Tigray Resources Inc.: Drilling at Da Tambuk Identifies a Second
Discovery on Mato Bula Trend-Intersects 19.53 Metres at 3.51 Grams
Per Tonne Gold, Adyabo Project, Northern Ethiopia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 11, 2014) -
Tigray Resources Inc. (TSX-VENTURE:TIG) ("Tigray" or the "Company")
is pleased to announce diamond drill results from an initial
program designed to test 160 metres of strike length at the Da
Tambuk Gold Prospect on the Adyabo Project in Ethiopia. Diamond
drilling on 80 metre sections has intersected gold mineralization
in each of four holes completed, with results including 19.53
metres at 3.51 grams per tonne gold (ADD001) and 5 metres at 40.97
grams per tonne gold (ADD002). These results follow on from the
successful first pass drilling at Mato Bula (refer to Tigray's
news release dated July 16, 2013), located approximately 4km
along strike to the SSW. Additional diamond drilling was also
completed at Terakimti, and a suite of trench results were received
for Da Tambuk and additional Tigray prospects.
Drilling at Da Tambuk has tested the down dip extent of surface
gold mineralization defined by geochemical and trench sampling
(trench sampling [ADT004] at Da Tambuk yielded 16 metres at 3.95
grams per tonne gold, including 4 metres at 14.53 grams per tonne
gold - refer to Tigray's news release dated July 16,
2013). The drill results include:
- Section 23680N - ADD002 drilled the most northern section
tested and intersected 12.00 metres at 17.34 grams per tonne gold
and 0.32 percent copper including 5 metres at 40.97 grams per tonne
gold and 0.59 percent copper, from 52.75 metres drill depth.
- Section 23600N - ADD001 intersected 19.53 metres at 3.51 grams
per tonne gold and 0.1 percent copper, from 41.30 metres drill
depth (50 metres vertically beneath trench ADT004).
- Section 23600N - ADD004 intersected 9.69 metres at 3.96 grams
per tonne gold including 2.00 metres at 13.25 grams per tonne gold
from 86.21 metres drill depth (86.00 metres vertically below trench
ADT004 and 40.00 metres vertically below the intercept in
ADD001).
- Section 23520N - ADD003 drilled on the most southern section,
intersected, 3.00 metres at 4.2 grams per tonne gold from 83.42
metres drill depth (80 metres vertically below surface).
The system remains open along strike in both directions and at
depth.
Da Tambuk is part of the Mato Bula Trend, a mineralized corridor
now defined over 8km in strike length, and exhibiting a strong
porphyry style Cu-Au association. Da Tambuk is hosted in an altered
porphyry (intense pyrite-sericite-silica alteration), and the host
assemblage, mineralization, and alteration are similar to that of
the key target tested at Mato Bula.
Da Tambuk diamond drill
Intercepts
Hole ID |
From (m) |
|
To (m) |
Interval (m)1 |
|
Gold grams/ tonne 2,3 |
|
Copper % |
Local Azimuth |
|
Dip |
ADD001 |
|
41.30 |
|
60.83 |
19.53 |
|
3.51 |
|
0.10 |
90 |
|
-47 |
ADD002 |
|
52.75 |
|
64.75 |
12.00 |
|
17.34 |
|
0.32 |
91 |
|
-44 |
including |
52.75 |
|
57.75 |
5.00 |
|
40.97 |
|
0.59 |
ADD003 |
|
83.42 |
|
86.42 |
3.00 |
|
4.20 |
|
0.02 |
90 |
|
-48 |
ADD004 |
|
86.21 |
|
95.90 |
9.69 |
|
3.96 |
|
0.26 |
90 |
|
-46 |
including |
87.21 |
|
89.21 |
2.00 |
|
13.25 |
|
0.09 |
1 |
True thicknesses are interpreted as 65-85% of stated
intervals. |
2 |
Intervals use a 0.3 g/t cutoff value. |
3 |
No
top cut has been used on assay values. |
Key new trench results, located on the target horizon at Da
Tambuk, include:
Trench ID |
From (m) |
To (m) |
Interval (m)1 |
Gold grams/ tonne |
Project |
ADT005 |
20 |
38 |
18 |
0.43 |
Da Tambuk |
ADT011 |
42.00 |
48.00 |
6.00 |
0.67 |
Da Tambuk |
ADT012 |
16.00 |
23.00 |
7.00 |
1.80 |
Da Tambuk |
ADT013 |
60.00 |
65.00 |
5.00 |
0.29 |
Da Tambuk |
84.00 |
90.00 |
6.00 |
0.48 |
ADT014 |
0.00 |
8.00 |
8.00 |
0.38 |
Da Tambuk |
1 |
True thicknesses are undetermined. |
The target horizon has been defined by trenching over greater
than a 500 metre strike length to date (between trenches ADT011 and
ADT013) and remains open. Similar to results at Mato Bula,
trenching results at Da Tambuk, in an area of high topographic
relief, appear subdued in gold tenor (interpreted as leached)
compared to underlying grades encountered in unweather bedrock,
however the anomalous zones identified at surface create an
accurate guide for tracing gold target horizons for drill
testing.
Exploration
Update
Trenching has also identified new gold mineralization for
follow-up work at Hanbassa and Mugnae Andi, and include:
Trench ID |
From (m) |
To (m) |
Interval (m)1 |
Gold grams/ tonne |
Project |
WST016 |
46.00 |
48.00 |
2.00 |
2.56 |
Hanbassa |
68.00 |
69.00 |
1.00 |
3.02 |
WST017 |
114.00 |
118.00 |
4.00 |
7.37 |
Hanbassa |
WST021 |
34.00 |
36.00 |
2.00 |
4.19 |
Mugnae Andi |
1 |
True thicknesses are undetermined. |
A complete list of project trench results is located on the
project website.
Terakimti
Update
Trenching at the Terakimti deposit has been conducted, to assist
in oxide resource definition (listed in project trench table).
A deep hole diamond drill test (TD069) completed to 340 metre
drill depth, targeted mineralization plunging to depth on the
central lens, and is interpreted to have undercut the VMS
mineralized zone. The hole encountered zinc and barium anomalism
profiling downhole from 277 metres depth to 297 metre drill depth,
and copper, zinc, gold, silver, and sulphur anomalism profiling
from 297 metres drill depth to 330 metres drill depth. No
significant base or precious metal intercepts were encountered.
Presently, Tigray is continuing diamond drill exploration as
outlined in Tigray's news release of December
4, 2013 with current emphasis on follow-up drilling at the
Mato Bula prospect at Adyabo. Eleven holes for a total of 2350
metres are planned at Mato Bula. Six holes have been completed,
with assays pending.
Quality Control
The planning, execution and monitoring of Tigray's quality
control programs at the Harvest project are under the supervision
of Jeff Heidema, P.Geo., Tigray's Vice President Exploration. Mr.
Heidema is a Qualified Person as defined by National Instrument
43-101. Diamond drill core samples and trench samples have
undergone preliminary preparation at the Acme Laboratories facility
in Ankara, Turkey, and are crushed to 80% passing 10 mesh, and
pulverized to 85% passing 200 mesh (Acme R200-1000package).
Analyses are conducted at Acme Laboratories in Vancouver, Canada,
utilizing Aqua Regia digestion and ICP-ES for base metal and silver
analyses. Gold analyses are conducted via Fire Assay Fusion with AA
finish, and gravimetric analyses are completed for over-limit
samples. Blanks and certified reference standards are inserted into
the sample stream to monitor laboratory performance. For core,
duplicate samples are inserted into the sample stream to both
monitor laboratory performance and also characterize potential
mineralization.
Qualified Person
Mr. Heidema has reviewed and approved the scientific and
technical information contained in this news release.
About Tigray
Tigray is a Canadian mineral exploration company focused on
discovery through advancing early-stage mineral projects in
Ethiopia. Tigray's key property is the 70%-owned Harvest
polymetallic VMS exploration project, which covers 155 square
kilometres in the Tigray region of Ethiopia, 600 kilometres
north‐northwest of the capital city of Addis Ababa. The company has
an option to earn an 80% interest in the Adyabo property covering
418 square kilometres immediately west of the Harvest project.
Tigray's shares trade on the TSX Venture Exchange under the symbol
TIG.
Tigray and East Africa Metals Inc. ("East Africa")
(TSX-VENTURE:EAM) have jointly announced that they have entered
into a definitive agreement pursuant to which East Africa has
agreed to acquire all of the issued and outstanding common shares
of Tigray (other than the Tigray shares East Africa currently
owns). The transaction will be implemented by way of a statutory
Plan of Arrangement under the Canada Business
Corporations Act (refer to Tigray's news release dated February 24,
2014).
More information on Tigray Resources Inc. can be viewed at the
company's website at www.tigray.ca.
On behalf of the Board of Directors: |
Andrew Lee Smith, P.Geo. |
President, CEO and Director |
Cautionary Statement Regarding Forward-Looking
Information
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "anticipate", "believe",
"plan", "expect", "intend", "estimate", "forecast", "project",
"budget", "schedule", "may", "will", "could", "might", "should" or
variations of such words or similar words or expressions.
Forward-looking information is based on reasonable assumptions that
have been made by the Company as at the date of such information
and is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: risks associated with
mineral exploration and development; metal and mineral prices;
availability of capital; accuracy of the Company's projections and
estimates, including the initial mineral resource for the Harvest
Project; interest and exchange rates; competition; stock price
fluctuations; availability of drilling equipment and access; actual
results of current exploration activities; government regulation;
political or economic developments; environmental risks; insurance
risks; capital expenditures; operating or technical difficulties in
connection with development activities; personnel relations; the
speculative nature of strategic metal exploration and development
including the risks of diminishing quantities of grades of
reserves; contests over title to properties; and changes in project
parameters as plans continue to be refined, as well as those risk
factors set out in the Company's listing application dated August
18, 2011. Forward-looking statements are based on assumptions
management believes to be reasonable, including but not limited to
the price of gold, silver, copper and zinc; the demand for gold,
silver, copper and zinc; the ability to carry on exploration and
development activities; the timely receipt of any required
approvals; the ability to obtain qualified personnel, equipment and
services in a timely and cost-efficient manner; the ability to
operate in a safe, efficient and effective manner; and the
regulatory framework regarding environmental matters, and such
other assumptions and factors as set out herein.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information that is included herein,
except in accordance with applicable securities laws.
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 news release.
Nick Watters, Business DevelopmentTel 604-488-9582Email
investors@tigray.caWeb www.tigray.ca
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