Rob McEwen's Tone Resources Commences Drilling
Tone Resources Limited
(the "Company")
2244 West 32nd Street
Vancouver, B.C. Canada V6L 2B2
Toll Free: 1-888-737-2454 Tel: (604) 263-5614 Fax: (604) 263-8415
Website: www.ToneResources.com
January 24, 2006 Trading Symbol: TNS/TSXV
PRESS RELEASE – TONE RESOURCES COMMENCES DRILLING GOLD BAR NORTH PROJECT LOCATED ON THE BATTLE MTN – EUREKA (“CORTEZ”) TREND
Scott D. Baxter, President and CEO of Tone Resources Limited (“the Company”), is pleased to announce the drilling of the Company’s Gold Bar North Project commencing today. The Project is located to the north and on strike with Atlas’ Gold Bar gold deposit on the Battle Mtn – Eureka (“Cortez”) Trend.
The Company’s Gold Bar North project located 6 to 9 kilometers north-northwest of Atlas’ Gold Bar mine. The Company’s Gold Bar North (GBN) claim group comprised of 19 claims staked in September, 2003 is one of several claim groups controlled by the Company located in the Kobeh Valley region on the “Cortez” Trend.
Four sites have been permitted to provide multiple tests of a Carlin-style sedimentary-hosted gold deposit discovery opportunity. The targets are largely based on a gravity survey and report provided by Wright Geophysics, Inc. in January, 2005.
Comments from the Wright Geophysics Inc. report include: “Most obvious in the (regional) gravity data is the strong linear trend connecting the Cortez and Gold Bar deposits. Along this trend are a number of gold deposits. Indeed, this alignment of deposits defines the BATTLE MTN – EUREKA gold trend.” “At both (Atlas’) Gold Bar and the (Gold Bar North) property, prominent gravity highs occur well removed from the range front.” “…north-northwest trending structures at Gold Bar extend across Kobeh Valley directly into the property.” Jim Wright also noted, “The Gold Bar deposits and the (Gold Bar North) property have similar relationships to intrusive bodies. As noted, this is a desirable situation for gold mineralization.” “ The gravity over the property is robust exhibiting a dynamic range exceeding 10 mgals. Two gravity highs are noted which produce extreme gradients. Structural offsets juxtaposing strongly contrasting densities are indicated.”
Field conditions of rain and unseasonably warm weather has slowed the process of site preparation and access to the sites with a drill in order to test the prospective north-northwest linear structural zone indicated by the “extreme (gravity) gradients.”
Tone Resources seeks out, acquires, and explores gold opportunities in the north-central region of Nevada. Including the Gold Bar North property, the Company currently has eight projects located within the major gold trends of north-central Nevada.
16,401,632 SHARES OUTSTANDING
The above is subject to regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
Scott Baxter, President
Contact: Scott Baxter, President, Email: scott.baxter@shaw.ca
North America Toll Free: 1-888-737-2454, Tel: 604-263-5614, Fax: 604-263-5610
Website: www.ToneResources.com
DC Mathewson, Vice President of Exploration for Tone Resources Ltd, pursuant to provision to national policy 43-101 who has reviewed the contents is the qualified person for the Company, a professional geologist registered in the state of California (# 4024), and former Manager of Exploration for Newmont Mining Company’s Great Basin and Carlin Trend exploration programs between 1994 and 2001.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. |
