TintinaGold Expands Land Position at Its Sheep Creek Property, Montana, USA
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/10/10 -- TintinaGold Resources Inc. ('TintinaGold' or the 'Company') (TSX VENTURE: TAU) is pleased to announce that it has increased its land position on its Sheep Creek Copper-Cobalt property ('Sheep Creek') located in Central Montana, USA.
Highlights:
The Company has staked 56 new Federal mining claims adjacent to its current land holdings in the district. This augments the Company's total holdings at Sheep Creek to approximately 5,775 acres, including its mining leases on private ranch lands.
In addition, the Company is currently drilling verification holes on its mining leases and has previously reported the results shown below from its first four holes at its Sheep Creek property in central Montana, USA (see Table 1, below, and website). A fifth drill hole has been completed and the assay results are pending.
Table 1 - Significant Drill Intersections:
Hole From (m) To (m) Width (m) Width (ft) Cu % Co %
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Upper Copper Zone
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DDH SC10-001 118.26 125.00 6.74 22.1 3.44 0.18
DDH SC10-002 131.31 138.77 7.46 24.5 2.48 0.36
DDH SC10-003 131.88 139.50 7.62 25.0 3.21 0.17
DDH SC10-004 107.90 118.41 10.51 34.5 3.03 0.15
Lower Copper Zone
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DDH SC10-003 350.02 351.69 1.67 5.6 3.24 0.05
DDH SC10-004 414.00 418.05 4.05 13.3 10.84 0.03
The current drill program is intended to verify historic results from drilling completed by Cominco American Inc., BHP, and Utah International between 1985 and 1989. Those results led Cominco American Inc. to report a historic resource estimate based on 42 drill holes. Figures 1 and 2 show the distribution of both historic and current drill holes. The historic resource is non-compliant with NI 43-101 standards and is not being relied upon for resource estimation purposes. The Company plans to establish a NI 43-101 compliant resource based on a new in-fill and verification drill program, and to build additional resources from other copper mineralized target areas on the property.
Jerry Zieg, Vice President of Exploration, said, 'We're excited at the exploration opportunities on our new mining claims. We've been re-evaluating the district in light of our increasing understanding of Sheep Creek geology, and we've recognized significant exploration targets in these newly staked areas.'
Jerry Zieg, Vice President of Exploration for the Company is a Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the information of a scientific nature contained in this news release. Assays for this program have been completed by ALS Chemex including duplicates, standards, and blanks for QA/QC purposes.
About Sheep Creek
The Sheep Creek deposit sits 27 km north of White Sulphur Springs along maintained gravel road and within two miles of U.S. Highway 89. The Sheep Creek property consists of approximately 5,775 acres (including approx.1,061 acres from the 56 new claims staked in November 2010) of fee - simple lands and mining claims in central Montana. The property contains sediment - hosted zones of massive sulfide mineralization originally explored by Cominco American Inc. and BHP during the 1980's and early 1990's. The drilling undertaken by Cominco American Inc. and BHP had encountered significant zones of stratabound copper sulfide with cobalt in multiple bedded pyrite zones in the lower part of the Precambrian Belt Supergroup; this same stratigraphic unit hosts the Sullivan zinc-lead-silver deposit.
About TintinaGold
TintinaGold is a growth company focused on the exploration and development of precious and base metal properties around the world. The Company's experienced management team has assembled an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project, located in southwest Alaska approximately 100 miles northwest of the 40 million ounce Donlin Creek project, the Kugruk copper project located 70 miles north of Nome in the northern Seward Peninsula, Alaska, and the Sheep Creek copper-cobalt property in Montana. The Company, in a short period of time, has successfully established itself in several of the most prolific mineral belts in North America.
ON BEHALF OF THE BOARD OF DIRECTORS
Raj Chowdhry, C.A., President & CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Company's plans for and intentions with respect to exploration of the Company's Sheep Creek property, constitutes 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. 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 is able to obtain any government or other regulatory approvals and any financing required to complete the Company's planned exploration activities, that the Company is able to procure equipment and supplies in sufficient quantities and on a timely basis, that the Company's exploration activities on the Sheep Creek property will not be affected by actions of environmental activists or other special interest groups, and that actual results of exploration activities are consistent with management's expectations. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to TintinaGold's operation as a mineral exploration company and the Sheep Creek property that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, actual results of the Company's exploration activities being different than those expected by management, uncertainties involved in the interpretation of drilling results and geological tests, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, interference with TintinaGold's exploration activities by environmental activists or other special interest groups, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdowns and bad weather. 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. TintinaGold 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.
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.
Contacts:
TintinaGold Resources Inc.
Kelsey Chin
Direct Line: 604-628-1162
604-628-1163 (FAX)
KChin@tintinagold.com
www.tintinagold.com