10.67 meters of 7.51 gpt
gold Intersected in Ongoing Drill Program which
Continues to Extend and Expand Mineralized Zones at San Francisco Mine
Timmins Gold Corp. (TMM, TSX-V) is pleased to announce that its ongoing
drill program continues to extend and expand the strike length of
mineralization at the San Francisco Gold Mine, located in the State of
Sonora, Mexico. Highlights of the assays received from the 27,240 meters of
drilling completed from July to December, 2010 include 10.67 meters of
7.51 gpt goldin Hole TF-826 and 6.09
meters of 2.88 gpt goldin Hole TF-845 from the
Southeast (SE) Zone. The Southwest (SW) Zone returned assays of 9.14
meters of 3.69 gpt goldand 10.66 meters of 2.44 gpt goldin Hole TF-809 and 4.57 meters of 3.46 gpt goldin Hole TF-728. Infill drilling in areas inside
the currently planned pit limit returned assays of 7.62 meters of 3.93 gpt goldin Hole TF-860, 21.34 meters of 1.46 gpt goldin Hole TF-863 and 16.77 meters of 1.82 gpt goldin Hole TF-869. Condemnation drilling conducted
approximately 400 meters to the Northwest of the pit limit failed to
condemn the area as anomalous gold values were encountered in a majority of
the holes including 4.57 meters of 1.47 gpt goldfrom
Hole TF-800.
The large number of holes which returned anomalous gold values indicate the potential for expansion of the open pit
beyond its current projected limit and indicate that the mineralized system
is open to the Northwest, Southwest, Southeast and East of the currently
planned pit limit. Details of an extensive drill program currently under
way for 2011 will be released shortly.
The most current round of drilling has taken place� since June 2010, and
the results are not included in the most recent resource and reserve update
published in November 2010. The July to December program totaled
approximately 27,240 meters in 214 drill holes. Drilling has been focused
on extending the known �strike length of the Northwest, Southwest and
Southeast extensions. Further, condemnation drilling to the Northwest
returned anomalous gold values which will require further drilling. The
extension drilling, which is testing the potential of the San Francisco
deposit outside of the limits of the currently planned final pit, continues
to confirm the continuity of mineralization within a 1.2 kilometer wide,
major NW-SE trending gold-hosting structure. The holes were all relatively
shallow and were drilled to a maximum depth of 130 meters.
Drilling was also undertaken inside the currently planned pit limits in
areas that required a higher density of drilling in order to be considered
a part of the mine plan and, until now, were
classified largely as waste for mine planning purposes.
The table below highlights the better intercepts from the recently
completed program:
Drill Intercepts SW of the San Francisco Pit
Drill Hole Number
|
From
(m)
|
To
(m)
|
True Width
(m)
|
Au
(g/t)
|
TF-355
|
28.96
|
36.58
|
7.62
|
1.71
|
TF-471
|
24.38
|
27.43
|
3.05
|
2.60
|
TF-472
|
1.52
|
6.10
|
4.58
|
2.24
|
TF-636
|
30.48
|
38.10
|
7.62
|
3.49
|
TF-637
|
103.63
|
108.20
|
4.57
|
4.36
|
TF-685
|
36.58
|
39.62
|
3.04
|
5.18
|
TF-754
|
0.00
|
6.10
|
6.10
|
1.88
|
TF-792
|
89.92
|
108.20
|
18.28
|
1.15
|
TF-793
|
70.10
|
82.30
|
12.20
|
2.14
|
TF-799
|
118.87
|
123.44
|
4.57
|
1.76
|
TF-800
|
12.19
|
16.76
|
4.57
|
1.47
|
TF-803
|
92.96
and 109.73
|
99.06
123.44
|
6.10
13.71
|
1.54
1.58
|
TF805
|
30.48
and 160.05
|
35.05
175.26
|
4.57
15.21
|
1.50
2.05
|
TF-809
|
117.35
and 128.02
|
126.49
138.68
|
9.14
10.66
|
3.69
2.44
|
Drill Intercepts SE of the San Francisco Pit
Drill Hole Number
|
From
(m)
|
To
(m)
|
True Width
(m)
|
Au
(g/t)
|
TF-813
|
109.73
|
123.44
|
13.71
|
1.46
|
TF-822
|
12.19
|
27.43
|
15.24
|
1.11
|
TF-824
|
6.09
|
18.28
|
12.19
|
1.19
|
TF-826
|
6.09
|
16.76
|
10.67
|
7.51
|
TF-833
|
124.97
|
129.54
|
4.57
|
2.39
|
TF-845
|
33.53
|
39.62
|
6.09
|
2.88
|
TF-896
|
62.48
|
67.06
|
4.58
|
1.51
|
TF-897
|
35.05
|
36.58
|
1.53
|
2.19
|
Drill Intercepts to the SW and inside of the San Francisco Pit
Drill Hole Number
|
From
(m)
|
To
(m)
|
True Width
(m)
|
Au
(g/t)
|
TF-860
|
42.67
|
50.29
|
7.62
|
3.93
|
TF-863
|
16.76
|
38.10
|
21.34
|
1.46
|
TF-869
|
9.14
and 21.33
|
16.75
38.10
|
7.61
16.77
|
1.68
1.82
|
Drill Intercepts to the NW and inside of the San Francisco Pit
Drill Hole Number
|
From
(m)
|
To
(m)
|
True Width
(m)
|
Au
(g/t)
|
TF-878
|
45.72
|
48.77
|
3.05
|
5.38
|
TF-882
|
50.29
|
53.34
|
3.05
|
5.18
|
TF-883
|
30.48
|
33.52
|
3.04
|
2.70
|
TF-884
|
77.72
and 85.34
|
82.30
91.44
|
4.58
6.10
|
3.23
1.26
|
TF-885
|
27.43
|
35.05
|
7.62
|
1.29
|
The exploration success follows upon the commencement of commercial
production at the San Francisco Mine in April 2010. The size of the gold
mineralization zone, its presence within large shear zones and the
continuous nature of the gold within these zones form the basis of
management's expectation that the ongoing drill program could lead to a
significant increase in the mineral resource at San Francisco and could
potentially also lead to the discovery of additional satellite deposits
within the existing land package.
The samples collected during the drilling were prepared and assayed in the
San Francisco Mine assay laboratory using fire assay and gravimetric
finish. Strict sampling and QA-QC protocol were followed to ensure the best
practices in sampling and analysis of the drill samples. Duplicates,
standards and blanks were inserted into the sampling stream at intervals of
25 samples. A minimum of fifteen percent of the pulps assayed in the mine
lab were also sent to IPL-Inspectorate Lab, for check assays and a minimum
of ten per cent of the original samples assayed by IPL will be sent to
other independent labs for check assays. The check assays were cross
referenced to the mine assays and verified the results.
About Timmins Gold
Timmins Gold Corp is a gold production and development company. In April
2010, Timmins Gold commenced commercial production at its wholly owned San
Francisco gold mine in Sonora, Mexico. Timmins Gold has projected
production at a rate of approximately 100,000 ounces of gold per year at a
life of mine cash cost of approximately $489 per ounce. (Micon International Preliminary Feasibility Study,
November 2010).
This press release was reviewed and prepared by Lawrence A. Dick, Ph.D., P.Geo, a director of the Company, who is recognized as
a Qualified Person under the guidelines of National Instrument 43-101 and
by Miguel Soto, P. Geo., a director and the COO of the Company. For further
information contact Timmins Gold Corp. at 604-682-4002 or go to the website
at www.timminsgold.com.
On behalf of the Board:
Bruce Bragagnolo, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com
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While these forward-looking statements, and any assumptions upon which
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