TNR Gold drills 0.75 m of 9.15 g/t Au at El Tapau
2009-01-06 17:45 ET - News Release
Mr. Ike Osmani reports
TNR GOLD ANNOUNCES EL TAPAU DRILL RESULTS
TNR Gold Corp. has provided assay results from six diamond drill holes of the 2008 exploration program on its El Tapau project in Argentina. TNR drilled seven exploratory drill holes, totalling 1,958.70 metres, to evaluate the porphyry copper and gold potential on the property. Results from the first drill hole (ET08-01) reported in Stockwatch on Sept. 22, 2008, included 0.49 per cent copper over 82.25 metres, including 0.54 per cent copper over 72.80 metres and 0.87 per cent copper over 33.65 metres.
Of the seven drill holes (ET08-01 to ET08-07), two holes (ET08-01 and ET08-02) were drilled in the northeastern, four holes (ET08-04, 05, 06 and 07) in the west-central and one hole (ET08-03) in the southeastern parts of the property. The holes targeted areas of both historically known and newly targeted areas of base and precious metal mineralization identified by TNR in its 2007/2008 exploration program (three-dimensional induced polarization survey, mapping/prospecting and rock/soil geochemical sampling). While reading this news release please refer to the company's property map that can be viewed at the company's website.
Drill hole ET08-02 was collared (azimuth 0.0 degree, dip 70 degree) into granodiorite proximal to a smaller quartz-tourmaline breccia pipe and drilled to a depth of 200 metres. From zero to 65.40 metres depth, the drill hole intersected alternating granodiorite and quartz-tourmaline breccia zones and continued mainly through granodiorite open at depth. The best mineralization was intersected over 13.7 metres (38.40 m to 52.10 m), yielding 0.201 per cent copper and 0.001 per cent molybdenum. The mineralization that is primarily associated with pyrite, chalcocite and chalcopyrite occurs predominantly within the granodiorite but also mineralized along the contact with quartz-tourmaline breccia. The strong copper showing in both drill holes ET08-01 and 02 are suggestive of a potentially significant copper target in the northeastern part of the property. Additional evidence in support of the potential of this area is that the past-producing San Francisco des Los Andes mine (copper-bismuth-gold), located 4.5 kilometres south within the southeastern part of the property, occurs in a litho-tectonic setting similar to the breccia pipes in the northeastern part of the property. Both these breccia pipe hosted zones of copper mineralization are on strike to each other along a north-south-trending faulted corridor. These mineralized breccias are geologically similar to famous deposits in northern Chile such as Rio Blanco-Los Bronces deposit, which hosts 6.99 billion tonnes at 0.75 per cent copper, 0.018 per cent molybdenum and 0.035 gram per tonne gold. There remains several untested breccia pipes, similar to those encountered in drill holes 1 and 2, along the 4.5-kilometre north-south fault corridor.
The four drill holes (ET08-04, 05, 06 and 07) drilled in the west-central part of the property targeted a series of east- to east-northeast-striking, narrow and closely spaced auriferous quartz-vein systems over a 2.5-square-kilometre area. Previous prospecting and systematic bedrock sampling in this area produced values ranging from trace to 19 g/t gold, averaging 2.2 g/t gold, from 157 sample sites. All four holes intersected similar gold structures and values that were observed on surface. The best mineralization was intersected by drill hole ET08-04, which returned values of 9.15 g/t gold and 78.98 g/t silver over 0.75 metre, and 2.03 g/t gold and 24.45 g/t silver over 1.90 metres. These values are also accompanied with strongly anomalous lead and zinc values. Additional significant gold and silver values returned by other drill holes in the west-central area are 0.60 g/t gold and 3.76 g/t silver over 2.75 metres (ET08-05), 0.52 g/t gold and 4.21 g/t silver over 1.60 metres (ET08-06), and 0.21 g/t gold and 31.58 g/t silver over 1.30 metres (ET 08-07).
Drill hole ET08-03, drilled in the southeastern part of the property, did not reach its targeted depth due to poor ground conditions and yielded no significant base or precious metal values.
Selected intercepts representing the best base and precious metals values in the five additional drill holes from the northeast and west-central property areas are in the tables.
NORTHEASTERN PROPERTY
DDH From To Width Copper Molybdenum
No. (m) (m) (m) (%) (%)
ET0802 38.40 52.10 13.70 0.201 0.001
Includes 43.20 47.20 4.00 0.30 0.0005
WEST-CENTRAL PROPERTY
DDH From To Width Gold Silver Copper Lead Zinc
No. (m) (m) (m) (g/t) (g/t) (%) (%) (%)
ET0804 27.50 29.00 1.50 0.11 4.88 0.030 0.310 0.210
100.7 101.7 1.00 0.36 5.32 0.015 0.120 0.210
127.45 128.2 0.75 9.15 78.98 0.226 0.466 0.065
193.30 194.1 0.80 0.16 17.70 0.022 0.538 0.580
201.00 201.8 0.80 0.09 48.40 0.086 0.435 0.373
295.40 297.3 1.90 2.03 24.45 0.060 0.820 0.359
ET0805 91.90 94.65 2.75 0.60 3.76 0.009 0.087 0.140
ET0806 23.00 24.60 1.60 0.52 4.21 0.007 0.256 0.038
36.60 38.10 1.50 0.22 0.73 0.012 0.016 0.052
50.00 50.65 0.65 0.12 10.82 0.053 0.230 0.078
98.70 100.35 1.65 0.20 12.36 0.046 0.079 0.191
ET0807 127.70 129.00 1.30 0.21 31.58 0.016 0.180 0.161
The company is very encouraged by these results from its first reconnaissance drill program. It has extended the prospective copper-gold breccia zone to over a 4.5-kilometre strike length and intersected precious-metal-bearing structures in all four holes targeted at the gold zone.
TNR Gold holds an option to earn up to 70-per-cent interest in the El Tapau project and has negotiated a two-month extension on its option payment originally due Dec. 10, 2008, which is now due Feb. 10, 2009.
This news release has been prepared under the supervision of Ike Osmani, PGeo, TNR's qualified person on this news release.
The El Tapau property
The El Tapau copper-gold property, occurring within the eastern Andes of the San Juan province, is strategically located approximately 50 kilometres north-northwest of TNR's El Salto property. El Tapau has had historic gold and copper production from numerous underground workings. However, complete records do not exist regarding quantities and grades.
The current drill program was meant to test auriferous vein/stockwork targets in the west-central and the porphyry copper in the northeastern parts of the property.
We seek Safe Harbor.
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