Tawsho Mining Inc. Announces Assay Results on Cabot Graphite Project
CONCORD, ONTARIO--(Marketwired - Nov 12, 2013) - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") is pleased to announce the assay results from its recently completed drill program on the Cabot Graphite Project located 10 km north of Baie Verte, Newfoundland.
A total of four holes were drilled approximately 200 m apart along a strike length of 600 m to explore for graphite associated with a VTEM airborne electromagnetic response that was coincident with a 2.2 km long graphitic schist unit previously mapped and sampled at surface. All four holes intersected a thick sequence of graphitic schist containing varying amounts of graphite (see previous press release dated September 11th 2013 for drill hole locations and orientations). The assay results are summarized below:
- CG-13-01: 1.40% Cg over 138.2 m (60.8 to 198.9 m);
- Including 2.29% Cg over 39.9 m (60.8 to 100.7 m);
- Including 1.80% Cg over 45.3 m (112.9 to 158.2 m);
- CG-13-02: 1.68% Cg over 40.4 m (134.2 to 174.6 m);
- CG-13-03: 2.63% Cg over 114.0 m (42.7 to 209.0 m);
- Including 3.52% Cg over 35.0 m (95.5 to 125.5 m);
- CG-13-04: 1.52% Cg over 112.6 m (10.0 to 122.6 m);
- and 2.23% Cg over 36.3 m (143.6 to 179.9 m).
Assays ranged from a low of 0.52% in CG-13-01 to a high of 8.85% in CG-13-03. Several intervals were not assayed and have been assigned a grade of 0.0% Cg. Given that the lowest assay is 0.52% Cg the missed intervals will be sampled and the composites for all four holes will be updated in the future. This should have the effect of increasing the grade of the composites.
Commenting on the assay results President & CEO Stephen Balch stated "We are very pleased with the wide intervals of mineralization. Some of the core intervals were not sampled due to our original visual estimate of grade but it looks like we under-estimated the amount of graphite present. As a result we will have to sample the remaining intervals, have them assayed and then upgrade our composites. The next step will be to perform metallurgical work on sections of the drillcore to determine flake size in order to estimate the value of the graphite".
The drillcore was transported to a secure facility in Baie Verte, Newfoundland where the core was split and sampled under the direction of Edward Procyshyn (P.Geo., QP). Samples were prepared by Eastern Analytical Ltd. in Springdale, NL and then transported to Activation Laboratories Ltd (Actlabs) in Ancaster, Ontario for final graphite analysis using their Code4F-graphite infrared analytical technique. Blanks were prepared in-house and inserted as samples at variable intervals ranging from every 10th to 20th sample. Three internal graphite standards having 3 different grade values were prepared for Tawsho at Actlabs and were inserted in random sequence at variable sample intervals between blank insertions.
Reported intersections represent core lengths and not true thickness. The actual thickness of the mineralized intervals can be expected to be 65-75% of the width of the drill intersection given the angle of drill hole.
Tawsho also announces that it has advised its option partner Rhino Exploration Ltd. of its intention to terminate the option agreement for the Whisker Valley Property located in Baie Verte, Newfoundland.
Stephen Balch, P.Geo., President & CEO of Tawsho Mining Inc., is a Qualified Person under the definition of National Instrument 43-101 and has reviewed and approved the technical content in this press release.
ABOUT TAWSHO MINING INC:
Tawsho is a mining exploration company focused on the acquisition, exploration and development of advanced stage exploration projects containing gold, base metals and industrial minerals. The Corporation is presently developing its Cabot Graphite Property (comprised of 102 claims covering and area of 2,550Ha or 25.5sq. km) located on the Baie Verte Peninsula, Newfoundland and its Chevrier Property (comprised of 557 claims, covering an area of 9,542 hectares, or 95.4 sq. km) located in the Chibougamau region of Quebec. Tawsho has approximately 29.25 million shares outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as a term that is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.