Tenke Mining Corp.
TSX : TNK

Tenke Mining Corp.

May 11, 2006 16:37 ET

Tenke Argentina Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 11, 2006) - Tenke Mining Corp. ("Tenke" or "the Company") (TSX:TNK) is pleased to provide an update on its work programs in Argentina during the 2005/2006 exploration season.

The 2005/2006 high Andes exploration season which is now winding down with the onset of winter marked the largest exploration program in the Corporation's history, with 7 different targets explored with a total of 16,000 metres of drilling. Several other properties were advanced with surface sampling and geophysics to provide a pipeline of exploration targets for the future. A summary of exploration results by property follows:

Josemaria: A program of step out and deep drilling was conducted at Josemaria to expand the resource size and to pursue the potential of a deep seated core to the deposit. Mineralization in excess of 800 metres from surface was encountered within the area of the previously delineated resource, nearly doubling the depth of previous drilling. This season's drilling should significantly expand the inferred resource of 374 million tonnes grading 0.40% copper and 0.29 gpt gold (0.3% copper cutoff) which was published at the beginning of the year (report dated January 23, 2006 by John Nilsson, P.Eng. of Nilsson Mine Services Ltd. and Mario Rossi, M.Sc. of Geosystems International Inc.). A step out drill hole to the northwest also encountered deposit average grade mineralization further expanding Josemaria's size potential. Additional drilling is being planned stepping out to the northwest, along with preliminary metallurgical characterization of samples.

Sillimanita: This property is directly across the valley from Josemaria. Mapping and surface geochemical sampling, followed by geophysics and a first phase of scout drilling were accomplished in the first quarter. All three holes hit low grade copper/gold molybdenum mineralization. A second phase of drilling is being planned for next season to pursue the potential for higher grade mineralization at this new porphyry project.

Vicuna Properties: This San Juan Province/Chilean property package is being explored in partnership with a Japanese group known as JOGMEC and has several different copper focused targets being drilled with JOGMEC funding. During the season, deep drilling to further test the Filo del Sol project successfully identified continuous copper/gold mineralization down to a depth of more than 450 metres.

Las Flechas: The level of exploration activity significantly increased during the quarter on two zones within the large Las Flechas property concessions, with the Cerro Dante and La Aparecida copper/gold targets being developed for drilling during the second quarter.

El Bagual: At this epithermal gold/silver property in Santa Cruz Province, Patagonia, a second phase of drilling was conducted testing the Apoyada, Portones and Gritona vein systems and a diatreme between these targets. Drilling on the Apoyada vein produced additional narrow high grade gold vein results expanding the potential strike length of this mineralized structure to about 750 metres, with average apparent widths between 0.5 - 2.5 m. Surface exploration was conducted on the Cerro Cuadrado property about 5 kilometres to the northwest of El Bagual and a high grade silver target has been identified for further exploration.

Paramillos: Considerable effort was expended during the first quarter to resolve permitting and other local issues inhibiting the start of drilling at the Paramillos porphyry property in Mendoza. Meetings were held with National and Provincial authorities and local stakeholders to resolve issues and substantial progress was made. Drilling is scheduled in the near future for this copper/gold project which has both oxide and sulphide resource potential.



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2005/2006 Exploration Season Highlights
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Project Hole From (m) To (m) Interval (m) Au (g/t) Cu %
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Josemaria JM RC 32 0 176 176 0.370 0.400
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incl. 42 176 134 0.380 0.520
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AP DDH 06 0 282 282 0.268 0.265
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incl. 0 72 72 0.413 0.177
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incl. 170 184 14 0.451 0.430
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incl. 186 204 18 0.299 0.490
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DDH 06 282 568 568 0.100 0.161
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incl. 290 300 10 0.330 0.510
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incl. 316 327 11 0.286 0.458
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incl. 364 386 22 0.169 0.261
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incl. 453 535 82 0.138 0.192
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DDH 07 0 850 850 0.235 0.294
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incl. 32 70 38 0.209 0.463
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incl. 147 152 15 0.300 0.289
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incl. 190 439 249 0.431 0.443
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incl. 533 554 21 0.190 0.318
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incl. 568 607 39 0.162 0.313
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incl. 692 702 10 0.183 0.327
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incl. 713 739 26 0.170 0.303
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Vicuna VRC 34 0 250 250 0.241 0.225
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incl. 108 250 142 0.355 0.388
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incl. 100 178 78 0.562 0.523
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VRC 35 0 324 324 0.477 0.290
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incl. 40 50 10 0.458 0.026
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incl. 110 130 20 0.374 0.220
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incl. 196 238 42 0.315 0.818
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incl. 244 262 18 0.765 0.666
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incl. 268 292 24 1.800 0.354
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incl. 278 324 46 1.180 0.254
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VRC 36 0 400 400 0.347 0.377
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incl. 62 74 12 0.612 0.198
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incl. 100 120 20 0.200 0.980
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incl. 182 196 14 0.220 0.857
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incl. 298 400 102 0.510 0.308
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VRC 38 0 456 456 0.328 0.265
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incl. 2 24 22 0.836 0.014
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incl. 172 198 26 0.329 0.314
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incl. 228 356 128 0.455 0.398
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incl. 244 272 28 0.639 0.756
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incl. 420 456 36 0.364 0.435
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Silimanita SRC 01 0 353 353 0.030 0.104
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incl. 4 40 36 0.059 0.383
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SRC 02 0 400 400 0.010 0.059
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incl. 294 302 8 0.007 0.281
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SRC 03 0 377 377 0.012 0.199
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incl. 62 90 28 0.032 0.388
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incl. 192 200 8 0.018 0.395
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incl. 264 278 14 0.019 0.593
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incl. 310 320 10 0.010 0.359
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SDDH-01 0 494.45 494.45 0.019 0.124
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incl. 39 55 16 0.037 0.324
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incl. 117 124 7 0.047 0.332
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Tenke's exploration programs in Argentina are carried out under the direction and management of J. Patricio Jones, PhD. and Ricardo Martinez, MSc. (Geology). Dr. Jones holds a Master of Science degree in geology from Witwatersrand University and a Doctorate from La Plata University. Dr. Jones and Mr. Martinez both have many years of experience as exploration geologists and were the same team that discovered the Veladero gold deposit (12+ million ounces) in Argentina and the initial development of the Alumbrera copper/gold project. Information and results from the exploration programs carried out on Tenke's properties are reviewed by Mr. Paul K. Conibear, P.Eng., President of Tenke Mining Corp., who is an appropriately qualified person as defined by National Instrument 43-101. Mr. John Nilsson, P.Eng., of Nilsson Mine Services, has been retained as the independent engineer responsible for production of the initial resource estimate for the Josemaria property, supported by associate Mr. Mario Rossi for geologic modeling and geo-statistics. Samples are sent to ALS Chemex labs in Mendoza Argentina and Santiago, Chile, for analysis using conventional ICP methods with multi-acid digestion. A 50 gram fire assay with AA (atomic absorption) finish is run on all samples for gold. A series of blanks are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards.

On Behalf of the Board

Paul K. Conibear, President


Contact Information

  • Tenke Mining Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)
    www.tenke.com