Tournigan Gold Corporation: High-Grade Gold Intersects at Curraghinalt
Monday February 16, 7:02 am ET
biz.yahoo.com
VANCOUVER, BRITISH COLUMBIA--Tournigan Gold Corporation ("Tournigan") has intersected an exceptional ore-shoot of high-grade gold mineralization in two diamond drill holes during recent feasibility drilling on the Curraghinalt gold project in Northern Ireland. Drillhole CT-13 returned assay values of 68.07 grams of gold per tonne (g/t) over 3.43 metres, including 183.23 g/t gold over 1.26 metres, and CT-14 returned 42.66 g/t over 4.06 metres, including 103.22 g/t gold over 1.55 metres. In addition, CT-12 included an intercept of 57.16 g/t gold over 1.92 metres in an adjacent ore-shoot. These intercepts are at shallow depths and the ore-shoots are interpreted as open-ended to depth. This high grade area is easily accessible for initial mining and resultant fast payback potential.
These drill holes form part of Tournigan's ongoing feasibility infill drilling at Curraghinalt, designed to advance the project towards a feasibility study and production. Results are summarized as follows:
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Grams
Drill Hole From - to Length per tonne Vein
(metres) (metres) gold
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CT-12 20.37 - 22.29 1.92 57.16 T17C
59.59 - 60.67 1.08 13.7 T11F
144.30 - 145.63 1.33 11.4 106/16
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CT-13 39.59 - 43.02 3.43 68.07 T17 H/W
including 39.59 - 40.85 1.26 183.23 "
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CT-14 42.94 - 47.00 4.06 42.66 T17 H/W
including 44.69 - 47.00 2.32 71.61 "
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Note: Previous estimates of the resource at Curraghinalt have used a
6 g/t gold cut-off grade over a minimum mining width of 1.25
metres.
The feasibility infill drilling program at Curraghinalt is designed to intersect each of the veins at a maximum 30 metre spacing in order to define the vein mineralization in detail and to upgrade the classification of the Curraghinalt resource to the "measured" category. The above results, combined with results from drilling in progress, are expected to provide a significant increase in the contained ounces upon completion of the feasibility resource calculation. The ore-shoot is located directly above an existing underground exploration drift, providing immediate access for mining once production at Curraghinalt is permitted. This will provide a significant early infusion of funds for rapid repayment of capital expenditures.
The CT-13/CT-14 ore shoot is the richest yet found at Curraghinalt, although at least one other ore-shoot of similar grade and thickness was discovered and sampled during the excavation of one of the exploration drifts (see Tournigan press release July 25, 2003). Tournigan expects the discovery of additional high-grade ore-shoots during the course of exploration and development drilling and underground exploration and mine development excavation. The probable repetition of these ore-shoots throughout the Curraghinalt vein system is expected to enhance the already robust preliminary economics of the Curraghinalt deposit. Tournigan's emerging understanding of the regularity and continuity of average-grade, high-grade and bonanza ore-shoots also bodes well for future exploration along the Curraghinalt vein system. Presently documented to extend for at least 8 kilometres, this mineralized trend is within Tournigan's existing prospecting licences.
Tournigan will continue feasibility drilling at Curraghinalt, with another 6 holes currently scheduled. A review of scoping work is almost complete; this will lead to tenders being let for the Curraghinalt Environmental Impact Study. It is Tournigan's goal in 2004 to rapidly advance Curraghinalt toward production.
During 2004, Tournigan also plans a significant exploration and development program at its Kremnica gold project in the Slovak Republic. As reported on February 11, Tournigan has increased the Kremnica resource, which at a 1.0 g/t gold cut-off is as follows:
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Krem- Gold Silver Gold eq.
nica Grade, Grade, Grade, Tonnes Ounces, Ounces, Ounces,
Zone (g/t) (g/t) (g/t) Gold Silver Gold eq.
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Sturec
- Ind-
icated 2.11 15.43 2.31 5,663,941 384,231 2,809,802 421,540
Sturec
- Inf-
erred 2.01 16.06 2.22 8,367,508 540,733 4,320,487 596,968
Wolf 1.48 21.3 1.91 1,715,500 81,600 1,175,000 105,300
Vrati-
slav 3.33 24.7 3.58 595,000 64,000 472,000 73,000
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Tournigan's Quality Assurance/Quality Control Program
Tournigan has implemented a Quality Assurance/Quality Control (QA/QC) program as part of all geochemical sampling, sample shipping and sample analysis procedures, for drilling, rock sampling, and soil and stream sediment sampling programs. QA/QC procedures include chain-of-custody protocol and systematic submittal of blank samples and duplicate samples. Assays reported by Tournigan represent a mix of provisional and final assays by OMAC Laboratories in Ireland, as no significant variance has been noted. The Qualified Person at Curraghinalt is Dr. Kent Ausburn - see Tournigan's press release dated November 5, 2003 for further details.
TOURNIGAN GOLD CORPORATION
Damien Reynolds, President and Chief Executive Officer
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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Contact:
Tournigan Gold Corporation
Damien Reynolds
President
Phone: (604) 683-8320
or
Tournigan Gold Corporation
Garry Stock
Executive VP
Phone: (604) 683-8320
Fax: (604) 683 8340
Email: info@tournigan.com
Website: www.tournigan.com |
