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Timmins Gold Intersects New Mineralized Zone Approximately 1 km to the East of the San Francisco Pit


-- Posted Friday, 23 November 2012 | | Disqus

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov 23, 2012) - Timmins Gold Corp. (TMM.TO)(NYSE MKT:TGD)(NYSE Amex:TGD) is pleased to announce that its ongoing drill program continues to extend and expand the mineralization at the San Francisco Gold Mine, located in the State of Sonora, Mexico. The San Francisco Gold Mine is comprised of two pits, the larger San Francisco pit (SF Pit) and the La Chicharra Pit located approximately 1.5 km to the west. A total of 35,455 meters in 148 holes were drilled from July to the end of September, 2012. Timmins Gold is continuing with its ongoing drill program and currently has four reverse circulation rigs and one core drill rig working on site.

San Francisco East Zone Drill Results

Core drilling from July to September has led to the confirmation of a new mineralized zone extending as far as 1 km to the east of the existing limits of the SF Pit (East Zone). Highlights of the assays received from the 4,239 meters drilled in 9 holes at the East Zone include Hole TFD-128 which intersected numerous mineralized zones to a depth of 837 metres. Hole TFD-128 contained intercepts of 4.5 metres of 4.55 grams per tonne (gpt or g/t) gold and 7.5 meters of 2.19 gpt gold. Hole TFD-120 drilled in the same area contained intercepts of 3 metres of 5.86 gpt gold and 6 metres of 2.65 gpt gold. Hole TFD-123 contained intercepts of 3 metres of 3.57 gpt gold and 6 metres of 1.65 gpt gold. Hole TFD-124 contained intercepts of 3 metres of 2.08 gpt gold and 16.5 metres of 0.87 gpt gold. Hole TFD-125 contained intercepts of 6 metres of 1.59 gpt gold and 3 metres of 6.12 gpt gold.

Drilling in the East Zone was designed to test a magnetic high trend which passes through the San Francisco Pit. The magnetic high trend continues for a minimum of two kilometres to the east of Hole TFD-128. Lithologies intersected by the core holes include a conglomerate/breccia containing mineral zones at different elevations. Underlying the conglomerate/breccia is the metamorphic sequence with felsic and mafic gneisses, gabbro, granite and pegmatite. These are essentially the same lithologies found within the SF Pit.

San Francisco South

Limited drilling was performed south of the SF Pit. The drill was moved in September to La Chicharra to follow up on new mineralized zones discovered to the north of the La Chicharra Pit. Highlights of the assays received from the 5,522 meters drilled in 33 holes of reverse circulation drilling to the south of the SF Pit include 6.1 meters of 3 gpt gold in Hole TF-2042, 6.1 meters of 1.979 gpt gold in Hole TF-2043, and 12.19 meters of 1.93 gpt gold in Hole TF-2052.

La Chicharra Drill Results

Highlights of the assays received from the 25,585 meters drilled in 106 holes of reverse circulation drilling at the La Chicharra Pit include 4.57 meters of 15.53 gpt gold in Hole TF-1929, 7.62 meters of 1.19 gpt gold in Hole TF-1967, and 13.71 meters of 1.88 gpt gold in Hole TF-1970.

Results from the recent round of drilling at La Chicharra indicate that the mineralization extends both along strike of the current pit and also that there are at least two parallel mineralized structures immediately to the north of the current pit. The multiple shear zones encountered in and around the La Chicharra Pit give no indication that the limits of the mineralization have been reached.

The tables below highlight the better intercepts from the drilling from July to the end of September:

San Francisco East Zone
Drill Intersections
Drill
Hole
Number
Depth
(m)
Section
Line
From
(m)
To
(m)
True
Width
(m)
Au
g/t
TFD-120326.2480 E115.50121.506.002.648
includes117.00120.003.004.360
and132.00135.003.001.017
and142.50145.503.005.860
includes144.00145.501.5010.910
and151.50154.503.000.209
and157.50160.503.000.385
and169.50180.0010.500.325
and201.00207.006.000.182
and256.50258.001.500.399
and262.50276.0013.500.877
includes264.00265.501.504.018
and295.50298.503.000.212
and300.00301.501.500.195
and315.00316.501.500.683
and325.50326.200.700.176
TFD-123473.2400 E15.0016.501.500.127
and42.0046.504.500.213
and54.0055.501.500.179
and93.0094.501.500.297
and109.50112.503.003.570
includes109.50111.001.506.985
and136.50138.001.500.200
and153.00163.5010.500.390
and172.50178.506.001.647
includes175.50177.001.505.416
and192.00195.003.000.603
and210.00211.501.500.343
and216.00219.003.000.407
and222.00223.501.500.199
and226.50228.001.500.206
and231.00237.006.000.262
and313.50316.503.000.717
and337.50339.001.500.319
TFD-124467.2300 E54.0060.006.000.670
and72.0079.507.500.773
and114.00115.501.500.206
and132.00135.003.000.189
and144.00145.501.500.364
and160.50166.506.000.265
and168.00172.504.500.629
and180.00183.003.000.591
and201.00202.501.500.375
and211.50213.001.500.391
and228.00238.5010.500.451
and258.00261.003.002.081
includes258.00259.501.503.892
and298.50301.503.001.057
and316.50318.001.500.519
and321.00324.003.000.397
and342.00343.501.501.073
and349.50366.0016.500.873
includes354.00355.501.502.890
includes358.50360.001.502.033
and369.00370.501.500.268
and448.50451.503.000.197
TFD-125465.7300 E24.0036.0012.000.327
and48.0054.006.001.594
includes49.5051.001.503.364
and58.5063.004.500.216
and66.0072.006.000.300
and79.5081.001.500.193
and178.50180.001.500.369
and183.00189.006.000.320
and196.50198.001.500.533
and207.00208.501.500.536
and222.00225.003.000.816
and229.50231.001.500.240
and246.00258.0012.000.389
includes256.50258.001.502.232
and261.00262.501.500.292
and331.50334.503.000.438
and352.50354.001.500.162
and364.50367.503.000.216
and376.50378.001.500.670
and387.00388.501.502.522
and391.50399.007.500.248
and408.00411.003.000.195
and415.50417.001.500.216
and424.50426.001.500.372
and451.50454.503.006.120
includes451.50453.001.5011.882
TFD-126491.20500 E90.00102.0012.000.575
and109.50117.007.500.297
and268.50273.004.501.768
includes270.00271.501.502.284
and310.50312.001.501.925
and360.00361.501.500.678
and367.50372.004.500.281
and466.50471.004.500.404
and478.50484.506.000.838
includes483.00484.501.502.300
TFD-128980.35300 E24.0048.0024.001.102
and55.5060.004.501.219
includes55.5057.001.502.279
and66.0072.006.000.202
and84.0093.009.000.205
and145.50150.004.504.549
includes145.50147.001.502.311
includes148.50150.001.5011.167
and201.00207.006.000.162
and235.50256.5021.000.289
and276.00279.003.000.209
and348.00355.507.502.129
includes348.00349.501.508.350
and360.00364.504.500.599
and367.50369.001.500.319
and376.50378.001.500.466
and381.00382.501.502.023
and405.00406.501.501.605
and433.50436.503.000.389
and448.50454.506.000.269
and459.00463.504.501.300
includes462.00463.501.502.112
and475.50483.007.500.235
and519.00523.504.500.218
and537.00564.0027.000.437
and567.00571.504.500.405
and729.00742.5013.500.465
and769.50784.5015.000.631
and819.00820.501.500.750
and850.50853.503.000.987
and856.50861.004.500.391
and865.50873.007.500.374
San Francisco South
TF-2042152.4480 W13.7219.816.103.010
includes18.2919.811.529.826
and24.3825.911.520.317
TF-2043152.4520 W15.2421.346.101.979
includes18.2821.343.063.69
and33.5342.679.140.22
and47.2448.771.520.38
and114.30115.821.520.23
and121.92126.494.570.40
and143.26144.781.520.174
TF-2052170.681360 W65.5367.061.520.16
and73.1585.3412.191.93
includes79.2582.303.056.32
and121.92123.441.521.44
and132.59135.643.051.66
includes132.59134.111.523.19
and149.35156.977.621.04
includes149.35150.881.523.57
La Chicharra
Drill Intersections
Drill
Hole
Number
Depth
(m)
Section
Line
From
(m)
To
(m)
True
Width
(m)
Au
g/t
TF-19292502420W36.5841.154.5715.531
includes36.5839.623.0524.742
includes36.5838.101.5243.954
and57.9160.963.050.294
and96.0199.063.050.201
and166.12167.641.520.436
and236.22240.794.570.425
TF-19542502540W6.107.621.520.995
and19.8122.863.050.599
and70.1073.153.051.878
and86.87102.1115.240.764
includes88.3989.921.521.264
includes96.0197.541.522.258
and167.64170.693.050.338
and188.98195.076.090.386
TF-19592502400W13.7218.294.570.516
includes15.2416.761.521.056
and35.0536.581.520.627
and42.6745.723.051.015
includes42.6744.201.521.869
and105.16106.681.520.565
and117.35120.403.050.256
and156.97160.023.051.081
includes156.97158.501.521.732
and230.12231.651.520.168
TF-19672503260W13.7218.294.570.200
and50.2954.864.571.025
includes51.8253.341.522.400
and79.25128.0248.770.564
includes79.2583.824.571.377
includes92.96100.587.621.198
includes117.35118.871.521.058
and172.21173.743.050.330
TF-19702502580W179.83181.361.520.401
and188.98202.6913.711.887
includes190.50192.021.523.309
includes198.12202.694.573.331
and219.46228.609.140.189
TF-19902502700W32.0033.531.520.429
and48.7760.9612.190.182
and164.59170.696.100.841
includes166.12167.641.522.041
and178.31182.884.570.267
and216.41220.504.572.456
includes216.41217.931.527.146

Given the mesothermal (deep-seated) conditions of formation of the San Francisco mineralized system, management considers it not unreasonable that the system could reach very significant proportions, in addition to the open ended limits indicated by the present drilling, in terms of ultimate strike length and depth. The size of the gold mineralization zone, its presence within large shear zones and the continuous nature of the gold within these zones form the basis of management''s belief that the ongoing drill program could also lead to a significant increase in the mineral resources at the San Francisco mine and could potentially also lead to the discovery of additional satellite deposits within Timmins Gold''s existing land package. The orogenic nature of the deposit may provide the potential for the discovery of high grade feeders at depth.

Strict sampling and QA-QC protocol were followed to ensure the best practices in sampling and analysis of the drill samples. Duplicates, standards and blanks were inserted into the sampling stream at intervals of 25 samples. All assays were performed by Inspectorate Lab and a minimum of ten per cent of the original samples assayed by Inspectorate were sent to other independent labs for check assays. The check assays were cross-referenced and the results verified.

This press release was reviewed and prepared by Lawrence A. Dick, Ph.D., P.Geo, who is a consultant to the Company and is recognized as a Qualified Person under the guidelines of National Instrument 43-101 and by Miguel Soto, P. Geo., a director and the Vice-President of Exploration of the Company. For further information contact Timmins Gold Corp. at 604-682-4002 or go to the website at www.timminsgold.com.

On behalf of the Board:

Bruce Bragagnolo, LLB, Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein may constitute forward-looking statements and are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward-looking statements are statements which relate to future events. Such statements include estimates, forecasts and statements as to management''s expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.

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 our 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 suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.

Contact:
Timmins Gold Corp.
Bruce Bragagnolo, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com
www.timminsgold.com

-- Posted Friday, 23 November 2012 | Digg This Article | Source: GoldSeek.com

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