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TintinaGold Resources Inc. ("TintinaGold" or the "Company") (TSX-V:TAU - News) is pleased to announce that
it has completed its 2010 verification drill program on its Sheep Creek
Copper-Cobalt property ("Sheep Creek") located in Central Montana,
USA (see Figure 1).
Highlights:
-- New drilling verifies seven high grade copper-cobalt intersections with
up to 8.72% Cu over 6.35 meters and 10.84% Cu over 4.05 meters in
historic resource area.
The Company has received all the high
grade copper-cobalt assay results from its 2010 drilling program which verify
certain historic drilling results at its Sheep Creek property in central
Montana, USA (see Table 1, below).
Verification drill holes were placed
approximately three meters from the collars of selected historic holes
(Figure 1) within the area of a historic resource at Sheep Creek
(non-compliant with 43-101 standards). Holes were completed with HQ
(2.5") diameter core, except for SC10-005 which was completed with NWT
(2.25") diameter core. The verification drilling successfully
encountered each expected copper-cobalt mineralized interval at the expected
depth and with the expected thickness and grade reported from historic
drilling. Two mineralized zones were verified (see Figure 2): the 'Upper
Copper Zone', a shallow tabular layer of copper-cobalt mineralization with
bands of massive chalcopyrite concentrated within a fine grained massive
pyritic sulfide layer in a shale and debris flow conglomerate host, lies at
depths ranging from 50 meters to 150 meters and reaches 13.1 meters thick;
and the 'Lower Copper Zone' also containing high concentrations of copper and
cobalt in sulfide layers lying at depths from 400 meters to 460 meters, and
reaching 12.5 meters in thickness.
Table 1 - Historic and Verification
Drill Intersections:
Hole From (m) To (m) Width (m) Width (ft) Cu % Co %
---- -------- ------ --------- ---------- ---- ----
Upper Copper Zone
-----------------
---------------------------------------------------------------------------
SCC-17 130.79 137.50 6.70 22.00 2.76 0.19
SC10-003(i) 131.88 139.50 7.62 25.00 3.21 0.17
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SCC-19 115.24 123.78 8.50 28.00 3.05 0.18
SC10-001(i) 118.26 125.00 6.74 22.10 3.44 0.18
---------------------------------------------------------------------------
SCC-22 115.24 117.68 2.4 8.0 1.25 0.04
---------------------------------------------------------------------------
SCC-23 132.62 140.55 7.90 26.00 3.62 0.54
SC10-002(i) 131.31 138.77 7.46 24.50 2.48 0.36
---------------------------------------------------------------------------
SCC-25 39.63 44.21 4.60 15.00 1.31 0.01
SCC-30 92.38 96.65 4.30 14.00 2.84 0.17
SCC-33 112.80 125.91 13.10 43.00 2.18 0.15
---------------------------------------------------------------------------
SCC-34 108.23 119.82 11.60 38.00 2.24 0.13
SC10-004(i) 107.90 118.41 10.51 34.50 3.03 0.15
---------------------------------------------------------------------------
SCC-36 31.40 42.38 11.00 36.00 2.30 0.10
SCC-37 208.54 209.76 1.2 4.0 2.06 0.09
SCC-38 125.00 127.29 2.3 7.5 2.06 0.06
SCC-40 71.95 78.05 6.10 20.00 2.46 0.09
SCC-41 105.79 117.68 11.90 39.00 2.05 0.07
SC-62 121.19 132.77 11.60 38.00 1.99 0.17
SC-63 80.95 84.60 3.70 12.00 1.78 0.14
SC-64 118.90 123.93 5.00 16.50 3.25 0.10
SC-71 168.29 171.95 3.70 12.00 2.03 0.03
Lower Copper Zone
-----------------
---------------------------------------------------------------------------
SCC-17 355.79 358.23 2.40 8.00 6.82 0.05
SC10-003(i) 350.02 351.69 1.67 5.60 3.24 0.05
---------------------------------------------------------------------------
SCC-21 394.66 400.76 6.10 20.00 4.78 0.04
---------------------------------------------------------------------------
SCC-34 413.72 417.38 3.70 12.00 9.84 0.10
SC10-004(i) 414.00 418.05 4.05 13.30 10.84 0.03
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SCC-46 400.46 412.87 12.40 40.70 5.71 0.03
SC10-005(i) 405.80 412.15 6.35 20.80 8.72 0.11
---------------------------------------------------------------------------
SC-50 367.99 370.43 2.40 8.00 7.77 0.01
SC-51 397.71 404.88 7.20 23.50 5.79 0.01
SC-55 463.72 470.40 6.70 21.90 10.17 0.01
SC-57 482.62 484.36 1.70 5.70 12.79 0.02
SC-90 383.35 384.63 1.30 4.20 11.49 0.02
(i)-TintinaGold's drill holes from verification drilling campaign.
The historic results tabled above (Table
1) were from the 20 drill holes that showed significant mineralization (out
of a total of 42 drillholes) completed by Cominco
American Inc., BHP, and Utah International between 1985 and 1989 in the
historic resource area (Figure 1). All drill intersections represent
approximate true thicknesses in the gently dipping mineralized zones.
Historic resources calculated by earlier operators are non-compliant with NI
43-101 standards and are not being relied upon for resource estimation
purposes. The Company is working with Mike Lechner,
an independent Qualified Person as defined by NI 43-101, and plans to
establish a NI 43-101 compliant resource based on a thorough review of all
historic core, which has been well preserved, and the new verification drill
program completed by the Company. The new resource estimate is expected by
year end. The Company plans to complete additional infill drilling to improve
resource definition to establish Measured and Indicated resources and a
Preliminary Economic Assessment, as well as additional exploration drilling
to expand known resource areas and evaluate other copper targets on the
property to build additional resources. Meanwhile, drilling continues on hole
SC10-006 which targets a mineralization situated 2.5 kilometers southeast of
the historically defined resource area.
Jerry Zieg,
Vice President of Exploration, said "I'm very pleased that our
verification drill program has been successful as it has confirmed historic
drill results. During this process we've also had a very positive
re-evaluation of exploration potential on our property and we're looking
forward to outlining new resources at Sheep Creek this winter."
Jerry Zieg,
Vice President of Exploration for the Company is a Qualified Person for the
purposes of National Instrument 43-101 and has reviewed and approved the
information of a scientific nature contained in this news release. Assays for
this program have been completed by ALS Chemex
including duplicates, standards, and blanks for QA/QC purposes.
About Sheep Creek
The Sheep Creek deposit sits 27 km north
of White Sulphur Springs along maintained gravel
road and within two miles of U.S. Highway 89. The Sheep Creek property
consists of approximately 5,775 acres of fee - simple lands and mining claims
in central Montana. The property contains sediment - hosted zones of massive
sulfide mineralization originally explored by Cominco American Inc. and BHP
during the 1980's and early 1990's. The drilling undertaken by Cominco
American Inc. and BHP had encountered significant zones of stratabound copper sulfide with cobalt in multiple bedded
pyrite zones in the lower part of the Precambrian Belt Supergroup;
this same stratigraphic unit hosts the Sullivan
zinc-lead-silver deposit.
About TintinaGold
TintinaGold is a growth company focused on the
exploration and development of precious and base metal properties around the
world. The Company's experienced management team has assembled an impressive
portfolio of gold and base metal projects in Alaska, including the Colorado
Creek gold project, located in southwest Alaska approximately 100 miles
northwest of the 40 million ounce Donlin Creek
project, the Kugruk copper project located 70 miles
north of Nome in the northern Seward Peninsula, Alaska, and the Sheep Creek
copper-cobalt property in Montana. The Company, in a short period of time,
has successfully established itself in several of the most prolific mineral
belts in North America.
Website: www.tintinagold.com
ON BEHALF OF THE BOARD OF DIRECTORS
Raj Chowdhry,
C.A., President & CEO
Cautionary Note Regarding
Forward-Looking Statements: Certain disclosure in this release, including
statements regarding the Company's plans for and intentions with respect to
exploration of the Company's Sheep Creek property, constitutes
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and Canadian
securities legislation. In making the forward-looking statements in this
release, the Company has applied certain factors and assumptions that the
Company believes are reasonable, including that the Company is able to obtain
any government or other regulatory approvals and any financing required to
complete the Company's planned exploration activities, that the Company is
able to procure equipment and supplies in sufficient quantities and on a
timely basis, that the Company's exploration activities on the Sheep Creek
property will not be affected by actions of environmental activists or other
special interest groups, and that actual results of exploration activities
are consistent with management's expectations. However, the forward-looking
statements in this release are subject to numerous risks, uncertainties and
other factors relating to TintinaGold's operation
as a mineral exploration company and the Sheep Creek property that may cause
future results to differ materially from those expressed or implied in such
forward-looking statements. Such uncertainties and risks include, among
others, actual results of the Company's exploration activities being
different than those expected by management, uncertainties involved in the
interpretation of drilling results and geological tests, delays in obtaining
or inability to obtain required government or other regulatory approvals or
financing, interference with TintinaGold's
exploration activities by environmental activists or other special interest
groups, inability to procure equipment and supplies in sufficient quantities
and on a timely basis, equipment breakdowns and bad weather. There can be no
assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Readers are cautioned not to place undue reliance on
forward-looking statements. TintinaGold does not
intend, and expressly disclaims any intention or obligation to, update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
To view Figure 1, Historic drill pattern
and verification drilling, Sheep Creek, Montana, please visit the following
link: http://media3.marketwire.com/docs/tau_1118_fig_1.pdf
To view Figure 2, Cross section through
historic resource area, Sheep Creek, Montana, please visit the following
link: http://media3.marketwire.com/docs/tau_1118_fig_2.pdf
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.
Contact:
Contacts:
TintinaGold Resources Inc.
Kelsey Chin
Direct Line: 604-628-1162
604-628-1163 (FAX)
KChin@tintinagold.com
www.tintinagold.com
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