Tuffnell Ltd.
OTCBB : TUFF

April 19, 2012 15:50 ET

Tuffnell Ltd. Completes Phase 3 Drilling at Its Little Butte Gold Project in Arizona

LAS VEGAS, NEVADA--(Marketwire - April 19, 2012) - Tuffnell Ltd. (OTCCB:TUFF), today announced successful results from its phase 3 drilling program completed late last year which consisted of 16 east-west angle holes across a north-south trending geophysical target. The drilling program consisted of 5,395 feet of reverse circulation (RC) angled drilling and one deeper vertical hole to test an interpreted intrusive associated with the anomaly.

The highlights of the drilling include:

  • Gold mineralization discovered 800 feet north of the known veins under gravel cover. LB-1110 contains 55 feet averaging 0.050 oz/ton (1.73 g/t) gold including 20 feet averaging 0.088 oz/ton (3.06 g/t) gold.

  • Ore grade gold was extended west from the discovery hole in LB-1106. This hole intersected a combined 160 feet of +0.01 oz/ton gold mineralization. This includes 40 feet averaging 0.01 oz/ton (0.34 g/t) gold and 120 feet averaging 0.033 oz/ton (1.13 g/t) gold.

"We are very pleased with current results," said Bob Coale, Tuffnell President. "Several of the drill holes returned high-grade intercepts including: 0.377 oz/ton gold over 10 feet, 0.121 oz/ton gold over 15 feet, 0.088 oz/ton gold over 20 feet, and 0.068 oz/ton gold over 100ft."

A summary of drilling results for the 16 holes drilled is listed below.

LITTLE BUTTE 2011 RC DRILLING SUMMARY RESULTS

Hole ID From
(feet)
To
(feet)
Width
(feet)
Au
(grams/ton)
Au
(oz/ton)
LB-1101A 210 215 5 0.39 0.011
LB-1101 130 230 100 2.35 0.068
including 140 150 10 12.93 0.377
also including 185 190 5 8.22 0.240
LB-1102 40 45 5 1.44 0.042
LB-1103 45 50 5 0.48 0.014
LB-1104 120 125 5 0.51 0.015
LB-1105 90 95 5 0.48 0.014
130 135 5 0.54 0.016
200 205 5 0.54 0.016
LB-1106 15 35 20 0.05 <0.01
80 120 40 0.34 0.010
including 80 90 10 0.34 0.010
125 245 120 1.13 0.033
including 195 210 15 4.16 0.121
including 195 200 5 5.66 0.165
including 205 210 5 6.36 0.186
LB-1107 50 205 155 0.15 <0.01
including 165 170 5 0.02 <0.01
including 185 190 5 0.79 0.023
LB-1108 255 270 15 0.42 0.010
LB-1109 55 70 15 0.39 0.012
255 270 15 0.59 0.016
LB-1110 210 265 55 1.73 0.050
Including 230 250 20 3.06 0.088
LB-1111 40 45 5 0.69 0.020
150 165 15 0.13 <0.01
185 200 15 0.83 0.024
285 295 10 0.47 0.014
LB-1112 135 155 20 <0.01 <0.01
250 255 5 0.08 <0.01
LB-1113A 65 70 5 0.03 <0.01
85 95 10 0.03 <0.01
190 200 10 0.16 <0.01
230 255 25 0.05 <0.01
LB-1114 290 300 10 0.67 0.019
LB-1115 No Significant Values

Tuffnell's district-wide study of the Little Butte project area is now being finalized as the company evaluates additional potential drilling targets. The company has obtained sample pulps from historic drilling of nearly 50 holes scattered throughout the project and has conducted a 34-element analysis of these pulps. Previously only analyzed for gold, the copper content as well as other element analyses will be used to evaluate elemental zonation and to determine shallow targets similar to those currently being tested. The company is currently evaluating the specifics of a program to complete another phase of drilling, in order to more fully establish the size and value of its discovery.

Safe Harbour Statement: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. The forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at http://www.sec.gov.

About the Company

Tuffnell is a US-based resource exploration company exploring for gold in proven mining districts in the State of Arizona. It is focused on discovering and developing low-cost gold assets in order to provide maximum returns for its shareholders.

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at http://www.sec.gov.

Contact Information

  • Tuffnell Ltd.
    Investor Relations
    1-855-883-3635