Tonogold Resources, Inc.: New Drilling Program at Tonopah Divide, Nevada
07 Diciembre 2010 - 7:00AM
Tonogold Resources, Inc. (Pink Sheets:TNGL) announced the
commencement of a new drilling program at the Tonopah Divide gold
project, which is located five miles south of the town of Tonopah,
Nevada.
Centerra (U.S.), Inc., a subsidiary of Centerra
Gold Inc. (TSX:CG), is managing the exploration program as part of
the Mining Venture with Tonogold Resources, Inc. which was formed
in March 2010.
The drilling program will consist of eight to ten
holes for an approximate total of 9,800 feet of reverse circulation
drilling. Diversified Drilling of Missoula, Montana is the drilling
contractor. The first hole was begun on Sunday, November 28,
2010.
Centerra has conducted four previous drilling
programs on the property from 2008 to 2010 totaling 69 holes and
63,955 feet of reverse circulation drilling.
The current program will follow up favorable results from the
drilling this summer and will include drilling on the Combination,
North Monte Cristo, Ruby Hill and New Divide Extension targets.
In particular, five new holes will be drilled on the Combination
target to test for thicker and higher grade mineralization at depth
and to test a parallel structure to the north.
Including the new drilling program, it is estimated that equity
interests in the Mining Venture will be Centerra 70% and Tonogold
30%.
Tonogold Resources, Inc. is a minerals exploration company based
in La Jolla, California. 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, some of our managers lack formal training in the
mining business, 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, changes to
the Mining Law may increase the cost of doing business, 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: Tonogold Resources, Inc.
Jeff Janda
jeff@tonogold.com
Jerry Samaras
858-456-1273
www.tonogold.com
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