Tintina Resources Inc. Provides Update on Black Butte Copper Mine Operating Permit Application
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 18, 2016) - Tintina Resources Inc. (TSX VENTURE:TAU)(OTCQX:TINTF) ("Tintina" or the "Company") is pleased to give an update on the progress at its Black Butte Project and processes underway through the Mine Operating Permit (MOP) application.
The Montana Department of Environmental Quality (DEQ) has completed its initial Completeness and Compliant review of Tintina's application for a mine operating permit. As part of Montana's statutory process, the DEQ has responded with the first 'deficiency letter' outlining a number of matters to be corrected or clarified and where further data is required. This letter is available on the Black Butte project website www.blackbuttecopper.com under the transparency library.
Tintina is preparing a submission to provide all the requested information and will address any additional matters raised by the DEQ during this review. Once the DEQ finds the application "complete and compliant", the DEQ will select an independent third party to conduct a full Environmental Impact Study. An opportunity for public review and comment will be included in the study.
Bruce Hooper, CEO stated, "We continue to work diligently through the statutory processes with the DEQ. Our aim is to provide a thorough document, complete with all relevant information in support of our application. We appreciate the sensitive nature of working in this part of Montana and want to ensure all stakeholders that we intend to be held to the highest standards."
Bob Jacko, VP of Operations, closed by stating "The DEQ has done a comprehensive job going through the application in its entirety. We have specifically designed this project to protect the surrounding waterways and the environment. We welcome the opportunity to work with the DEQ to provide additional information in support of our application."
ABOUT BLACK BUTTE COPPER PROJECT
With a Measured and Indicated resource of 11.57 million tonnes with an average grade of 3.57%, the Black Butte Copper Project's Johnny Lee Deposit is one of the highest grade copper developments currently underway in the world. The Johnny Lee Deposit contains measured resources of 2.66 million tonnes with an average grade of 2.99% Cu for 175 Million lbs (79,534 tonnes) of copper and indicated resources of 8.91 million tonnes with an average grade of 3.74% Cu for 735 Million lbs (333,390 tonnes) of copper.
Readers are encouraged to review the Updated Technical Report and Preliminary Economic Assessment for the Black Butte Copper Project, Montana dated July 12, 2013 (the "PEA"), which is available on SEDAR, for additional information.
ABOUT TINTINA RESOURCES INC.
Tintina Resources Inc. is a growth company focused on the exploration, development, and mining of its 100% owned flagship property, the Black Butte Copper Project in central Montana, USA. The Company is led by a highly experienced executive management team that has a successful track record of building shareholder value through exploration, corporate finance, and mine development.
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.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation, including statements regarding the Company's plans for advancing the Black Butte Copper Project, including plans for the MOP application, resource estimates and expected outcomes. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company's MOP application will proceed as expected, that the results of exploration and development activities are consistent with management's expectations and that the assumptions underlying mineral resource estimates are valid. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Tintina's operation as a mineral exploration and development company and the Black Butte Copper Project that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including that results of exploration and development activities will not be consistent with management's expectations, the risk of unexpected variations in mineral resources, grade or recovery rates, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, failure of plant, equipment or processes to operate as anticipated, the risk of accidents, labor disputes, inclement or hazardous weather conditions, unusual or unexpected geological conditions, ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining facilities and the operation of a producing mine. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Tintina does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Cautionary Note Regarding the PEA: The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Furthermore, there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Readers are encouraged to read the technical report, which discloses the basis for the preliminary economic assessment and the qualifications and assumptions made by the authors of the report.
Jerry Zieg, Vice President of Exploration for the Company is a Qualified Person for the purposes of NI 43-101 and has reviewed and approved the information of a scientific or technical nature contained in this news release.
Contact
Tintina Resources Inc.
Mr. Bruce Hooper
President and Chief Executive Officer
(604) 628-1162
info@tintinaresources.com
www.tintinaresources.com