0.55		0.28		4.50		0.02		0.39		0.11
LPTR-18-16		2.3		3.5		1.2		0.14		5.50		0.02		2.09		0.03
LPTR-18-17		0		0.5		0.5		1.49		13.00		0.26		0.03		1.52
LPTR-18-17		0.5		1.7		1.2		0.88		5.00		0.05		0.19		0.39
LPTR-18-17		1.7		2.2		0.5		0.29		2.00		0.03		0.24		0.06
LPTR-18-17		2.2		2.65		0.45		0.19		21.50		0.02		0.73		0.02
LPTR-18-17		2.65		4.1		1.45		0.24		13.40		0.03		0.51		0.04

Exploration Program & Vectoring Summary

These new trench assay results continue to confirm and validate the high grade Guatuza VMS corridor and extend it 150 meters further to the north (San Jose prospect). Toachi’s exploration team on the ground is continuing this successful trenching campaign based on the results of the 2018 mapping and prospecting program. Cleaning, mapping and trench channel sampling of VMS mineralised outcrops are continuing with the aim of testing the full northern extent of the Guatuza, San Ramon and San Pablo South VMS corridor targets prior to this year’s proposed exploration drilling program.

During January 2019, continued cleaning of talus and debris covering areas of near surface VMS mineralization was completed in the Open Pit north wall, stream “Quebrada Mala” and in stream “Quebrada Tajo” (please refer to the map available on Toachi’s website). Removal of younger ash fall and lahar cover over Eocene bedrock was continued along the San Ramón stream at the San Pablo South Prospect and in the upper parts of the streams of Quebrada San Jose and Quebrada Andino in the Guatuza zone and in the San Ramon prospects respectively.

Channel sampling was also completed in part of the San Ramon stream in San Pablo South prospect and within the recently cleaned outcrops in the Open pit north wall, Quebrada Mala in the La Mina North block and Quebrada Tajo (east of the open pit) in the southern part of the Guatuza prospect.

QA/QC Sampling Protocols

All trenching intervals have been reported on a minimum composite grade of 4ppm gold equivalent cut-off, 1m minimum composite length using a maximum internal dilution of 1m and provide sampling coverage on a continuous basis. The surface trenching samples with base metal assay results above 1% have been re-assayed using the multi-element ICP-ES, 4 acid digestion analytical method for ore grade assays.

Trenching undertaken by Toachi Mining in 2019 has been supervised by onsite personnel at the project who meticulously collect and track samples, which were then sealed and shipped to MS Analytical in Canada for analysis. The sample preparation was performed by Ecuadorian partner, LAC y Asociados.

Both LAC y Asociados and MSA are ISO 9001:2008 registered companies. MS Analytical also meets the requirements as outlined in ISO/IEC 17025. Analytical accuracy and precision are independently controlled using blanks, control reference material and duplicate samples.

Stream sediment samples were collected and sieved at the sampling site using a 1mm screen. Control duplicate samples were taken at a rate of 1 in 20 samples. The sample material was tagged, packed into a plastic and calico bags, then air dried at the Toachi’s field camp in Palo Quemado. The semi-dry samples were dispatched to LAC y Asociados laboratory in Cuenca, Ecuador and further sieved using the 0.3 mm screen. The sieved <0.3 mm samples were then shipped to Activation Laboratories Ltd. in Canada for BLEG analysis.

Actlabs (Activation Laboratories Ltd), Ancaster is an ISO17025 accredited (Lab 266) by the Standards Council of Canada (SCC) for specific methods listed in the scope of accreditation, available via https://www.scc.ca/en/palcan/137.

The Qualified Person under the NI 43-101 Standards of Disclosure for Mineral Projects for this news release is Michael D Druecker Ph.D., CPG, who has reviewed and approved its contents.

About Toachi Mining Inc.

Toachi brings a disciplined and veteran team of project managers together with one of the industry’s highest grade polymetallic projects at La Plata in Ecuador. Toachi is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities. Toachi Mining has 81,166,435 shares issued and outstanding.

Forward Looking Statements

Certain statements contained in this news release may constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company’s continuous disclosure filings filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

Neither 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.

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