TintinaGold Resources Inc.

TintinaGold Resources Inc.

October 20, 2010 09:16 ET

TintinaGold Resources Inc. Announces Additional High-Grade Drill Results From Its Sheep Creek Copper-Cobalt Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 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 1-5). 


In an Upper Copper Zone:

  • DDH SC10-002 encounters 2.48% Cu and 0.36% Co over 7.46 meters
  • DDH SC10-004 encounters 3.03% Cu and 0.15% Co over 10.51 meters

In a Lower Copper Zone:

  • DDH SC10-003 encounters 3.24% Cu and 0.05% Co over 1.67 meters

The Company has received additional assay results from three of its first four holes in its verification drilling program at its Sheep Creek property in central Montana, USA (see Table 1, below). Final assay results for a lower copper zone in DDH SC10-004 are pending, and SC10-005 is currently being drilled.

Table 1 – Significant Drill Intersections:

Hole From (m) To (m) Width (m) Width (ft) Cu % Co %
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 SC10-003 350.02 351.69 1.67 5.6 3.24 0.05
DDH SC10-004 107.90 118.41 10.51 34.5 3.03 0.15

*-previously reported

All four holes drilled to date have encountered a shallow copper- rich 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 5, below). In addition, deeper drilling in SC10-003 and SC10-004 has encountered a second zone of coarse grained densely disseminated chalcopyrite and pyrite in silicified and dolomite altered debris flow conglomerate and shale. Assay results for this zone encountered in hole SC10-004 are pending and additional drill holes are planned. Multiple mineralized zones remain open.

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. This resource is non-compliant with NI 43-101 standards and should not be 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, and to build additional resources from other copper mineralized target areas on the property.

Jerry Zieg, Vice President of Exploration, said "These new results help verify the significance of the Sheep Creek massive sulfide deposits as important copper-cobalt resources near good quality infrastructure." 

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 4,714 acres of fee - simple lands 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/Purcell 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 and 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. 

Website: www.tintinagold.com


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_1020_fig_1.pdf

To view Figure 2, Sheep Creek Drill Pattern, Montana, please visit the following link: http://media3.marketwire.com/docs/tau_1020_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_1020_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_1020_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_1020_fig_5.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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