Timmins Gold Corp.
TSX : TMM

Timmins Gold Corp.

November 01, 2011 06:30 ET

Timmins Gold Intersects 38.10 Metres of 5.12 g/t Gold Below Existing Pit Floor of San Francisco Open Pit and 100.06 Metres of 1.00 g/t Gold in the La Chicharra Open Pit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2011) - Timmins Gold Corp. (TSX:TMM) announces that significant mineralization continues to be intersected in its ongoing July-December, 2011 drill program at the San Francisco Mine, which includes both exploration and infill drilling in and around the San Francisco and La Chicharra open pits. Results from the July-December, 2011 drill program will be incorporated in an updated NI 43-101 Technical Report in early 2012.

A total of approximately 52,000 metres of drilling, including both reverse circulation and core drilling, were completed during the months of August, 2011 and September, 2011. 24,400 metres were drilled in and around the San Francisco open pit distributed over 4 core holes and 85 holes of reverse circulation and 27,600 metres of reverse circulation in and around the La Chicharra pit distributed over 127 drill holes. The La Chicharra pit is located approximately 1.5 kilometres to the west of the San Francisco pit.

Drilling has confirmed the continuity and extensions of the mineralization, both along strike and down dip and below the existing pit floor at both the San Francisco and La Chicharra open pits. In addition, assays received from drilling completed in August and September returned some of the highest grades intercepted to date from the San Francisco pit

Hole TF-1379 which was drilled from the bottom of the San Francisco pit intersected an interval of 38.1 metres grading 5.129 g/t gold including 1.52 metres of 25.42 g/t gold, 15.24 metres of 8.347 g/t gold and ended in an interval of 1.52 metres of 77.348 g/t gold. The current pit bottom is 140 metres from surface and this interval was intersected only 30 metres below the current pit bottom.

Hole TF-1377 intercepted 80.77 metres of 0.822 g/t gold including 1.52 metres of 3.547 g/t gold, 9.14 metres of 3.456 g/t gold and 3.05 metres of 2.075 g/t gold. The hole ended in an intercept of 1.52 metres grading 52.66 g/t gold.

Highlights of selected drill holes from the San Francisco pit are as follows:

Table 1
Significant Assay Results for August and September 2011 from the San Francisco Open Pit
Drill Hole Number Depth (m) Section Line Drill Intersections
From (m) To (m) True Width (m) Au g/t
TF-1375 243.84 720 W 13.72 16.76 3.05 1.567
Includes 13.72 15.24 1.52 2.971
and 129.54 149.35 19.81 1.378
Includes 132.59 135.64 3.05 2.032
Includes 138.68 140.21 1.52 3.061
TF-1376 245.36 880 W 38.10 70.10 32.00 1.031
Includes 42.67 50.29 7.62 2.249
and 167.64 173.74 6.10 1.209
Includes 170.69 172.21 1.52 3.208
TF-1377 274.32 860W 32.00 112.78 80.77 0.822
Includes 32.00 33.53 1.52 3.547
Includes 42.67 51.82 9.14 3.456
Includes 73.15 76.20 3.05 2.075
and 118.87 120.40 1.52 1.113
and 271.27 274.32 3.05 27.745
Includes 272.80 274.32 1.52 55.266
TF-1378 298.7 800 W 12.19 13.716 1.52 1.472
and 62.48 91.44 28.96 1.197
Includes 67.06 70.10 3.05 7.227
Includes 86.87 88.39 1.52 2.277
Includes 108.20 111.25 3.05 2.259
and 188.98 190.5 1.52 1.135
TF-1379 242.32 960W 0.00 15.24 15.24 0.714
and 30.48 68.58 38.10 5.129
Includes 48.77 50.29 1.52 25.422
Includes 53.34 68.58 15.24 8.347
Includes 65.53 67.06 1.52 77.348
TF-1380 303.28 980 W 9.14 12.19 3.05 2.203
Includes 9.14 10.67 1.52 4.246
and 80.77 99.06 18.29 3.777
Includes 83.82 86.87 3.05 3.266
Includes 91.44 92.96 1.52 36.773
TF-1381 304.8 1000 W 7.62 13.72 6.10 4.698
Includes 7.62 12.19 4.57 6.185
and 42.67 44.20 1.52 1.017
TF-1382 289.56 980 W 0.00 22.86 22.86 0.896
Includes 16.76 18.29 1.52 2.022
and 42.67 74.68 32.00 1.036
Includes 53.34 54.86 1.52 4.499
Includes 60.96 68.58 7.62 1.792
TF-1384 277.37 980 W 67.06 68.58 1.52 3.231
and 88.39 89.92 1.52 1.745
and 158.50 170.69 12.19 0.602
Includes 169.16 170.69 1.52 2.914
TF-1385 243.84 740 W 32.00 56.39 24.38 0.937
Includes 32.00 35.05 3.05 5.592
Includes 67.06 68.58 1.52 2.248
Includes 137.16 138.68 1.52 5.631
TF-1386 292.61 980 W 16.76 30.48 13.72 1.071
Includes 16.76 18.29 1.52 2.351
Includes 27.43 28.96 1.52 3.630
and 42.67 60.96 18.29 1.769
Includes 51.82 53.34 1.52 3.530
Includes 56.39 59.44 3.05 8.085
and 73.15 77.72 4.57 1.193
and 82.30 91.44 9.14 2.010
Includes 89.92 91.44 1.52 9.252
and 115.82 124.97 9.14 1.153
Includes 121.92 123.44 1.52 4.552
and 201.17 207.26 6.10 1.143
Includes 202.69 204.22 1.52 2.718
TF-1387 249.84 760 W 50.29 53.34 3.05 2.597
Includes 50.29 51.82 1.52 5.066
and 173.74 181.36 7.62 1.389
Includes 175.26 176.78 1.52 5.548
TF-1388 304.8 980 W 45.72 47.24 1.52 1.277
and 54.86 56.39 1.52 1.257
Includes 96.01 97.54 1.52 2.817
Includes 112.78 114.30 1.52 14.579
TF-1389 237.84 780 W 50.29 103.63 53.34 0.544
Includes 64.01 65.53 1.52 2.319
Includes 80.77 82.30 1.52 2.694
and 134.11 141.73 7.62 0.505
and 175.26 176.78 1.52 1.917
and 182.88 184.40 1.52 0.399
TF-1391 246.89 820 W 30.48 33.53 3.05 2.931
Includes 32.00 33.53 1.52 4.124
and 39.62 82.30 42.67 1.679
Includes 41.15 56.39 15.24 3.559
Includes 64.01 65.53 1.52 2.293
Includes 70.10 71.63 1.52 2.662
and 123.44 126.49 3.05 1.228
Includes 123.44 124.97 1.52 2.169
Includes 155.45 156.97 1.52 2.277
TF-1392 243.84 820 W 4.57 33.53 28.96 1.305
Includes 6.10 7.62 1.52 4.546
Includes 9.14 10.67 1.52 5.968
and 44.20 82.30 38.10 1.110
Includes 60.96 64.01 3.05 2.262
Includes 70.10 71.63 1.52 3.532
Includes 74.68 76.20 1.52 7.992
and 108.20 118.87 10.67 0.551
and 236.22 246.89 10.67 0.574
TF-1393 243.84 700 W 48.77 51.82 3.05 1.639
Includes 50.29 51.82 1.52 2.885
and 91.44 92.96 1.52 3.167
and 155.45 156.97 1.52 1.246
and 242.32 243.84 1.52 0.882
TF-1394 243.84 840 W 0.00 4.57 4.57 1.326
and 16.76 27.43 10.67 0.890
Includes 18.29 19.81 1.52 2.082
and 42.67 59.44 16.76 1.550
Includes 50.29 59.44 9.14 2.056
and 86.87 91.44 4.57 0.723
and 108.20 114.30 6.10 0.837
Includes 109.73 111.25 1.52 2.109
TF-1395 243.84 840W 3.05 9.14 6.10 1.131
Includes 4.57 6.10 1.52 2.418
and 35.05 42.67 7.62 2.913
and 54.86 94.49 39.62 1.586
Includes 57.91 70.10 12.19 4.278
TF-1397 243.84 860 W 18.29 41.15 22.86 0.660
Includes 21.34 22.86 1.52 2.295
Includes 28.96 30.48 1.52 2.436
and 51.82 70.10 18.29 1.234
Includes 51.82 53.34 1.52 2.775
Includes 65.53 67.06 1.52 3.068
Includes 51.82 70.10 18.29 2.725
and 102.11 115.82 13.72 1.708
Includes 109.73 111.25 1.52 13.276
and 120.40 132.59 12.19 0.565
Includes 128.02 129.54 1.52 3.460
and 137.16 144.78 7.62 0.839
Includes 140.21 141.73 1.52 2.868
and 149.35 156.97 7.62 0.605
TF-1398 236.22 660 W 3.05 25.91 22.86 1.266
Includes 3.05 4.57 1.52 3.988
Includes 6.10 7.62 1.52 2.679
Includes 10.67 12.19 1.52 7.069
and 85.34 109.73 24.38 1.309
Includes 86.87 88.39 1.52 2.374
Includes 97.54 105.16 7.62 2.428
and 163.07 172.21 9.14 0.757
Includes 166.12 167.64 1.52 2.206
TF-1403 310.9 500 W 92.96 106.68 13.72 3.502
Includes 94.49 99.06 4.57 8.877
and 115.82 124.97 9.14 2.442
Includes 115.82 118.87 3.05 4.765
Includes 121.92 123.44 1.52 4.401
TF-1406 243.84 640 W 0 16.76 16.76 1.321
Includes 10.67 12.19 1.52 4.202
Includes 13.72 15.24 1.52 8.394
and 68.58 74.68 6.10 1.555
Includes 70.10 73.15 3.05 2.553
and 150.88 155.45 4.57 1.032
TF-1407 243.84 600 W 70.10 109.73 39.62 0.631
Includes 70.10 71.63 1.52 2.723
Includes 76.20 77.72 1.52 2.044
Includes 103.63 105.16 1.52 4.741
and 153.92 155.45 1.52 0.989
and 161.54 164.59 3.05 5.213
Includes 161.54 163.07 1.52 8.626
TF-1409 323.09 620 W 51.82 53.34 1.52 3.558
and 80.77 97.54 16.76 1.128
Includes 89.92 91.44 1.52 6.608
and 141.73 150.88 9.14 5.965
Includes 143.26 144.78 1.52 32.445
and 266.70 272.80 6.10 1.040
and 278.89 320.04 41.15 0.816
Includes 289.56 291.08 1.52 3.669
Includes 295.66 297.18 1.52 2.125

Drilling at La Chicharra focused on infill drilling and exploration holes to the northwest of the existing open pit with the objective of defining the structural control of the known mineralization in the pit.

Hole TF-1696 intersected an interval of 100.06 metres grading 1.00 g/t gold, including an interval of 10.67 metres of 2.429 g/t gold, 9.18 metres of 1.363 g/t gold, 7.62 metres of 1.481 g/t gold and ended in 13.73 metres of 2.09 g/t gold.

Drill hole TF-1638 intersected 22.90 metres of 0.921 g/t gold including 3.05 metres of 2.362 g/t gold. Drill hole TF-1645 drilled along the same section but 50 metres to the southwest intercepted a mineralized interval commencing at surface, of 19.6 metres of 0.65 g/t gold. This interval included 7.62 metres of 1.26 g/t gold. Drill hole TF-1640 intercepted multiple mineralized zones starting at 9.14 metres depth to the north and west of the pit including 12.2 meters of 0.95 g/t gold.

Highlights of selected drill holes from the La Chicharra pit are as follows:

Table 2
Significant Assay Results for August and September 2011 from the La Chicharra Open Pit
Drill Hole Number Depth (m) Section Line Drill Intersections
From (m) To (m) True Width (m) Au g/t
TF-1638 210.31 2820W 6.10 28.96 22.90 0.920
Includes 13.72 16.76 3.05 2.360
TF-1640 201.17 2780W 41.15 53.34 12.20 0.950
Includes 44.20 48.77 4.60 1.920
Includes 45.72 47.24 1.52 3.140
and 57.91 71.63 13.70 0.550
Includes 62.48 65.53 3.05 1.390
and 79.25 80.77 1.52 1.160
and 199.64 201.17 1.52 1.310
TF-1641 192.02 2820W 0.00 19.81 19.80 0.650
Includes 0.00 7.62 7.62 1.260
and 99.06 100.58 1.52 0.610
TF-1643 82.82 2800W 0.00 16.80 16.80 0.690
Includes 3.05 4.57 1.52 1.260
Includes 6.10 10.67 4.60 1.260
TF-1645 185.93 2800W 27.43 39.62 12.20 1.050
Includes 27.43 30.48 3.05 3.200
TF-1646 210.31 and 45.72 68.58 22.90 0.710
Includes 54.86 60.96 6.10 1.580
and 146.30 147.83 1.52 0.590
TF-1647 182.88 2780W 0.00 16.76 16.70 0.540
Includes 12.19 15.24 3.05 2.230
and 51.82 54.86 3.05 1.030
and 124.97 128.02 3.05 0.730
Includes 124.97 126.49 1.52 1.320
and 153.92 161.54 7.60 1.230
Includes 155.45 156.97 1.52 3.590
TF-1648 164.59 and 16.76 19.81 3.05 0.650
Includes 16.76 18.29 1.52 1.180
and 57.91 60.96 3.05 3.030
Includes 57.91 59.55 1.52 4.430
TF-1651 255.55 2840W 0.00 9.14 9.10 0.830
Includes 0.00 3.05 3.05 1.230
and 24.38 32.00 7.60 0.710
Includes 27.43 30.48 3.05 1.380
and 48.77 50.29 1.52 1.470
TF-1654 124.97 2580W 38.10 45.72 7.60 0.540
Includes 39.62 41.15 1.52 1.480
and 76.20 79.25 3.05 0.610
Includes 76.20 77.72 1.52 1.020
TF-1656 173.74 2760W 0.00 9.14 9.14 0.926
Includes 0.00 3.05 3.05 1.260
Includes 6.10 7.62 1.52 1.816
TF-1662 182.88 2840W 41.15 68.58 27.43 0.556
Includes 41.15 42.67 1.52 2.110
Includes 45.72 47.24 1.52 1.425
Includes 57.91 59.44 1.52 1.020
Includes 65.53 67.06 1.52 1.080
TF-1668 155.44 and 25.91 27.43 1.52 0.886
and 82.30 92.96 10.66 0.587
Includes 91.44 92.96 1.52 2.930
and 96.01 108.20 12.19 0.508
Includes 103.63 105.16 1.52 1.100
and 118.87 128.02 9.15 3.011
Includes 118.87 120.40 1.52 17.150
TF-1673 152.40 2540W 68.58 106.68 38.10 0.536
Includes 76.20 79.25 3.05 1.238
Includes 91.44 92.96 1.52 3.200
Includes 96.01 97.54 1.52 1.020
and 124.97 134.11 9.14 0.590
Includes 124.97 126.49 1.52 1.540
TF-1677 155.45 2520W 9.14 48.77 39.63 0.625
Includes 19.81 21.34 1.52 1.190
Includes 25.91 27.43 1.52 1.925
Includes 30.48 35.05 4.57 1.065
Includes 36.58 38.10 1.52 3.480
TF-1678 204.22 2500W 76.20 138.68 62.48 0.544
Includes 88.39 89.92 1.52 1.215
Includes 102.11 106.68 4.57 1.464
Includes 111.25 118.87 7.62 1.157
TF-1679 210.31 2840W 36.58 83.82 47.24 0.500
Includes 38.10 39.62 1.52 1.020
Includes 56.39 60.96 4.57 1.255
Includes 67.06 70.10 3.04 1.126
TF-1696 283.46 2600W 149.35 249.41 100.06 1.000
Includes 153.92 164.59 10.67 2.429
Includes 176.78 185.93 9.18 1.363
Includes 187.45 195.07 7.62 1.481
Includes 217.93 231.65 13.73 2.090
TF-1701 271.27 2620W 153.92 160.02 6.10 1.929
Includes 156.97 158.50 1.52 6.980
and 167.64 196.60 28.96 1.289
and 222.50 227.08 4.57 0.582
and 233.17 237.74 4.57 0.650
Includes 236.22 237.74 1.52 1.330
TF-1703 269.75 2640W 45.72 47.24 1.52 0.553
and 135.64 201.17 65.53 0.768
Includes 143.26 149.35 6.10 2.821
Includes 166.12 167.64 1.52 1.435
Includes 170.69 172.21 1.52 1.490
Includes 179.83 181.36 1.52 2.770

The Company continues drilling and expects to complete in excess of 120,000 metres of drilling from July, 2011 to December 31, 2011. Further drill results will be provided on an ongoing basis.

This press release was reviewed and prepared by Lawrence A. Dick, Ph.D., P.Geo., a director of the Company, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101 and by Miguel Soto, P. Geo., a director and the COO of the Company.

About Timmins Gold

Focused solely in Mexico, Timmins Gold Corp. is in commercial gold production at its wholly owned San Francisco gold mine in Sonora, Mexico. The mine is a past-producing open pit heap leach operation. Timmins Gold has forecast production at a rate in excess of 100,000 ounces of gold per year. (Micon International NI 43-101F1 Technical Report dated November, 2010.)

This News Release contains forward-looking statements. Forward-looking statements are statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX accepts responsibility for the adequacy or accuracy of this release.

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