Tournigan Discovers New High Grade Uranium, Confirms Historical Data at Novoveska Huta, Slovakia
11 Giugno 2008 - 2:30PM
Marketwired
VANCOUVER, BC (FRANKFURT: TGP) today reported drill results
taken from 12 diamond drill holes totaling 5,540 metres on its
Novoveska Huta uranium deposit in Eastern Slovakia. The holes,
drilled to depths of between 200 to 657 metres, were designed to
twin historical holes as well as explore the deposit to the east
and provide structural analysis of the deposit.
The company continues to intercept significant thicknesses and
uranium grades on the deposit which confirms historical data and
extends the resource. Notably, new high grade material, including
7.6 metres of 0.399 %eU308, was discovered in hole LH-NH-4,
approximately 600 metres east of the historical underground
workings. Additional mineralization was also intersected in
LH-NH-11 a further 175 metres east of LH-NH-4.
Highlights from the downhole radiometric logging include:
--------------------------------------------
Hole From To Length eU3O8%
--------------------------------------------
LH-NH-4 494.2 501.8 7.6 0.399
--------------------------------------------
including 494.3 497.3 3.0 0.791
--------------------------------------------
LH-NH-13 287.4 326.1 38.7 0.132
--------------------------------------------
including 289.9 294.4 4.5 0.241
--------------------------------------------
including 296.9 305.3 8.4 0.220
--------------------------------------------
LH-NH-11 605.3 618.5 13.2 0.158
--------------------------------------------
including 605.3 614.3 9.0 0.194
--------------------------------------------
including 609.6 611.7 2.1 0.299
--------------------------------------------
LH-NH-8 359.9 371.1 11.2 0.107
--------------------------------------------
including 362.4 366.3 3.9 0.201
--------------------------------------------
LH-NH-1 360.3 365.2 4.9 0.115
--------------------------------------------
LH-NH-1 374.9 380.5 5.6 0.161
--------------------------------------------
LH-NH-9 386.1 395.4 9.3 0.103
Details of the 12-hole program are listed in Appendix A or may
be viewed on Tournigan's web site:
http://www.tournigan.com/i/pdf/2008-06-11_NR-Appendix-A.pdf. A plan
map detailing hole locations and previous underground workings may
be viewed from the link below:
http://www.tournigan.com/i/maps/2008-06-11_NRM.jpg.
"This drill campaign has confirmed and in many cases improved
upon the results from historic drilling," said Tournigan President,
James Walchuck. "We are especially encouraged by the new higher
grade mineralization found further to the east of the historical
deposit."
Previous work on the property included 5.5 km of underground
development and test workings on five vertical levels and 43
deep-drill holes which were the source for a historical estimate by
Uranpres s.r.o. in 2005. The historical resource estimate at
Novoveska Huta reported 19,970,000 pounds of uranium contained in
12 million tonnes at an average grade of 0.075% U3O8 (cutoff grade
0.015% U308). *
Tournigan will analyze the data from 662 chip samples, the
historic drill holes and its own drill campaign to build an updated
resource model on the deposit, which will provide the basis for a
NI 43-101 estimate by fourth quarter, 2008.
The drill results reported are from one hole drilled in 2006,
nine drilled in 2007 and two in 2008. Two holes did not encounter
significant mineralization. Hole LH-NH-5 was drilled to verify
mineralization in the tectonic zone and Hole LH-NH-6 was drilled to
verify continuity of deposit to the west. Tournigan is now focusing
on exploring the deposit to the east of the previous workings.
The uranium grades referred to above are reported as equivalent
uranium (eU3O8) as determined by downhole radiometric logging
equipment. The logging was performed by Koral, s.r.o. of Slovakia.
Quality control and quality assurance is being provided by Ravi
Sharma, Tournigan's Manager Resources and Reserves.
Joseph Ringwald PEng., Tournigan's VP Sustainable Development,
is a Qualified Person as defined by National Instrument 43-101 and
has reviewed and approved the technical disclosure contained
herein.
On behalf of the Board of Directors of
TOURNIGAN ENERGY LTD.
"James Walchuck"
James Walchuck, President and CEO
* The Company has reviewed the above historical resource
estimates and views them relevant. The Company believes that the
historical resource estimates are reliable based on the historic
exploitation of Slovak deposits in general and metallurgical test
records acquired with the Company's deposits in particular. The
above Slovak Resource Category is a combination of P and Z-3, which
is roughly analogous to the Canadian Institute of Mining,
Metallurgy and Petroleum's definition for Inferred Resources. The
Company has not, however, done the work necessary to verify the
classification of the resources and the resources are not
classified according to CIM's Standards on Mineral Resources and
Reserves Definitions. Investors are cautioned not to rely upon
these estimates. Uranium metal (U) grades were converted to uranium
oxide (U3O8) grades using a factor of 1.17924.
Forward-looking statements: Certain of the statements made
herein, including any information as to the Corporation's future
financial or operating performance, may be forward-looking and
subject to important risk factors and uncertainties, many of which
are beyond the Corporation's ability to control or predict.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Corporation undertakes no
obligation to update publicly or release any revisions to
forward-looking statements to reflect events or circumstances after
the date of this document or to reflect the occurrence of
unanticipated events.
Cautionary Note to U.S. Investors -- The United States
Securities and Exchange Commission permits U.S. mining companies,
in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or
produce. We use certain terms in this news release, such as
"measured," "indicated," and "inferred," "resources," which the SEC
guidelines strictly prohibit U.S. registered companies from
including in their filings with the SEC. U.S. investors are urged
to consider closely the disclosure in our Form 40-F which may be
secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
For further information please contact: Knox Henderson Tournigan
Investor Relations (604) 637-3563 www.tournigan.com Tournigan
Energy Ltd. 1200 - 570 Granville Street Vancouver, B.C. Canada V6C
3P1 Tel: (604) 683 8320 Fax: (604) 683 8340 Email: Email
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