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Tournigan Energy Limited

Publié le 24 février 2009

Doubles Contained Uranium and Increases Grade of Indicated Resource at Kuriskova Uranium Deposit, Sl

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Mots clés associés :   Euro | Europe | Knox | Uranium |

Re:        News Release - Tuesday, February 24, 2009
Title:     Tournigan Doubles Contained Uranium and Increases Grade of Indicated Resource at Kuriskova Uranium Deposit, Slovakia

Vancouver, February 24, 2009 - Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) has completed an updated resource estimate for the company's Kuriskova uranium deposit in Slovakia which more than doubles the amount of uranium contained in the indicated resource and significantly increases the grade of the indicated resource. SRK Consulting (U.S.), Inc. has reviewed and audited the updated resource estimate.

Highlights:
  • Tournigan's 2008 infill drilling moved 8,084,000 pounds of U308 from the inferred resource category to the better defined and more confident indicated category
  • The grade of indicated resource increased by 28% from 0.435% U308 to 0.558% U308
  • The infill drilling demonstrated the presence of an exceptionally high grade zone of uranium mineralization which remains open along both strike and dip
  • The estimate includes 3,261,000 pounds of molybdenum as a potential by-product (see table below)
The tight geological constraints that were used to model the indicated high-grade resource provide a high level of confidence in this zone while leading to a modest reduction in the number of pounds of uranium remaining in the inferred category. Exploration in or near this zone could replace or increase these pounds at a higher grade. There is also potential for further exploration drilling to increase the overall size of the deposit and for additional infill drilling to upgrade a significant additional portion of the current inferred resource to the indicated category.

"We are very excited by the results of our recent infill drilling program which led to such a dramatic increase in both size and grade of the indicated uranium resource," said Dorian L. (Dusty) Nicol, Tournigan's president and CEO. "This bodes well for the possibility of further increasing the size and quality of the deposit. This recent program was restricted to infill drilling in order to upgrade the quality of the resource as we advance Kuriskova toward feasibility.

"We emphasize that there remains great exploration upside both immediately adjacent to the Kuriskova resource and in the surrounding ground controlled by Tournigan. Our current estimated grade of 0.558% U308 compares extremely favorably with most other uranium projects currently under development with grades in the order of 0.1% to 0.2% U308. This estimate also demonstrates the presence of a significant amount of molybdenum which could represent a by-product credit. The resource estimate includes only molybdenum contained within the uranium resource."

The following tables summarize the current resource estimate:

Current Resource:

Kuriskova Resource Estimate February 2009 (SRK) � Cut-off 0.05%U *

 

U%

Tonnes
(000)

%U3O8

U3O8 lbs
(000)

Mo%

Tonnes
(000)

Mo lbs
(000)

Total Indicated (Main zone )

0.473

1,191

0.558

14,654

 

 

 

Total Inferred
(Main and HW zones)

0.182

3,780

0.215

17,901

0.030

4,897

3,261


* Mo resource numbers represent Mo associated with Uranium resource blocks above a 0.05%U cutoff

Previous Resource:

Kuriskova Resource Estimate July 2008 (SRK) � Cut-off 0.05%U

Classification

U%

Tonnes
(000)

U3O8%

U3O8 lbs
(000)

Indicated

0.369

685

0.435

6,570

Inferred

0.254

4,568

0.299

30,131



A complete table of the new resource estimate prepared by Tournigan and reviewed, audited and approved by SRK, can be found in Appendix A or by visiting Tournigan's web site from this link: http://www.tournigan.com/i/pdf/KuriskovaResourceFeb09AppendixA.pdf..

A longitudinal projection showing drill hole locations and interval grades is available from Appendix B or can be viewed from this link: http://www.tournigan.com/i/pdf/KuriskovaVLP.pdf.

The updated estimate incorporates the results of 23 diamond drill holes totaling 9,267 metres that were drilled since the last resource estimate previously disclosed in a news release dated July 16, 2008. The estimate was prepared by Ravi Sharma, Tournigan's manager of resources and reserves, under the supervision of SRK, who are preparing an NI 43-101 Technical Report to be filed on SEDAR within 45 days of the date of this news release. Allan V. Moran, principal geologist and Frank Daviess, principal resource geologist, who reviewed, audited and approved the current resource estimate, are both with SRK and are independent Qualified Persons as defined by NI 43-101.

Interpretation and outlining of mineralization was conducted section-by-section by incorporating geological, structural and assay information for each geological domain and by snapping points for hanging wall and footwall contact while performing section interpretation. Triangulations of outlines between sections were done to create 3D wireframe solids for each geological domain using Datamine Studio 3 software. Interpolation of grade to populate the block model within domain wireframes was carried out using inverse distance cubed methods and a dynamic anisotropy search option. The 3D wireframe solids of the previous resource estimate dated July 16, 2008 were updated with infill holes for the Main Zone and were reviewed by SRK. Interpolation and NI 43-101 compliant resource classification parameters were developed by SRK.

Tournigan is beginning a preliminary assessment (scoping study), including metallurgical testing, on the Kuriskova deposit expected to be completed before the end of the second quarter of 2009. Pre-feasibility and feasibility studies are expected to follow the preliminary assessment.

Ravi Sharma, MAusIMM, Tournigan's manager of resources and reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release. SRK has reviewed and approved the technical content of this news release.


About Tournigan Energy Ltd.

Tournigan Energy is a uranium and gold exploration and development company that has built a portfolio of highly prospective assets in Europe. The company has focused its development and obtained licences in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure, an educated population and, as of January 1, 2009, has adopted the Euro currency. Tournigan Energy is committed to safe and sustainable exploration and mine development in Slovakia and its other operational jurisdictions.

TOURNIGAN ENERGY LTD.

"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO

Forward-looking statements: Certain of the statements made herein, 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 Corporation'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.

The TSX Venture Exchange does not accept 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 � 2009 TOURNIGAN ENERGY LTD. (TSXV-TVC) All rights reserved. For more information visit our website at http://www.tournigan.com/ or send email to info@tournigan.com ..

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Tournigan Energy Limited

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CODE : TVC.V
ISIN : CA8915651035
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Tournigan Energy Ltd. est une société d’exploration minière d'or et d'argent basée au Canada.

Tournigan Energy Ltd. détient divers projets d'exploration en Slovaquie.

Ses principaux projets en exploration sont NOVOVESKA HUTA et KURISKOVA en Slovaquie et CURRAGHINALT en Irlande.

Tournigan Energy Ltd. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 9,4 millions CA$ (7,5 millions US$, 6,6 millions €).

La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2001 à 0,03 CA$, et son plus haut niveau récent le 31 décembre 2007 à 4,50 CA$.

Tournigan Energy Ltd. possède 208 018 000 actions en circulation.

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2008 Annual Report
2007 Annual Report
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05/01/2012Closes Private Placement With Areva, And Welcomes Andreas M...
14/07/2010Closes Private Placement
29/06/2010Plans Private Placement
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03/11/2008Appoints VP Engineering / Environmental and VP Exploration
08/08/2007Appoints New Chairman
Projets de Tournigan Energy Limited
01/03/2012To Open March 1, 2012 As European Uranium Resources Ltd.
22/02/2012Takes Final Steps To Become European Uranium Resources Ltd.
30/11/2011(Novoveska Huta)Files Technical Report For Novoveska Huta Resource
26/04/2011(Kuriskova)Increases Indicated Resource at Kuriskova by 39% to 28.5 Mil...
07/03/2011(Kuriskova)Continues to Improve Grade in Kuriskova's Main Zone South
03/08/2010(Kuriskova)Metallurgical Testing For Prefeasibility Study Indicates Ura...
24/03/2010(Kuriskova)Increases Indicated Resource, Adds High Grade, at Kuriskova ...
23/11/2009(Kuriskova)Discovers New Zone of High Grade Mineralization at Kuriskova
09/11/2009(Kuriskova)Drills More High Grade Uranium at Kuriskova
03/11/2009(Kuriskova)Initial Metallurgical Testing at Tournigan's Kuriskova Proje...
19/10/2009(Kuriskova)Awards Prefeasibility Study of Kuriskova Uranium Deposit
01/10/2009(Kuriskova)Resumes Drilling at Kuriskova Uranium Deposit
30/09/2009(Curraghinalt)Sells Curraghinalt Gold Project
27/07/2009Files Technical Report
26/06/2009(Kuriskova)Positive Preliminary Assessment for Tournigan's Kuriskova Ur...
08/06/2009(Kremnica Mine)Signs Option Agreement on Kremnica Gold Property
24/02/2009(Kuriskova)Doubles Contained Uranium and Increases Grade of Indicated R...
19/01/2009(Kuriskova)Provides Update on Kuriskova Uranium Deposit in Slovakia
10/09/2008(Kuriskova)Adds Uranium Mineralization at Kuriskova and Novoveska Huta
29/08/2008(Kuriskova)Files Kuriskova Technical Report
16/07/2008(Kuriskova)Upgrades Portion of Kuriskova Resource to Indicated Category...
23/04/2008(Kuriskova) Continues Reporting High Grade Uranium Assays at Kuriskova,...
08/04/2008(Kuriskova)Reports High Grade Chemical Assay Results at Kuriskova
28/02/2008(Curraghinalt)Confirms High-Grade Gold Veins at Curraghinalt with Addition...
21/02/2008(Kuriskova)Kuriskova Infill Drilling Returns More High Grade Uranium
05/12/2007(Curraghinalt) Announces Significant Increase in Curraghinalt Gold Resourc...
Communiqués de Presse de Tournigan Energy Limited
13/03/2012(Kuriskova)European Uranium Files Technical Report For Kuriskova Prelim...
01/03/20122012 Outlook
02/02/2012in Northern Miner
30/01/2012(Kuriskova)Prefeasibility Study Indicates Kuriskova Could be Among Worl...
28/12/2011News Release
07/12/2011Forges Alliance With Areva, Acquires Scandinavian Uranium As...
23/08/2011(Kuriskova)Geotechnical Drilling Hits Uranium Mineralization at Much Hi...
09/08/2011(Kuriskova)s Progress on Prefeasibility Study for Kuriskova
08/04/2011Elects New Board Member
20/07/2010Mobilizes Zone 45 Drill Program
30/04/2010files Voluntary U.S. Deregistration
15/04/2010completes sale of Kremnica to Ortac
14/01/2010Cuts 4.5 Metres of 0.977 Percent eU3O8 at Kuriskova
05/01/2010Sale of Irish Property Brings Year-End Cash Up to $5.6 Milli...
10/12/2009Members of Parliament Did Not Agree with Uranium Mining Ban
02/11/2009Closes $5.5 Million Dalradian Sale
02/03/2009Completes Sale of U.S. Uranium Properties
23/12/2008Finalizes Dalradian Gold Agreement in Northern Ireland
02/10/2008Arranges Sale of Non-Core Assets in Northern Ireland and the...
04/09/2008A Letter to Shareholders from Dorian L. (Dusty) Nicol, Presi...
09/07/2008Information Now Available Through S&P Market Access Program
15/05/2008Provides Clarification
05/05/2008Name Change to Tournigan Energy Ltd. Focus on Kuriskova Uran...
19/03/2008's Uranium Targets Continue to Expand
04/03/2008 Completes Acquisition of US Uranium Interests
08/02/2008Extends Uranium Roll-front in Wyoming
31/01/2008Adopts Shareholder Rights Plan
15/01/2008Hits Uranium in Wyoming
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12/10/2007Tournigan U.S. Uranium Acquisition Agreement and Reorganizat...
19/07/2007 Project Updates
29/05/2007Receives Positive Pre-feasibility on Kremnica Gold
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29/03/2007Adds Claims in Wyoming
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