TARGA ANNOUNCES FINAL PERMITS RECEIVED AND DRILL RIG MOBILIZED TO EL ZANJON GOLD SILVER PROJECT, SANTA CRUZ, ARGENTINA
TARGA ANNOUNCES FINAL PERMITS RECEIVED AND DRILL RIG MOBILIZED TO EL ZANJON GOLD SILVER PROJECT, SANTA CRUZ, ARGENTINA |
| [30-April-2026] |
CSE: TEX | OTCQB: TRGEF | FRA: V6Y VANCOUVER, BC, April 30, 2026 /CNW/ - Targa Exploration Corp. (CSE: TEX) (FRA: V6Y) (OTCQB: TRGEF) ("Targa" or the "Company") today announced that the final water permit has been received from the Santa Cruz Ministry of Energy and Mining's Secretary of State for Water Resources to support a fully funded drill program at its El Zanjon gold silver project in Santa Cruz, Argentina. A crew, led by Targa's local technical services partner Biz Latin Hub S.A. ("BLH"), has begun mobilizing a camp and drill to the road accessible El Zanjon project with drilling expected to commence during the first week of May. Highlights
"With final permits now in hand, we have begun mobilizing the necessary camp, equipment and crews to site," commented Targa CEO, Cameron Tymstra. "Our local partner, Biz Latin Hub, has secured the necessary contractors and will be managing Targa's first drill program at El Zanjon in Santa Cruz, Argentina. Our team is very excited to be testing these high priority targets in such a prolific epithermal gold-silver district." El Zanjon Drill Program The goal of the El Zanjon drill program is to search for low-sulphidation epithermal gold-silver systems similar to those that host the Cerro Vanguardia mine, located 30km north of the project. Targa's team believes there is strong potential at El Zanjon to find geological and structural conditions similar to Cerro Vanguardia based on existing geophysical and geochemical data. This maiden drill program will begin testing that theory by targeting the confluence of elevated gold and silver values seen in the soil geochemistry with interpreted structures from ground magnetic and magneto telluric data previously collected by Rugby Resources (See Rugby news release from May 15, 2023). The first nine holes of Targa's program will target the northeastern area of interest with three drill fences consisting of two holes each and one drill fence of three holes. Drill holes are planned for a depth of between 200 and 250m. Two holes will also be used to test targets in the northwestern area of interest. All of these targets show elevated gold-in-soil values above interpreted structures. Bedrock on the project is covered with tertiary sediment. This cover is anticipated to be between 30 and 50m in thickness in the target areas.
New Corporate Secretary Targa is also pleased to announce the appointment of Susy Horna to the role of Corporate Secretary, effective May 1st. Originally from Peru, Susy brings numerous years of experience in the legal aspects of the mining, oil and gas and shipping industries. Prior to joining Targa Exploration, Susy served as Manager, Corporate Records and Governance for First Majestic Silver Corp., and prior to the acquisition by First Majestic Silver Corp. as Corporate Secretary of Gatos Silver, Inc. Susy has also served as Corporate Secretary for various public and private companies within the Augusta Group of Companies, and as paralegal for Pacific Northwest LNG, Seaspan Corporation and Southwestern Resources Corp., where she was responsible for diverse matters relating to corporate and securities law, in particular, corporate governance and continuous disclosure. The Company would like to sincerely thank outgoing Corporate Secretary, Jen Hanson, for the professionalism, experience, and wisdom she has brought to Targa over the past few years and for helping to build Targa's strong foundations as a public company. About Biz Latin Hub Known locally as Empresa Minera Biz Latin Hub S.A., BLH is a privately owned company. Two of BLH's principals include Fernando Chacon and Diego Gargano, both professional Argentinian geologists with decades of mineral exploration and project management experience throughout Argentina. Mr. Chacon and Mr. Gargano have been retained by Targa to manage the El Zanjon drill program. The mineral concessions and permits that make up the El Zanjon project are currently held in the name of BLH. BLH is a party to the underlying option agreement for the El Zanjon project (see option agreement details in press release dated November 10, 2025). Technical Disclosure The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Lorne Warner, P.Geo., VP of Exploration of Targa, who is a "qualified person" within the meaning of National Instrument 43 -101- Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Warner is responsible for the technical content of this news release. Mr. Warner is not independent of the Company. The results disclosed in this news release related to exploration work conducted by Rugby Resources on the El Zanjon. The Company has not completed sufficient work to verify these results in accordance with NI 43-101 standards, and such results should not be relied upon without additional verification. About Targa Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian exploration company engaged in the acquisition, exploration, and development of gold mineral properties with headquarters in Vancouver, British Columbia. The Company's focus is on early-stage projects in premier mining jurisdictions with strong potential for making Tier 1 grass roots precious metals discoveries. Targa's principal asset is its Opinaca gold project in Quebec where wide-spread gold mineralization was recently discovered during a maiden drill campaign in 2025. The Company has also recently acquired options to earn up to 80% equity interests in the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina. Website: www.targaexploration.com SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "proposed", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: start of drilling programs; and the exploration and development of the Company's properties. Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Targa, future payments and other obligations, agreements, acquisitions and re-organization of Targa and its affiliates, future growth potential for Targa and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; costs of exploration and development; the viability and accuracy of reported exploration results; the estimated costs of development of exploration projects; Targa's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms. These statements reflect Targa's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and Targa has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: price volatility of gold and other metals; risks associated with the conduct of the Company's mineral exploration activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Targa's management discussion and analysis and other public disclosure documents. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although Targa has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Targa does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Targa Exploration Corp. | ||
Company Codes: CNSX:TEX,Frankfurt:V6Y,OTC-PINK:TRGEF,OTC-QB:TRGEF |
