Tournigan Gold Commences Drilling in Northern Ireland.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--June 13, 2003 Tournigan Gold Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:TVC TVC Traditional Values Coalition TVC Televisió de Catalunya (Catalan Public Broadcasting Company, Catalonia, Spain) TVC Television Commercial TVC Thrust Vector Control TVC Texas Veterans Commission TVC Total Variable Cost ) has started a drilling program on the Glenlark gold prospect, part of the Tyrone Project in Northern Ireland Northern Ireland: see Ireland, Northern. Northern Ireland Part of the United Kingdom of Great Britain and Northern Ireland occupying the northeastern portion of the island of Ireland. Area: 5,461 sq mi (14,144 sq km). Population (2001): 1,685,267. . Trenching has also begun on the nearby Curraghinalt gold deposit. The Glenlark gold prospect appears to be a substantial occurrence of stratabound gold-silver-zinc-lead mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , located 6 kilometres northeast from the Curraghinalt gold deposit. Results of previous geophysical and geochemical surveys, trenching and four test drillholes suggest that mineralization at Glenlark may represent a large gold-rich sediment-hosted exhalative ("sedex") type deposit with dimensions extending over several kilometres. A mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone exposed in trench T-10 contained values of 3.8 grams of gold per tonne (g/t), 22.8 g/t silver, 4.89% zinc and 0.75 % lead over a width of 9.5 metres. Another trench located approximately 200 metres west of T-10 contains values of 16.0 g/t gold over a width of 3.0 metres with no base metal analyses. In addition, numerous boulders in the Glenlark area contain significant precious metal values. Specifically, assays from a boulder containing massive sulphides found 200 metres to the east of trench T-10 returned values 16 g/t gold, 38 g/t silver and 2% zinc. These occurrences are located within coincident co·in·ci·dent adj. 1. Occupying the same area in space or happening at the same time: a series of coincident events. See Synonyms at contemporary. 2. geochemical and IP geophysical anomalies that suggest the mineralization could extend along strike for up to 4 kilometres. An initial program of 5 diamond drill holes will test several of these targets. Fieldwork continues on the Curraghinalt gold deposit located 6 kilometres to the southwest of the Glenlark prospect. Previous operators defined 255,000 ounces of gold at an average grade of 16.96 g/t gold contained in 7 veins extending over a 1-kilometre strike length. Tournigan's current work at Curraghinalt is designed to extend the strike length of these veins, thereby increasing the size of the resource. Both VLF (Very Low Frequency) See low radiation. geophysical and soil geochemical surveys are underway and a trenching program has just begun. Initially, 2 trenches will be cut across extensions of veins 1.5 kilometres southeast along strike from the current Curraghinalt deposit. Further trenches will attempt to identify wider widths of mineralization within dilative di·late v. di·lat·ed, di·lat·ing, di·lates v.tr. To make wider or larger; cause to expand. v.intr. 1. To become wider or larger; expand. 2. zones. Results from previous work in this area have returned several high-grade gold intercepts as reported in Tournigan's May 27, 2003 press release. Tournigan is also continuing finalization of a share purchase agreement for the Kremnica gold deposit in the Slovak Republic, as announced on March 19 and May 29, 2003. Historical work at Kremnica outlined a deposit containing a resource of 1.1 million ounces of gold. As part of Tournigan's overall focus on gold projects in Europe, Tournigan has recently listed on the Frankfurt and Berlin Stock Exchanges, under the symbol "TGP TGP Thumbnail Gallery Post TGP Three Gorges Probe (China) TGP Tau Gamma Phi (fraternity) TGP Total Gas Pressure (dissolved gas content in water) ". Oliver Frank, editor of the German newsletter Der Gold Report, is scheduled to interview Damien Reynolds, the President of Tournigan, next week in Germany. Additionally, the Company has issued 450,000 options exercisable for 5 years at a strike price of $0.25 to 2 directors of the Company. This issuance was pursuant to Tournigan's stock option plan approved by shareholders and the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . TOURNIGAN GOLD CORPORATION Damien E. Reynolds, President and Director The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, including statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion