Tournigan Energy Ltd. Continues to Improve Grade in Kuriskova′s Main Zone South
Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) announced today the
results of the second and third infill drill holes (LE-K-65 and LE-K-66)
in the Main Zone South of the Kuriskova uranium deposit in Slovakia.
Results of the first infill hole in this zone, LE-K-64, were previously
disclosed in a news release dated February 2, 2011. 'We are pleased with
the higher grade results of these holes, in particular the high grade
intercepts in holes LE-K-66 and LE-K-64,? said Dorian L. (Dusty) Nicol,
Tournigan′s President and CEO. 'We expect that this will lead to an
increase in the average grade of the deposit and a conversion of
Inferred Resource to Indicated.?
Highlights of these results are:
Hole LE-K-65: 0.7 metres at 0.335% eU3O8;
Hole LE-K-66: 1.6 metres at 0.688% eU3O8%
including 0.2 metres at 2.264% eU3O8 and 0.7
metres at 0.783% eU3O8;
Hole LE-K-64 (previously disclosed) had an intercept of 2.6 metres at
0.793% eU3O8 including 0.7 metres at 2.096% eU3O8,
the highest grade uranium intercept in the Main Zone South area;
All three infill holes intersected higher grade uranium mineralization
compared to the current Inferred Resource model grade of 0.174% eU3O8
in this part of the deposit;
These holes are expected to have a beneficial impact on current
resource grade and upgrade Inferred Resources to the Indicated
category; and,
Results confirm the thickness and geological interpretation of the
resource model and increase confidence in the current resource model.
A complete tabulation of significant intersections from these holes is
presented in Appendix A which can be viewed from this web link http://www.tournigan.com/i/maps/20110307-MainZoneSouthAppendixA.pdf.
Drill hole locations can be viewed from this web link http://www.tournigan.com/i/maps/20110307-KuriskovaMarchInfill2011.pdf.
The Kuriskova resource model is being re-estimated with the inclusion of
2010 and 2011 drilling results as part of the ongoing Prefeasibility
Study being done by Tetra Tech and will be released in late March or
early April 2011.
On January 14, 2011, Tournigan began the current drilling program with
the objective of upgrading and expanding the Kuriskova uranium resource.
The three holes of the 2011 drill program completed to date total 1,450
metres of an initial 4,500 metre drilling program.
Uranium grades presented in this news release are reported as equivalent
uranium oxide (eU3O8 %) based on downhole radiometric logging. The
logging was performed by Koral, s.r.o. of Slovakia. Drill core samples
are being submitted to the Laboratory of the Geological Survey in
Slovakia (SGUDS) and ALS Chemex in Seville, Spain for chemical assay.
Drill intercepts are reported as drilled; true thicknesses have not yet
been calculated. Quality Control and Quality Assurance is provided by
Ravi Sharma, Tournigan's Manager, Resources and Reserves, who is a
Qualified Person as defined by NI 43-101 and has reviewed and approved
the technical disclosure contained in this news release.
About Tournigan
Tournigan is a uranium exploration and development company that has
built a portfolio of highly prospective assets in Slovakia, a member of
the European Union since 2004. Slovakia is economically and politically
stable, has excellent infrastructure and currently has four nuclear
reactors generating half of its electricity with two more under
construction. Tournigan is committed to safe and sustainable exploration
and mine development in Slovakia. In addition to Kuriskova, Tournigan
has several other exploration targets along the Slovakian uranium belt
which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
'Dusty Nicol?
Dorian L. (Dusty)
Nicol, President and CEO
For further information please contact: Knox Henderson, Tournigan Energy
Investor Relations, at (604) 683-8320, or visit www.tournigan.com.
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 Statement:
This news release contains forward-looking statements that are based on
the Corporation′s current expectations and estimates. Forward-looking
statements are frequently characterized by words such as 'plan?,
'expect?, 'project?, 'intend?, 'believe?, 'anticipate?, 'estimate?,
'suggest?, 'indicate? and other similar words or statements that certain
events or conditions 'may? or 'will? occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to continue
to be refined; possible variations in ore grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing; and
fluctuations in metal prices. There may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities
laws, the Corporation disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are
not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty
therein.
Notice to US investors:
This press release uses the terms 'indicated resources' and 'inferred
resources', which are calculated in accordance with the Canadian
National Instrument 43-101 and the Canadian Institute of Mining and
Metallurgy Classification system. We advise investors that while those
terms are recognized and required by Canadian regulations, the U.S.
Securities and Exchange Commission does not recognize them. U.S.
investors are cautioned not to assume that any part or all of mineral
deposits in these categories will ever be converted into reserves. In
addition, 'Inferred resources' have a great amount of uncertainty as to
their existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under
Canadian rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or pre-feasibility studies, except in rare cases.
U.S. investors are cautioned not to assume that part or all of an
inferred resource exists, or is economically or legally minable.
Tournigan Energy Investor Relations
Knox Henderson, 604-683-8320
www.tournigan.com