TintinaGold Resources Inc.
TSX VENTURE : TAU

TintinaGold Resources Inc.

November 16, 2010 08:31 ET

TintinaGold Intersects 8.72% Copper and 0.11% Cobalt Over 6.35 Meters on Its Sheep Creek Property, Montana, USA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2010) - TintinaGold Resources Inc. ("TintinaGold" or the "Company") (TSX VENTURE:TAU) is pleased to announce that it has received additional assay results from the 2010 drill program on its Sheep Creek Copper-Cobalt property ("Sheep Creek") located in Central Montana, USA (see Figures 1-6). 

Highlights:

  • DDH SC10-005 encounters 8.72% Cu and 0.11% Co over 6.35 meters

The Company has received assay results from its fifth hole in its verification drilling program at its Sheep Creek property in central Montana, USA (see Table 1, below). 

Table 1 – Significant Drill Intersections:

Hole From (m) To (m) Width (m) Width (ft) Cu % Co %
Upper Copper Zone            
             
DDH SC10-001* 118.26 125.00 6.74 22.1 3.44 0.18
DDH SC10-002* 131.31 138.77 7.46 24.5 2.48 0.36
DDH SC10-003* 131.88 139.50 7.62 25.0 3.21 0.17
DDH SC10-004* 107.90 118.41 10.51 34.5 3.03 0.15
             
Lower Copper Zone            
             
DDH SC10-003* 350.02 351.69 1.67 5.6 3.24 0.05
DDH SC10-004* 414.00 418.05 4.05 13.3 10.84 0.03
             
DDH SC10-005 405.8 412.15 6.35 20.8 8.72 0.11

*-previously reported

The first four holes drilled encountered a shallow tabular zone of copper-rich zone, (the 'Upper Copper Zone'), with bands of massive chalcopyrite concentrated within a fine grained massive pyritic sulfide layer in a shale and debris flow conglomerate host (see Figure 2 through Figure 6, below). In addition, deeper drilling in SC10-003, SC10-004 and SC10-005 encountered a deeper zone, (the 'Lower Copper Zone'), with high concentrations of copper and cobalt in sulfide layers. SC10-005 lies 570 meters east of SC10-004, and in an area where the Upper Copper Zone is eroded away. Drilling has begun on SC10-006 and targets additional mineralization situated 2.3 kilometers southeast of SC10-005. 

The current drill program is intended to verify historic results from drilling completed by Cominco American Inc., BHP, and Utah International between 1985 and 1989. Those results led Cominco American Inc. to report a historic resource estimate based on 42 drill holes. Figures 1 and 2 show the distribution of both historic and current drill holes. The historic resource is non-compliant with NI 43-101 standards and is not being relied upon for resource estimation purposes. The Company plans to establish a NI 43-101 compliant resource based on a new in-fill and verification drill program by year end, and to build additional resources from other copper mineralized target areas on the property.

Jerry Zieg, Vice President of Exploration, said "Our drilling has succeeded in verifying the presence of significant high grade copper-cobalt resources in multiple deposits at Sheep Creek. We plan to upgrade these with continued drilling through the coming winter." 

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 Sheep Creek

The Sheep Creek deposit sits 27 km north of White Sulphur Springs along maintained gravel road and within two miles of U.S. Highway 89. The Sheep Creek property consists of approximately 5,775 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. The drilling undertaken by Cominco American Inc. and BHP had encountered significant zones of stratabound copper sulfide with cobalt in multiple bedded pyrite zones in the lower part of the Precambrian Belt Supergroup; this same stratigraphic unit hosts the Sullivan zinc-lead-silver deposit.

About TintinaGold

TintinaGold is a growth company focused on the exploration and development of precious and base metal properties around the world. The Company's experienced management team has assembled an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project, located in southwest Alaska approximately 100 miles northwest of the 40 million ounce Donlin Creek project, the Kugruk copper project located 70 miles north of Nome in the northern Seward Peninsula, Alaska, and the Sheep Creek copper-cobalt property in Montana. The Company, in a short period of time, has successfully established itself in several of the most prolific mineral belts in North America. 

ON BEHALF OF THE BOARD OF DIRECTORS

Raj Chowdhry, C.A., President & CEO 

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 TintinaGold'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 TintinaGold'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. TintinaGold 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.

To view Figure 1, Sheep Creek, Montana, please visit the following link: http://media3.marketwire.com/docs/tau_fig_1116_fig_1.pdf

To view Figure 2, Sheep Creek Drill Pattern, Montana, please visit the following link: http://media3.marketwire.com/docs/tau_fig_1116_fig_2.pdf

To view Figure 3, Cross section A – A, Sheep Creek, Montana, please visit the following link: http://media3.marketwire.com/docs/tau_fig_1116_fig_3.pdf

To view Figure 4, Cross section B – B, Sheep Creek, Montana, please visit the following link: http://media3.marketwire.com/docs/tau_fig_1116_fig_4.pdf

To view Figure 5, Cross section C – C, Sheep Creek, Montana, please visit the following link: http://media3.marketwire.com/docs/tau_fig_1116_fig_5.pdf

To view Figure 6, Cross section D – D, Sheep Creek, Montana, please visit the following link: http://media3.marketwire.com/docs/tau_fig_1116_fig_6.pdf

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.

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