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Re: News Release - Tuesday, March 17, 2009
Tournigan Begins Preliminary Assessment at High-Grade Kuriskova
Uranium Deposit
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Vancouver, March 17, 2009 - Tournigan Energy Ltd. (TVC: TSX-V; TGP:
Frankfurt) announced today that the company has awarded Pincock Allen
Holt (PAH) of Lakewood, Colorado a contract for the preparation of an
NI 43-101 compliant preliminary assessment (scoping study) of its
Kuriskova uranium deposit in eastern Slovakia. The work is to commence
immediately with its results expected to be completed by June 2009.
Tournigan has also retained Resource Development Inc. (RDI) of
Wheatridge, Colorado for metallurgical testing of Kuriskova samples,
the results of which will be incorporated into the preliminarily
assessment. In addition to the recovery of uranium, the metallurgical
test work will also examine the recovery of molybdenum as a byproduct.
The result of the studies will provide insight into a mine plan and
processing plant flow-sheet for Kuriskova. It will also provide a basis
for determining capital and operating costs, project economics and will
identify the environmental and permitting aspects of the project.
"Awarding these contracts represents a key milestone for the
development of the Kuriskova uranium deposit," said Dorian L. (Dusty)
Nicol, Tournigan's president and CEO. "Our resource update, released
February 24, 2009 demonstrated more than a doubling of pounds of
uranium oxide in the indicated resource and increased the indicated
grade to 0.558 percent uranium oxide. We expect that at this grade,
the results of the preliminary assessment will demonstrate an
attractive project with robust economics. Assuming a positive
preliminary assessment report, our plans are to initiate a
pre-feasibility study which is expected to be completed in the first
half of 2010. We are pleased to be working with PAH and RDI, both
well-regarded firms known for their high standards, at this important
stage of the development of our flagship property in Slovakia."
About Tournigan Energy Ltd.
Tournigan Energy is a uranium and gold exploration and development
company that has built a portfolio of highly prospective assets in
Europe. The company has focused its development and obtained licences
in Slovakia, a member of the European Union since 2004. Slovakia is
economically and politically stable, has excellent infrastructure, an
educated population and, as of January 1, 2009, has adopted the Euro
currency. Tournigan Energy is committed to safe and sustainable
exploration and mine development in Slovakia and its other operational
jurisdictions.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made herein,
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
Corporation'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.
The TSX Venture Exchange does not accept 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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Tournigan Energy Limited
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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 CA$ 5.2 millions as of today (US$ 4.2 millions, € 3.9 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 4.50, and its lowest recent point on February 17, 2023 at CA$ 0.02. Tournigan Energy Ltd. has 208 018 000 shares outstanding. |