Karbonate Minerals Corp. Hits Shallow High-Grade Deposits at Their Morona Santiago Project in Ecuador

Karbonate Minerals Corp. has released partial assay results for fourteen holes completed in an area named the Hudson Zone and for a further eleven holes completed in an area named Thumb Ridge at their Morona Santiago project in Ecuador.

The Hudson Zone results included high-grade, near surface intercepts. Highlights were 21.4 metres of 14.5 grams gold of gold per ton from 10.4 metres and 19.9 metres of 18.4 grams of gold per ton starting at 28 metres. Both of these intervals were from drill hole KMC-MS-18-23, which was to the northern point of the zone and very close to where the company carried out some of their inspection tests in 2020 after they had acquired the property.

Oliver Denton, Director of Projects at Karbonate Minerals Corp. stated in a press release that, "Drilling at the Hudson Zone has revealed consistent veining characterized by quartz and sulfide mineralization with broad thicknesses ranging from 10 to 40 meters. Also, we have strong continuity between drill holes, which confirms approximately 100 meters of strike on this promising high-grade zone."

Furthermore, Denton explained that the zone extends along the strike and to depth, with geophysics, surface sampling, and widely spaced drilling suggesting a prospective strike length of at least 300 meters.

Matheson added that the company plans to increase its drill count to eighteen drills, up from fourteen, early next year to ramp-up the drilling at the Hudson Zone and to test other targets along a five-kilometer section at the project.

Initial drilling in the Thumb Ridge zone, on the west side of the project, returned 31.2 metres of 7.28 grams of gold per ton from 27.3 metres and 19.6 metres of 5.61 grams of gold per ton starting at 24.9 metres. In addition, one hole also hit 3.6 metres of 197.8 grams of silver per ton from 19 metres and 2.4 metres of 105.9 grams of silver per ton starting at 68 metres - these are the first high-grade silver intervals from the project with the silver mineralization identified next to the gold-bearing structures. Additional geological work is planned to follow-up on the silver intercepts.

Karbonate Minerals Corp. wholly owns the 485 square kilometer Morona Santiago property.