Timmins Gold intersects Gold below
the Open Pit and along strike
San Francisco Gold Project
Intersects 11.93 grams per tonne gold over 4.57 metres
T
Timmins Gold Corp. (TMM, TSX) is pleased to announce that its ongoing drill
program continues to extend, expand and deepen the mineralization at the
San Francisco Gold Mine, located in the State of Sonora, Mexico.
During the four months from March to the end of June, 2011, the Company
completed 38,623 metres of reverse circulation
drilling in 268 holes and 10,015 metres of core
drilling in 26 holes. The ongoing drill program is focused around the
existing pit in a zone 2 kilometres E-W by 1 km
N-S, and also beneath the presently planned pit depth of 240 metres. Drilling has also started around the La Chicharra pit 2 kilometres to
the west of the San Francisco pit. Significant gold values have been
intersected in all directions around the San Francisco pit including
beneath the planned San Francisco pit bottom.
As a result of the success of the ongoing program the Company has expanded
the drill program and has on site 6 reverse circulation drill rigs and 3
core drill rigs, one of which is capable of drilling to depths of 1,000 metres. The Company has engaged independent consulting
firm Micon International Inc. of Toronto to
provide an updated NI 43-101 Reserve and Resource Estimate which will
incorporate assay results obtained from over 85,000 metres
of drilling conducted from June 30, 2010 to July 15, 2011.
Significant mineral intercepts from the program around the San Francisco
pit are as follows: 4.57 metres of 11.932 gpt gold and 39.62 metres
of 1.613 gpt gold in Hole TF-1280, 6.09 metres of 4.27 gpt gold
in hole TF-1099; 10.67 metres of 1.62 gpt gold and 6.09 metres
of 1.43 gpt gold, both in hole TF-1100; 7.62
metres of 1.52 gpt gold
in hole TF-1117; 6.10 metres of 2.28 gpt gold in hole TF-1119. Hole
TF-1168 had multiple mineral intercepts including 6.10 metres of 1.65 gpt gold, 7.62
metres of 1.43 gpt gold
and 4.57 metres of 8.31 gpt
gold including an interval of 1.53 metres
of 24.63 gpt gold. Hole
TF-1196 intercepted three mineralized zones including, 4.57 metres of 3.25 gpt gold. Hole TF-1234 intersected 6.09 metres
of 3.41 gpt gold and 6.10 metres of 1.082 gpt gold.
Hole TF-1240 intersected multiple zones including 12.19 metres
of 2.0 gpt gold, 3.05 metres
of 8.294 gpt gold, 3.05 metres
of 1.12 gpt gold and 7.62 metres of 1.40 gpt
gold.
The drill program has included exploring below the currently planned pit
bottom of 240 metres using reverse circulation
drilling and core drilling for holes deeper than 250 metres.
The returned assays indicate the mineralization is extending in parallel
mineral bodies up to 40 metres in width below the
currently planned pit bottom and has shown mineralized zones at depths of
100 metres below the currently planned pit
bottom.
Results from deep core drilling underneath the planned pit bottom were very
encouraging. The previously stated Hole TF-1280 intersected 4.57 metres of 11.932 gpt gold
and 39.62 metres of 1.613 gpt
gold. Hole TFD-90 intersected 4.50 metres of 2.219 gpt gold
at a depth of 385 metres and Hole TFD-80
intersected 1.50 metres of 3.097 gpt gold at a depth of 421.50 metres.
Directly underneath the planned pit bottom hole TF-1246 intersected 12.19
metres of 1.031 gpt
gold and hole TF-1279 intersected several intervals including 4.57 metres of 1.036 gpt gold,
4.57 metres of 1.89 gpt
gold and 6.09 metres of 2.48 gpt gold.
The current exploration below the planned pit bottom supports the theory
from the Company's geological team, that the
mineralized system may extend to greater depths. This is consistent in
"Mesothermal" systems, which have
significant depth extent, and have the potential to yield high grade feeder
systems at depth.
Core drilling continuing along strike in a zone 600 metres
to the east of the pit returned values as high as 25.5 metres of 1.908 gpt gold in
hole TFD-71. Results of holes in this new zone are
confirming the continuity of the gold mineralization at least 600 metres to the East of the current pit limit. The
Company has extended the core drill program in order to cover the next 400 metres to the east to determine whether the
mineralization extends at least 1 kilometer to the east of the SF pit.
The table below highlights the better intercepts from the last four
months of drilling:
Reverse Circulation Drilling
|
Drill
Hole
|
From
(m)
|
To
(m)
|
True Width
(m)
|
Au
(g/t)
|
|
TF-1092
Includes
Includes
|
1.52
1.52
7.62
|
9.14
3.05
9.14
|
7.62
1.53
1.52
|
1.602
5.257
2.455
|
|
TF-1099
|
105.16
|
111.25
|
6.09
|
4.270
|
|
Includes
|
108.20
|
109.73
|
1.53
|
5.820
|
|
Includes
|
109.73
|
111.25
|
1.52
|
10.810
|
|
TF-1100
Includes
And
Includes
|
47.24
50.29
64.01
64.01
|
57.91
56.34
70.10
68.58
|
10.67
6.10
6.09
4.57
|
1.620
2.621
1.430
1.839
|
|
TF-1107
Include
And
|
62.48
62.48
102.11
|
70.10
65.53
103.63
|
7.62
3.05
1.52
|
0.571
1.274
2.724
|
|
TF-1109
Includes
|
94.49
100.58
|
103.63
103.63
|
9.14
3.05
|
0.859
2.362
|
|
TF-1114
Includes
|
80.77
80.77
|
86.87
82.30
|
6.10
1.53
|
1.613
5.556
|
|
TF-1116
Includes
Includes
|
160.02
160.02
169.16
|
176.78
164.59
170.69
|
16.76
4.57
1.52
|
1.832
1.571
14.250
|
|
TF-1117
Includes
|
143.26
146.30
|
150.88
149.35
|
7.62
3.05
|
1.516
3.449
|
|
TF-1119
Includes
And
Includes
|
33.53
33.53
83.82
85.34
|
39.62
36.58
89.92
86.87
|
6.09
1.53
6.10
1.52
|
0.941
1.499
2.283
7.777
|
|
TF-1122
Includes
And
Includes
Includes
|
73.15
76.20
100.58
100.58
106.68
|
79.25
77.72
109.73
102.11
108.20
|
6.10
1.52
9.15
1.53
1.52
|
1.503
5.212
0.771
3.020
1.125
|
|
TF-1127
Includes
|
74.68
77.72
|
82.30
80.77
|
9.14
3.05
|
1.412
3.075
|
|
TF-1129
And
Includes
|
45.72
96.01
96.01
|
48.77
100.58
97.54
|
3.05
4.57
1.53
|
1.143
4.541
10.985
|
|
TF-1152
Includes
|
15.24
21.34
|
24.38
24.38
|
9.14
3.04
|
4.368
12.760
|
|
TF-1158
Includes
|
47.24
48.77
|
53.34
53.34
|
6.10
4.57
|
1.829
2.176
|
|
TF-1159
Includes
|
100.58
105.16
|
108.20
106.68
|
7.62
1.52
|
1.035
3.269
|
|
TF-1162
Includes
Includes
And
Includes
|
138.68
140.21
144.78
155.45
156.97
|
147.83
141.73
146.30
163.07
158.50
|
9.15
1.52
1.52
7.62
1.53
|
0.938
2.713
1.200
1.430
6.052
|
|
TF-1168
Includes
And
Includes
And
Includes
And
Includes
Includes
|
0.00
4.57
18.29
21.34
103.63
103.63
138.68
140.21
149.35
|
6.10
6.10
25.91
24.38
108.20
105.16
150.88
141.73
150.88
|
6.10
1.53
7.62
3.04
4.57
1.53
14.20
1.52
1.53
|
1.649
4.818
1.492
2.940
8.308
24.633
0.470
0.928
1.165
|
|
TF-1170
Includes
|
24.38
25.91
|
33.53
28.96
|
9.15
3.05
|
1.631
3.907
|
|
TF-1186
Includes
|
35.05
35.05
|
38.10
36.58
|
3.05
1.53
|
4.372
8.501
|
|
TF-1188
Includes
|
13.72
15.24
|
18.29
16.76
|
4.57
1.52
|
0.913
2.466
|
|
TF-1196
Includes
And
Includes
And
Includes
|
4.57
7.62
103.63
103.63
135.64
135.64
|
13.72
9.14
108.20
105.16
143.26
138.68
|
9.15
1.52
4.57
1.53
7.62
3.04
|
0.695
2.696
3.253
8.547
0.682
1.199
|
|
TF-1204
Includes
|
112.78
117.35
|
118.87
118.87
|
6.09
1.52
|
1.175
2.991
|
|
TF-1207
Includes
|
73.15
77.72
|
79.25
79.25
|
6.10
1.53
|
1.381
4.836
|
|
TF-1209
And
|
9.14
120.40
|
13.72
126.49
|
4.58
6.09
|
1.159
1.008
|
|
TF-1210
|
36.58
|
41.15
|
4.57
|
1.184
|
|
TF-1216
Includes
And
|
128.02
128.02
149.35
|
132.59
129.54
152.40
|
4.57
1.52
3.04
|
2.935
8.285
0.877
|
|
TF-1220
Includes
|
128.02
141.73
|
149.35
144.78
|
21.33
3.05
|
1.063
3.669
|
|
TF-1222
Includes
Includes
|
126.49
126.49
134.11
|
141.73
128.02
135.64
|
15.24
1.52
1.53
|
0.477
1.223
1.338
|
|
TF-1234
And
And
Includes
|
36.58
62.48
74.68
79.25
|
42.67
68.58
97.54
83.20/td>
|
6.09
6.10
22.86
3.95
|
3.410
1.082
0.586
1.442
|
|
TF-1236
Includes
|
47.24
48.77
|
53.34
51.82
|
6.10
3.05
|
1.253
2.338
|
|
TF-1240
Includes
And
And
Include
And
Includes
|
50.29
57.91
82.30
88.39
89.92
105.16
111.25
|
62.48
60.96
85.35
94.49
91.44
112.78
112.78
|
12.19
3.05
3.05
6.10
1.52
7.62
1.53
|
2.001
8.294
3.117
0.449
1.296
1.398
4.836
|
|
TF-1251
Includes
|
83.82
85.34
|
88.39
86.87
|
4.57
1.53
|
1.537
4.148
|
|
TF-1254
Includes
Includes
And
Includes
And
Includes
|
30.48
30.48
44.20
100.58
109.73
137.16
138.68
|
45.72
32.00
45.72
114.30
112.78
140.21
140.21
|
15.24
1.52
1.52
13.72
3.05
3.05
1.53
|
0.726
2.653
1.174
0.710
2.932
0.973
1.828
|
|
TF-1259
Includes
|
54.86
57.91
|
65.53
60.96
|
10.67
3.05
|
1.150
2.667
|
|
TF-1270
And
And
And
Includes
And
|
3.05
18.29
59.44
68.58
73.15
132.59
|
6.10
19.81
62.48
77.72
76.2
134.11
|
3.05
1.52
3.04
9.14
3.05
1.52
|
5.693
3.305
0.620
0.521
1.194
0.237
|
|
TF-1278 Includes Includes
And
Includes
And
Includes
And
And
And
Includes
|
21.34
21.34
28.96
57.91
60.96
83.82
83.82
102.11
106.68
124.97
128.02
|
48.77
24.38
39.62
70.10
67.06
88.39
85.34
103.63
108.2
146.3
129.54
|
27.43
3.04
10.66
12.19
6.10
4.57
1.52
1.52
1.52
21.33
1.52
|
1.401
2.958
1.909
1.637
2.773
0.446
1.101
0.266
0.214
0.393
1.218
|
|
TF-1279
Includes
And
And
And
Includes
And
Includes
And
Includes
And
And
Includes
And
|
0.00
6.10
24.38
33.53
51.82
51.82
60.96
60.96
68.58
71.63
80.77
89.92
89.92
111.25
|
18.29
10.67
27.43
36.58
56.39
54.86
64.01
62.48
76.20
73.15
83.82
96.01
94.49
115.82
|
18.29
4.57
3.05
3.05
4.57
3.04
3.05
1.52
7.62
1.52
3.05
6.09
4.57
4.57
|
0.536
1.036
0.233
0.296
1.899
2.775
1.084
1.777
0.565
2.140
0.214
2.48
3.259
2.336
|
|
TF-1280
Includes
And
Includes
And
Includes
And
And
Includes
Includes
And
Includes
|
15.24
25.91
33.53
33.53
56.39
56.39
73.15
88.39
88.39
89.92
106.68
109.73
|
30.48
27.43
42.67
36.58
68.58
57.91
76.20
92.96
91.44
91.44
141.73
118.87
|
15.24
1.52
9.14
3.05
12.19
1.52
3.05
4.57
3.05
1.52
35.05
9.14
|
1.431
9.798
0.762
1.799
0.647
1.683
0.226
11.932
17.57
25.674
1.807
4.456
|
|
TF-1282
Includes
And
Includes
And
And
Includes
|
0.00
6.10
24.38
32.00
77.72
129.54
132.59
|
9.14
9.14
35.05
33.53
79.25
140.21
134.11
|
9.14
3.04
10.67
1.52
1.52
10.67
1.52
|
1.982
3.659
1.778
9.013
0.356
0.343
1.039
|
|
|
|
Core Drilling
|
|
Drill
Hole
|
From
(m)
|
To
(m)
|
True Width
(m)
|
Au
(g/t)
|
|
TFD-71
Includes
Includes
Includes
And
|
68.00
68.00
80.00
90.50
138.50
|
99.50
93.50
83.00
93.00
146.00
|
31.50
25.50
3.00
3.00
7.50
|
1.570
1.908
4.740
4.696
0.602
|
|
TFD-72
And
Includes
And
|
36.00
49.50
51.00
181.50
|
39.00
54.00
54.00
184.50
|
3.00
4.50
3.00
3.00
|
0.942
1.483
2.038
0.949
|
|
TFD-75
Include
And
Includes
And
Includes
And
|
96.00
97.50
115.50
117.00
175.50
178.50
205.50
|
100.50
99.00
118.50
118.50
181.50
180.00
208.50
|
4.50
1.50
3.00
1.50
6.00
1.50
3.00
|
3.136
3.136
8.868
16.969
0.722
2.260
2.369
|
|
TFD-81
Includes
|
48.00
55.50
|
60.00
60.00
|
12.00
4.50
|
1.813
3.331
|
|
TFD-83
Includes
|
139.50
139.50
|
144.00
141.00
|
4.50
1.50
|
1.841
4.672
|
|
TFD-85
Includes
|
150.00
153.00
|
159.00
154.50
|
9.00
1.50
|
2.176
10.268
|
|
TFD-89
And
And
Includes
And
|
51.00
150.00
177.00
177.00
216.00
|
58.50
153.00
186.00
178.50
220.50
|
4.50
3.00
9.00
1.50
4.50
|
0.880
1.696
0.437
1.795
2.118
|
|
TFD-90
Includes
And
Includes
Includes
Includes
And
And
Includes
Includes
And
Includes
Includes
Includes
And
Includes
|
120.00
120.00
240.00
240.00
253.50
264.00
289.50
315.00
315.00
321.00
367.50
373.50
385.50
388.50
462.00
468.00
|
145.50
123.00
268.50
246.00
256.50
265.50
292.50
336.00
316.50
322.50
399.00
375.00
387.00
393.00
469.50
469.50
|
25.50
3.00
28.50
6.00
3.00
1.50
3.00
21.00
1.50
1.50
31.50
1.50
1.50
4.50
7.50
1.50
|
0.424
1.179
1.058
1.470
2.674
2.889
5.537
0.571
2.603
1.308
0.721
1.998
1.264
2.219
0.450
1.465
|
The size of the gold mineralization zone, its presence within large shear
zones and the continuous nature of the gold within these zones form the
basis of management's expectation that the ongoing drill program could lead
to a significant increase in the mineral resource at San Francisco and
could potentially also lead to the discovery of additional satellite
deposits within the existing land package.
The samples collected during the drilling were prepared by The Company and
assayed by Inspectorate Lab using fire assay and AA finish Gold values
above 10 g/t Au are re-assayed and checked by fire assay and gravimetric
finish. Strict sampling and QA-QC protocol were followed to ensure the best
practices in sampling and analysis of the drill samples. Duplicates,
standards and blanks were inserted into the sampling stream at intervals of
25 samples.
About Timmins Gold
Timmins Gold Corp is a gold production and development company. In April
2010, Timmins Gold commenced commercial production at its wholly owned San
Francisco gold mine in Sonora, Mexico. Timmins Gold has projected
production at a rate of approximately 100,000 ounces of gold per year at a
life of mine cash cost of approximately $489 per ounce. (Micon International Preliminary Feasibility Study,
November 2010).
This press release was reviewed and prepared by Lawrence A. Dick, Ph.D., P.Geo, a director of the Company, who is recognized as
a Qualified Person under the guidelines of National Instrument 43-101 and
by Miguel Soto, P. Geo., a director and the COO of the Company. For further
information contact Timmins Gold Corp. at 604-682-4002 or go to the website
at www.timminsgold.com.
On behalf of the Board:
Bruce Bragagnolo, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com
This News Release contains forward-looking statements.
Forward-looking statements are statements which relate to future events.
Such statements include estimates, forecasts and statements as to
management's expectations with respect to, among other things, business and
financial prospects, financial multiples and accretion estimates, future
trends, plans, strategies, objectives and expectations, including with
respect to production, exploration drilling, exploitation activities and
events or future operations. Information inferred from the interpretation
of drilling results and information concerning mineral resource estimates
may also be deemed to be forward-looking statements, as it constitutes a
prediction of what might be found to be present when, and if, a project is
actually developed.
In some cases, you can
identify forward-looking statements by terminology such as "may",
"should", "expects", "plans,
"anticipates", believes", "estimates",
"predicts", "potential", or "continue" or the
negative of these terms or other comparable terminology. These statements
are only predictions and involve known and unknown risks, uncertainties and
other factors that may cause our or our industry's actual results, level of
activity, performance or achievements to be materially different from any
future results, levels of activity, performance, or achievements expressed
or implied by these forward-looking statements.
While these
forward-looking statements, and any assumptions upon which they are based,
are made in good faith and reflect our current judgment regarding the
direction of our business, actual results will almost always vary,
sometimes materially, from any estimates, predictions, projections,
assumptions or other future performance suggestions herein. Except as
required by applicable law, Timmins Gold does not intend to update any
forward-looking statements to conform these statements to actual results.
Neither the TSX nor its
Regulation Services Provider (as that term is defined in the policies of
the TSX) accepts responsibility for the adequacy or accuracy of this news
release.
|