" TNR Gold: Minera Andes drills 269 m of 0.50% Cu At Los Azules. Finally, we have the latest drill results from Los Azules - this copper deposit continues to shape into the one of the largest undeveloped copper deposits in the world.
The very important message is that there are no ice glaciers present in the project area. Step out hole looks very encouraging as well. Solid results, which will allow to upgrade the resource category. Condemnations holes are drilled on the Escorpio IV, which is described as "Contested Concession" - all other project areas are called 100% owned. Escorpio IV is a part of litigation with TNR Gold on this project. "The results of the 2011 drilling will not have a material impact on the inferred mineralisation and no resource update is warranted" - this must be the message to Minera Andes disgruntled shareholders by the US Gold's low ball merger offer made before these results were announced. TNR Gold will hardly bite into any discount of its properties."
"TNR Gold Corporate Update Post Lithium Spinoff and Litigation Update On Los Azules case. Very interesting part is the link to the new Los Azules page on TNR Gold website, now we can see the recent Judgement and Application from TNR Gold for the new claim on Los Azules. Recent sell off in the company share price looks like another punishment - we have seen it a few times already during the last year. Will be interesting to see who is buying. This tree will not be shaken, these people know what they are doing and the magnitude of recent litigation is matched very well by the profile of the people involved in it."
The very important message is that there are no ice glaciers present in the project area. Step out hole looks very encouraging as well. Solid results, which will allow to upgrade the resource category. Condemnations holes are drilled on the Escorpio IV, which is described as "Contested Concession" - all other project areas are called 100% owned. Escorpio IV is a part of litigation with TNR Gold on this project. "The results of the 2011 drilling will not have a material impact on the inferred mineralisation and no resource update is warranted" - this must be the message to Minera Andes disgruntled shareholders by the US Gold's low ball merger offer made before these results were announced. TNR Gold will hardly bite into any discount of its properties."
"TNR Gold Corporate Update Post Lithium Spinoff and Litigation Update On Los Azules case. Very interesting part is the link to the new Los Azules page on TNR Gold website, now we can see the recent Judgement and Application from TNR Gold for the new claim on Los Azules. Recent sell off in the company share price looks like another punishment - we have seen it a few times already during the last year. Will be interesting to see who is buying. This tree will not be shaken, these people know what they are doing and the magnitude of recent litigation is matched very well by the profile of the people involved in it."
"The New Claim alleges that Xstrata and Minera Andes did not complete the required exploration expenditures required for Xstrata's exercise of its option on April 23, 2007 to acquire the Properties. On that basis, TNR and Solitario advance a claim of breach of contract and intentional interference with economic relations, and seek the return of the Properties, or alternatively, damages as against the defendants or any of them."
These properties are called Xstrata on the map above. TNR Gold litigation team now seeks in this new claim that Northern half of the Los Azules deposit to be returned to TNR Gold. The level of the case is elevated now by this action from potentially 15% after back-in into the project for TNR Gold (it is 25% for the Northern Half of the deposit, but high grade core is located on TNR Gold property called Xstrata on the map) to the claim that seeks the return of the all Solitario (TNR Gold subsidiary in Argentina) properties, which comprise roughly half of the Los Azules deposit at this moment - above the line on the map called Xstrata.
Nobody will take these kind of developments lightly just before the trial which was due to commence in June 2011. It took Judge two days to consider the application of George Macintosh litigation team and it was granted to TNR Gold.
Nobody will take these kind of developments lightly just before the trial which was due to commence in June 2011. It took Judge two days to consider the application of George Macintosh litigation team and it was granted to TNR Gold.
"TNR Gold: Los Azules litigation: Rob McEwen Proposes Merger of US Gold and Minera Andes. In our publishing hobby, which we consider educational for us and our fellow investors, we like to follow the big cases which are played by small players and build up the puzzles on the chess board. Los Azules with its profile of the really "Big Copper" project in Americas fits well into this description. We will have to run a little bit of history in order to put the recent news in the context"
Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.
| "TNR Gold Corp. TSX VENTURE : TNR  |
June 28, 2011 08:45 ET
TNR Gold Advises of Minera Andes Drill Results and Development Updates for the Los Azules Copper Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 28, 2011) - TNR Gold Corp. (the "Company") (TSX VENTURE:TNR) announces that it has become aware of a news release issued by Minera Andes Inc. ("MAI") on June 27, 2011 disclosing drill results from the January to May 2011 exploration program at the Los Azules project ("Project"). As most recently disclosed by the Company in its press release of May 16, 2011, the Company is involved in a legal dispute with MAI regarding TNR's interest in the Project. As a result, a qualified person of TNR (within the meaning of National Instrument 43-101) has not been able to verify the information disclosed by MAI, and, thus, such information should not be relied upon by TNR shareholders. The news release also describes results of condemnation holes for surface facilities which have been drilled on properties including Escorpio IV (referred to as "contested concession"). Escorpio IV is currently held in TNR's wholly owned subsidiary, Solitario Argentina S.A.
The Los Azules project is an advanced-stage exploration project that is the subject of a National Instrument 43-101 compliant report prepared for MAI that discloses certain Measured, Indicated and Inferred Resources. TNR's wholly owned subsidiary, Solitario Argentina S.A., originally served notice of its intention to exercise its 25 per-cent back-in right to certain of the properties comprising the Los Azules project. Solitario's back-in right is the subject of a lawsuit filed by MAI's, and the terms of the back in right are the subject of litigation between Solitario and Xstrata ("MIM"). On May 16, 2011, the British Columbia Supreme Court granted TNR the right to add a new claim to the litigation, alleging that MIM and MAI did not complete the required exploration expenditures to earn its option on April 23, 2007. A court date, originally set for June 20, 2011 in Vancouver, has been adjourned and a new date will be set in due course.
In the legal dispute with MIM, TNR is also seeking confirmation of its ownership of the Escorpio IV property, which is located adjacent to the Project and a declaration that the Escorpio IV property is excluded from the Exploration and Option Agreement.
Additional information can be obtained on the TNR corporate Los Azules webpage - http://www.tnrgoldcorp.com/s/LosAzules.asp.
ABOUT TNR GOLD CORP.
TNR is a diversified international mineral exploration company focusing on the advancement of existing properties and identifying and acquiring new prospective projects. TNR has a portfolio of 9 active projects, and a 29% interest in International Lithium Corp. ("ILC"), which has 9 active rare metal projects.
The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the TNR and ILC's commitments to generating projects, diversifying its markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President – TNR Gold Corp.
Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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