TAC Gold Corp.

September 23, 2010 09:30 ET

TAC Gold Corp.: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2010) - TAC Gold Corp. (CNSX:TCG) (The "Company" or "TAC") -

TAC, a Vancouver based gold exploration company, announces it has completed the first 2 deep core holes (1001 and 1002) of a permitted 21 hole program on the company's Goldfield West property (GFW) in Nevada. Both 1001 and 1002 have encountered thick sections of highly anomalous gold with 1001 having 465' of +0.1 g/t gold and 1002 having 385' of the same. The best 5 foot sample was 0.477 g/t gold in 1001 and 1.450 g/t gold in 1002. The mineralization in 1001 is much more associated with permeable host rock than with structure. Hairline quartz-sulfide veinlets are present but rare in 1001. Gold is related to three separate horizons in 1001 which appear to be more permeable hosts. The basal section of the volcanics is one of these anomalous horizons and verifies the theory of a good host at the base of the volcanics. Mr. Richard Kern TAC's geologist in charge of GFW states, "These results are a verification of the Gemfield model. We have a large cloud of low-grade gold and we need to vector into the higher grade portion of the system. Drilling more deep holes, concentrating on the structures and dikes found with the geophysics is the next step at Nevada Eagle (north target)."

At the South target the gold in 1002 occurs in two separate zones. The first is in permeable tuffaceous sediments with no appreciable structure and the deeper zone is associated with densely welded tuffs that form open-spaced quartz-sulfide veins when fractured. There are numerous veinlets in this lower zone, but each veinlet is very narrow and indicates that the drill hole did not intersect a major structure. No basal volcanic gold anomaly occurs in 1002. The next phase for the South target is to drill a fence (or 2) of angle drill holes (2-3 holes per fence) across the major structure defined by geophysics. The holes should test both mineralized horizons, but don't need to go to the base of the volcanics.

The Company's Goldfield West property is located between International Mineral Corp.'s (T:IMZ) Goldfield (Gemfield) deposit, located to the North, with a estimated gold resource in excess of a 1.0 million ounces and the Goldfield district to the East which has historical production of 4.0 million ounces of gold.

The technical information in this release has been reviewed and approved by Mr. Richard Kern, BSc., M.Sc., P. Geo. Registered Geologist Nevada & California; a 'qualified person', as defined by NI 43-101, Standards for Disclosure of Mineral Projects unless otherwise noted.

TAC Gold Corp. will continue to focus on the acquisition and development of gold projects in the western United States.

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of TAC Gold Corp. Statements regarding future fund raising and completion of the Acquisition are subject to all of the risks and uncertainties normally incident with the raising of capital and completing corporate transactions including, but are not limited to, financing risks, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. TAC Gold Corp. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Contact Information

  • TAC Gold Corp.
    Drew N Brass
    TAC Gold Corp.
    Graham B. Abbott