Soma Gold receives Psyche 2 drill permits at Machuca

Executive Summary

• Soma Gold Corp. has commenced Phase 1 drilling at the Psyche 2 copper anomaly on its Machuca project in Antioquia, Colombia, following the issuance of drill permits by the Colombian government.
• The drilling program aims to determine the source of a significant copper anomaly coincident with a prominent magnetic high and radiometric low, which is interpreted to be controlled by the Otu fault system.
• Phase 1 consists of approximately 2,000 metres of drilling across four to five holes at the northern end of the anomaly, with results expected to guide future exploration along the 4.5-kilometre strike length.

Key Details

• Drilling Commencement: A drill rig has been mobilized to the first drill pad at the northern end of the Psyche 2 copper anomaly.
• Geological Context: The anomaly is located near the Otu fault and is interpreted to be controlled by associated higher-order structures. It coincides with a prominent magnetic high and a distinct radiometric low.
• Geophysical Data: A 3-D inversion by Convolutions Geoscience constrained the depth extent of the magnetic anomaly, showing it is fault-bounded along eastern and western margins and extends to depth. Soil anomalies directly overlie the subcrop extent of the magnetic body.
• Phase 1 Scope: The program targets a cluster of soil samples at the northern end of the anomaly, which comprise some of the most anomalous values of six index elements.
• Drilling Metrics: Phase 1 will consist of four to five drill holes for a total of approximately 2,000 metres of drilling.
• Strategic Importance: Fresh drill core is critical to resolving the cause of the copper anomaly and determining the style, tenor, and host rock of mineralization. Results will determine the approach to the remainder of the 4.5-kilometre strike length.
• Future Exploration Plans:
  • Drilling will continue in 2026 at high-grade gold targets near the Colossa mine and the Aurum-Orion-Eros area.
  • Soil sampling will focus on extending the Psyche 1 soil grid to the southeast.
  • Airborne geophysics identified another area with coincident magnetic-high/radiometric-low anomalies southeast of the Psyche 1 grid that were not tested by the 2024 soil sampling program.
• Regional Geology: The Otu fault system extends over 100 kilometres. Soma's tenements cover more than 56 kilometres of this strike length. High-grade gold deposits have been identified along the entire length, hosted in brittle-ductile to brittle quartz veins. Notable mines in the district include Segovia-Remedios, La Aurora, El Limon, Le Ye, Los Mangos, and Cordero.
• Company Operations: Soma Gold owns two adjacent mining properties in Antioquia with a combined milling capacity of 675 tonnes per day (permitted for 1,400 tonnes per day). The El Bagre mill is currently operating and producing. Internally generated funds are financing the regional exploration program.
• Other Assets: The company owns an exploration property near Tucuma, Para state, Brazil, currently under option to Ero Copper Corp.

Notable Quotes

• Chris Buchanan, Vice-President of Exploration: "We are happy to be able to start drilling on the copper anomaly before the end of the year. The cause of the anomaly has been the centre of debate on the exploration team, and fresh drill core will help determine the style and tenor of mineralization and the type of host rock in the core of the magnetic anomaly. The results of phase 1 drilling will determine our approach to the remainder of the 4.5-kilometre strike length of the copper anomaly."