 | | | Publié le 14 novembre 2007 | Drills New High Grade Discovery in Mexico, Including Meters=20Gra |
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November 14, 2007
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Tyler Drills New High Grade Discovery in Mexico, Including 12.6 Meters Grading
8.4% Zinc
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CALGARY, ALBERTA--(Marketwire - Nov. 14, 2007) - Tyler Resources Inc. (TSX VENTURE:TYS) ("Tyler" or the "Company") today announced initial drill results from the Cerro Prieto area, a new, near-surface high-grade polymetallic discovery approximately 5 kilometres away from the Main Zone at Tyler's 100% owned Bahuerachi project, Mexico.
Jean-Pierre Jutras, President, CEO and a director of Tyler, said, "This new discovery supports Tyler's long-held view that strong potential exists to expand the resource base and discover additional mineral deposits in this previously unexplored district. Today's announcement underscores our position that the hostile bid for Tyler by Mercator Minerals Ltd. significantly undervalues Tyler. Shareholders should reject Mercator's attempt to acquire Tyler as the full value of the Bahuerachi project will grow with success as we advance closer to feasibility, development and production and continue testing the district."
Tyler completed seven reverse-circulation ("RC") drill holes to test strongly mineralized outcrops exposed at surface during mechanized trenching earlier in the year. All of the holes are in the Cerro Prieto area but only two are called Cerro Prieto holes. The other five, called Silica Hill holes, are 350 metres from the Cerro Prieto holes along a continuous limestone/marble band. General locations of drill holes are shown on the attached property plan map. (http://www.ccnmatthews.com/docs/1114tys.pdf)
The Company is now planning a 20 to 30 hole follow-up drill program for Cerro Prieto, to expand the new discovery and begin delineating a new high-grade near-surface resource base. Tyler expects this program to begin in early 2008, as soon as the required ongoing geotechnical, metallurgical and resource expansion drilling programs can be completed on the Main Zone.
This initial drilling at Cerro Prieto confirms that district scale targets can deliver substantial discoveries in the form of near-surface, high grade mineralized zones with excellent size and expansion potential. Based on the outcome of further drilling, these targets may provide potential mill feed to a Main Zone milling complex as outlined in the November 2007 Scoping Study, or as additional stand-alone deposits.
Significant intervals from the initial testing program include:
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Hole From To Interval Zinc Silver Copper Lead Comments
number (m) (m) (m) % g/t % %
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Silica
Hill
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RC-90 0 6.08 6.08 5.48 5.95 0.24 0.19 Lst/skarn
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And 18.24 28.88 10.64 3.81 3.74 0.08 Trace Lst/skarn
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Within 0 28.88 28.88 2.80 3.27 trace Trace Lst/skarn
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and 79.04 82.08 3.04 2.03 3.76 trace 0.14 Lst/skarn
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and 115.22 127.68 12.16 8.42 6.21 trace 0.26 Lost recovery with
last sample grading
7.15% Zn. No
recovery from 127.68
meters to 153.52
meters. Skarn. This
target was a
drilling discovery
and did not outcrop
at surface.
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Within 104.88 127.68 22.8 5.15 4.92 trace 0.25 Lst/skarn
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RC-91 16.72 25.84 9.12 1.55 2.17 0.12 trace No recovery 25.84 to
39.52 meters
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and 41.04 47.12 6.08 1.92 1.76 trace trace Skarn
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Silica
Hill
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RC-92 0 4.56 4.56 2.20 6.77 trace 0.13 Skarn
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RC-95 0 4.56 4.56 0.97 0.77 trace Trace Sediments
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RC-96(1) 0 25.84 21.28 3.02 5.69 0.12 0.17 Skarn
(1)
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Cerro 350 meters north of
Prieto Silica Hill
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RC-93 9.12 25.84 16.72 0.98 3.25 0.13 0.40 Skarn
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within 6.08 47.12 41.04 0.91 4.00 trace 0.27 Skarn
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RC-94 0 4.56 4.56 4.77 9.23 0.46 Trace Skarn
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and 18.24 24.32 6.08 4.27 6.2 0.21 0.62 Skarn
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within 0 30.4 30.4 2.38 5.79 0.17 0.31 Skarn/Marble
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- Excludes 4.56 metes of no recovery
- (1) As per the current understanding of the mineralized zone, all drill
holes are expected to represent 70-90% true widths except RC-94 where
true width is expected to be around 60% of the intervals.The drilling confirms that mineralization in the Cerro Prieto area occurs over a widespread area at the base of extensive limestone/marble units, and in close proximity to a large, coarse grained series of intrusive bodies. Tyler's interpretation is that the marble/limestone unit that is mineralized at Cerro Prieto is the same unit which hosts high-grade skarns at the Main Zone.
Tyler is now conducting additional surface mapping and sampling at Cerro Prieto to better define the distribution of the limestones and marbles within a roughly 2 kilometre by 1 kilometre area to outline the extent of the target units for the upcoming follow-up drill program. Of note is the strong potential to discover additional mineralization below surface in this area, such as the 12.6 metres grading 8.5% Zinc in RC-90 which did not correspond to a known surface outcrop and represents a blind mineralized skarn.
Tyler notes that due to the highly fractured and altered nature of the mineralized zones, and the use of reverse circulation drilling, there are numerous areas within the skarn and mineralized rocks in which sufficient sample could not be recovered to create a representative sample for assay. These intervals of poor-to-no-recovery are noted in the table above, and indicate clear potential for wider zones of mineralization to be delineated by core drilling. In the Main Zone core drilling has a much better track record for recovering mineralized skarn zones than RC drilling, and the Company expects that there is room to increase both recoveries and overall width of the mineralized zones at the Cerro Prieto targets with the use of core rigs. The follow up drill program being planned for Cerro Prieto will consist of core drilling.
Reject the hostile Mercator bid for Tyler
Tyler's Board of Directors, based on the advice and recommendations of its Special Committee of independent directors, continues to unanimously recommend that Tyler shareholders REJECT the Mercator unsolicited takeover bid and NOT tender their shares to the offer.
About Tyler Resources Inc.
Tyler Resources Inc. is a well-funded Canadian junior exploration company focused on base and precious metals exploration in Mexico. Tyler's primary project is the Bahuerachi property, which hosts Mexico's fourth largest mineralized porphyry deposit. As part of its ongoing drill program, the Company has now drilled in excess of 52,000 meters of combined diamond and reverse circulation drilling since 2004, making it one of the most active Canadian junior exploration companies operating in Mexico. For more information, visit www.tylerresources.com.
All assay work was performed by ICP at ALS-Chemex labs of Vancouver, with gold done using standard fire assay methods. All samples sent to the lab are sealed with security tags for delivery to ALS-Chemex. Duplicate samples as well as standards and blanks are inserted in each batch of samples delivered to the laboratory and then checked to ensure proper quality assurance and quality control (QA/QC).
The Qualified Person responsible for the design and implementation of the Field Program as well as the preparation of this news release was J. P. Jutras, P.Geol., President and CEO of the Company. The work program is being carried out with the participation of Dr. Shane William Ebert, Ph.D, P.Geo, Vice President and Director, Grant Couture, M.Sc Geology, Paul Turnbull, B.Sc, P.Geol, Cornell McDowell, B.Sc Geology and Charla Boyer, B.Sc Geology, consultants to the Company.
Cautionary language: Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates", "will" and similar expressions, are forward-looking information that represents management of Tyler's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Tyler. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Tyler's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Tyler's filings with the Canadian securities authorities. Accordingly, holders of Tyler shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Tyler disclaims any responsibility to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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CONTACT INFORMATION:
Tyler Resources Inc.
Corporate Contacts
Jean Pierre Jutras, President/CEO/Director
(403) 269-6753 or Toll Free: 1-888-237-7898
Fax: (403) 266-2606
Website: www.tylerresources.com
or
Longview Communications Inc.
Media Contacts
Alan Bayless
(604) 694-6035
David Ryan
(604) 694-6031
or
Kingsdale Shareholder Services Inc.
Shareholder Information
Toll Free: 1-866-639-3460
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INDUSTRY: Manufacturing and Production - Mining and Metals
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Tyler Resources Inc
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EXPLORATEUR |
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CODE : TYS.V |
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Tyler Resources est une société d’exploration minière basée au Canada. Tyler Resources détient divers projets d'exploration au Canada et au Mexique. Ses principaux projets en exploration sont CARAT PROPERTY, WEEDY LAKE, KELSEY (ICE CLAIMS) et KELSEY au Canada et BAHUERACHI au Mexique. Tyler Resources est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 179,4 millions CA$ (174,9 millions US$, 113,9 millions €). La valeur de son action a atteint son plus bas niveau récent le 27 juin 2003 à 0,03 CA$, et son plus haut niveau récent le 28 janvier 2005 à 2,18 CA$. Tyler Resources possède 113 513 378 actions en circulation. |
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