Gold and Copper in Argentina: TNR Gold: La Ortiguita Drill Program Expanded 60% tnr.v, lma.to, grc.to, ngq.to, rvm.to, mgn, auy, slw, cuu.v, lun.to, gbn.v, btt.v, mxr.v, ktn.v, epz.v, bva.v, bvg.v, ura.v, abn.v, laq.v,
"In 2010, results from the 300-metre drilling program, on the La Ortiguita property, confirmed the potential of the silicified zone in the east part of the prospect. In 2011, a 2,300-metre drilling campaign is planned to test for mineralization in this area. The La Ortiguita property is located on the El Indio trend, in proximity to Barrick's giant Pascua-Lama and Veladero deposits. La Mancha is the operator and will own 75% of the prospect by July 15, 2011."
ILC is currently pursuing confidential discussions with strategic investors to negotiate a beneficial transaction that may dramatically assist ILC in the attainment of its objectives.
Mariana Lithium Brine Project:
In 2011, the phase one drill program is planned to target and isolate separate brine horizons for a first-time representative characterization of the subsurface brine geochemistry. Subsequent drilling will continue to delineate and add to the confidence level of the geochemistry of the subsurface brine pool with an Inferred Resource estimate targeted for the end of the year. The Mariana project is expected to experience the most rapid advancement of any of the projects within the current TNR portfolio.
ILC holds three additional lithium brine properties in Nevada (Fish Lake, Runway and Sarcobatus Flats) located in adjacent valleys to the Silver Peak operation in Clayton Valley, the sole lithium brine producer in North America which has been in operation since 1966. Upon completion of the ILC spinout, the company is planning to mobilize a drill to all three properties, target the lithium brine aquifers within the stratigraphy and test their viability.
Mavis Lake Property:
Surface exploration work on the Mavis Lake rare metals' project, located 15 km Northeast of Dryden, Ontario, has revealed high-grade well-evolved lithium and tantalum zonation as well as significant levels of cesium and rubidium across multiple pegmatite bodies. These results show that the Mavis Lake property is clearly emerging as one of the premier multi-element rare metals projects and warrants a drill program in 2011 to determine its potential.
2010 exploration results included a channel sample running 1.50 wt% Li2O over 7.5 metres, which confirms the continuity of high grade lithium across substantial widths within the pegmatite, and a muck pile returned 8.44 wt% Li2O indicating that the source pegmatite is highly evolved and underscores the future potential of the property. These results demonstrate the potential that the Moose Property has and will be followed up with a drill program in 2011 to advance the project."
VANCOUVER, British Columbia -- TNR Gold Corp. (the "Company") -- (TSX.V - TNR) is pleased to announce La Mancha Resources Inc ("La Mancha"), the Company's joint venture partner on and Operator for the project, has decided to expand and continue the drill program on the La Ortiguita porphyry copper-gold/epithermal gold property, San Juan province, Argentina.
• Drill program expanded by 60% at La Ortiguita on positive identification of potential;
• Assays Pending; and
• Representative example of the Company's Joint Venture Business Model.
ONGOING EXPLORATION PROGRAM
Initially a 1,500 metre diamond drilling program was planned on the 'Silicified Zone' however due to the majority of the completed drill holes intersecting prospective altered rock and depositional textures potentially indicating an external halo of an epithermal low sulfidation system, the current program was increased to 2,400 metres. Assay results are pending.
In addition, an IP Resistivity survey was also completed over the 'Silicified Zone' in order to complement the previous magnetic survey and provide a better understanding of the geophysical response in the area as well as assist in target delineation.
ABOUT THE LA ORTIGUITA PROPERTY
The La Ortiguita property lies on the El Indio trend, close to Barrick Gold's giant Pascua-Lama and Veladero deposits. Exploration conducted thus far has targeted a porphyry copper-gold/epithermal gold system and has identified five distinct target areas for continued exploration referred to as the Zona Norte, Rio Blanco, Pablo, Pancho and the Silicified Zone. The Silicified Zone, the focus of the current exploration program, consists of an arcuate band of silicification approximately 300 to 400 m wide, extending over 1.5 km in length and is associated with an approximately 50 m wide shear zone.
In 2010, La Mancha carried out a 3,000 metre reverse-circulation drilling campaign on the property to assess the targets identified by geophysical and geochemical surveys conducted between 2007 and 2009. The 2010 program highlighted the potential of the Silicified Zone and following a strong recommendation to further evaluate the Silicified Zone evolved into the current exploration program.
To date, La Mancha has earned a 42.66% interest in the property and has an option to acquire a 75% undivided interest in the La Ortiguita property by spending $800,000 in exploration expenditures in 2011.
The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp upon completion of a proposed plan of arrangement.
The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, and building shareholder value.
On behalf of the board,
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