Timmins Gold Announces Initial Drill Results From the Norma Gold Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/18/11 -- Timmins Gold Corp. (TSX VENTURE: TMM) announces results of a first phase reverse circulation drill program on geological, geochemical and geophysical targets at the Norma gold-silver property. The property comprises a 15,687 Ha exploration concession, and is 100% owned by Timmins Gold. The Norma property is located approximately 20 km NW of the Company's San Francisco mine and surrounding exploration lands, and approximately 40 km SE of Capital Gold's El Chanate mine, both of which are located within the highly prospective Sonora-Mojave Megashear structural province in northern Sonora, Mexico.
Highlights of the assays received from the 2,090 meters of drilling in 16 reverse circulation drill holes completed during December, 2010 include the following:
-- RCN-04 grades 14 g/t Au over a 3.05 meter interval beginning at a depth
of 81.0 meters and includes a 1.5 meter interval grading 27.9 g/t Au;
with a second interval grading 1.16 g/t Au and 36.4 g/t Ag over a 13.7
meter interval beginning at 123.4 meters depth, (including a 4.6 meter
interval grading 3.21 g/t gold and 73 g/t Ag.
-- RCN-14 grades 1.02 g/t Au over a 4.6 meter interval beginning at 21.3
meters depth.
-- RCN-03 grades 0.81 g/t Au and 12.3 g/t Ag over a 13.4 meter interval and
includes a 1.56 meter interval grading 5.47 g/t Au and 33.9 g/t Ag.
Numerous historical prospects have been identified within a NW-trending corridor within the property boundary. Numerous drill targets, including those drilled during this initial drill phase, have been identified on the basis of geological, geochemical, and geophysical surveys. Target criteria have been generated from the Company's geological understanding of the district. These criteria are based on experience gained from operating and exploration success at the San Francisco gold mine and surrounding areas, located approximately 20 km SW of Norma, in a very similar geological environment.
Drilling was carried out in approximately 250 meter spacings over a 2 km strike length of altered and geochemically-anomalous outcrops consisting of metasedimentary rocks intruded by dykes, sills, and quartz stockworks. Numerous historical workings have been excavated within silicified zones.
Timmins exploration staff are highly encouraged by the results of the recent drill program. The discovery of mineralization at a distance of 20 km from the San Francisco mine along a major structural trend provides evidence of the potential of the area. The tenor of the assay results from this first phase of drilling, combined with the similarities between the geological setting and style of mineralization at Norma and the Company's San Francisco mine, indicate that follow-up drilling both along strike and as infill drilling is clearly warranted.
The following table shows the significant mineral interceptions of the drill program on the Norma property.
Mineral Interceptions Drill Program on the Norma Property
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Drill True
Hole Depth From To Width Au Ag
Number (m) (m) (m) (m) g/t g/t
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RCN-03 123.44 41.15 54.86 13.41 0.81 12.3
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includes 41.15 47.24 6.09 1.44 15.2
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includes 41.15 42.67 1.52 5.47 33.9
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and 82.30 88.39 6.09 0.66 9.8
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includes 83.82 86.87 3.05 1.18 10.6
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RCN-04 152.39 80.76 83.81 3.05 14.00 6.9
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includes 80.76 82.29 1.52 27.90 11.7
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and 123.44 137.15 13.71 1.16 36.4
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includes 129.53 137.15 7.62 1.97 52.1
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includes 132.58 137.15 4.57 3.21 73.0
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RCN-05 121.92 96.01 102.11 6.09 0.32 17.9
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includes 96.01 99.06 3.05 0.42 19.8
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RCN-11 149.35 118.87 121.92 3.05 0.66 pending
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includes 120.40 121.92 1.52 1.30 pending
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RCN-12 121.92 48.77 51.82 3.05 0.32 pending
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includes 48.77 50.29 1.52 0.60 pending
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RCB-14 60.96 21.34 25.91 4.57 1.02 pending
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includes 22.86 24.38 1.52 2.66 pending
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RCN-16 137.16 25.91 27.43 1.52 0.39 pending
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and 102.11 103.63 1.52 0.35 pending
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About Timmins Gold
Timmins Gold Corp. is a gold production and development company. In April 2010, Timmins Gold commenced commercial production at its wholly owned San Francisco gold mine in Sonora, Mexico. Timmins Gold has projected production at a rate of approximately 100,000 ounces of gold per year at a life of mine cash cost of approximately $489 per ounce. (Micon International Preliminary Feasibility Study, November 2010).
This press release was reviewed and prepared by Lawrence A. Dick, Ph.D., P.Geo, a director of the Company, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101 and by Miguel Soto, P. Geo., a director and the COO of the Company. For further information contact Timmins Gold Corp. at 604-682-4002 or go to the website at www.timminsgold.com.
On behalf of the Board:
Bruce Bragagnolo, LLB, Chief Executive Officer
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expects', 'plans, 'anticipates', believes', 'estimates', 'predicts', 'potential', or 'continue' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.
Neither 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:
Timmins Gold Corp.
Bruce Bragagnolo, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com
www.timminsgold.com