TNR Gold Corp. (“TNR”) is pleased to announce that mobilization of equipment and drill site preparation is underway on its’100% optioned El Salto project in Argentina. The minimum 3000 metre drill program is planned to commence next week.
Several well defined targets will be drilled in this initial program which is expected to be completed within 4 — 6 weeks. The drill program will test a large chargeability anomaly delineated by a recently completed 3D IP survey (approximately 40 line-km), which in part is coincident with the known copper and molybdenum geochemical anomalies on the surface.
TNR has completed a reconnaissance mapping/prospecting and sampling program during the 2007 field season. The results of the program, and historical data suggests the property is predominantly underlain by sedimentary (quartzite, arenite) and mafic volcanic (basalt) sequences, which have been intruded by intrusions of gabbro and granite to granodiorite. The chargeability anomaly resulting from this IP survey is coincident with the margins of two exposed feldspar-phyric granitic bodies intruding the sedimentary rocks in the northern and southern parts of the property.
A total of 216 rock chip/grab and 20 stream-sediment samples were collected in a 2007 field season and sent to Alex Stewart Assayers (ISO9002) in Argentina for multi-element analyses. The rock chip/grab samples yielded anomalous to highly anomalous copper values ranging from 500 ppm to 4000 ppm (72 samples) and one sample assayed >10,000 ppm. A vuggy silica float sample assayed 4.23 g/t gold and 11.7 g/t silver and is strongly anomalous both in arsenic (4096 ppm) and antimony (445 ppm).
The El Salto property, consisting of 3300 hectares in the San Juan Province, Argentina is located within the “Yellow Belt” district of San Juan which hosts the two well-known copper deposits, the El Pachon Deposit (724 MT @0.65% Cu) in Argentina, and the Los Pelambres Mine (1487 MT @0.66% Cu) near the Chile-Argentine border (Falconbridge/Xstrata and Antofagasta web sites).
TNR Gold Corp is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 16 properties in Argentina and Alaska. The company’s focus over the next 12 months is the exploration and development of its Eureka, El Salto and El Tapau properties in Argentina and Shotgun project in Alaska.
This news release has been prepared under the supervision of Ike Osmani, P.Geo, TNR’s qualified person on this news release.
On behalf of the board
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. News release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.