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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 22, 2005) - Tournigan Gold Corporation (TSX VENTURE:TVC)(FWB:TGP) is pleased to announce acquisition of mining claims covering three highly prospective uranium areas in the Southern Black Hills of South Dakota. The 272 federal lode mining claims cover 21.8 square kilometres (5,440 acres) and reportedly include historical resource estimates as well as considerable historical exploration drilling, based on research by Tournigan's US partner, Sweetwater River Resources LLC. Tournigan is also pleased to provide operational updates on the Jahodna uranium project and the Kremnica gold project in Slovakia. Both projects remain essentially on schedule, but updated resource estimates for each project will now be published mid to late January.
South Dakota Uranium Acquisition
The area covered by the three new Tournigan claim blocks in South Dakota were initially held by Union Carbide and the Tennessee Valley Authority as part of a larger block known as the Chord claims. The Chord claims encompassed more than 40 small open pits as well as a few underground operations. Combined operations on the Chord Property produced uranium intermittently from the early 1950's until the late 1960's, supplying feed to a former mill at Edgemont, South Dakota. These newly acquired claims lie just across the Wyoming-South Dakota border, in close proximity to Tournigan's Wyoming claims.
The three new Tournigan South Dakota claim blocks are known as the Long, RC and DH Claims and are generally located within the Long Mountain structural zone. This northeast trending fault zone, which was partially covered by the historic Chord claims, is approximately two miles wide, with mineralization hosted in four sandstone formations (two in the Cretaceous Lakota Formation and two in the overlying Lakota Formation).
Long Claims
Consisting of 141 claims, the western portion of the Long Claims encompasses a 2.8 mile long by 1.0 mile wide mineralized trend that includes pre-existing Strathmore Minerals claims which cover the historic Viking / Virginia C, and Ridge Runner ore bodies. This trend projects southeast towards the historically significant October - Jinx ore bodies. The eastern portion of the Long Claims surrounds the historic Long Mountain ore bodies, a fraction of which is also covered by Strathmore claims. Union Carbide reported open pit mining " reserves" (historic) from eight deposits containing a combined 323,800 tons with an average grade of 0.062 % U3O8 equating to 402,990 lbs U3O8. The Union Carbide Long Mountain project included a mine plan and Draft Environmental Impact Statement completed in 1981.
RC Claims
Approximately 1 mile to the east of the Long Claims is the 62-claim RC claim-block, which hosts two prospective areas of uranium mineralization as well as the as-yet un-quantified Hot Point ore body.
DH Claims
The DH claim block (69 claims, 1,380 acres) occurs 1 mile to the south of the RC Claims and covers an area reported by the United States Geologic Survey in 1971 to contain " widespread low grade and some economic mineralization" . Historic production was won from several small pits and at least two small underground operations where the reported average grade was 0.25% U3O8 and 0.30% V2O5 (vanadium oxide).
Jahodna Uranium Project Update
Tournigan has completed 3 confirmatory diamond drill holes at the Jahodna uranium project in Slovakia. The program is now on hold due to severe winter weather and the holidays. Geochemical analysis of the split core will be completed shortly by OMAC Labs in Ireland. OMAC is experiencing heavy workloads, but Tournigan believes results will be returned in time to release a National Instrument 43-101-compliant technical report and resource estimate in mid-January, 2006. An independent Preliminary Assessment is planned for early 2006, along with the in-fill and step-out exploration drilling that will follow publication of the resource estimate (as announced October 18, 2005).
Kremnica Gold Project Update
The pre-feasibility RC in-fill drilling is complete at the Kremnica gold project in Slovakia, with final assays received last week. Additional re-assaying of historic diamond drill results from 1996-1997 are in progress, as part of the necessary QA/QC for the current level of feasibility work. The upgraded 43-101-complient technical report and resource estimate is now scheduled for publication by the end of January 2006 by Beacon Hill Consultants. This estimate should provide the requisite Measured and Indicated Resources necessary for Pre-feasibility and Feasibility Studies. The Pre-feasibility Study for Kremnica is in progress by Beacon Hill, scheduled for completion in April 2006.
Tournigan Gold is focused on developing advanced projects in Europe - Kremnica (gold) in Slovakia, Curraghinalt (gold) in Northern Ireland, and Jahodna (uranium/molybdenum) in Slovakia. Tournigan's asset mix also includes a portfolio of uranium properties in Wyoming and South Dakota, as well as VMS projects in Slovakia and Northern Ireland.
TOURNIGAN GOLD CORPORATION
" James Walchuck"
James Walchuck, President and CEO
The Qualified Person for South Dakota, Wyoming, Jahodna and Kremnica, Dr. Kent Ausburn, has reviewed all technical disclosure in this release.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. 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 mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tournigan Gold Corporation
Garry Stock
Executive VP
(604) 683-8320
(604) 683 8340 (FAX)
info@tournigan.com
www.tournigan.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
South Dakota Uranium Acquisition
The area covered by the three new Tournigan claim blocks in South Dakota were initially held by Union Carbide and the Tennessee Valley Authority as part of a larger block known as the Chord claims. The Chord claims encompassed more than 40 small open pits as well as a few underground operations. Combined operations on the Chord Property produced uranium intermittently from the early 1950's until the late 1960's, supplying feed to a former mill at Edgemont, South Dakota. These newly acquired claims lie just across the Wyoming-South Dakota border, in close proximity to Tournigan's Wyoming claims.
The three new Tournigan South Dakota claim blocks are known as the Long, RC and DH Claims and are generally located within the Long Mountain structural zone. This northeast trending fault zone, which was partially covered by the historic Chord claims, is approximately two miles wide, with mineralization hosted in four sandstone formations (two in the Cretaceous Lakota Formation and two in the overlying Lakota Formation).
Long Claims
Consisting of 141 claims, the western portion of the Long Claims encompasses a 2.8 mile long by 1.0 mile wide mineralized trend that includes pre-existing Strathmore Minerals claims which cover the historic Viking / Virginia C, and Ridge Runner ore bodies. This trend projects southeast towards the historically significant October - Jinx ore bodies. The eastern portion of the Long Claims surrounds the historic Long Mountain ore bodies, a fraction of which is also covered by Strathmore claims. Union Carbide reported open pit mining " reserves" (historic) from eight deposits containing a combined 323,800 tons with an average grade of 0.062 % U3O8 equating to 402,990 lbs U3O8. The Union Carbide Long Mountain project included a mine plan and Draft Environmental Impact Statement completed in 1981.
RC Claims
Approximately 1 mile to the east of the Long Claims is the 62-claim RC claim-block, which hosts two prospective areas of uranium mineralization as well as the as-yet un-quantified Hot Point ore body.
DH Claims
The DH claim block (69 claims, 1,380 acres) occurs 1 mile to the south of the RC Claims and covers an area reported by the United States Geologic Survey in 1971 to contain " widespread low grade and some economic mineralization" . Historic production was won from several small pits and at least two small underground operations where the reported average grade was 0.25% U3O8 and 0.30% V2O5 (vanadium oxide).
Jahodna Uranium Project Update
Tournigan has completed 3 confirmatory diamond drill holes at the Jahodna uranium project in Slovakia. The program is now on hold due to severe winter weather and the holidays. Geochemical analysis of the split core will be completed shortly by OMAC Labs in Ireland. OMAC is experiencing heavy workloads, but Tournigan believes results will be returned in time to release a National Instrument 43-101-compliant technical report and resource estimate in mid-January, 2006. An independent Preliminary Assessment is planned for early 2006, along with the in-fill and step-out exploration drilling that will follow publication of the resource estimate (as announced October 18, 2005).
Kremnica Gold Project Update
The pre-feasibility RC in-fill drilling is complete at the Kremnica gold project in Slovakia, with final assays received last week. Additional re-assaying of historic diamond drill results from 1996-1997 are in progress, as part of the necessary QA/QC for the current level of feasibility work. The upgraded 43-101-complient technical report and resource estimate is now scheduled for publication by the end of January 2006 by Beacon Hill Consultants. This estimate should provide the requisite Measured and Indicated Resources necessary for Pre-feasibility and Feasibility Studies. The Pre-feasibility Study for Kremnica is in progress by Beacon Hill, scheduled for completion in April 2006.
Tournigan Gold is focused on developing advanced projects in Europe - Kremnica (gold) in Slovakia, Curraghinalt (gold) in Northern Ireland, and Jahodna (uranium/molybdenum) in Slovakia. Tournigan's asset mix also includes a portfolio of uranium properties in Wyoming and South Dakota, as well as VMS projects in Slovakia and Northern Ireland.
TOURNIGAN GOLD CORPORATION
" James Walchuck"
James Walchuck, President and CEO
The Qualified Person for South Dakota, Wyoming, Jahodna and Kremnica, Dr. Kent Ausburn, has reviewed all technical disclosure in this release.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. 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 mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tournigan Gold Corporation
Garry Stock
Executive VP
(604) 683-8320
(604) 683 8340 (FAX)
info@tournigan.com
www.tournigan.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
