Gelum Completes Further Sampling of Las Tinajas Gold Project, Northern Maricunga Belt, Chile
Rhea-AI Summary
Gelum Resources (OTCQB: GMRCF) reported completion of additional rock geochemical sampling and progress on a property-wide VIP-MT geophysical survey at its 2,600-hectare Las Tinajas Gold Project in the northern Maricunga Belt, Chile. The company collected 403 rock samples across the eastern half of the property, expanding targets at the NE Breccia and SE Anomaly zones. New continuous sampling at the NE Breccia returned 70 m grading 0.17 g/t Au above historical drill intercepts such as 84 m at 0.96 g/t Au in hole TDH-10, while pathfinder elements (As, Zn) indicate potential mineralization beneath thin cover. At the SE Anomaly, anomalous copper and molybdenum values associated with a dacite porphyry plug were extended up to 200 m further south. The geophysical survey is approximately half completed. Gelum also granted 1,100,000 stock options exercisable at $0.90 per share until August 11, 2028.
Positive
- 403 new rock samples collected across east half of Las Tinajas
- NE Breccia sampling returned 70 m at 0.17 g/t Au at surface
- Historical drilling includes interval of 84 m at 0.96 g/t Au (TDH-10)
- Anomalous Cu-Mo zone at SE Anomaly extended up to 200 m south
- Property-wide VIP-MT geophysical survey reported as half completed
Negative
- Surface sampling described as prone to sampling bias and not necessarily indicative of depth mineralization
- Qualified person has not independently verified all historical sampling results
- Grant of 1,100,000 stock options at $0.90 per share may dilute existing shareholders
News Market Reaction – GMRCF
In the Aug 11 session, GMRCF declined 3.03%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Geophysics Survey Half Completed
Vancouver, British Columbia--(Newsfile Corp. - August 11, 2026) - Gelum Resources Ltd. (CSE: GMR) (OTCQB: GMRCF) ("Gelum" or the "Company") reports that it has completed additional rock geochemical sampling at the Las Tinajas Gold Project ("Las Tinajas" or the "Project"), covering 2,600 hectares in the north end of the Maricunga Gold Belt, Chile. Las Tinajas is located 120 km northeast of Copiapó, in the Atacama Region of northern Chile (Figure 1). The work has expanded exploration targets and identified new mineralization where gold and/or copper may occur below thin post-mineral cover.
In addition, the property-wide VIP-MT geophysical survey is now half completed with electrodes installed on the eastern portion of the property.
Henk van Alphen, CEO states that "We knew when we acquired Las Tinajas that there was a serious zone of mineralization, given the past drill results in the middle of the property. However, with the results of the rock chip sampling coming in, and our analysis, the broad extent of drill targets at Las Tinajas is becoming ever clearer. Gelum has a land package that is abundantly endowed with gold and copper targets. Historically there has been a high correlation between soil anomalies and subsurface mineralization, and we look forward to testing this correlation with the new identified anomalies at Las Tinajas."
Figure 1. Location of Las Tinajas in northern Chile, with neighbouring properties shown
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Las Tinajas Summary
Gelum Resources Ltd. is targeting a large epithermal disseminated gold deposit at Las Tinajas, which is located at the north end of the Maricunga Belt in northern Chile, just east of Potrerillos, a renowned gold-copper porphyry district. Gold mineralization is associated with silicified porphyry intrusions and associated diatreme breccias. There is potential for porphyry copper mineralization beneath the epithermal mineralization.
Since 1986, 64 drillholes totaling 10,990 metres have been completed in three campaigns, the most recent being 16 holes totaling 2831 metres in 2024-2025. Multiple historical holes have significant intervals of >1g/t gold, with several ending in ≥1g/t gold.
Only a small portion of the claim block has been drill-tested and there is significant potential to expand the known mineralized centres associated with the diatreme breccia.
Sampling Results
This new work focused on expanding the five-metre continuous rock chip sampling completed in April across the strongest alteration exposed in several road cuts. Gelum collected 403 rock geochemical samples across the east half of the property.
Five-metre continuous sampling along existing road cuts augmented by backhoe pit sampling was completed in two areas: 1) the NE Target, which comprises highly argillic and sericite altered diatreme breccia outcrops above some of the better drill intercepts in the area (Figure 1), and 2) the SE Anomaly, on Cerro Campamento, which is a broad, intense argillic altered zone centred on a dacite plug within the diatreme breccia.
At the NE Breccia (Figure 2), sampling of the road-cut above and 200m east of the previously reported interval (80-metre at 0.22 g/t Au) returned 70m of 0.17 g/t Au. Road cuts farther east and north of this returned weakly anomalous values persisting another 200m in both directions. There are four historical drill holes below the road which returned higher grades (e.g. TDH-10 with 84m of 0.96 g/t Au) than at surface, indicating mineralization is stronger at depth and there is potential for significant blind discoveries below even weak surface mineralization.
The historical soil gold anomalies >300 metres to the north of the drilling are crossed by roads that do not have rock exposure in their cut bank. A backhoe was used to dig 1-3m deep pits to bedrock at 10-25m intervals along the road, with samples collected at the base. Additionally, pits were dug and sampled for 700m northwest of the roads at 25-30m spacing (Figure 3). While gold values were insignificant, gold pathfinder metals arsenic (As) and zinc (Zn) indicate there is mineralization in the area beneath the thin post-mineral cover, and that gold grades may increase at depth. Zinc values are as high as those within the main diatreme breccia, and arsenic shows an increasing trend with values highest at the north end of the sampling, and higher than within the known limit of the main breccia.
At the SE Anomaly (Figure 4), the previous continuous five-metre chip sample intervals were extended south to the end of the roads, and reconnaissance chip samples were collected over argillic altered outcrops farther south. The dacite porphyry plug that forms this ridge has returned highly anomalous copper and molybdenum values, suggestive of a porphyry copper system. The new sampling extended the anomalous copper values a further 200 metres to the south, and molybdenum values 90 metres further south (Figure 4). Reconnaissance samples collected for over 1200m to the southeast over broad (500x800m) argillic and patchy silicic alteration returned elevated Cu-Zn-As values within mostly sedimentary units are evidence of additional epithermal or skarn mineralization at depth. The geophysical survey will be instrumental in understanding the potential of this corner of the property.
Figure 2. Rock sampling over the NE Breccia target: all samples are 5m long unless noted. Drill samples are mostly 1 and 2m.
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Figure 3. Rock sampling over the NE Breccia target: all samples are 5m long unless noted. Drill samples are mostly 1 and 2m.
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Sampling and Assay Methods
Rock samples were collected by chip sampling natural outcrops and road cut exposures continuously as possible across the structural grain in a continuous line, between 2.5 to 5m long, or 1-2m individual samples in backhoe pits. Handheld GPS coordinates and digital photos of the sample bag and outcrop were taken at each sample site and used to verify, to the extent possible, the assay results, sample locations and general geology. No field duplicates or standard reference materials were used as the sampling was for target generation and not resource estimation. The laboratory inserted 1:30 blanks, duplicates, and standard reference material (SRM) for internal QAQC.
Sample bags were stored in rice sacks, secured with zip ties, and delivered to Andes Analytical Assay SPA (AAA) in Copiapó, Chile and analyzed in Santiago. Rocks were dried, 1 kg crushed to
Readers are cautioned that surface sampling results reported here should be viewed primarily as a guidance for future exploration drilling. Surface sampling is prone to sampling bias and is not necessarily a reliable indicator of mineralization at depth. The qualified person for this release has not done sufficient work to independently verify the historical sampling results shown in the figures, but Gelum does consider them current and indicative of future results because they were collected and reviewed by a qualified person.
Figure 4. Rock sampling over the SE Anomaly target: alteration appears to be centred on a dacite plug that is cut by narrow rhyolite dikes. Farther southeast, elevated gold pathfinder elements suggest distal epithermal mineralization.
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Qualified Person
John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis of this news release and has approved the disclosure herein. Mr. Drobe is not independent of the Company as he is a consultant for the Company.
Grant of Stock Options
The Company further reports that pursuant to the Company's Incentive Stock Option Plan, the Company has granted incentive stock options to directors, officers and consultants, to purchase up to an aggregate 1,100,000 common shares in the capital stock of the Company. The options are exercisable on or before August 11, 2028 at a price of
About Gelum Resources Ltd.
Gelum Resources Ltd. is a Company led by experienced management and advisors in the mining and financial sectors.
For further information about the Company, please refer to the Company's website at https://gelumresources.com.
Follow Gelum Resources online in the links below for additional updates:
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On Behalf of the Board of Directors
"Hendrik van Alphen"
Hendrik van Alphen
Chief Executive Officer
For further information, please contact:
Henk van Alphen, Michael Pound or Marla Ritchie
Phone: 604-484-1661 or 604-638-3886
For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This presentation contains forward-looking statements and forward-looking information (collectively, "forward- looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, targeted exploration plans at Las Tinajas; statements regarding any potential increase in shareholder value through the acquisition of undervalued precious metal deposits for development, joint venture or later disposition; the potential for the Company to outline mineral resources at Las Tinajas; comments concerning the economic outlook for the mining industry and the Company's expectations regarding metal prices and production and the appropriate time to acquire precious metal projects; the liquidity and capital resources of the Company; the anticipated content, commencement, timing and cost of exploration programs and anticipated exploration program results and the anticipated business plans and timing of future activities of the Company, are forward looking statements. Forward-looking statements are based on a number of assumptions which may prove incorrect, including, but not limited to, assumptions about the level and volatility of the price of gold; the timing of the receipt of regulatory and governmental approvals; permits and authorizations necessary to implement and carry on the Company's planned exploration programs at its properties; future economic and market conditions; the Company's ability to attract and retain key staff; and the ongoing relations of the Company with local communities and applicable regulatory agencies.
Accordingly, the Company cautions that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ, and such differences may be material, from those set out in the forward-looking statements as a result of, among other factors, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, material adverse changes in economic and market conditions, changes in the regulatory environment and other government actions, fluctuations in commodity prices and exchange rates, the inability of the Company to raise the necessary capital for its ongoing operations, and business and operational risks normal in the mineral exploration, development and mining industries, as well as the risks and uncertainties disclosed in the Company's most recent management discussion and analysis filed with various provincial securities commissions in Canada, available at www.sedarplus.ca. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events except as required by law. All subsequent written or oral forward-looking statements attributable to the Company or any person acting on its behalf are qualified by the cautionary statements herein.
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