Tonogold Resources, Inc.: Drilling Expands Mineralization at Combination and Ruby Hill Targets, Tonopah Divide Project
25 Marzo 2011 - 7:20AM
Tonogold Resources, Inc. (Pink Sheets:TNGL) has received results
from the 10 hole reverse circulation drill program conducted in
December 2010 at the Tonopah Divide Gold Project 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 a
Mining Venture with Tonogold Resources, Inc.
The drill program consisted of 10 holes for a total of 10,115
feet of reverse circulation drilling. Since project inception
Centerra has drilled 79 holes for 74,070 feet.
Eight of the best 17 intercepts obtained from the two phases of
drilling completed in 2010 were drilled in the December 2010
program. Both the Combination and Ruby Hill zones were
discovered in 2010.
The best intercepts from the 10 holes are as
follows, with all results in gold equivalent oz/ton (silver divided
by 75 plus gold) and a minimum intercept of 10 feet at 0.009 oz/ton
gold equivalent (0.3 gram/tonne):
Combination Gold Zone: |
TD10-072: 20 feet of 0.038
oz/ton at a depth of 425-445 feet. |
TD10-073: 10 feet of 0.060
oz/ton at a depth of 435-445 feet. |
TD10-073: 75 feet of 0.037
oz/ton at a depth of 475-550 feet. |
|
|
Ruby Hill Gold
Mineralization: |
TD10-076: |
50 feet of 0.016 oz/ton at a depth of 195-245
feet. |
TD10-077: 60 feet of
0.017 oz/ton at a depth of 305-365 feet. |
|
|
North Monte Cristo Gold
Mineralization : |
TD10-079: |
35 feet of 0.019 oz/ton at a depth of 535-570
feet. |
TD10-079 |
35 feet of 0.017 oz/ton at a depth of 610-645
feet. |
TD10-079: 30
feet of 0.016 oz/ton at a depth of 770-800 feet. |
Preliminary metallurgical work consisting of bottle
roll tests on 13 composited intervals was conducted in January and
received in the monthly report for February. Average
recoveries for gold and silver were 73% and 60% respectively.
Don Strachan, Tonogold's Vice President of
Exploration commented: "The December drilling results add
significant continuity to the +1,700 foot long Combination
gold-silver zone. The December program has also extended the
equally thick Ruby Hill discovery to a strike length of at least
1,000 feet which is open in both directions."
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
Jerry Samaras
858-456-1273
jeff@tonogold.com
www.tonogold.com
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