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News Releases - Wednesday, October 01, 2003
Curraghinalt Drilling Results Prove Vein Extensions -- Drilling
to Continue
=======================================================================
Tournigan Gold Corporation (" Tournigan" ) announces positive results
from an ongoing diamond drilling program on the Curraghinalt gold
project in Northern Ireland. Drilling will continue as Tournigan
advances the project towards a feasibility study and production. A
summary of other exploration activities on the Curraghinalt-Tyrone gold
projects are also announced.
Curraghinalt Drilling
The previous operator of the property drilled several widely-spaced
drill holes to the southeast of the Curraghinalt resource the results
of which showed a number of vein intersections showing strong gold
mineralization which suggested that the Curraghinalt veins could be
traced some considerable distance to the southeast. The purpose of
Tournigan`s drilling was to test these possible southeast extensions of
the three main veins that make up the Curraghinalt resource. Gold
mineralization occurs in discrete close-spaced veins and ore shoots
localized in a block approximately 1,000 metres long, 250 metres
across, and 150 metres in depth with mineralization open in all
directions. The Curraghinalt veins are relatively narrow and
high-grade with complex geometry that pinch-and-swell and split along
strike and down dip. Individual veins appear to be quite persistent
along strike and down dip but widths vary over short distances. Veins
commonly swell into 1 to 3 metre wide ore-shoots over lengths of 30 to
50 metres along strike and down dip forming tabular shaped ore bodies,
which then pinch down to widths of 10 to 20 centimetres or less.
Recent Tournigan drill results have successfully demonstrated that the
veins can be traced to the southeast and that the potential to
significantly increase the size of the Curraghinalt deposit is
therefore considered good. As a result Tournigan has decided to
continue drilling to better define and enlarge the Curraghinalt
resource.
Preliminary results have been received from three drill holes and a
fourth hole is still in progress. Results show that mineralized
extensions of the three main veins known as the T-17, No. 1 and 106-16
veins were intersected in all three drill holes. In addition a new
vein or veins were intersected. The four new diamond drill holes extend
approximately 325 metres southeast of the east end of the existing
resource block and the holes are collared at an average spacing of
approximately 100 metres along strike. Drill spacings of a minimum of
30 metres will eventually be required to fully define ore shoots within
the veins. These initial exploration drill holes were designed to
confirm the southeast continuity of the known mineralized veins.
Results are summarized as follows:
--------------------------------------------------------------------
Drill Hole From - to Length Grams per
(metres) (metres) tonne gold Vein
--------------------------------------------------------------------
CT-1 120.87 - 121.05 0.18 28.24 T-17
--------------------------------------------------------------------
*161.7 - 163.25 1.55 7.0 No. 1
--------------------------------------------------------------------
*Includes 162.19 - 162.73 0.54 17.69
--------------------------------------------------------------------
*178.28 - 179.72 1.44 14.81 106-16
--------------------------------------------------------------------
*Includes 178.28 - 179.22 0.94 22.94
--------------------------------------------------------------------
*186.78 - 188.18 1.4 5.0 New Vein
--------------------------------------------------------------------
*Includes 186.78 - 186.88 0.10 14.8
--------------------------------------------------------------------
187.29 - 187.44 0.15 10.84
--------------------------------------------------------------------
187.68 - 187.84 0.16 10.03
--------------------------------------------------------------------
188.05 - 188.18 0.13 12.74
--------------------------------------------------------------------
CT-2 53.01 - 53.20 0.19 79.31 T-17
--------------------------------------------------------------------
66.68 - 67.24 0.56 11.03 No.1
--------------------------------------------------------------------
95.28 - 95.57 0.29 7.66 106-16
--------------------------------------------------------------------
120.37 - 120.47 0.10 15.44 New Vein
--------------------------------------------------------------------
CT-3 48.35 - 48.80 0.45 12.54 T-17
--------------------------------------------------------------------
64.70 - 65.00 0.30 25.73 No. 1
--------------------------------------------------------------------
*112.32 - 115.15 2.83 12.4 106-16
--------------------------------------------------------------------
*Includes 112.32 - 113.72 1.40 19.07
--------------------------------------------------------------------
" 112.32 - 112.72 0.40 20.74
--------------------------------------------------------------------
" 112.72 - 113.22 0.50 16.56
--------------------------------------------------------------------
" 113.22 - 113.72 0.50 20.10
--------------------------------------------------------------------
" 114.70 - 115.15 0.45 17.69
--------------------------------------------------------------------
121.36 - 122.56 1.25 9.38 New Vein
--------------------------------------------------------------------
The above results demonstrate that the three main veins at Curraghinalt
can be traced at least an additional 325 metres to the southeast and
substantiate the existence of at least three high-grade ore shoots.
The previous operator of the property drilled several-widely spaced
diamond drill holes extending some 400 metres from the east end of the
resource block in the same general area as the recent Tournigan
drilling. Selected assay results are as follows:
--------------------------------------------------------------------
Drill Hole From - to Length Grams per
(metres) (metres) tonne gold Vein
--------------------------------------------------------------------
DDH#106-17 45.7 - 46.54 0.84 15.02 T-17
--------------------------------------------------------------------
*86.11 - 87.09 0.98 23.64 No. 1
--------------------------------------------------------------------
*Includes 86.11 - 86.59 0.48 46.84
--------------------------------------------------------------------
*113.04 - 113.89 0.85 16.28 106-16
--------------------------------------------------------------------
*Includes 113.04 - 113.33 0.29 46.69
--------------------------------------------------------------------
DDH#106-18 *67.56 - 68.74 1.18 16.38 No. 1
--------------------------------------------------------------------
*Includes 68.06 - 68.24 0.18 104.63
--------------------------------------------------------------------
DDH#106-19 *41.59 - 46.52 4.93 9.92 T-17
--------------------------------------------------------------------
*Includes 42.09 - 43.52 1.43 32.29
--------------------------------------------------------------------
" 42.09 - 42.25 0.16 225.85
--------------------------------------------------------------------
DDH#106-59 33.44 - 33.59 0.15 60.76 No name
--------------------------------------------------------------------
66.97 - 68.00 1.03 18.17
--------------------------------------------------------------------
DDH#106-63 23.10 - 23.80 0.70 25.30
--------------------------------------------------------------------
The combination of the Tournigan and historic drill results clearly
shows that at the T-17, No.1 and 106-16 veins continue at least 400
metres to the southeast. Because these drill holes are widely spaced
they are not necessarily representative of the true tenor of the vein
mineralization.
The resource previously estimated at Curraghinalt is 468,097 tonnes at
an average grade of 16.96 gram/tonne gold - equating to 255,000 ounces
of gold. This resource was calculated with a 6 gram/tonne cutoff using
a 1.25 metre minimum mining width over a strike length of approximately
1,000 metres. Based on Tournigan`s Phase 1 drilling results and
results from previous operators, Tournigan staff has estimated that
with further closely-spaced drilling to similar depths as previous
drilling, a 400 metre southeast extension of these three veins would
add approximately 150,000 - 250,000 tonnes to the present resource at a
estimated average grade of 13 - 21 grams/tonne gold. NOTE: These
estimates are conceptual in nature using the same parameters previously
used in resource estimates projected along the vein system. There is
currently insufficient data in these areas to define a mineral resource
and it is uncertain that further exploration will result in additional
resources.
These results are encouraging and consequently drilling will continue
at Curraghinalt. The new drilling will form part of the feasibility
study to bring Curraghinalt into production.
The Curraghinalt Trend
Surface mapping, outcrop sampling, geochemical soil sampling,
geophysical and deep overburden surveys have partially delineated an
approximately 8 kilometre by 1 kilometre west-northwest trending
corridor ( " Curraghinalt Trend" ) of medium to high grade rock and
soil gold anomalies extending outwards from the Curraghinalt resource
to the northwest and southeast. Based on the existence of mineralized
vein extensions along and new veins across strike, abundant rock
samples with high grade gold assays and numerous clusters of strong
shallow and deep overburden gold soil anomalies Tournigan believes the
potential exists to increase the present resource tonnage approximately
four-fold within the area defined by an additional 1 kilometre along
and across strike from the present resource block. See NOTE above.
Structural Geological Work at Curraghinalt
A detailed structural analysis has been completed at Curraghinalt
utilizing historic drill, trench and underground mapping data as well
as data from detailed mapping in the underground workings at
Curraghinalt. Concepts regarding vein and ore shoot geometry and
kinematics are being correlated with district wide geology, satellite
imagery, geophysics and soil geochemistry to guide not only local
Curraghinalt exploration work but also regional exploration that is
aimed at the discovery of additional vein systems.
Glenlark Prospect
Seven diamond drill holes totaling 730 metres were drilled by Tournigan
on geochemical and IP geophysical targets on the Glenlark gold-base
metal " sedex" prospect located 6 kilometres from Curraghinalt.
Although results were disappointing they did verify previous drill
intercepts of Au-Ag-Cu-Zn-Pb stratabound and discordant sulfide
mineralization; the best intersection was 2.86 g/t gold and 8.33 g/t
silver over 2.9 metres.
New Licences
Tournigan can acquire up to a 100% interest in prospecting licenses
owned by Strongbow Resources Inc. which cover an area of 346 square
kilometres on which the Curraghinalt property is located. In addition,
widespread gold occurrences have been documented nearby from regional
stream sediment surveys conducted by the Northern Ireland Geological
Survey. Consequently Tournigan has applied for five additional
Northern Ireland prospecting licenses covering an area of 1,055 square
kilometres.
Other Matters
Tournigan has issued 400,000 stock options to directors, employees and
consultants pursuant to Tournigan`s stock option plan previously
approved by shareholders and the TSX Venture Exchange.
Tournigan`s Quality Assurance/Quality Control Program
Tournigan has implemented a Quality Assurance/Quality Control (QA/QC)
program as part of all geochemical sampling, sample shipping and sample
analysis procedures, for drilling, rock sampling, and soil and stream
sediment sampling programs. QA/QC procedures include chain-of-custody
protocol and systematic submittal of blank samples and duplicate
samples.
TOURNIGAN GOLD CORPORATION
" Michael Hopley"
Michael Hopley, Chief Operating Officer and Director
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.
For further information please contact:
Damien Reynolds, President
Tel: (604) 683-8320
Garry Stock, Executive VP
Tel: (604) 683-8320
Curraghinalt Drilling Results Prove Vein Extensions -- Drilling
to Continue
=======================================================================
Tournigan Gold Corporation (" Tournigan" ) announces positive results
from an ongoing diamond drilling program on the Curraghinalt gold
project in Northern Ireland. Drilling will continue as Tournigan
advances the project towards a feasibility study and production. A
summary of other exploration activities on the Curraghinalt-Tyrone gold
projects are also announced.
Curraghinalt Drilling
The previous operator of the property drilled several widely-spaced
drill holes to the southeast of the Curraghinalt resource the results
of which showed a number of vein intersections showing strong gold
mineralization which suggested that the Curraghinalt veins could be
traced some considerable distance to the southeast. The purpose of
Tournigan`s drilling was to test these possible southeast extensions of
the three main veins that make up the Curraghinalt resource. Gold
mineralization occurs in discrete close-spaced veins and ore shoots
localized in a block approximately 1,000 metres long, 250 metres
across, and 150 metres in depth with mineralization open in all
directions. The Curraghinalt veins are relatively narrow and
high-grade with complex geometry that pinch-and-swell and split along
strike and down dip. Individual veins appear to be quite persistent
along strike and down dip but widths vary over short distances. Veins
commonly swell into 1 to 3 metre wide ore-shoots over lengths of 30 to
50 metres along strike and down dip forming tabular shaped ore bodies,
which then pinch down to widths of 10 to 20 centimetres or less.
Recent Tournigan drill results have successfully demonstrated that the
veins can be traced to the southeast and that the potential to
significantly increase the size of the Curraghinalt deposit is
therefore considered good. As a result Tournigan has decided to
continue drilling to better define and enlarge the Curraghinalt
resource.
Preliminary results have been received from three drill holes and a
fourth hole is still in progress. Results show that mineralized
extensions of the three main veins known as the T-17, No. 1 and 106-16
veins were intersected in all three drill holes. In addition a new
vein or veins were intersected. The four new diamond drill holes extend
approximately 325 metres southeast of the east end of the existing
resource block and the holes are collared at an average spacing of
approximately 100 metres along strike. Drill spacings of a minimum of
30 metres will eventually be required to fully define ore shoots within
the veins. These initial exploration drill holes were designed to
confirm the southeast continuity of the known mineralized veins.
Results are summarized as follows:
--------------------------------------------------------------------
Drill Hole From - to Length Grams per
(metres) (metres) tonne gold Vein
--------------------------------------------------------------------
CT-1 120.87 - 121.05 0.18 28.24 T-17
--------------------------------------------------------------------
*161.7 - 163.25 1.55 7.0 No. 1
--------------------------------------------------------------------
*Includes 162.19 - 162.73 0.54 17.69
--------------------------------------------------------------------
*178.28 - 179.72 1.44 14.81 106-16
--------------------------------------------------------------------
*Includes 178.28 - 179.22 0.94 22.94
--------------------------------------------------------------------
*186.78 - 188.18 1.4 5.0 New Vein
--------------------------------------------------------------------
*Includes 186.78 - 186.88 0.10 14.8
--------------------------------------------------------------------
187.29 - 187.44 0.15 10.84
--------------------------------------------------------------------
187.68 - 187.84 0.16 10.03
--------------------------------------------------------------------
188.05 - 188.18 0.13 12.74
--------------------------------------------------------------------
CT-2 53.01 - 53.20 0.19 79.31 T-17
--------------------------------------------------------------------
66.68 - 67.24 0.56 11.03 No.1
--------------------------------------------------------------------
95.28 - 95.57 0.29 7.66 106-16
--------------------------------------------------------------------
120.37 - 120.47 0.10 15.44 New Vein
--------------------------------------------------------------------
CT-3 48.35 - 48.80 0.45 12.54 T-17
--------------------------------------------------------------------
64.70 - 65.00 0.30 25.73 No. 1
--------------------------------------------------------------------
*112.32 - 115.15 2.83 12.4 106-16
--------------------------------------------------------------------
*Includes 112.32 - 113.72 1.40 19.07
--------------------------------------------------------------------
" 112.32 - 112.72 0.40 20.74
--------------------------------------------------------------------
" 112.72 - 113.22 0.50 16.56
--------------------------------------------------------------------
" 113.22 - 113.72 0.50 20.10
--------------------------------------------------------------------
" 114.70 - 115.15 0.45 17.69
--------------------------------------------------------------------
121.36 - 122.56 1.25 9.38 New Vein
--------------------------------------------------------------------
The above results demonstrate that the three main veins at Curraghinalt
can be traced at least an additional 325 metres to the southeast and
substantiate the existence of at least three high-grade ore shoots.
The previous operator of the property drilled several-widely spaced
diamond drill holes extending some 400 metres from the east end of the
resource block in the same general area as the recent Tournigan
drilling. Selected assay results are as follows:
--------------------------------------------------------------------
Drill Hole From - to Length Grams per
(metres) (metres) tonne gold Vein
--------------------------------------------------------------------
DDH#106-17 45.7 - 46.54 0.84 15.02 T-17
--------------------------------------------------------------------
*86.11 - 87.09 0.98 23.64 No. 1
--------------------------------------------------------------------
*Includes 86.11 - 86.59 0.48 46.84
--------------------------------------------------------------------
*113.04 - 113.89 0.85 16.28 106-16
--------------------------------------------------------------------
*Includes 113.04 - 113.33 0.29 46.69
--------------------------------------------------------------------
DDH#106-18 *67.56 - 68.74 1.18 16.38 No. 1
--------------------------------------------------------------------
*Includes 68.06 - 68.24 0.18 104.63
--------------------------------------------------------------------
DDH#106-19 *41.59 - 46.52 4.93 9.92 T-17
--------------------------------------------------------------------
*Includes 42.09 - 43.52 1.43 32.29
--------------------------------------------------------------------
" 42.09 - 42.25 0.16 225.85
--------------------------------------------------------------------
DDH#106-59 33.44 - 33.59 0.15 60.76 No name
--------------------------------------------------------------------
66.97 - 68.00 1.03 18.17
--------------------------------------------------------------------
DDH#106-63 23.10 - 23.80 0.70 25.30
--------------------------------------------------------------------
The combination of the Tournigan and historic drill results clearly
shows that at the T-17, No.1 and 106-16 veins continue at least 400
metres to the southeast. Because these drill holes are widely spaced
they are not necessarily representative of the true tenor of the vein
mineralization.
The resource previously estimated at Curraghinalt is 468,097 tonnes at
an average grade of 16.96 gram/tonne gold - equating to 255,000 ounces
of gold. This resource was calculated with a 6 gram/tonne cutoff using
a 1.25 metre minimum mining width over a strike length of approximately
1,000 metres. Based on Tournigan`s Phase 1 drilling results and
results from previous operators, Tournigan staff has estimated that
with further closely-spaced drilling to similar depths as previous
drilling, a 400 metre southeast extension of these three veins would
add approximately 150,000 - 250,000 tonnes to the present resource at a
estimated average grade of 13 - 21 grams/tonne gold. NOTE: These
estimates are conceptual in nature using the same parameters previously
used in resource estimates projected along the vein system. There is
currently insufficient data in these areas to define a mineral resource
and it is uncertain that further exploration will result in additional
resources.
These results are encouraging and consequently drilling will continue
at Curraghinalt. The new drilling will form part of the feasibility
study to bring Curraghinalt into production.
The Curraghinalt Trend
Surface mapping, outcrop sampling, geochemical soil sampling,
geophysical and deep overburden surveys have partially delineated an
approximately 8 kilometre by 1 kilometre west-northwest trending
corridor ( " Curraghinalt Trend" ) of medium to high grade rock and
soil gold anomalies extending outwards from the Curraghinalt resource
to the northwest and southeast. Based on the existence of mineralized
vein extensions along and new veins across strike, abundant rock
samples with high grade gold assays and numerous clusters of strong
shallow and deep overburden gold soil anomalies Tournigan believes the
potential exists to increase the present resource tonnage approximately
four-fold within the area defined by an additional 1 kilometre along
and across strike from the present resource block. See NOTE above.
Structural Geological Work at Curraghinalt
A detailed structural analysis has been completed at Curraghinalt
utilizing historic drill, trench and underground mapping data as well
as data from detailed mapping in the underground workings at
Curraghinalt. Concepts regarding vein and ore shoot geometry and
kinematics are being correlated with district wide geology, satellite
imagery, geophysics and soil geochemistry to guide not only local
Curraghinalt exploration work but also regional exploration that is
aimed at the discovery of additional vein systems.
Glenlark Prospect
Seven diamond drill holes totaling 730 metres were drilled by Tournigan
on geochemical and IP geophysical targets on the Glenlark gold-base
metal " sedex" prospect located 6 kilometres from Curraghinalt.
Although results were disappointing they did verify previous drill
intercepts of Au-Ag-Cu-Zn-Pb stratabound and discordant sulfide
mineralization; the best intersection was 2.86 g/t gold and 8.33 g/t
silver over 2.9 metres.
New Licences
Tournigan can acquire up to a 100% interest in prospecting licenses
owned by Strongbow Resources Inc. which cover an area of 346 square
kilometres on which the Curraghinalt property is located. In addition,
widespread gold occurrences have been documented nearby from regional
stream sediment surveys conducted by the Northern Ireland Geological
Survey. Consequently Tournigan has applied for five additional
Northern Ireland prospecting licenses covering an area of 1,055 square
kilometres.
Other Matters
Tournigan has issued 400,000 stock options to directors, employees and
consultants pursuant to Tournigan`s stock option plan previously
approved by shareholders and the TSX Venture Exchange.
Tournigan`s Quality Assurance/Quality Control Program
Tournigan has implemented a Quality Assurance/Quality Control (QA/QC)
program as part of all geochemical sampling, sample shipping and sample
analysis procedures, for drilling, rock sampling, and soil and stream
sediment sampling programs. QA/QC procedures include chain-of-custody
protocol and systematic submittal of blank samples and duplicate
samples.
TOURNIGAN GOLD CORPORATION
" Michael Hopley"
Michael Hopley, Chief Operating Officer and Director
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.
For further information please contact:
Damien Reynolds, President
Tel: (604) 683-8320
Garry Stock, Executive VP
Tel: (604) 683-8320
gratuliere wayne...wieder ein glückliches Händchen gehabt!
Das sehen wir heute nachmittag, ob das Händchen so gut war
sieht doch gut aus bei Tournigan - hab ich leider nicht im Depot...
Weitere News:
Re: News Release - Wednesday, October 08, 2003
Tournigan Adds To Kremnica Landholdings - Repays Loan to Quest
=======================================================================
Tournigan Gold Corporation (TVC:TSX.V) announces that it has
significantly added to its land position by making application for an
exploration concession covering 49 square kilometres of ground
immediately south of the Company`s Kremnica Gold Project, in the Slovak
Republic. Surface geological features on this new concession indicate
the potential for the discovery of underlying additional Kremnica-type
gold mineralization.
In addition, Tournigan announces that it has paid back the full amount
of the bridge loan from Quest Capital Inc. that was used to acquire the
Kremnica Gold Project. With this repayment, Tournigan owns 100% of the
project, containing over one million ounces of gold, and has no
long-term debt.
The purchase of Kremnica by Tournigan in July 2003 included the 11.8
square kilometre Kremnica Mining Licence and the 14.5 square kilometre
exploration concession called Lucky. Reconnaissance of the area has
shown that signs of epithermal mineralization are more widespread than
previously recognized extending well beyond the boundaries of the Lucky
concession. As a result, Tournigan has expanded its exploration ground
to now control over 75 square kilometres of ground extending 14
kilometres south of the Kremnica mine workings.
Epithermal gold mineralization at Kremnica is controlled by a regional
north-south fault system. Approximately 5 kilometres south of the
Kremnica mine and on-strike with the controlling structures are
rhyolite flow-dome complexes intruding a sequence of felsic
pyroclastics and associated volcanoclastic sediments. These volcanics
overlie the andesites that are host to the Kremnica vein system.
Argillic-propylitic alteration is extensive, covering several square
kilometers in area. Silicification in the form of chalcedonic and
opaline silica is also widespread. Reconnaissance rock sampling by the
previous owner produced strong arsenic, antimony and mercury anomalies
in the area of the new concession. In addition rock samples collected
from a north-south trending brecciated and silicified structure
contained 1 to 3.5 grams per tonne (g/t) gold.
These occurrences on the Lucky and the new exploration concession are
considered indicative of the upper levels of a large epithermal
precious metal system and may represent higher levels of the Kremnica
gold system with more Kremnica-type mineralization existing at depth.
Tournigan staff is starting a program of detailed geologic mapping,
rock sampling and soil geochemistry to prioritise drill targets.
Kremnica is a large Tertiary age volcanic hosted epithermal gold system
where historic production over 700 years totaled 1.5 million ounces of
gold and 6.7 million ounces of silver from an original deposit
estimated at over 5 million ounces (based on historical recoveries of
approximately 30%). In 1998, an independent consultant estimated the
resource at Kremnica to be 15.6 million tonnes at an average grade of
1.91 g/t gold and 15.0 g/t silver at a 1.0 g/t gold cutoff. (See
Tournigan`s news release of June 26, 2003 for full details).
TOURNIGAN GOLD CORPORATION
" Michael Hopley"
Michael Hopley, Chief Operating Officer and Director
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.
For further information please contact:
Damien Reynolds, President Tel: (604) 683-8320
Garry Stock, Executive VP Tel: (604) 683-8320
Re: News Release - Wednesday, October 08, 2003
Tournigan Adds To Kremnica Landholdings - Repays Loan to Quest
=======================================================================
Tournigan Gold Corporation (TVC:TSX.V) announces that it has
significantly added to its land position by making application for an
exploration concession covering 49 square kilometres of ground
immediately south of the Company`s Kremnica Gold Project, in the Slovak
Republic. Surface geological features on this new concession indicate
the potential for the discovery of underlying additional Kremnica-type
gold mineralization.
In addition, Tournigan announces that it has paid back the full amount
of the bridge loan from Quest Capital Inc. that was used to acquire the
Kremnica Gold Project. With this repayment, Tournigan owns 100% of the
project, containing over one million ounces of gold, and has no
long-term debt.
The purchase of Kremnica by Tournigan in July 2003 included the 11.8
square kilometre Kremnica Mining Licence and the 14.5 square kilometre
exploration concession called Lucky. Reconnaissance of the area has
shown that signs of epithermal mineralization are more widespread than
previously recognized extending well beyond the boundaries of the Lucky
concession. As a result, Tournigan has expanded its exploration ground
to now control over 75 square kilometres of ground extending 14
kilometres south of the Kremnica mine workings.
Epithermal gold mineralization at Kremnica is controlled by a regional
north-south fault system. Approximately 5 kilometres south of the
Kremnica mine and on-strike with the controlling structures are
rhyolite flow-dome complexes intruding a sequence of felsic
pyroclastics and associated volcanoclastic sediments. These volcanics
overlie the andesites that are host to the Kremnica vein system.
Argillic-propylitic alteration is extensive, covering several square
kilometers in area. Silicification in the form of chalcedonic and
opaline silica is also widespread. Reconnaissance rock sampling by the
previous owner produced strong arsenic, antimony and mercury anomalies
in the area of the new concession. In addition rock samples collected
from a north-south trending brecciated and silicified structure
contained 1 to 3.5 grams per tonne (g/t) gold.
These occurrences on the Lucky and the new exploration concession are
considered indicative of the upper levels of a large epithermal
precious metal system and may represent higher levels of the Kremnica
gold system with more Kremnica-type mineralization existing at depth.
Tournigan staff is starting a program of detailed geologic mapping,
rock sampling and soil geochemistry to prioritise drill targets.
Kremnica is a large Tertiary age volcanic hosted epithermal gold system
where historic production over 700 years totaled 1.5 million ounces of
gold and 6.7 million ounces of silver from an original deposit
estimated at over 5 million ounces (based on historical recoveries of
approximately 30%). In 1998, an independent consultant estimated the
resource at Kremnica to be 15.6 million tonnes at an average grade of
1.91 g/t gold and 15.0 g/t silver at a 1.0 g/t gold cutoff. (See
Tournigan`s news release of June 26, 2003 for full details).
TOURNIGAN GOLD CORPORATION
" Michael Hopley"
Michael Hopley, Chief Operating Officer and Director
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.
For further information please contact:
Damien Reynolds, President Tel: (604) 683-8320
Garry Stock, Executive VP Tel: (604) 683-8320
wie ist es möglich daß ich auf 2 verschiedenen Yahoo-Seiten für TVC zwei völlig unterschiedliche Infos bekomme ??
http://de.finance.yahoo.com/q?d=v1&s=TVC.F%2BTVC.V&m=a
hier geht es mit Vol. 9% runter,
und unten mit nur 1000 Vol. nur 1,5 %
http://finance.yahoo.com/q/cq?s=TVC.V&d=v1
sowas habe ich ja noch nie gesehen !!!!!!!!!
http://de.finance.yahoo.com/q?d=v1&s=TVC.F%2BTVC.V&m=a
hier geht es mit Vol. 9% runter,
und unten mit nur 1000 Vol. nur 1,5 %
http://finance.yahoo.com/q/cq?s=TVC.V&d=v1
sowas habe ich ja noch nie gesehen !!!!!!!!!
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