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Tournigan Awards Prefeasibility Study of Kuriskova Uranium
Deposit
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Vancouver, October 19, 2009 -- Tournigan Energy Ltd. (TVC: TSX-V; TGP:
Frankfurt) announced today that the company has awarded Tetra Tech,
Inc. of Golden, Colorado a contract for the preparation of an NI 43-101
compliant prefeasibility study of the Kuriskova uranium deposit in
eastern Slovakia. The work will begin immediately with its results
expected to be completed in the first half of 2010. Tetra Tech is a
full service consulting and engineering company to the mining industry
with 10,000 employees and 250 offices worldwide.
As part of the prefeasibility study, Tournigan has initiated a
5,000-metre drill program of step-out and infill drilling intended to
expand and upgrade the Kuriskova uranium resource. The Kuriskova
uranium deposit currently hosts an NI 43-101 compliant resource of
14.65 million pounds U3O8 indicated at 0.558% U3O8 and 17.90 million
pounds inferred at 0.215% U3O8 using a cut-off of 0.05%U (SRK
Consulting US, Feb. 2009).
The initial drill program will help define and plan subsequent drilling
to be done in 2009 and early 2010. Additionally, the program includes
drill holes for geotechnical and hydrological data collection. The
complete program will total over 15,000 metres.
The study will also incorporate metallurgical testing of representative
Kuriskova samples to optimize the recovery of uranium and molybdenum as
a byproduct.
The results of the studies will provide insight into a mine plan,
infrastructure requirements, and processing plant flow-sheet design for
Kuriskova. It will also provide a basis for determining reserves,
capital and operating costs, project economics and will address the
environmental and permitting aspects of the project.
About Tournigan
Tournigan is a uranium exploration and development company that has
built a portfolio of highly prospective assets in Slovakia, a member of
the European Union since 2004. Slovakia is economically and
politically stable, has excellent infrastructure and currently has four
nuclear reactors generating half of its electricity with two more under
construction. Tournigan is committed to safe and sustainable
exploration and mine development in Slovakia. In addition to
Kuriskova, Tournigan has several other exploration targets along the
Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made in this
release, including any information as to the Company's future financial
or operating performance, may be forward-looking and subject to
important risk factors and uncertainties, many of which are beyond the
Company's ability to control or predict. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
undertakes no obligation to update publicly or release any revisions to
forward-looking statements to reflect events or circumstances after the
date of this document or to reflect the occurrence of unanticipated
events.
Notice to US investors: This press release uses the terms "indicated
resources" and "inferred resources", which are calculated in accordance
with the Canadian National Instrument 43-101 and the Canadian Institute
of Mining and Metallurgy Classification system. We advise investors
that while those terms are recognized and required by Canadian
regulations, the U.S. Securities and Exchange Commission does not
recognize them. U.S. investors are cautioned not to assume that any
part or all of mineral deposits in these categories will ever be
converted into reserves. In addition, "Inferred resources" have a great
amount of uncertainty as to their existence, and great uncertainty as
to their economic and legal feasibility. It cannot be assumed that all
or any part of an Inferred Mineral Resource will ever be upgraded to a
higher category. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre-feasibility
studies, except in rare cases. U.S. investors are cautioned not to
assume that part or all of an inferred resource exists, or is
economically or legally minable.
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.
For further information please contact: Knox Henderson, Tournigan
Energy Investor Relations, at (604) 683-8320, or visit
www.tournigan.com.
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Copyright (c) 2009 TOURNIGAN ENERGY LTD. (TSXV-TVC) All rights
reserved. For more information visit our website at
http://www.tournigan.com/ or send mailto:info@tournigan.com
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : TVC.V |
ISIN : CA8915651035 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Tournigan Energy Ltd. is a gold and silver exploration company based in Canada. Tournigan Energy Ltd. holds various exploration projects in Slovakia. Its main exploration properties are NOVOVESKA HUTA and KURISKOVA in Slovakia and CURRAGHINALT in Ireland. Tournigan Energy Ltd. is listed in Canada, in Germany and in United States of America. Its market capitalisation is 1.2 millions as of today (US$ 948 313, € 880 072). Its stock quote reached its highest recent level on December 31, 2007 at 4.50, and its lowest recent point on February 17, 2023 at 0.02. Tournigan Energy Ltd. has 47 442 200 shares outstanding. |