=======================================================================
Re: News Release - Thursday, October 01, 2009
Tournigan Resumes Drilling at Kuriskova Uranium Deposit
=======================================================================
Vancouver, October 1, 2009 - Tournigan Energy Ltd. (TVC: TSX-V; TGP:
Frankfurt) announces that drilling has resumed on its Kuriskova uranium
deposit in Slovakia. One drill rig has mobilized to site and begun
drilling; a second drill rig is being mobilized and will arrive at site
shortly. The initial drill program will comprise about 5,000 metres of
step-out and infill drilling intended to expand and upgrade the
Kuriskova uranium resource. Results of this initial program will help
define and plan subsequent drilling to be done in 2009 and early 2010.
The complete program will total about 14,000 metres.
The objective of the program will be to continue expanding the
Kuriskova resource, to upgrade a significant portion of the inferred
resource to the indicated category, to increase the overall grade of
the deposit and to provide subsurface geotechnical and hydrogeological
data to be used for engineering design. The resulting updated resource
estimate will provide the basis for the reserve estimate in the
Kuriskova Project pre-feasibility study Tournigan intends to begin
shortly.
The first holes to be drilled are step-out holes adjacent to a
high-grade portion of indicated resource in Kuriskova's Main Zone (see
map at http://www.tournigan.com/i/pdf/tvc-explo-sept09.pdf). Drill
holes near the boundary of this zone intercepted high-grade uranium
mineralization (LH-K-10A: 6.5 metres @ 2.16% U3O8; LH-K-12A: 2.35
metres @ 1.38% U3O8; and LH-K-14A: 6.0 metres @ 0.79% U3O8) which
remains open and appears to be getting shallower to the northeast. The
initial holes will test for extensions to this mineralization;
subsequent step-out drilling in this zone will be planned to test for
further extensions if initial results warrant.
The currently defined Kuriskova resource, disclosed in a news release
dated February 24, 2009, is 14.65 million pounds U3O8 at 0.558% U3O8
indicated and 17.90 million pounds U3O8 inferred at 0.215% U3O8 using a
cut-off of 0.05%U (SRK Consulting US).
The deposit remains open along strike and at depth. Several exploration
targets have been identified in the immediate area of the currently
defined resource (see map). These could represent extensions to the
known mineralization and/or satellite uranium deposits and will be
tested during this and the next phases of drilling.
Dorian L. (Dusty) Nicol, M.A. Geo, Tournigan's president and CEO, and a
Qualified Person as defined by NI 43-101, has reviewed and approved the
technical disclosure contained in this news release.
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, as of January 1,
2009, has adopted the Euro currency. Tournigan is committed to safe and
sustainable exploration and mine development in Slovakia. In addition
to Kuriskova, Tournigan has five 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.
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.
=======================================================================
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
=======================================================================
.
<
|
Tournigan Energy Limited
|
|
EXPLORATION STAGE |
CODE : TVC.V |
ISIN : CA8915651035 |
|
| |
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, € 3.6 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. |