Tonogold Resources, Inc: Drilling at Tonopah Divide Returns 30 Feet of 0.118 oz/ton Gold Equivalent
02 Septembre 2010 - 3:20PM
Tonogold Resources, Inc. (Pink Sheets:TNGL) has received results
from the first eight drill holes of the Summer 2010 reverse
circulation drill program at the Tonopah Divide Gold Project
located five miles south of the town of Tonopah, Nevada.
Centerra (U.S.), Inc., a subsidiary of Centerra
Gold Inc. (TSX:CG), is managing the exploration program of the
recently formed Mining Venture with Tonogold Resources, Inc.
The best holes of the 2010 drill program thus far,
TD-046 and TD-047, were drilled on the Combination target near the
historical Combination mining shaft, and adjacent to the North
Monte Cristo area.
The best intercepts from the first eight holes are
as follows, with all results in gold equivalent oz/ton (silver
divided by 75 plus gold) and a minimum intercept of 10 feet at
0.009 oz/ton gold equivalent (0.3 gram/tonne) except where
noted:
TD10-045: 10 feet of 0.035 oz/ton at a depth of
15-25 feet; 60 feet of 0.014 oz/ton at a depth of 410-470 feet.
TD10-046: 30 feet of 0.118 oz/ton at a depth
of 320-350 feet, within a broad interval (using a cutoff grade of
0.003 oz/ton or 0.1 gram/tonne) of 120 feet of 0.033 oz/ton at a
depth of 310-430 feet.
TD10-047: 50 feet of 0.019 oz/ton at a depth
of 210-260 feet; 80 feet of 0.047 oz/ton at a depth of 530-610 feet
including 35 feet of 0.086 oz/ton at a depth of 560-595 feet.
The program has been expanded from 20 holes to 25
holes for an estimated 23,000 feet of drilling.
Donald G. Strachan, Tonogold's Vice President of
Exploration, commented: "Centerra has encountered good gold
mineralization in several drill holes at Tonopah Divide, primarily
in the Combination and adjacent North Monte Cristo areas, including
TD10-046 and TD10-047, from 2008 to 2010, with scattered intercepts
elsewhere on this large property. The Combination-North Monte
Cristo mineralization remains open to the northwest and at
depth."
Tonogold Resources, Inc. is a minerals exploration company based
in La Jolla, California. For more information on the Company visit
their website www.tonogold.com.
Safe Harbor Statement Under the Private
Securities Litigation Reform Act of 1995
This press release contains certain forward-looking information
about Tonogold Resources, Inc. ("Tonogold") which is intended to be
covered by the safe harbor for "forward-looking statements"
provided by the Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements that are not
historical facts. Words such as "expect(s)," "feel(s),"
"believe(s)," "will," "may," "anticipate(s)," and similar
expressions are intended to identify forward-looking statements.
These statements include, but are not limited to, financial
projections and estimates and their underlying assumptions;
statements regarding plans, objectives and expectations with
respect to future operations, products and services; and statements
regarding future performance. Such statements are subject to
certain risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Tonogold Resources,
Inc., that could cause actual results to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties
include: our lack of operating revenue and earnings history,
our need for additional capital to pursue our business strategy,
some of our managers lack formal training in the mining business,
the grade and quantity of minerals in our projects may not be
economic, we do not have fee title to our properties, but derive
our rights through leases and the Mining Law, changes to the Mining
Law may increase the cost of doing business, we are a non-reporting
company and as such do not make periodic filings with the
Securities and Exchange Commission, we trade on the Pink Sheets and
there can be no assurances that a liquid market will develop in our
securities, mining is subject to extensive environmental
regulations and can create substantial environmental liabilities,
gold and silver are commodities which have substantial price
fluctuations, a drop in gold and/or silver prices could adversely
affect future profitability and/or capital raising efforts, and
mining can be dangerous and present operational hazards for
employees and contractors. Readers are cautioned not to place
undue reliance on these forward-looking statements. Tonogold
does not undertake any obligation to republish revised
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
CONTACT: Tonogold Resources, Inc.
Jeff Janda
jeff@tonogold.com
Jerry Samaras
858-456-1273
www.tonogold.com
Tonogold Resources (PK) (USOTC:TNGL)
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