Tawsho Mining Inc.

Tawsho Mining Inc.

November 18, 2010 08:30 ET

Tawsho Mining Announces Phase 1 Drilling Results at Whisker Valley, Newfoundland

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2010) - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or "Company") announces the results of its summer 2010 drilling program on its Whisker Valley property, Newfoundland.

Eleven exploratory holes (total drill length: 1,044.1 m) were drilled to spatially extend mineralization from its known location and to collect geological, structural and mineralogical data that would define the mineralized attributes for this particular area. These data will be used to determine the location of future exploration drill holes. The location for the eleven holes was based on historical IP data.

The following table partially summarizes the results of these findings:

Drill Hole Number   Mineralized Interval m   Core Interval m   Recovered Interval m   Gold Assay  g/t
Hole 10-02   14 to 17   3.00   0.64   0.10
    17 to 20   3.00   0.33   1.47
    20-22   2.00   0.94   0.08
Hole 10-04   8 to 10   2.00   0.43   0.10
    10-10.5   1.50   0.50   1,28
    10.5-11   0.50   0.30   8.01
    11 to 12.5   1.50   1.00   0.26
    12.5-14.0   1.50   0.50   0.96
    16.4-16.7   0.30   0.30   0.22
    100-101   1.00   0.60   0.22
    112-113   1.0    0.90   0.46
Hole 10-06   131-131.5   0.50   0.50   2.66
    131.5-132   0.50   0.50   0.97
    132-133   1.00   1.00   0.01
    133-134   1.00   1.00   0.46
    145-147   2.00   0.90   0.18
Hole 10-09   16-17   1.00   1.00   0.27
    31-32   1.00   1.00   0.11

All holes intersected rock units that contained hydrothermally altered intervals. The mineral assemblages in these altered intervals and the presence of a carbonate-silica vein stockwork in felsic volcanic units intruded by their parental magma source in the mineralized sections are very encouraging. This association has been noted in other large gold deposits that have been recently discovered in the Yukon and elsewhere.

The core intervals having reported Au assays in the table above, however, generally have poor to very poor recovery, largely due to their altered and brecciated nature. In most instances, however, it can be assumed that the missing rock intervals still contained gold. For example, the drill-cutting sludge in hole 10-04 was panned and several visible gold flakes were recovered indicating that the rock intervals which had been ground and flushed as cuttings to surface during drilling, contained gold.

Of further importance, is the easy access to the property by road ; availability of experienced labour and technical professionals and existing infrastructure, all of which have contributed to the success of this initial gold exploration program. 

"It is the opinion of management that these results are most encouraging and warrant a further drilling campaign in the immediate vicinity of the gold mineralization that has been discovered. This campaign that is scheduled to commence at the beginning of February, 2011, will attempt to further delineate both the nature and the extent of the gold mineralization in this small section of the entire Whisker Valley project optioned by Tawsho," stated Joseph Feldman, President.

During October, 2010 the company completed a soil sampling program on 25.5 km of cut lines adjacent to and over the Sidewinder, the Kruger and the MacKenzie historical gold showings that are located approximately 2 - 2.5km WNW from the Road Gold Showings referred to above. The soil samples are presently being analyzed at Eastern Analytical Laboratories.

To further extend the IP survey coverage completed in summer of 2010, an additional 10 km of new lines are being cut to allow for the upcoming IP survey that will be carried out during the current month of November 2010.

In addition, from the historical analytical data completed on the area over the last two decades, the analytical results obtained by Tawsho for the grab samples collected in 2010, the samples collected by Bayswater in 2008 from trenches, and from the three short drill holes over the mineralized zone, are all in the process of being compiled and geochemical maps are being prepared. This work is being completed to assist in the planning of the winter drilling program that is scheduled for mid-February, 2011.

The contents of this press report have been reviewed by Elizabeth A. Vida, P. Geo. Edward Procyshyn P. Geo. and Michael M. Avedesian P. Eng., all of whom are qualified persons as defined by NI 43-101.

Tawsho is also pleased to announce that Michael M. Avedesian, a member of the Board of Directors has agreed to assume the position of CEO of the company as of November 1, 2010.


Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration projects. The Corporation is presently engaged in developing its projects in the Chevrier Region of Quebec and in Whisker Valley, Baie Verte, Newfoundland. Tawsho currently has approximately 22 Million shares outstanding.

Neither the TSX Venture Exchange nor its Regulations Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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