Tournigan Energy Ltd. (TSX-V: TVC) (FRANKFURT: TGP) announced today
the results of eight diamond drill holes at its Kuriskova deposit
and one step-out diamond drill hole at its Novoveska Huta uranium
deposit, both located in eastern Slovakia. Highlights of this news
release include the following:
* Infill drilling at Kuriskova confirmed the presence of high grade uranium
mineralization. Significant drill hole intersections include:
LH-K-8A: 2.3 metres at 0.809 % eU3O8 (including 1.3m @ 1.121 % eU3O8)
LH-K-9A: 1.4 metres at 0.776 % eU3O8 (including 0.7m @ 1.447 % eU3O8)
LH-K-9C: 1.7 metres at 0.549 % eU3O8 (including 0.7m @ 1.065 % eU3O8)
* Mineralization was added at depth at Kuriskova
* Mineralization at Novoveska Huta was extended 100 metres further east by
drill hole LH-NH-12:
LH-NH-12: 24 metres at 0.106 % eU3O8 (including 17.6m @ 0.131 % eU3O8)
* Drilling continues at Kuriskova and Novoveska Huta
* Tournigan adds to exploration team
Kuriskova
The eight infill drill holes at Kuriskova include seven holes
drilled within the higher grade areas of the main zone at depths of
between 383 metres and 503 metres and one deep hole, drilled to a
depth of 741 metres, which adds uranium mineralization at depth at
Kuriskova. The holes announced today were drilled after the
previously disclosed resource estimate released July 16, 2008.
Results from the downhole radiometric logging are as follows:
-----------------------------------------------------------
Kuriskova Uranium Deposit, Slovakia
-----------------------------------------------------------
Hole Intersection From To Length %eU3O8
-----------------------------------------------------------
KG-J-29B I 713.7 721.4 7.7 0.115
-----------------------------------------------------------
LH-K-5A I 463.5 468.8 5.3 0.102
including 468.2 468.7 0.5 0.362
----------------------------------------------
II 473 477 4 0.094
----------------------------------------------
III 481.3 482.2 0.9 0.256
----------------------------------------------
including 481.7 482.2 0.5 0.403
-----------------------------------------------------------
LH-K-6A I 448.4 453.3 4.9 0.253
----------------------------------------------
including 450.2 451.3 1.1 0.601
----------------------------------------------
including 452.8 453.2 0.4 0.728
----------------------------------------------
II 457 457.5 0.5 0.155
-----------------------------------------------------------
LH-K-8A I 351.8 355 3.2 0.063
----------------------------------------------
II 357.6 358.6 1 0.087
----------------------------------------------
III 361.6 363.9 2.3 0.809
----------------------------------------------
including 362.4 363.7 1.3 1.121
-----------------------------------------------------------
LH-K-8B I 363.9 365.7 1.8 0.494
-----------------------------------------------------------
LH-K-9A I 435.4 436.8 1.4 0.776
----------------------------------------------
including 435.9 436.6 0.7 1.447
----------------------------------------------
II 439.3 439.9 0.6 0.511
-----------------------------------------------------------
LH-K-9B I 342.5 343.7 1.2 0.199
----------------------------------------------
II 344.9 345.8 0.9 0.225
-----------------------------------------------------------
LH-K-9C I 376.5 378.2 1.7 0.549
----------------------------------------------
including 376.6 377.3 0.7 1.065
-----------------------------------------------------------
"The results from our recent infill drilling demonstrate the
continuity and robust nature of the Kuriskova mineralization," said
Dorian L. (Dusty) Nicol, Tournigan's President and CEO. "We plan to
continue our drilling program during the rest of the year with the
objective of upgrading a significantly larger portion of the
Kuriskova resource to the indicated category as well as adding
uranium resources at depth."
A longitudinal projection showing drill locations with results
can be viewed from this link:
http://www.tournigan.com/i/pdf/20080910KuriskovaResourceLP.pdf.
A NI 43-101 estimate, announced July 16, 2008 and prepared by
SRK Consulting (U.S.) Inc., upgraded a portion of the Kuriskova
deposit to the indicated category at higher grade than previously
estimated. The estimate includes an indicated resource of 6.6
million pounds of U3O8 contained in 685,000 tonnes grading 0.435%
U3O8 and an inferred resource of 30.1 million pounds of U3O8
contained in 4.56 million tonnes grading 0.299% U3O8, using a
cut-off of 0.05%.
Novoveska Huta
At the Novoveska Huta deposit, Tournigan today released the
results of one step-out hole, LH-NH-12, drilled to a depth of 785
metres. The hole was drilled 166 metres east of previously
disclosed hole LH-NH-11. Results from the downhole radiometric
logging of hole LH-NH-12 are as follows:
-----------------------------------------------------------
Novoveska Huta Uranium Deposit, Slovakia
-----------------------------------------------------------
Hole Intersection From To Length %eU3O8
-----------------------------------------------------------
LH-NH-12 I* 690.2 696.4 6.2 0.157
----------------------------------------------
II* 755.8 779.8 24 0.106
----------------------------------------------
including 755.8 773.4 17.6 0.131
-----------------------------------------------------------
* Two intersections of LH-NH-12 are from the same ore body
truncated by a fault
A plan map showing drill locations at Novoveska Huta can be
viewed from this link:
http://www.tournigan.com/i/maps/TVC-NVH-Plan_20080910.gif.
"This step-out hole shows that mineralization at Novoveska Huta
extends along strike to the east," Nicol said. "We're following up
with additional step-out holes to test the extension even further
east. Our goal is to complete a 43-101 and CIM compliant resource
by the end of the year that confirms and potentially improves on
the historical resource; we expect the new resource to be not only
larger but also higher grade than the historical resource
estimate."
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.
A historical (not NI 43-101 compliant) P & Z3* resource
estimate prepared by former operator Uranpres in 2005 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) at
Novoveska Huta.
Ravi Sharma, MAusIMM, Tournigan's Manager, Resources and
Reserves, and a Qualified Person as defined by NI 43-101, has
reviewed and approved the technical disclosure contained in this
news release.
New Appointments
Tournigan Energy also announced today the appointments of Mr.
Rich Eliason as Chief Geologist and Mr. Ravi Sharma as its
full-time Manager, Resources and Reserves. Mr. Sharma had
previously filled this role for Tournigan as a consultant.
Mr. Eliason has 25 years of experience in exploration and mining
geology. He has spent the past 15 years working in the exploration
and production departments at the Jerritt Canyon Mine in Nevada and
at the Ketza River Mine in the Yukon Territory. He was a
significant contributor to the discovery of over one million ounces
of gold in the Jerritt Canyon District where he was Chief Mine
Geologist. Mr. Eliason held the position of Exploration Manager,
Yukon until his recent employment with Tournigan Energy Ltd. He is
a qualified person for NI 43-101 reporting purposes and is a fellow
of the Society of Economic Geologists.
Mr. Sharma has over 19 years experience as a mining and
exploration geologist. Prior to joining Tournigan he worked as
Chief Mine Geologist for Barrick Gold Corporation's Bulyanhulu Mine
in Tanzania where he was responsible for mine geology and near mine
exploration. He held the position of Chief Mine Geologist for
Vedanta Resources, Zod Gold Mines in Armenia. Mr. Sharma is a
member of AusIMM and a qualified person for NI 43-101 reporting
purposes.
"The appointments of Rich and Ravi to these positions reflect
Tournigan's renewed commitment to exploration," said Tournigan
President and CEO, Dorian L. (Dusty) Nicol. "They are both proven
orefinders and their contributions will be invaluable to
Tournigan's ongoing programs to grow its existing deposits and
discover new ones. I am delighted to welcome both of them on
board."
About Tournigan Energy Ltd.
Tournigan is a uranium and gold exploration and development
company that has built a portfolio of highly prospective assets in
Europe and North America. The company has focused its development
and obtained licenses in Slovakia, a member of the European Union
since 2004. Slovakia is economically and politically stable, has
excellent infrastructure and an educated population. Tournigan is
committed to safe and sustainable exploration and mine development
in Slovakia and its other operational jurisdictions.
On behalf of the Board of Directors of
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, 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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