Another good news: management will not let this one to pass by...Prefeasibility is right under way.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2007) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR - News; PINK SHEETS:TRRXF - News) is pleased to report that Minera Andes Inc. ("MAI"), the operator on the Los Azules property, plans to start its next phase of drilling within 30 days. MAI has also executed a definitive option agreement with Xstrata Copper covering the Los Azules porphyry copper project in San Juan province, Argentina. This information has been derived from a news release issued by MAI, the project operator, on November 14, 2007.
TNR's option with Xstrata consists of approximately 20,000 acres located adjacent to the northern border of MAI's Los Azules property. TNR granted Xstrata Copper an option over 100% of the property, subject to a 25% back-in right in favour of TNR.
Drill results from MAI's 2006 campaign at Los Azules confirmed significant high-grade copper on the property. An 11-hole drill program returned intervals up to 1.62% copper over 221 metres and 1% copper over 173 metres in separate holes, both of which are on the Xstrata optioned property.
Map of the property:
TNR has a 25% back in clause on the property if a feasibility study is completed within 3 years of the exercise of the option, subject to payback of two times the expenditures on the property. If TNR backs in for 5% or less then its interest will convert to a 1% net smelter royalty. TNR maintains a strategic land position in the area."
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