http://biz.yahoo.com/ccn/040715/...f241da734782d9bfdf41fb56713_1.html Press Release Source: Tournigan Gold Corporation
Tournigan Successfully Completes Phase 1 Drilling; New Resource Calculation and Pre-Feasibility Study to be Initiated Thursday July 15, 4:02 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jul 15, 2004) - Tournigan Gold Corporation (TSXV:TVC) (Frankfurt:TGP) (Berlin:TGP - News) has completed the successful first phase of in-fill drilling at the Curraghinalt Project in Northern Ireland. A new drill campaign will begin at Curraghinalt to target substantial new extensions to the known resource at depth and to the west. Concurrently, Tournigan is initiating a comprehensive exploration program at the Kremnica gold project in Slovakia. Drill Results - Ireland
Six drill holes form the final part of Tournigan's ongoing feasibility infill drilling program at Curraghinalt. Hole CT-20 converted a waste zone into an ore zone. CT-22 successfully tested the faulted offset of the bonanza ore-shoot in the T17 HW vein (see Tournigan's press release dated February 16, 2004). CT-23 tested down-dip extension of three main resource-veins and intercepted ore grade mineralization in difficult conditions. Selected drill results are tabulated below:
-------------------------------------------------- From - to Length Grams per Drill Hole (metres) (metres) tonne gold Vein -------------------------------------------------- CT-20 61.30 - 62.35 1.05 19.39 T 17 HW -------------------------------------------------- CT-22 30.00 - 34.32 4.32 34.51 T 17 including 30.50 - 33.32 2.82 52.80 -------------------------------------------------- CT-23 149.47 - 151.12 1.65 7.0 T 17 192.10 - 193.28 1.18 10.43 T 11 F 200.64 - 202.19 1.55 11.23 No. 1 including 200.89 - 201.79 0.90 19.25 269.57 - 270.67 1.20 5.6 106-16 --------------------------------------------------
Note: Previous estimates of the resource at Curraghinalt have used a 6 g/t gold cut-off grade over a minimum mining width of 1.25 metres.
Tournigan's accurate determination of gaps caused by faults has succeeded in reducing or eliminating waste zones and adding ore zones in approximately 80% of the cases during the course of the current drill program. This reflects directly on the expertise and work ethic of Tournigan's technical team, who have been able to improve a very professional database. Future benefits to Curraghinalt include a continued high success rate in future drill programs, as well as better control of operating costs during mining.
Hole CT-18 hi a fault gap and only returned a narrow, low-grade intercept, but this result successfully guided the drilling of CT-20 which reinterpreted a "stray" vein as a faulted offset of the T17HW vein. This offset was not originally included in the historical resource calculation and will now convert an entire waste polygon into ore. CT-19 also aimed to test a low grade zone between a waste zone and an ore zone. The hole deflected and entered the waste zone too far east to convert to ore. CT-21 successfully tested the interpretation that the upper portion of the 106-16 vein was thrust south 55 metres, although the intercept was narrow. This discovery of a 55 m offset has significant implications for the addition of new resources to the west along strike.
CT-22 documented the existence of the projected fault-displaced segment of the T-17 HW "bonanza"-grade ore shoot. Furthermore, this hole increased the delineated dimensions of the T-17HW bonanza ore shoot to approximately 30 m along strike, 80 m down-plunge with a 1.74 m average thickness at approximately 2 ounces gold per tonne average grade. This ore shoot remains open at depth.
CT-23 intersected the T-17 vein in the Kiln Shear, proving its projection to a new maximum depth and providing a second example of secondary structural vein thickening by the Kiln Shear, the first example being a 6 m wide sequence grading 17 grams gold per tonne. It is postulated that the intact, likely well-mineralized T-17 vein is nearby. CT-23 also provides new, "deepest" mineralized vein intercepts for the No. 1, 106-16, and T-11F veins.
Tournigan will now proceed to re-calculate the resource estimate and begin the Pre-Feasibility Study on Curraghinalt. Further, Tournigan is extremely encouraged by the results of this first phase, which confirms the Company's enhanced structural understanding. Select extension drilling will begin at Curraghinalt to substantially grow the overall resource.
Tournigan Gold is focused on developing two advanced gold projects in Europe - Curraghinalt in Northern Ireland and Kremnica in Slovakia.
TOURNIGAN GOLD CORPORATION
Damien Reynolds, President and Chief Executive Officer |