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TNR Gold Corp

Publié le 03 juin 2008

Argentina Exploration Updates

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Mots clés associés :   Copper | Precious Metals |

June 2, 2008

ARGENTINA EXPLORATION UPDATE

 

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TNR Gold Corp is pleased to provide the following update on the company?s exploration activities in Argentina, which emphasizes TNR?s strategic focus on gold and copper exploration in Argentina.

 

The 2008 exploration plans include a minimum of 14,000 metres of drilling on three of our properties including the El Salto, the El Tapau and the Eureka.

 

EL SALTO

 

A total of 4,000 metres in 9 holes have been drilled to date on the Company?s El Salto property, which is part of a 10,500 metres drilling campaign initiated in late November 2007. All 9 holes intersected intended geophysical/geological targets with variable sulphide mineralization intercepts consisting of mainly pyrite, chalcopyrite and molybdenite. To date approximately 1078 core samples were sawed off from 4 holes and submitted to Alex Stewart Assayers (ISO9002) in Argentina for multi-element analyses.

 

This drilling program is intended to systematically test the highly prospective, northwest trending alteration zone (approximately 6 km long by 1 km wide) potentially associated with economic grade porphyry-style Cu-Mo mineralization on the property. The alteration zone, partly coincident with IP chargeability anomalies, extends from northwest to southeast within the central part of the property, and characterized by intense brecciation, quartz stockwork, and phyllic and potassic alteration. Recent exploration work (e.g., mapping, lithogeochemical sampling and 3D IP survey) by TNR prior to this drilling campaign indicated widespread porphyry-style copper-molybdenum mineralization, which is the main basis of the current drilling campaign.

 

 The company?s geologists believe that the remaining holes in the first phase can be more effectively located once the results have been obtained for the first 12 holes. Therefore, the contracted drill rig will be moved to the El Tapau property to commence a planned 3000 metre drill program. This will allow time for a detailed analysis of the 12 drill holes. The company then plans to resume drilling with a second drill rig after these results have been received and announced to the public.

 

Gary Schellenberg, president of TNR, states ?The exploration program thus far has confirmed that the El Salto property contains a large mineralized system with all 9 holes drilled encountering variable amounts of pyrite, chalcopyrite, and molybdenite mineralization. Given the increasing size of this target it is imperative to analyze all available data to direct further drilling. This gives us a good opportunity to commence drilling our El Tapau project immediately.?

 

The El Salto property, consisting of 3300 hectares in the San Juan Province, is located within the ?Yellow Belt? district of San Juan which is hosting the two well-known copper deposits, the El Pachon Deposit (724 MT @0.65% Cu) in Argentina and, the Los Pelambres Mine (1487 MT @0.66% Cu) in Chile near the Chile-Argentine border (Falconbridge/Xstrata and Antofagasta web sites).

 

 

EL TAPAU

 

The El Tapau copper-gold property, occurring within the eastern Andes of the San Juan Province, is strategically located approximately 50 km north-northwest of El Salto property.

 

In 2007, a 3D IP survey and limited mapping and litho-geochemical sampling program were conducted in selected areas of the property. A second phase of the geological survey consisting of mapping and sampling programs that initiated in early 2008 was based on the encouraging results obtained from the previous year?s exploration program. The current 2008 exploration program, covering larger than last year?s area, consists of LAG/soil, stream sediment and bedrock sampling. The bedrock sampling consisted of both rock chip and channel sampling. With the exception of stream sediments, all sampling concentrated mainly in the west-central part of the property where previous operator Petra Gold in 2006 outlined 2500m by 1000m area of auriferous quartz vein system. Systemic bedrock sampling by the company obtained values ranging from trace to 19 g/t gold, averaging 2.2 g/t gold from 157 rock sample sites. 

 

Soil, LAG, rock chip and channel sampling in 2008 by TNR yielded very encouraging results in terms of both porphyry-style copper-gold mineralization in the northeast, and a potentially lode gold system in the west-central parts of the property. This assessment is based on both previous work and available partial results under the current program. Under the current program, 242 Soil and LAG samples have been collected and analyzed from the gold vein area. Of the 242, a majority of the samples yielded anomalous gold values (5-548 ppb in soil and 5-2009 ppb in LAG). Of the 88 rock chip and channel samples, also collected from the same quartz vein area, the majority returned anomalous to highly anomalous gold values (0.10 g/t to 6.03 g/t gold). The results of stream sediment samples are pending. Based on these and previous sampling results, a 3000 metre diamond drill program is planned to commence in the next 2-3 weeks in order to test both gold vein area in the west-central, and porphyry copper-gold targets in the northeastern corner of the property where historical drilling intersected up to 0.7% copper in the porphyry intrusion.

 

 

EUREKA

The 10,192 hectare historic Eureka mine property, an exotic copper-gold prospect, is located in the Jujuy Province of northwestern Argentina near the border with Bolivia.

The company has recently completed a regional stream sediment sampling program over the entire property. In total 557 samples were sent to Act Labs in Ontario. Dr. Riva, a sedimentologist was hired to conduct the geological mapping and gain an understanding of the mineralization events on the property. We anticipate his final report will be ready in approximately a month.   Phase II Exploration will commence upon receipt of permits and will include trenching and underground sampling.

ABOUT TNR GOLD CORP.

TNR is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 17 properties in Argentina and Alaska. The company's focus over the next 12 months is the exploration and development of its Eureka, El Salto, and El Tapau in Argentina and Shotgun project in Alaska.

This news release has been prepared under the supervision of Ike Osmani, P.Geo, TNR's qualified person on this news release.

 

On behalf of the board,

 

Gary Schellenberg

President

 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company?s future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company?s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

 

 

_______________________________

 

Regards,

 

Jerry Huang

Investor Relations

TNR Gold Corp. (TNR.V)

620-650 West Georgia St

Vancouver BC V6B 4N9

Tel 604-687-7551

Fax 604-687-4670

http://www.tnrgoldcorp.com/

 

 

TNR Gold Corp

EXPLORATEUR
CODE : TNR.V
ISIN : CA87262G1046
CUSIP : 87260X 109
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TNR est une société développant des projet miniers d'or basée au Canada.

TNR détient divers projets d'exploration en Argentine.

Ses principaux projets en exploration sont MOOSE 2, FISH LAKE VALLEY, MUD LAKE BASIN, FORGAN LAKE, NIEMI LAKE, ILLIAMNA - BRISTOL et MAVIS LAKE au Canada, BLACKSTAIRS en Irlande et NORTHERN PROPERTIES, MARIANA (TNR), BATIDERO GOLD, LA CAROLINA, LAS CARACHAS, LA ORTIGA, EL TAPAU, EL SALTO ARGENTINA, EUREKA ARGENTINA, SHOTGUN et LOS AZULES ARGENTINA en Argentine.

TNR est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 6,7 millions CA$ (5,4 millions US$, 4,7 millions €).

La valeur de son action a atteint son plus haut niveau récent le 15 juin 2001 à 0,85 CA$, et son plus bas niveau récent le 06 novembre 2015 à 0,01 CA$.

TNR possède 149 820 000 actions en circulation.

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