Looks like management is busy with grabbing all land around historical resource of 50 to 60 Mt of 1% Copper. Resource is not compliant with NI43-101 and strategy to "keep it quet" definitely works: you will not be able to buy 5,403.85 Ha of land for 15000USD once first drill will hit mineralisation. Guys have it to Kitco: first time I saw news there today: story is getting interesting...
"TNR SIGNS LETTER OF INTENT ON ADDITIONAL LAND ADJACENT TO EUREKA PROPERTY"
TNR Gold Corp. (“TNR”) is pleased to announce it has signed a letter of intent for a six month option to acquire 100% of an additional 5,403.85 hectares at Eureka, for a one time fee of US$15,000, which if exercised will bring TNR’s holdings to a total of 10,192.34 hectares.
If TNR does not exercise this option by June 1st, 2008 it shall have a right of first refusal on the additional 5,403.85 hectares to June 1st, 2009. The additional ground is adjacent to the original land claim and covers an area of favourable conglomerate rock which hosts the Company’s Eureka project.
EUREKA PROPERTY
Exploration on the project is ongoing for the rest of 2007. The goal of this program is to define precise targets for drilling and trenching for further exploration activity. TNR’s program will include geochemical sampling, geological mapping and geophysical surveys throughout the area. The work will also include re-opening and cleaning out a historical adit located on the property which is presently in progress.
The property contains over 5 km of historic underground workings. In addition, a drill program in the area of the adit will be implemented to test the continuity and extent of the mineralized horizons. Only 70 metres of the 450 metre deep, prospective Eureka formation has been explored to date which leaves much exploration upside potential of the property. In a 2000 report, Minera Peñoles geologically estimated a potential of 50 to 60 Mt @ 1% copper in oxides based on surface workings, trenching, underground sampling and the assumed continuity of the near surface mineralized beds at Eureka (Geological and exploration data and estimates contained herein are taken from historical records that predate NI 43-101 and/or from later reports not intended for use within the jurisdiction of NI 43-101. Although, TNR has no reason to doubt the accuracy of this data, a Qualified Person has not yet verified them. {Chapman 2007-TNR’s NI 43-101 compliant report posted on sedar.com}).
The 10,192.34 hectare Eureka property is located in the northwest corner of Jujuy Province in northern Argentina, near the border with Bolivia. The property is accessible from the provincial capital of San Salvador de Jujuy, approximately 4 hours to the south, and easy access within the property by a series of gravel roads. For further information please visit our website at http://www.tnrgoldcorp.com/
ON BEHALF OF THE BOARD,
“Gary Schellenberg”
Gary Schellenberg
President
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