TNR Gold Intersects 242 Metres of 1.25 g/t Gold on New Geophysical Target at Shotgun
VANCOUVER, British Columbia, Sept. 13, 2012 /PRNewswire/ -- TNR Gold Corp. ("TNR" or the "Company") (TSXV: TNR) is pleased to announce the assay results from the first hole of the drilling program at the Shotgun gold property in Alaska. Drill hole SR12-56 returned 242 metres averaging 1.25 grams per tonne gold including several higher-grade intercepts. The 30-day exploration program included 814 metres of drilling and three geophysical survey grids.
- Drill hole SR12-56 returns mineralized interval of 242.22 metres averaging 1.25 grams per tonne gold.
- Included within this interval is 114.22m averaging 1.84 g/t Au.
- Hole ended in mineralization at target depth of 293.22 metres.
- Mineralized zones are open at depth and coincident with geophysical anomalies found in 2011.
- Assays pending for two more holes.
Drilling Results
Diamond drill hole SR12-56 was oriented parallel and approximately 50m northwest of SR06-43 (previously reported containing 210 metres averaging 1.3 g/t Au). Three zones identified by more intense brecciation and increased gold grades correlate well between the two holes. These new results significantly reinforce confidence in the specific orientation of these southwest dipping mineralized higher-grade zones and how to target them with future drilling. In addition to testing for continuation of mineralized zones encountered in SR06-43, the new hole targeted an untested geophysical anomaly identified by the 3D geophysical survey in 2011. The strongest mineralization encountered in hole SR12-56 is coincident with where this geophysical anomaly was intersected. The hole ended in mineralization at target depth of 293.22m.
| From |
To |
Width |
Au g/t |
|
| Entire intrusive |
51.00 |
293.20 |
242.20 |
1.25 |
| Including (SW-zone) |
55.50 |
104.35 |
48.85 |
1.02 |
| Including (Mid-zone) |
135.00 |
159.20 |
24.20 |
0.85 |
| Including (NE-zone) |
179.00 |
293.22 |
114.22 |
1.84 |
| Containing |
186.00 |
242.00 |
68.00 |
2.05 |
| which includes |
203.90 |
226.00 |
22.10 |
2.86 |
| And containing |
264.30 |
277.45 |
13.15 |
3.12 |
| Which includes |
1.95 |
11.2 |
||
Cross section and plan map images showing SR12-56 are available on the Company's website, http://www.tnrgoldcorp.com
Drilling targeting was aided by 2011 geophysical surveys results. Higher grades within the NE-zone in hole 12-56 are associated with a chargeability high feature that suggests the mineralization continues at depth. Preliminary results of the 2012 geophysical survey are currently being interpreted.
"The Company is extremely pleased with these results and how they support our exploration model for identifying bulk minable gold targets at the Shotgun project. As reported previously, the geology logged in the drilling correlated well with previous work and looked very encouraging. The assays in the first hole have started to confirm this" comments John Harrop, VP Exploration.
About the Shotgun Gold Project
TNR holds a 100% interest in the Shotgun property located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in southwestern Alaska. This area is emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects on the Shotgun property and that of the Donlin Creek gold deposit as well as other important intrusion-associated deposits.
John Harrop, PGeo, FGS, a Qualified Person for the Company as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects has reviewed the technical information contained in this news release.
About TNR Gold Corp.
Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.
TNR's recently listed subsidiary, International Lithium Corp. (TSXV:ILC.V) ("ILC"), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. Ganfeng Lithium Co. Ltd. is a leading China based, multi-product lithium manufacturer, and strategic partner and investor in ILC. TNR remains a large shareholder in ILC holding 25.5% of ILC's outstanding shares.
At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirms TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.
On behalf of the board,
Gary Schellenberg
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. 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 resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Symbol: TNR:TSXV
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
620 - 650 West Georgia Street
Vancouver, British Columbia
V6B 4N9, Canada
Voice: (604) 687-7551
Fax: (604) 687-4670
1-800-667-4470
E-mail: [email protected]
Website: http://www.tnrgoldcorp.com
Twitter: @TNR_Gold
SOURCE TNR Gold Corp.
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