Tonogold Resources Announces 2nd Quarter Exploration Update for Tonopah Divide
07 Agosto 2008 - 3:25PM
Marketwired
Tonogold Resources, Inc. (PINKSHEETS: TNGL) announces an
exploration update for the Tonopah Divide Gold Project located five
miles south of the town of Tonopah, Esmeralda County, Nevada.
On March 19, 2008, Tonogold announced an Exploration and Option
Agreement for the Tonopah Divide Project with Centerra (U.S.),
Inc., a subsidiary of Centerra Gold, Inc. whereby Centerra may earn
a 60% interest in the Project for expenditures totaling $2.7
million over a five year period. Centerra is to provide quarterly
progress reports to Tonogold about the ongoing Tonopah Divide
exploration program.
Tonogold has received Centerra's report for the quarter ending
June 30, 2008. Key points of interest are as follows:
1) Data Compilation. Centerra continues to compile and digitize
historical data including drill hole and surface sample data. A
detailed topographic map and series of orthophotos were constructed
from Echo Bay air photos and new ground control. Digitizing of
historic sample locations and geology onto the new topographic base
is underway. Aster satellite images of the area were purchased.
2) Geophysics. The aeromagnetic survey by Edcon-PRJ was
completed. A strong magnetic low that corresponds approximately
with the district-scale alteration event dominates the property.
Zonge Geosciences was contracted to perform an IP-resistivity
survey over the central portion of the project area which is 40%
complete.
3) Geochemistry. 225 additional rock samples were collected in
the second quarter 2008 for a total through June 18 of 353 samples.
Analytical results confirm that gold and silver anomalous rock is
widespread over much of the property with the better values focused
in specific structures.
4) Geology. Geologic mapping was carried out in conjunction with
sampling throughout the second quarter and more comprehensive
sampling began in June. Four principal target areas have been
identified.
Centerra's plans for the third quarter 2008 include: completing
the IP survey, completing critical geologic mapping, planning the
initial drilling program, filing the drilling permit, and engaging
the drilling contractor subject to availability.
Tonogold Resources, Inc. is a minerals exploration company based
in La Jolla, California with properties in Alaska and Nevada. For
more information on the Company visit their website
www.tonogold.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This press release contains certain forward-looking information
about Tonogold Resources, Inc. ("Tonogold") which is intended to be
covered by the safe harbor for "forward-looking statements"
provided by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will,"
"may," "anticipate(s)," and similar expressions are intended to
identify forward-looking statements. These statements include, but
are not limited to, financial projections and estimates and their
underlying assumptions; statements regarding plans, objectives and
expectations with respect to future operations, products and
services; and statements regarding future performance. Such
statements are subject to certain risks and uncertainties, many of
which are difficult to predict and generally beyond the control of
Tonogold Resources, Inc., that could cause actual results to differ
materially from those expressed in, or implied or projected by, the
forward-looking information and statements. These risks and
uncertainties include: our lack of operating revenue and earnings
history, our need for additional capital to pursue our business
strategy, the grade and quantity of minerals in our projects may
not be economic, we do not have fee title to our properties, but
derive our rights through leases and the Mining Law, we are a
non-reporting company and as such do not make periodic filings with
the Securities and Exchange Commission, we trade on the Pink Sheets
and there can be no assurances that a liquid market will develop in
our securities, mining is subject to extensive environmental
regulations and can create substantial environmental liabilities,
gold and silver are commodities which have substantial price
fluctuations, a drop in gold and/or silver prices could adversely
affect future profitability and/or capital raising efforts, and
mining can be dangerous and present operational hazards for
employees and contractors. Readers are cautioned not to place undue
reliance on these forward-looking statements. Tonogold does not
undertake any obligation to republish revised forward-looking
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.
Contact: Phillip Winter Jeff Janda 858-456-1273 ir@tonogold.com
www.tonogold.com
Grafico Azioni Tonogold Resources (PK) (USOTC:TNGL)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Tonogold Resources (PK) (USOTC:TNGL)
Storico
Da Gen 2024 a Gen 2025