Tintina Resources Inc.: Additional High-Grade Copper Results from the Sheep Creek Project in Montana, USA
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/04/11 -- Tintina Resources Inc. ('Tintina' or the 'Company') (TSX VENTURE: TAU)(OTCQX: TINTF) is pleased to announce that it has received assay results for an additional seven drill holes from this year's infill drill program on its Sheep Creek Copper(Cu)-Cobalt(Co)-Silver(Ag) property ('Sheep Creek') located in Central Montana, USA (see Figure 1).
Highlights from Upper Copper Zone in-fill drill program at Strawberry Butte:
-- Drill hole SC11-068 drilled 29.35 meters(m) grading 2.13% Cu, 0.09% Co
and 13.8 g/tonne(g/t) Ag with 18.68 meters(m) grading 2.91% Cu, 0.11%
Co, and 14.4 g/tonne (g/t) Ag
-- Drill hole SC11-069 drilled 11.74 m grading 1.59% Cu, 0.05% Co and 15.4
g/t Ag, with 6.69 meters grading 2.32% Cu, 0.07% Co, and 13.9 g/t Ag
-- Drill hole SC11-070 drilled 37.37 m grading 1.60% Cu, 0.06% Co, and 21.1
g/t Ag, with 10.61 meters grading 2.11% Cu, 0.08% Co and 12.0 g/t Ag
These results, together with results released previously, show that significant thicknesses of high grade copper mineralization lay outside the Inferred Resource boundary of the estimate released in January, 2011. These assays complete those the Company will use to calculate an Indicated Resource estimation from our present Upper Copper Zone Inferred Resource. The Company continues drilling with three drill rigs in the Strawberry East target area. The purpose of this drilling is to gain enough additional data to calculate Inferred Resource estimates for the Lower and Middle Copper Zones, and to further investigate the UCZ and other zones in the target area.
Table 1 - Upper Copper Zone Drill Intersections, Strawberry Butte target
area
Hole From (m) To (m) Width (m) Width (ft) Cu % Co % Ag (g/t)
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(i)SC11-065 145.09 145.39 0.30 1.0 1.55 0.01 25.0
(i)SC11-067 134.30 139.04 4.74 15.6 0.88 0.05 14.4
(i)SC11-068 109.75 139.10 29.35 96.3 2.04 0.09 13.8
(i)Including 109.75 128.43 18.68 61.3 2.91 0.11 14.4
(i)SC11-069 119.40 131.14 11.74 38.6 1.59 0.05 15.4
(i)Including 122.45 129.14 6.69 22.0 2.32 0.07 13.9
(i)SC11-070 122.73 159.90 37.17 121.9 1.60 0.06 21.1
(i)Including 124.73 135.34 10.61 34.8 2.11 0.08 12.0
(i)SC11-071 134.03 137.60 3.57 11.7 1.27 0.02 20.4
SC11-074 187.90 190.85 2.95 9.7 1.70 0.07 51.4
(For previous Tintina Resources and historic results at Sheep Creek please see News Releases dated October 20, 2010; October 27, 2010; January 6, 2011; April 26, 2011; May 4, 2011; June 21, 2011; June 28, 2011; July 28th, 2011; August 17, 2011; and August 30, 2011. Holes with an '(i)' lie outside the January 6, 2011 Inferred Resource boundary and may expand the resource.)
As disclosed on January 6, 2011, and on August 17, 2011 the following undiluted Sheep Creek property Inferred Resources for the Upper Copper Zone (UCZ) and the Lower Copper Zone (LCZ) using a 1.5% Cu cutoff are tabled below:
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Tonnes Cu Co Ag Cu lbs Co lbs Ag ozs
Zone (000) (%) (%) (g/t) (millions) (millions) (millions)
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UCZ 7,037 2.36 0.12 12.3 366 19 2.8
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LCZ 2,462 4.71 0.06 5.1 256 3 0.4
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Total 9,499 2.97 0.10 10.4 622 22 3.2
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Presently the Company is carrying out resource definition drilling on both the Lower Copper Zone and Middle Copper Zone massive sulfides on the Strawberry East target area where copper mineralization is associated with multiple mineralized horizons.
Jerry Zieg, Vice President of Exploration for the Company is a Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the information of a scientific nature contained in this news release. Assays for this program have been completed by ALS Chemex including duplicates, standards, and blanks for QA/QC purposes.
About Tintina Resources Inc.
Tintina Resources Inc. is a growth company focused on the exploration and development of base and precious metal properties around the world. The Company's experienced Board of Directors and Management Team are focused on advancing the Sheep Creek Cu-Co-Ag property in Montana towards a production decision. The Company is also exploring an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project located in southwest Alaska in the same region as the 40 million ounce Donlin Creek project.
About Sheep Creek
The Sheep Creek deposit is located approximately 17 miles north of White Sulphur Springs within two miles of U.S. Highway 89 along a well-maintained gravel road. The Sheep Creek property consists of approximately 12,225 acres of fee simple lands and mining claims in central Montana. The property contains sediment-hosted zones of massive sulfide mineralization originally explored by Cominco American Inc. and BHP during the 1980's and early 1990's. Historical drilling encountered significant zones of strata-bound copper sulfide with associated cobalt and silver mineralization in multiple, bedded massive pyrite horizons in the lower part of the Precambrian Belt Supergroup. This same stratigraphic unit hosts the famous Sullivan zinc-lead-silver deposit in southeastern B.C. In a short period of time the Company has been able to establish Inferred Resources on the Upper & Lower Copper Zones at Strawberry Butte (please see Company News Releases dated January 6, 2011 & August 17, 2011). The Company continues to evaluate several tabular mineralized zones along a four kilometer strike length. The Company has two drill rigs on site and will continue drilling over the course of 2011.
Tintina is preparing an advanced underground exploration proposal which includes an evaluation decline and ancillary facilities, all located on private land in Meagher County, for presentation to the State's appropriate authorities.
About Mining in Montana
Montana has been known as a mining state for a well over 100 years. Today, more than two dozen mining operations are active making mining a cornerstone contributor to the State's GDP. Tintina has met with State regulators and looks forward to presenting the Sheep Creek project, as an underground mine with a small footprint located on private land. The project continues to benefit from broad local community support.
ON BEHALF OF THE BOARD OF DIRECTORS
Louis A. Lepry, Jr., President & CEO
To view the figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/tintinmaps104.pdf
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Company's plans for and intentions with respect to exploration of the Company's Sheep Creek property, constitutes 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any government or other regulatory approvals and any financing required to complete the Company's planned exploration activities, that the Company is able to procure equipment and supplies in sufficient quantities and on a timely basis, that the Company's exploration activities on the Sheep Creek property will not be affected by actions of environmental activists or other special interest groups, and that actual results of exploration activities are consistent with management's expectations. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Tintina Resource's operation as a mineral exploration company and the Sheep Creek property that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, actual results of the Company's exploration activities being different than those expected by management, uncertainties involved in the interpretation of drilling results and geological tests, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, interference with Tintina Resource's exploration activities by environmental activists or other special interest groups, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdowns and bad weather. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Tintina Resources does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Tintina Resources Inc.
Philippe Van Nieuwenhuyse
Investor Relations
604.628.1162
604.628.1163 (FAX)
philvann@tintinaresources.com
www.tintinaresources.com
