Timmins Gold intersects 4.57 metres grading 8.134 grams per tonne
gold
Timmins Gold Corp. (TSX:TMM) is pleased to announce that additional
mineralized zones were intercepted during the month of July, 2011 from the
ongoing drill program at its San Francisco mine open pit gold mine in the
state of Sonora, Mexico.
During July the Company completed 95 drill holes totalling
20,103 meters of drilling. Drill results have confirmed that the
mineralized zones continue both beneath the currently planned pit bottom
and outside the perimeter of the currently planned pit limit. A series of
holes drilled on the south wall of the pit confirmed the up dip continuity
of the mineralized zones recently intersected beneath the currently planned
pit bottom. For example, Hole TF-1312 drilled on the south wall intersected
several mineralized zones including 12.19 meters with a grade of 2.631 gpt gold.
Drilling at the La Chicharra open pit which is
two kilometers from the San Francisco pit also intersected gold
mineralization. Results from the La Chicharra
drilling will be released shortly.
The Company is completing an aggressive 100,000 meter exploration program
which commenced at the beginning of July, 2011 and is expected to be
completed at the end of the calendar year.
Highlights from selected drill holes from the July results at the San
Francisco mine open pit are as follows:
Drill Hole
Number
|
Depth
(m)
|
Section
Line
|
Mineral Drill Intersections
|
From
(m)
|
To
(m)
|
True Width
(m)
|
Au,
g/t
|
TF-1309
|
118.87
|
820 W
|
38.10
|
41.15
|
3.05
|
3.409
|
|
includes
|
38.10
|
39.62
|
1.52
|
6.275
|
|
and
|
77.72
|
88.39
|
10.67
|
0.561
|
|
includes
|
80.77
|
82.30
|
1.52
|
2.616
|
|
and
|
97.54
|
106.68
|
9.14
|
0.776
|
|
includes
|
103.63
|
105.16
|
1.52
|
3.005
|
|
and
|
111.25
|
112.78
|
1.52
|
0.308
|
TF-1311
|
152.4
|
420 W
|
89.92
|
100.58
|
10.66
|
1.980
|
TF-1312
|
228.6
|
460 W
|
201.17
|
213.36
|
12.19
|
2.631
|
TF-1313
|
152.4
|
880 W
|
1.52
|
21.34
|
19.82
|
0.638
|
|
and
|
80.77
|
85.34
|
4.57
|
2.375
|
TF-1315
|
182.88
|
640 W
|
121.92
|
126.49
|
4.57
|
0.491
|
|
and
|
131.06
|
161.54
|
30.48
|
0.600
|
TF-1317
|
234.69
|
900 W
|
106.68
|
115.82
|
9.14
|
3.203
|
|
includes
|
108.20
|
111.25
|
3.05
|
8.181
|
TF-1318
|
252.96
|
560 W
|
100.58
|
114.30
|
13.72
|
3.311
|
|
includes
|
100.58
|
105.16
|
4.57
|
8.134
|
TF-1319
|
252.96
|
620 W
|
128.02
|
137.16
|
9.14
|
0.981
|
TF-1321
|
155.45
|
500 W
|
120.40
|
129.54
|
9.14
|
0.987
|
TF-1322
|
155.45
|
500 W
|
106.68
|
120.40
|
13.72
|
1.078
|
TF-1323
|
256.03
|
520 W
|
73.15
|
85.34
|
12.19
|
1.447
|
|
and
|
91.44
|
105.16
|
13.72
|
1.309
|
|
and
|
124.97
|
131.06
|
6.10
|
0.738
|
|
and
|
146.30
|
158.50
|
12.19
|
0.432
|
|
and
|
242.32
|
249.94
|
7.62
|
0.731
|
TF-1324
|
268.22
|
440 W
|
164.59
|
167.64
|
3.05
|
6.110
|
Deep core drilling designed to find the main feeder system for the gold
mineralization at the pit and regionally, intercepted mineralization
starting at a depth of 178 meters and continuing to a depth of 835 meters.
For more detailed drill hole intersections and a drill hole plan map,
please click on the following link; http://www.timminsgold.com/i/maps/2011-08-22_NR-Files2.pdf.
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 by the Company and
assayed by IPL-Inspectorate Lab 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.
The Company has engaged independent consulting firm Micon
International Inc. of Toronto to provide an updated NI 43-101 Reserve and
Resource Estimate which will incorporate assay results obtained from over
85,000 metres of drilling conducted from June 30,
2010 to July 31, 2011.
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 nor its Regulation Services Provider (as that term is
defined in the policies of the TSX accepts responsibility for the adequacy
or accuracy of this release.
This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events. Such statements
include estimates, forecasts and statements as to management's expectations
with respect to, among other things, business and financial prospects,
financial multiples and accretion estimates, future trends, plans,
strategies, objectives and expectations, including with respect to
production, exploration drilling, exploitation activities and events or
future operations. Information inferred from the interpretation of drilling
results and information concerning mineral resource estimates may also be
deemed to be forward-looking statements, as it constitutes a prediction of
what might be found to be present when, and if, a project is actually
developed.
In some cases, you can identify forward-looking statements by
terminology such as "may", "should",
"expects", "plans, "anticipates", believes",
"estimates", "predicts", "potential", or
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industry's actual results, level of activity, performance or achievements
to be materially different from any future results, levels of activity,
performance, or achievements expressed or implied by these forward-looking
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While these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current judgment
regarding the direction of our business, actual results will almost always
vary, sometimes materially, from any estimates, predictions, projections,
assumptions or other future performance suggestions herein. Except as
required by applicable law, Timmins Gold does not intend to update any
forward-looking statements to conform these statements to actual results.
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