Tumi Resources Ltd. - Tumi to Commence Core-Drill Program on three Wholly-Owned Projects in Sweden
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One of the objectives of the drill program at Tomtebo is to verify the data pertaining to the grades and widths of the historic resource data reported on August 31, 2010. The second objective is to perform primary exploration on a geophysical anomaly south of the Tomtebo mine where airborne and land-based surveys have located a coincident electromagnetic (EM) and induced polarization (IP) anomaly. The Jonsmossen licences are located at the southern end and the Vitturn licences at the northern end of the Stollberg synform, a well-known trend of historic base-metal mines. The Company has performed EM as well as IP surveys at both sites and has identified potential drill targets that will be followed-up on with this drill program. At Vitturn, the surveys located a more than 400m long coincident high-chargeability, low-resistivity anomaly along strike from the historic Lustigkulla mine (see press release dated June 3, 2008). During the spring of 2010 the Company performed a dipole-dipole IP survey on the Jonsmossen No.1 claim to follow-up on a number of EM anomalies discovered earlier. Two of the three IP lines identified a very good vertical conductor and a coincident chargeable zone. Furthermore, during a field visit in October 2010, two very old exploration pits were found along strike from, and at the projected surface expression of, the geophysical anomaly.
Mr Henstridge stated: “We are very pleased to be able to start drilling and to be able to investigate the sources of the geophysical anomalies at our properties. The size and location of the anomalies makes them prime targets and we eagerly await the results over the coming months.“ Mr Henstridge continued: “With the ongoing discussions over the possibility of building a central processing plant for base-metal ores in the Bergslagen district, Tumi's properties may be an important source of ore should this plant be built, and the Company will continue to work towards holding Tomtebo as well as other areas for the long term. The drill program is part of this ongoing strategy, and it is our hope that it eventually will lead to the application of our first mining lease.“
The qualified person for Tumi's projects, Anders Hogrelius, a Member of the Australian Institute of Geoscientists, has visited all of the Company's properties in Sweden, and has verified the contents of this news release.
On behalf of the Board,
“David Henstridge“
David Henstridge, President & CEO
Forward Looking Statements This Company Press Release contains certain “forward-looking“ statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
For further information:
Company Contact:
Mariana Bermudez at (604) 699-0202
or email: mbermudez@chasemgt.com
website: www.tumiresources.com
Investor Information Contact:
Mining Interactive
Nick L. Nicolaas at (604) 657-4058
or email: nick@mininginteractive.com
website: www.mininginteractive.com