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Wed Jun 29, 2005 Tournigan Plans for Curraghinalt Bulk Sample -------------------------------------------------------------------------------- Tournigan Gold Corporation is pleased to announce that the design for the next step of underground development work at the Curraghinalt Gold Project in Northern Ireland has been completed. Tournigan anticipates this phase of exploration will upgrade the existing Curraghinalt Inferred resource to the Measured and Indicated categories. Prior to initiating the exploration development, Tournigan plans an infill diamond drill programme on the East Extension target which is anticipated to outline an Inferred resource. The underground development work will then also provide data for the upgrading of this potential East Extension target to the Measured, Indicated and Inferred resource categories. Three-dimensional drawings of the mine design are available on the Tournigan website at www.tournigan.com. The development includes a decline from the existing adit at the 5170-metre level down to the 5130-metre level, with drifts (tunnels) along four of the Curraghinalt resource veins. Material from the veins will be sampled and assayed for the resource database as well as used for additional metallurgical studies, as part of feasibility work for Curraghinalt. Tenders to complete this work have been sent to two mining contractors who have already conducted site visits at Curraghinalt. Permits will be sought after Tournigan receives the design of necessary surface infrastructure from the contractor. Initial indications are that this stage of the permitting process should be completed in 3 to 5 months. This work forms part of Stage 1 of the development "roadmap" for Curraghinalt announced on May 9th, 2005, which remains on schedule. Curraghinalt is a high-grade mesothermal gold vein system that currently hosts an Inferred resource estimate of 262,000 ounces grading 15.45 g/t gold in 527,700 tonnes. This estimate does not include high-grade drill results deeper than 150 metres from surface, which is the average deepest projection of the estimated resource. Adjacent along strike to the east of the current resource is the East Extension zone and exploration target. Tournigan expects to add another 210,000 to 300,000 oz of gold resources down to 150 metres below surface level from the East Extension target. The East Extension target is currently defined by twelve deep historic diamond drill holes, two fences of shallow historic drill holes, nine historic exploration trenches, and four deep Tournigan test diamond drill holes along an approximately 800-metre trend of the vein system. Present drill grid spacing in the East Extension varies from 50 m by 75 m to 100 m by 200 m. Tournigan plans to tighten the grid spacing to 50 by 50 m in order to estimate an East Extension Inferred resource. It is anticipated that this Inferred resource (as well as the existing Curraghinalt Inferred resource) will be then upgraded into a Measured, Indicated and Inferred resource by conducting the exploration development and sampling programme outlined above. Curraghinalt - East Extension Exploration Target -------------------------------------------------------------------- Strike depth Width Tonnage range Grade factor Target (m) (m) range range range (m) (g/t) - ounces -------------------------------------------------------------------- Vein 1 750 150 1 1.25 310,000 385,000 14 16 50% 70,000 100,000 Vein 2 750 150 1 1.25 310,000 385,000 14 16 50% 70,000 100,000 Vein 3 750 150 1 1.25 310,000 385,000 14 16 50% 70,000 100,000 -------------------------------------------------------------------- </TABLE> Present vein intersections within the East Extension target range in width from 0.54 m to 2.83 m (core length intervals and not recalculated to true widths). Tournigan believes that the current data on the East Extension target and the adjacent current Inferred Resource supports the exploration target parameters. The potential quantity and grade of the East Extension target are still conceptual - there has been insufficient exploration to define a mineral resource in the East Extension zone and it is uncertain if further exploration will result in a mineral resource. Corporate Matters Tournigan also regrets to announce that Mr. Yale Simpson has resigned from the board of directors, due to time constraints. Mr. Simpson was instrumental in Tournigan`s successful acquisition of the Kremnica Gold Project and the Company wishes him well in his endeavours, in particular as President of the Britannia Beach Historical Society, the governing body of the BC Museum of Mining. Established in 1971 to preserve the material and social history of mining in British Columbia, the Society concentrates on educating the public about mining. Tournigan Gold is focused on developing advanced gold projects in Europe - Curraghinalt in Northern Ireland and Kremnica in Slovakia. The acquisition of new uranium projects in Slovakia and Wyoming, as well as the Brehov VMS project, adds a dynamic component to Tournigan`s asset mix. TOURNIGAN GOLD CORPORATION "Damien Reynolds" Damien Reynolds, CEO "James Walchuck" James Walchuck, President and COO Tournigan`s Qualified Person for the Curraghinalt Project is Dr. Kent Ausburn, VP of Exploration. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, including statements relating to the Company`s future plans and objectives or expected results, constitute forward-looking statements. 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 mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. |
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| aus der Diskussion: | DIE AKTIE 2005 - TOURNIGAN GOLD COR |
| Autor (Datum des Eintrages): | bodypainter (29.06.05 09:02:39) |
| Beitrag: | 73 von 246 (ID:17058009) |
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