TNR Gold Corp (“TNR”) is pleased to provide assay results from 7 diamond drill holes of the 2008 exploration program on its 100% owned El Salto project in Argentina. TNR drilled 12 exploratory drill holes, totalling 6446.45 metres, to evaluate a copper-molybdenum-gold porphyry system on this underexplored property.
Of the 12 drill holes (ES07-01 and ES08-02 to ES-08-12), 8 holes were drilled in the north-western (ES07-01, ES08-02, 03, 04, 07, 10, 11 and 12), and two holes each in the central (ES08-05 and 06) and south-eastern (ES08-08 and 09) parts of the property. These holes targeted a large (4.8 km long and up to 1.3 km wide) IP chargeability anomaly extending from the northwest to southeast end of the property. This anomaly corresponds very well with a distinctive alteration system (largely phyllic with local potassic and silica alteration), and is also partially coincident with geochemical anomalies (copper and molybdenum) delineated during the reconnaissance program in the 2006 and 2007 field season.
Of the 8 drill holes (3,690.55m) that tested the north-western property, 6 holes were located in a stockwork-breccia area. Assay results currently available show copper values exceeding 500ppm (0.05%) in samples from all 6 holes, anomalous molybdenum and, in some instances, gold associated with copper mineralization.
The two drill holes (ES08-08 and 09) in the south-eastern part of the property intersected anomalous copper and molybdenum throughout but yielded no intercepts of economic significance.
The results from drill holes ES08-07 (north-western property), ES08-05, and 06 (central property) are still pending.
Significant intervals of copper and molybdenum mineralization from 7 drill holes in the north-western part of the property are tabulated below.
TABLE: SELECTED ASSAY RESULTS FROM HOLES ES07-01 TO ES08-04 AND
ES08-10 TO ES08-12
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Drill Hole From To Width Cu Mo
Number (m) (m) (m) (%) (%)
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ES07-01 6.00 173.20 167.20 0.077 0.007
199.05 254.40 55.35 0.205 0.012
Includes 217.75 224.00 6.25 0.511 0.015
340.00 367.90 27.90 0.180 0.015
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ES08-02 399.00 421.10 22.10 0.106 0.002
Includes 399.00 401.00 2.00 0.233 0.002
470.30 515.45 45.15 0.078 0.002
581.00 601.05 20.05 0.082 0.003
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ES08-03 95.30 176.70 81.40 0.077 0.002
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ES08-04 185.70 232.25 46.55 0.225 0.002
Includes 208.60 210.60 2.00 0.550 0.001
309.30 417.80 108.50 0.186 0.003
Includes 381.00 411.60 30.60 0.246 0.003
438.70 488.60 49.90 0.106 0.003
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ES08-10 14.50 57.50 43.00 0.215 0.004
Includes 46.45 50.35 3.90 0.317 0.001
114.60 125.00 10.40 0.299 0.001
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Drill Hole From To Width Cu Mo
Number (m) (m) (m) (%) (%)
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ES08-11 3.00 66.40 63.40 0.098 0.003
Includes 23.60 29.60 6.00 0.190 0.001
Includes 57.75 66.40 8.65 0.177 0.0005
243.00 257.60 14.60 0.110 0.003
457.00 476.00 19.00 0.147 0.001
Includes 471.50 476.00 4.50 0.403 0.0005
535.00 546.00 11.00 0.110 0.002
577.50 593.00 15.50 0.094 0.0007
Includes 577.50 582.65 5.15 0.108 0.0005
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ES08-12 9.00 25.85 16.85 0.152 0.008
Includes 9.00 16.00 7.00 0.260 0.008
54.35 168.20 113.85 0.094 0.008
Includes 136.80 165.85 29.05 0.134 0.012
187.50 208.45 20.95 0.115 0.005
570.10 608.00 37.90 0.086 0.001
Includes 570.10 579.30 9.20 0.159 0.0006
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All of the 7 drill holes in the north-western portion of the property with assay results intersected significantly anomalous copper and molybdenum mineralization over relatively large widths. The best mineralized intercepts were observed in drill holes ES07-01 and ES08-04. Drill hole ES07-01, intersecting several stockwork and/or breccia zones within hornfelsic sedimentary host rock, yielded 0.077% copper and 0.007% molybdenum over 167.20 metres (6.00m- 173.20m), and 0.205% copper and 0.012% molybdenum over 55.35 metres (199.05m-254.40m) which includes 0.511% copper and 0.015% molybdenum over 6.25 metres (217.75m-224.00m).
All of the 7 drill holes in the north-western portion of the property with assay results intersected significantly anomalous copper and molybdenum mineralization over relatively large widths. The best mineralized intercepts were observed in drill holes ES07-01 and ES08-04. Drill hole ES07-01, intersecting several stockwork and/or breccia zones within hornfelsic sedimentary host rock, yielded 0.077% copper and 0.007% molybdenum over 167.20 metres (6.00m-
173.20m), and 0.205% copper and 0.012% molybdenum over 55.35 metres (199.05m-254.40m) which includes 0.511% copper and 0.015% molybdenum over 6.25 metres (217.75m-224.00m).
Drill hole ES08-04 targeted a strong chargeability feature situated at the center of a Y-shaped anomaly and located approximately 850 m southeast from drill hole ES07-01. ES08-04 intersected highly anomalous copper and molybdenum mineralization throughout the entire length of the hole. Significant mineralized intercepts contained 0.225% copper and 0.002% molybdenum over 46.55metres (185.7m-232.25m), and 0.186% copper and 0.003% molybdenum over 108.50metres (309.3m-417.8m), which includes 0.246% copper and 0.003% molybdenum over 30.60 metres (381.00m-411.60m).
Assay results from these exploratory holes though sub-economic, are suggestive of a large porphyry system with copper-molybdenum mineralization, especially in the north-western part of the property. Recent mapping also suggests that a substantial part of the north-western area contains a significant hydrothermally altered stockwork-breccia zone. Identification of this zone is an important step in developing the exploration model for El Salto, which is based on Chilean porphyry deposit models.
“We are very encouraged by these results from our first reconnaissance drill program. We have confirmed that we have a large copper-molybdenum porphyry system with anomalous copper and molybdenum values present in seven of the nine holes assayed to date. We will now focus exploration efforts to identify and delineate a high grade core of the system,” says President and CEO of TNR Gold Corp, Gary Schellenberg.
This news release has been prepared under the supervision of Ike Osmani, PGeo, TNR’s qualified person on this news release.
THE EL SALTO PROPERTY
The El Salto property, consisting of 3,300 hectares in the San Juan province, is located within the Yellow Belt District of San Juan, which hosts the two well-known copper deposits, the El Pachon deposit (724 million tons at 0.65 per cent copper) in Argentina and the Los Pelambres mine (1,487 million tons at 0.66 per cent Cu) near the Chile-Argentine border (Note: property and resource figures obtained from Falconbridge/Xstrata and Antofagasta websites).
To view the El Salto News, please click here.
ABOUT TNR
TNR 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 15 properties in Argentina. The company’s focus over the next 12 months is the exploration and development of its El Tapau, El Salto, and Eureka projects in Argentina as well as overseeing the exploration and development of the Iliamna and Shotgun projects in Alaska through its wholly owned US subsidiary.
On behalf of the board,
Gary Schellenberg
President
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.