MONTREAL, QUEBEC -- (Marketwire) -- 02/26/13 -- Golden Tag Resources Ltd. (TSX VENTURE: GOG) is pleased to report the Updated Resource Estimate completed by SGS Canada Inc. on the San Diego Deposit located in the Velardena camp in Durango State, Mexico. The property is a 50-50 joint venture between Golden Tag and Golden Minerals Company (NYSE Amex: AUMN)(TSX: AUM). Golden Tag is the operator and is earning an additional 10% interest to a 60% interest by funding additional exploration on the property.
The updated Resource Estimate represents a very significant increase in tonnage over the last Resource Estimate released in January 2009 with a most notable expansion of Indicated Resources that increased from 370,000 tonnes to 16.5 million tonnes (Mt) and Inferred Resources doubling in size from 22 Mt to 42 Mt (Table 1). Silver ounces also increased compared to 2009 and are now 31.6 M oz Ag Indicated and 83.8 M oz Ag Inferred whereas in 2009 Inferred silver ounces were at 76.5 M oz with only 3 M oz in the Indicated category.
Table 1: Summary of Resources in 23 Mineralized Zones on the San Diego Property
----------------------------------------------------------------------------SAN DIEGO RESOURCE ESTIMATE CoG (g/t) Indicated Resources -------------------------------------------------------- Tonnes Au Ag Pb Zn Ag.EQ(2) Ag OzFernandez Zone (Mt) g/t g/t % % g/t (M)----------------------------------------------------------------------------Endoskarn 52(1) 9.3 0.06 55 0.59 1.33 100 16.5 -----------------------------------------------------------------Fringe 52 5.5 0.06 43 0.74 0.89 83 7.6--------------------------------------------------------------------------------------------------------------------------------------------------------Sub-total 14.8 0.06 51 0.65 1.17 94 24.1----------------------------------------------------------------------------Vein & Mantos Zones Indicated Resources----------------------------------------------------------------------------Trovador 52 0.29 0.09 87 0.72 4.15 194 0.81 ---------------------------------------------------------Montanez Z. (3) 125 0.56 0.31 101 1.36 1.43 170 1.82 ---------------------------------------------------------Vein Zones (17) 52 -125 0.53 0.33 108 1.44 1.52 229 2.80 -----------------------------------------------------------------Oxide Zones 133 0.31 0.43 211 1.15 0.9 234 2.11--------------------------------------------------------------------------------------------------------------------------------------------------------Sub-total 1.69 0.30 121 1.24 1.83 204 7.54----------------------------------------------------------------------------TOTAL RESOURCES (Oxide & Sulphide Zones) 16.5 0.08 60 0.71 1.22 105 31.6--------------------------------------------------------------------------------------------------------------------------------------------------------SAN DIEGO RESOURCE ESTIMATE CoG (g/t) Inferred Resources -------------------------------------------------------- Tonnes Au Ag Pb Zn Ag.EQ(2) Ag OzFernandez Zone (Mt) g/t g/t % % g/t (M)----------------------------------------------------------------------------Endoskarn 52(1) 9.6 0.04 57 0.6 1.3 101 17.4 -----------------------------------------------------------------Fringe 52 19.1 0.05 41 0.7 0.97 81 25.1--------------------------------------------------------------------------------------------------------------------------------------------------------Sub-total 28.7 0.05 46 0.7 1.08 88 42.4----------------------------------------------------------------------------Vein & Mantos Zones Inferred Resources----------------------------------------------------------------------------Trovador 52 4.41 0.04 68 0.9 1.55 124 9.6 -----------------------------------------------------------------Montanez Z. (3) 125 1.57 0.18 91 1.5 1.9 174 4.6 -----------------------------------------------------------------Vein Zones (17) 52 -125 7.12 0.14 109 1.7 1.99 200 25.0 -----------------------------------------------------------------Oxide Zones 133 0.29 0.43 238 0.8 0.91 261 2.2--------------------------------------------------------------------------------------------------------------------------------------------------------Sub-total 13.39 0.12 96 1.40 1.81 173 41.4----------------------------------------------------------------------------TOTAL RESOURCES (Oxide & Sulphide Zones) 42.0 0.07 62 0.9 1.31 115 83.8----------------------------------------------------------------------------
