TNR Gold Corp. (“TNR”) is pleased to provide this update regarding its Eureka Project, a copper-gold prospect located in the Jujuy province of Argentina.
TNR has successfully acquired an additional 1820.49 hectares at Eureka, bringing TNR’s holdings to a total of 4788.49 hectares. The new claims will be added to the original option agreement for a one-time fee of US$30,000. The additional ground is adjacent to the original ground and c covers an area of favourable conglomerate which hosts the Company’s Eureka project.
“We are very pleased to have secured this significant land package in such a prolific copper/gold district of Argentina,” states TNR’s President and CEO Gary Schellenberg.
Exploration on the project is underway. TNR’s program will include geochemical sampling, geological mapping and geophysical surveys throughout the area. The work will also include re-opening and cleaning out an historical adit located on the property. The property contains over 5 km of historic underground workings. In addition, a short drill program in the area of the adit will be implemented to test the continuity and extent of the mineralized horizons.
The goal of this program is to define precise targets for drilling and trenching for exploration activity scheduled before the end of 2007.
In a 2000 report, Minera Peñoles geologically estimated a potential of 50 to 60 Mt @ 1% copper in oxides based on surface workings, trenching, underground sampling and the assumed continuity of the near surface mineralized beds at Eureka. (Geological and exploration data and estimates contained herein are taken from historical records that predate NI 43-101 and/or from later reports not intended for use within the jurisdiction of NI 43-101. Although TNR has no reason to doubt the accuracy of this data, a Qualified Person has not yet verified them.)
This news release has been prepared under the supervision of Ike Osmani, P.Geo, and TNR’s qualified person on this news release.
ON BEHALF OF THE BOARD,
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this 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.