With spring just few days away interesting to see developments in Alaska this season. Gold in TNR Gold TNR.v for a long time was connected to Shotgun discovery:
Recent news on Nova Gold NG.to moving forward its development on Donlin Creek are very encouraging for Alaska miners. Last year vote on Gold vs Salmon brought stable political environment for mining developments, Pebble is moving forward by Northern Dinasty NDM.to as well. Gold pushing 1000 level is the fuel to overcome relatively high cost in the area, Majors are looking for elephant deposits which could replenish exhausted resources.
Company has announced package of its assets in a subsidiary Bristol Explorations Co. Crash last year was not the best time to realise value of these assets, move this time will be important: whether management will be able to secure strong partners for J/V. Assets are worth in this market only when other people are ready to pay for them and substantial money must be spend to develop them.
September 17, 2008Transfer Of Alaskan Properties To New Subsidiary
TNR Gold Corp. ("TNR,") is pleased to announce the incorporation of Bristol Explorations Co., Inc. ("Bristol"), a wholly owned US subsidiary. Bristol was incorporated in the state of Alaska and has obtained 100% of TNRs properties in Alaska which include the Iliamna project and the Shotgun project.Bristol will focus on developing and exploring the Iliamna, Shotgun, and various Alaskan ventures. They have completed a $75,000 geochemical sampling program on Iliamna and results are pending. This survey is deep looking and designed to be used in conjunction with existing geophysics for drill targeting.TNR believes this new corporate structure will allow them to deliver enhanced shareholder value and focus on mineral exploration in Argentina and other areas of interest in South America. It will also allow them to participate in future developments in Alaska with its interest in Bristol, especially given the recent interest in the Iliamna region.This news release has been prepared under the supervision of John Harrop, P.Geo, TNR's qualified person on this news release.SHOTGUN PROPERTYThe Shotgun project is located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in Southwestern Alaska, an area emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun project includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. (See www.novagold.net) The Company believes that there are several key similarities between prospects in the Shotgun area and that of the Donlin Creek gold deposit as well as other intrusion-associated deposits.In July 2006, TNR announced 210.5 metres of 1.29 g/t Au at Shotgun Ridge, which led to the identification of a feeder zone and leaves the mineralization open at depth.TNR has earned a 50% interest from NovaGold Resources Inc. in the Shotgun project. To date there has been 4,095 metres of drilling at Shotgun Ridge and 1,653 metres at Winchester.Previous work at Shotgun Ridge by NovaGold Resources Inc. has estimated a historical resource of 980,000 ounces grading 0.93 gram per tonne (g/t) at a cut-off of 0.5 g/t (National Instrument 43-101non-compliant resources).The geology and style of mineralization at Shotgun is very similar to the Dome area of the Donlin deposit.ILIAMNA PROPERTYThe Iliamna property is a claim in Alaska covering 412 sq km of land approximately 100km from the highly-visible Pebble deposit held by Northern Dynasty Minerals Ltd. The Pebble deposit contains an indicated mineral resource of 31 million ounces of gold and 18.8 billion pounds of copper, making it one of the world's largest deposits of its kind. Initial target definition at Pebble occurred in areas covered by glacial overburden and/or Tertiary volcanic rocks, as is the case at the Iliamna Project. In 2000, Rio Algom carried out several phased exploration programs including an airborne magnetic survey, reconnaissance geology, and IP/Resistivity surveys. These surveys led to the successful identification of several geophysical anomalies, including the Iliamna Project. The airborne magnetic survey successfully outlined three regional anomalies: the Pebble intrusive complex, the Nushagak anomaly, and the Kvichak anomaly, which includes the Iliamna property. Following the regional geophysical programs, site-specific IP/Resistivity Surveys targeted and successfully located several anomalies that are similar in size and characteristics to the Donlin Creek and Pebble deposits, including the Iliamna Project. Subsequent drilling encountered copper-gold mineralization in an intrusive setting at Iliamna's H Claims.A total of 1883.1 metres of drilling have been completed between 2003 and 2006. Some holes intercepted low-grade altered intrusive consistent with that which would be found near the periphery of a mineralized system.ABOUT TNR GOLD CORP.TNR is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 17 properties in Argentina and Alaska. The company's focus over the next 12 months is the exploration and development of its Eureka, El Salto, and El Tapau in Argentina as well as Iliamna and Shotgun projects in Alaska.On behalf of the board,Gary SchellenbergPresident