TintinaGold Resources Inc.
TSX VENTURE : TAU

TintinaGold Resources Inc.

May 04, 2011 09:01 ET

TintinaGold Receives Additional Drill Assays Confirming Continuity at Its Sheep Creek Copper-Cobalt-Silver Project, Montana, USA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2011) - TintinaGold Resources Inc. ("TintinaGold" or the "Company") (TSX VENTURE:TAU) is pleased to announce that it has received additional preliminary assay results from the 2011 drill program on its Sheep Creek Copper-Cobalt-Silver property ("Sheep Creek") located in Central Montana, USA (see Figures 1 & 2).

Highlights from the Strawberry Butte mineralized target area:

  • Drill hole SC11-014 encountered a 16.83 meter thick intercept grading 2.1% Cu, 0.10% Co and 16.5 g/tonne Ag in the Upper Copper Zone #1
  • Drill hole SC11-016 encountered a 14.1 meter thick intercept grading 1.7% Cu, 0.10% Co, and 17.1 g/tonne Ag in the Upper Copper Zone #1
  • Drill hole SC11-017 encountered a 12.76 meter thick intercept grading 1.8% Cu, 0.08% Co, and 16.9 g/tonne Ag in Upper Copper Zone #2, and a 4.91 meter thick intercept grading 3.6% Cu, 0.07% Co and 9.4 g/tonne Ag in the Upper Copper Zone #1.
  • Drill hole SC11-018 encountered a 4.31 meter thick intercept grading 2.4% Cu, 0.15% Co, and 11.4 g/tonne Ag in Upper Copper Zone #2, and a 4.0 meter thick intercept grading 3.0% Cu, 0.12 % Co, and 13.1 g/tonne Ag in Upper Copper Zone #1.
  • Drillhole SC11-021 has encountered a 3.19 meter thick intercept grading 1.7% Cu, 0.10% Co, and 14.9 g/tonne Ag in Upper Copper Zone #2, and a 3.38 meter intercept grading 2.7% Cu, 0.03% Co, and 14.5 g/tonne Ag in Upper Copper Zone #1.

The Company has received results from drill holes SC11-014, SC11-016, SC11-017, SC11-018 and and SC11-021. (see Table 1 below). These holes were part of an in-fill drill campaign designed to bring the Inferred Resource on the Upper Copper Zone at Strawberry Butte to Measured & Indicated status. The Upper Copper Zone contains at least two stratabound subzones of copper-cobalt-silver mineralization designated Upper Copper Zone #1 and above it, Upper Copper Zone #2. These results continue to confirm the continuity of mineralization in the Upper Copper Zone as well as expand total resources with the 2011 drilling in the Lower Copper Zone at Strawberry Butte.

Table 1 – Significant Strawberry Butte Drill Intersections:

HoleFrom
(m)
To
(m)
Width
(m)
Width
(ft)
Cu
%
Co
%
Ag
g/t
Upper Copper Zone # 1
DDH SC11-01457.8574.6816.8355.222.10.1016.5
DDH SC11-01668.9983.0914.1046.261.70.1017.1
DDH SC11-01778.7483.654.9116.113.60.079.4
DDH SC11-01890.1894.184.0013.123.00.1213.1
DDH SC11-021150.85154.233.3811.092.70.0314.5
Upper Copper Zone # 2
DDH SC11-01756.4269.1812.7641.861.80.0816.9
DDH SC11-01872.4576.764.3114.142.40.1511.4
DDH SC11-021136.41139.603.1910.471.70.1014.9
(For previous TintinaGold and historic results on the Upper Copper Zone at Strawberry Butte please see News Releases dated January 6, February 3, and April 26, 2011)

TintinaGold continues to in-fill drill the Upper Copper Zone at Strawberry Butte with the objective of bringing the Inferred Resource to Measured & Indicated status. In addition, the Company has initiated resource definition drilling on two additional mineralized areas – the Lower Copper Zone at Strawberry Butte and the Strawberry East mineralized area with the objective of expanding the total resources for the Sheep Creek property. The Company has also initiated a Preliminary Economic Assessment to determine project economics and has started collecting environmental baseline information in preparation for an environmental assessment report and project permitting.

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 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 Board of Directors and Management Team, having completed the verification drilling on the Sheep Creek copper-cobalt massive sulfide property in Montana, U.S.A., are focused on additional exploration drilling and advancing the project towards production. The Company is also exploring an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project located in southwest Alaska in the same region as the 40 million ounce Donlin Creek project.

The growth and success of the Company comes from TintinaGold's experienced exploration team and its ability to forge collaborative relationships and partnerships with Native Alaskan and First Nations groups, local communities, major mining companies and regulators.

About Sheep Creek

The Sheep Creek deposit is located about 27 km north of White Sulphur Springs along a well 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. Historical drilling encountered significant zones of strata-bound 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 in southeastern B.C. The Company, in a remarkably short period of time, has been able to produce an Inferred Resource on the Upper Copper Zone at Strawberry Butte (please see the Company's News Release dated January 6, 2011). A minimum of four additional known tabular mineralized zones, within a four kilometer strike length, will be drill-tested over the course of 2011.

ON BEHALF OF THE BOARD OF DIRECTORS

Louis A. Lepry, Jr., President & CEO

The Company will be attending the Hard Assets Investment Conference in New York on May 9-10, 2011. Please come by booth #702 for more information.

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 Image 1 "Sheep Creek Project, Montana USA" and Image 2 "Plan Map of Sheep Creek Strawberry Butte Mineralized Target Montana, USA", please visit the following link:

http://media3.marketwire.com/docs/tau_fgs12_504.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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