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Tournigan Discovers New High Grade Uranium, Confirms Historical
Data at Novoveska Huta, Slovakia
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Vancouver, June 11, 2008 -- Tournigan Energy Ltd. (TVC:TSX-V; TGP:
Frankfurt) today reported drill results taken from 12
Diamond drill
holes totaling 5,540 metres on its Novoveska Huta uranium deposit in
Eastern Slovakia. The holes, drilled to depths of between 200 to 657
metres, were designed to twin historical holes as well as explore the
deposit to the east and provide structural analysis of the deposit.
The company continues to intercept significant thicknesses and uranium
grades on the deposit which confirms historical data and extends the
resource. Notably, new high grade material, including 7.6 metres of
0.399 %eU308, was discovered in hole LH-NH-4, approximately 600 metres
east of the historical underground workings. Additional mineralization
was also intersected in LH-NH-11 a further 175 metres east of LH-NH-4.
Highlights from the downhole radiometric logging include:
Hole From To Length eU3O8%
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LH-NH-4 494.2 501.8 7.6 0.399
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including 494.3 497.3 3.0 0.791
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LH-NH-13 287.4 326.1 38.7 0.132
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including 289.9 294.4 4.5 0.241
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including 296.9 305.3 8.4 0.220
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LH-NH-11 605.3 618.5 13.2 0.158
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including 605.3 614.3 9.0 0.194
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including 609.6 611.7 2.1 0.299
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LH-NH-8 359.9 371.1 11.2 0.107
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including 362.4 366.3 3.9 0.201
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LH-NH-1 360.3 365.2 4.9 0.115
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LH-NH-1 374.9 380.5 5.6 0.161
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LH-NH-9 386.1 395.4 9.3 0.103
Details of the 12-hole program are listed in Appendix A or may be
viewed on Tournigan's web site:
http://www.tournigan.com/i/pdf/2008-06-11_NR-Appendix-A.pdf.
A plan map detailing hole locations and previous underground workings
may be viewed from the link below:
http://www.tournigan.com/i/maps/2008-06-11_NRM.jpg
"This drill campaign has confirmed and in many cases improved upon the
results from historic drilling," said Tournigan President, James
Walchuck. "We are especially encouraged by the new higher grade
mineralization found further to the east of the historical deposit."
Previous work on the property included 5.5 km of underground
development and test workings on five vertical levels and 43 deep-drill
holes which were the source for a historical estimate by Uranpres
s.r.o. in 2005. The historical resource estimate at Novoveska Huta
reported 19,970,000 pounds of uranium contained in 12 million tonnes at
an average grade of 0.075% U308 (cutoff grade 0.015% U308).*
Tournigan will analyze the data from 662 chip samples, the historic
drill holes and its own drill campaign to build an updated resource
model on the deposit, which will provide the basis for a NI 43-101
estimate by fourth quarter, 2008.
The drill results reported are from one hole drilled in 2006, nine
drilled in 2007 and two in 2008. Two holes did not encounter
significant mineralization. Hole LH-NH-5 was drilled to verify
mineralization in the tectonic zone and Hole LH-NH-6 was drilled to
verify continuity of deposit to the west. Tournigan is now focusing on
exploring the deposit to the east of the previous workings.
The uranium grades referred to above are reported as equivalent uranium
(eU308) as determined by downhole radiometric logging equipment. The
logging was performed by Koral, s.r.o. of Slovakia. Quality control and
quality assurance is being provided by Ravi Sharma, Tournigan's Manager
Resources and Reserves.
Joseph Ringwald PEng., Tournigan's VP Sustainable Development is a
Qualified Person as defined by National Instrument 43-101 and has
reviewed and approved the technical disclosure contained herein.
On behalf of the Board of Directors of
TOURNIGAN ENERGY LTD.
"James Walchuck"
James Walchuck, President and CEO
* The Company has reviewed the above historical resource estimates and
views them relevant. The Company believes that the historical resource
estimates are reliable based on the historic exploitation of Slovak
deposits in general and metallurgical test records acquired with the
Company's deposits in particular. The above Slovak Resource Category is
a combination of P and Z-3, which is roughly analogous to the Canadian
Institute of Mining, Metallurgy and Petroleum's definition for Inferred
Resources. The Company has not, however, done the work necessary to
verify the classification of the resources and the resources are not
classified according to CIM's Standards on Mineral Resources and
Reserves Definitions. Investors are cautioned not to rely upon these
estimates. Uranium metal (U) grades were converted to uranium oxide
(U3O8) grades using a factor of 1.17924.
Forward-looking statements: Certain of the statements made herein,
including any information as to the Corporation'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
Corporation 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.
Cautionary Note to U.S. Investors -- The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce. We use certain terms
in this news release, such as "measured", "indicated", and "inferred"
"resources", which the SEC guidelines strictly prohibit U.S. registered
companies from including in their filings with the SEC. U.S. investors
are urged to consider closely the disclosure in our Form 40-F which may
be secured from us, or from the SEC's website at
>em>http://www.sec.gov/edgar.shtml
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For further information please contact:
Knox Henderson, Tournigan Investor Relations, at (604) 637-3563, or
visit www.tournigan.com.
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Copyright (c) 2008 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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