Timmins Gold Announces Initial Drill Results
from the Norma Gold Property
Timmins Gold Corp. (TMM, TSX-V) announces results of a first phase reverse
circulation drill program on geological, geochemical and geophysical
targets at the Norma gold-silver property. The property comprises a 15,687
Ha exploration concession, and is 100% owned by Timmins Gold. The Norma
property is located approximately 20 km NW of the Company's San Francisco
mine and surrounding exploration lands, and approximately 40 km SE of
Capital Gold's El Chanate mine, both of which are
located within the highly prospective Sonora-Mojave Megashear
structural province in northern Sonora, Mexico.
Highlights of the assays received from the 2,090 meters of drilling in 16
reverse circulation drill holes completed during December, 2010 include the
following:
- RCN-04 grades 14 g/t Au over a 3.05 meter interval beginning at
a depth of 81.0 meters and includes a 1.5 meter interval grading 27.9
g/t Au; with a second interval grading 1.16 g/t Au and 36.4 g/t Ag
over a 13.7 meter interval beginning at 123.4 meters depth, (including
a 4.6 meter interval grading 3.21 g/t gold and 73 g/t Ag.
- RCN-14 grades 1.02 g/t Au over a 4.6 meter interval beginning
at 21.3 meters depth.
- RCN-03 grades 0.81 g/t Au and 12.3 g/t Ag over a 13.4 meter
interval and includes a 1.56 meter interval grading 5.47 g/t Au and
33.9 g/t Ag.
Numerous
historical prospects have been identified within a NW-trending corridor
within the property boundary. Numerous drill targets, including those
drilled during this initial drill phase, have been identified on the basis
of geological, geochemical, and geophysical surveys. Target criteria have
been generated from the Company's geological understanding of the district.
These criteria are based on experience gained from operating and
exploration success at the San Francisco gold mine and surrounding areas,
located approximately 20 km SW of Norma, in a very similar geological
environment.
Drilling was carried out in approximately 250 meter spacings
over a 2 km strike length of altered and geochemically-anomalous outcrops
consisting of metasedimentary rocks intruded by
dykes, sills, and quartz stockworks. Numerous
historical workings have been excavated within silicified zones.
Timmins exploration staff are highly encouraged by
the results of the recent drill program. The discovery of mineralization at
a distance of 20 km from the San Francisco mine along a major structural
trend provides evidence of the potential of the area. The tenor of the
assay results from this first phase of drilling, combined with the
similarities between the geological setting and style of mineralization at
Norma and the Company's San Francisco mine, indicate that follow-up
drilling both along strike and as infill drilling is clearly warranted.
The following table shows the significant mineral interceptions of the
drill program on the Norma property.
Mineral Interceptions Drill Program on the Norma Property
Drill Hole
Number
|
Depth
(m)
|
From
(m)
|
To (m)
|
True Width
(m)
|
Au
g/t
|
Ag
g/t
|
RCN-03
|
123.44
|
41.15
|
54.86
|
13.41
|
0.81
|
12.3
|
includes
|
41.15
|
47.24
|
6.09
|
1.44
|
15.2
|
includes
|
41.15
|
42.67
|
1.52
|
5.47
|
33.9
|
and
|
82.30
|
88.39
|
6.09
|
0.66
|
9.8
|
includes
|
83.82
|
86.87
|
3.05
|
1.18
|
10.6
|
RCN-04
|
152.39
|
80.76
|
83.81
|
3.05
|
14.00
|
6.9
|
includes
|
80.76
|
82.29
|
1.52
|
27.90
|
11.7
|
and
|
123.44
|
137.15
|
13.71
|
1.16
|
36.4
|
includes
|
129.53
|
137.15
|
7.62
|
1.97
|
52.1
|
includes
|
132.58
|
137.15
|
4.57
|
3.21
|
73.0
|
RCN-05
|
121.92
|
96.01
|
102.11
|
6.09
|
0.32
|
17.9
|
includes
|
96.01
|
99.06
|
3.05
|
0.42
|
19.8
|
RCN-11
|
149.35
|
118.87
|
121.92
|
3.05
|
0.66
|
pending
|
includes
|
120.40
|
121.92
|
1.52
|
1.30
|
pending
|
RCN-12
|
121.92
|
48.77
|
51.82
|
3.05
|
0.32
|
pending
|
includes
|
48.77
|
50.29
|
1.52
|
0.60
|
pending
|
RCB-14
|
60.96
|
21.34
|
25.91
|
4.57
|
1.02
|
pending
|
includes
|
22.86
|
24.38
|
1.52
|
2.66
|
pending
|
RCN-16
|
137.16
|
25.91
|
27.43
|
1.52
|
0.39
|
pending
|
and
|
102.11
|
103.63
|
1.52
|
0.35
|
pending
|
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
Neither TSX Venture Exchange nor
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While these forward-looking statements, and any assumptions upon which
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forward-looking statements to conform these statements to actual results.
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