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-- Posted Tuesday, 16 December 2008 | Digg This Article | Source: GoldSeek.com
Timmins Gold announces the assay results of an 18 hole, 3,829 meter diamond drill program at its Tequila Project in the state of Jalisco, Mexico. Highlights of the program include Hole BD-1, (results previously announced), that intersected 5.88 g/t gold across 24.3 metres and Hole BD-2, located 50 metres along strike and 50 meters up dip from BD-1 along the Veta Grande Vein system, that returned 2.36 g/t gold across 13 metres. Five of the holes confirmed the continuity of the Veta Grande Vein over 350 meters of strike length. Other significant intersections include 5.6 g/t gold across 1.5 meters in Hole BD-6, 1.82 g/t gold across 23.35 meters, including 11.64 g/t gold across 2 meters in Hole BD-7, 6.17 g/t gold across 3 metres in Hole BD-9 and 4.43 g/t gold across 4 metres in Hole BD-18. Complete assay and analytical results from the above holes are shown in the table below.
| Drill Hole | Cross-Section | Mineralization Interval (m) | Drill Hole Assay Results | Comments | | From | To | Core Length | Au (g/t) | Ag (g/t) | | BD-1 | S-2 | 23.00 | 40.00 | 17.00 | 1.234 | 7.6 | Veta Grande vein system | | includes | 23.00 | 31.00 | 8.00 | 1.764 | 10.1 | | includes | 27.00 | 29.00 | 2.00 | 4.370 | 27.0 | | and | 94.50 | 126.80 | 32.30 | 4.834 | 29.0 | | includes | 94.50 | 98.50 | 4.00 | 5.660 | 39.4 | Veta Grande vein system Ore-shoot 1 | | includes | 96.50 | 98.50 | 2.00 | 10.670 | 69.0 | | | 103.50 | 109.05 | 5.55 | 15.143 | 8.1 | Veta Grande vein system Ore shoot 2 | | or | 107.50 | 109.05 | 1.55 | 40.400 | 229.1 | | | 109.05 | 111.80 | 2.75 | No Core (existing adit) | | | 113.80 | 118.80 | 5.00 | 6.490 | 40.9 | | | BD-2 | S-2 | 21.00 | 43.00 | 22.00 | 1.579 | 6.3 | Veta Grande vein system | | includes | 22.00 | 23.20 | 1.20 | 2.400 | -- | | includes | 31.00 | 44.00 | 13.00 | 2.361 | -- | Ore-shoot 1 Veta Grande vein | | includes | 34.00 | 36.00 | 2.00 | 3.390 | -- | | includes | 40.00 | 41.00 | 1.00 | 3.430 | -- | | and | 49.00 | 50.00 | 1.00 | 0.694 | 8.1 | | BD-6 | | 30.50 | 31.50 | 1.00 | 0.926 | 0.7 | This hole was focused on exploring the continuity of the high grade gold in the existing underground workings of the Guadalupe vein. Hole BD-06 intersected two intervals that could correspond to the projection at depth of this mineral structure | | and | 136.00 | 137.50 | 1.50 | 5.640 | 11.1 | | BD-7 | S-2 | 22.00 | 45.35 | 23.35 | 1.820 | 9.1 | Veta Grande vein system | | includes | 25.25 | 28.35 | 3.10 | 3.074 | N/A | | includes | 43.35 | 45.35 | 2.00 | 11.642 | N/A | | BD-9 | S-6 | 22.00 | 23.00 | 1.00 | 0.890 | 0.5 | Mineralization within the Veta Grande vein system | | and | 37.00 | 38.00 | 1.00 | 2.370 | 20.6 | | and | 75.00 | 78.00 | 3.00 | 6.176 | 31.8 | | and | 104.50 | 110.50 | 6.00 | 1.430 | 25.3 | | BD-18 | S-3 | 27.00 | 30.00 | 3.00 | 0.631 | 1.0 | Mineralized intersections within the projection of the mineral trend to the SW | | and | 48.00 | 56.00 | 8.00 | 0.511 | 1.5 | | and | 85.00 | 86.00 | 1.00 | 0.738 | 5.6 | | and | 96.00 | 100.00 | 4.00 | 4.430 | 48.1 |
Seventeen of the eighteen holes were focused on testing the down dip continuity of the Veta Grande epithermal vein system that developed within a dilation zone, created by the intersection of two regional fault systems. The NE-SW trending system allowed the formation of a belt of gold occurrences that outcrop along 600+ meters of strike, varying from 0.50 to 15 meters in width. The intersecting NW-SE trending system provided a favorable environment for the emplacement of a system of veins varying from 0.50 to 2 meters in width. The Veta Grande vein is the principal mineralized structure, consisting of an auriferous structural "loop" with several minor splits. The mineralization identified at the Tequila Project is consistent with that of a low sulphidation, "hotspring" type epithermal deposit model characterized by colloidal quartz, advanced argillic alteration and depleted sulphide mineralogy (i.e. pyrite). The gold mineralization is hosted within a quartz stockwork system formed within a brecciated zone of micro veins and veinlets up to 1 meter wide.
Drilling to date has tested only 1/3 of the known strike length of the mineralized system. Of the 18 holes completed, 14 returned economic gold grades over appreciable widths. Five of the holes confirmed the continuity of the Veta Grande Vein over 350 meters of strike length. The Company is currently reviewing the data from the drill program to assess future exploration activity.
Qualified Person
Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Executive Vice-President and CFO of Timmins Gold Corp. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Timmins Gold Corp. employees and contractors.
We seek Safe Harbor.
For further information, contact:
Bruce Bragagnolo, LLB.
CEO
Vancouver, BC, Canada
Tel: 604-638-8980
Bruce@timminsgold.com
Darcy Krohman, P.Geo., C.A.
Executive Vice-President & CFO
Vancouver, BC, Canada
Tel: 604-638-8971
darcy@timminsgold.com
For Investor Relations, contact:
Alex Tsakumis
Corporate Development
Vancouver, BC, Canada
Tel: 604-638-8976
Alex@timminsgold.com
Leighton Bocking
Corporate Development
Vancouver, BC, Canada
Tel: 604-638-8977
Leighton@timminsgold.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.
-- Posted Tuesday, 16 December 2008 | Digg This Article | Source: GoldSeek.com
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