Tournigan Technical Update ==================================================
Tournigan Gold Corporation (Vancouver, B.C. -- TSX.V: TVC) would like to present shareholders with an update of its European and USA uranium and gold projects.
URANIUM TARGETS
Slovakia
Tournigan has four uranium deposits situated on four exploration licenses in Slovakia. The most advanced deposit is Jahodna where an inferred resource of 1.2 million tonnes of 0.66 % U3O8 or approximately 18 million pounds of uranium oxide has been outlined using a 0.035% U3O8 cut-off. An NI 43-101 technical report was completed by ACA Howe International Ltd. in March, 2006.
At Jahodna, a 6200-metre diamond drill program is nearing completion. Five holes reported from the current drill program confirm that Jahodna is open at depth and along strike. The Company anticipates releasing information from an additional three holes before year-end. Assays from the remaining holes will be released in the first quarter of 2007. Intense industry activity has caused significant backlogs at all assay labs and delaying receipt of assay results.
At the Novoveska Huta deposit, a four-hole drill program has been initiated to verify an historic resource outlined by forty drillholes. The first drillhole has been completed. Drilling at Novoveska Huta is planned for the new year.
Tournigan's exploration licenses cover nearly 55 kilometres of strike along the Jahodna-Novoveska Huta geological trend. The Company is currently designing a helicopter-borne airborne radiometric and magnetics survey which will be flown at 100-metre line-spacing along the Jahodna-Novoveska Huta trend in the spring of 2007.
USA
In June 2005, the Company entered into an agreement to acquire up to 100% of a portfolio of uranium mining claims in the USA from Sweetwater River Resources LLC ("Sweetwater"). The properties are located in Wyoming, South Dakota and Arizona, USA.
18 Priority Uranium Targets on the Arizona Strip:
Phase 1 of an exploration program has been conducted on 413 federal lode mining claims (approximately 8,260 acres) staked in the North Rim area of the Arizona Strip uranium district in the state of Arizona, USA. The program, which consists of soil geochemical and geophysical surveys as well as geological mapping and rock sampling has narrowed 89 initial potential breccia pipes to 18 priority targets. A ground CSAMT -- AMT geophysics survey began last week. The CSAMT-AMT survey is intended to help define the 3-D geometry of the prospective breccia pipes prioritized for drilling, thereby allowing more accurate targeting of drill holes. The data from this ground geophysics program will be compiled and interpreted in the first quarter of 2007, and a drill program designed shortly thereafter. Drilling of the Arizona Strip uranium district is anticipated to begin late in Q1 2007.
South Dakota:
As part of the Sweetwater agreement, Tournigan also has uranium properties in South Dakota (approximately 5,120 acres), where the Company is negotiating with a private party to acquire a geological database, consisting of historic drill data and geology conducted by a major uranium exploration company in the 1970's.
Wyoming:
The Sweetwater joint venture includes three claim groups located in the Shirley Basin (3,540 acres), Great Divide Basin (5,020 acres), and Green River Basin (3,460 acres) Uranium Districts in Wyoming, USA, where there was significant historical uranium exploration or production. Tournigan is currently assessing the possibility of additional staking in locations where major mining companies previously identified uranium mineralization and/or resources, in areas close to former producing uranium mines or ISL (in-situ leach) operations.
GOLD PROJECTS
Europe
Kremnica:
At the Kremnica Gold Project, located in Slovakia, the results of a pre-feasibility study being conducted by Beacon Hill Consultants (1988) Ltd. on the Sturec deposit are due this month. The Sturec deposit has a measured and indicated resource of 959 thousand ounces of gold and 7.7 million ounces of silver hosted within 18.8 million tonnes of material with an average grade of 1.59 g/t gold and 12.78 g/t silver. An additional 272 thousand ounces of gold and 1.5 million ounces of silver are classified in the inferred category - (6.4 million tonnes averaging 1.32 g/t gold and 7.42 g/t silver). The stated resources are based on a cutoff of 0.75 g/t gold. Beacon Hill Consultants tabled an NI 43-101 technical report on the Sturec gold deposit in May, 2006.
Exploration drilling is on-going at Kremnica South where exploration (geologic and rock-soil geochemical surveys) conducted by Tournigan has revealed the presence of low-level gold mineralization associated with the shallow (near-surface) levels of a large epithermal system. Drill results from four recently completed and ongoing exploration diamond drill holes at Kremnica South are expected in early 2007.
Curraghinalt:
The Curraghinalt Gold Project, located in Northern Ireland UK, has two drill rigs currently drilling at the property. The Curraghinalt gold deposit contains an inferred gold resource of 262,000 ounces of gold contained within 527,700 tonnes of material, with an average grade of 15.45 g/t gold at a cutoff of 6.0 g/t gold. An NI 43-101 technical report on the deposit was completed by John Tully & Associates in January of 2005.
USA
Nevada:
In Nevada, Tournigan is currently working to earn an initial 51% interest in three precious metals projects from AuEx Ventures Inc. The portfolio consists of two epithermal gold and gold-silver projects, the Fireball and Gypsum Valley projects, and a mesothermal meta-volcanic hosted gold-silver project of likely intrusive-related origin, the JPW project. The three project areas are all contained within a land package of approximately 65 square kilometres (16,000 acres), located 32 kilometres northeast of Fernley in Churchill County, Nevada.
This year the Company conducted geological (mapping and rock sampling), soil geochemistry, ground magnetometer geophysical surveys over all of the project areas within the claims. Field work related to these drill-target generative Phase 1 exploration programs is complete. Data generated from these programs is currently being digitized and compiled into GIS databases. The data will then be interpreted and applied to the design of priority drill targets for a 2007 exploration drill program.
Tournigan Gold Corporation is focused on developing advanced mineral projects in Europe - Kremnica (gold) and Jahodna (uranium/molybdenum) in Slovakia, and Curraghinalt (gold) in Northern Ireland. Tournigan's asset mix also includes a portfolio of uranium properties in Slovakia, an earn-in agreement for properties in Wyoming, South Dakota and Arizona, as well as a gold JV in Nevada and VMS projects in Slovakia and Northern Ireland.
Dr. Kent Ausburn, the Company's VP Exploration and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
TOURNIGAN GOLD CORPORATION
"James Walchuck" James Walchuck, President and CEO |