Tornado Gold International Corp. Acquires 10 Additional Prospective Properties in North Central Nevada Bringing Total Acreage to
15 Novembre 2005 - 3:30PM
Business Wire
Tornado Gold International Corp. (OTCBB:TOGI) (The Company)
announces today the acquisition of an additional 10 highly
prospective gold properties in North Central Nevada. Dr. Earl W.
Abbott reports: Tornado Gold is pleased to announce that it has
leased 10 highly prospective claim blocks all of which are located
in the highly prolific North Central Nevada area. This property
package combined with Tornado's existing properties creates a total
of 15 properties comprised of about 44,840 acres all located in the
North Central Nevada area. Management believes that this
acquisition provides the company with a significant and prominent
package of claims in the world's premier gold producing region.
"This acquisition completes phase two of our strategic plan,"
stated Tornado president Earl Abbott. "Firstly, we put together our
team, including myself, Carl Pescio, and Stan Keith, creating one
of the most capable and experienced exploration groups in Nevada.
Secondly, we wanted to acquire a significant property asset base in
North Central Nevada, in our view, the very best place on earth to
discover gold. With this acquisition we believe we have just
accomplished that goal. The North Central Nevada area, roughly 300
km. by 300 km. is home to numerous producing gold mines, including
Barrick's Goldstrike Mine on the Carlin Trend, Newmont's Twin
Creek's Mine on the Getchell Trend, and Placer Dome's Pipeline Mine
on the Eureka-Battle Mountain (Cortez) Trend. In our opinion, it is
arguably the world's most prolific gold producing area when
measured by gold production per acre. In our estimation, our
portfolio of about 44,840 acres makes Tornado Gold one of the
largest junior exploration companies in the region. Our next two
phases of development will be to advance the properties by
identifying and prioritizing the very best drill targets and then
drill those targets." The Properties: Brock Property A total of 222
lode claims (about 4,440 acres) in Eureka County, Nevada comprise
the Brock Property. It is located in the Monitor Range, about 36
miles southwest of Eureka, Nevada. It is also about 24 miles
northeast of the Northumberland Mine where Newmont Mining Company
is developing a gold resource to augment the more than 200,000
ounces of gold already produced there by previous operators. The
geologic setting at Brock is similar to Northumberland with
alteration and mineralization occurring in the Lower Plate/Eastern
"carbonate" assemblage of the Roberts Mountains Thrust Fault. At
Brock alteration/mineralization in the form of jasperoid is
widespread throughout the carbonate assemblage. Dry Hills Property
A total of 96 lode claims (about 1,920 acres) in Eureka County,
Nevada comprise the Dry Hills Property. It is located in the Dry
Hills, about 20 miles southwest of Carlin, Nevada. The property is
underlain by Jurassic volcanic rocks and volcanic sediments are cut
by mineralized northeast-trending fracture zones. Golconda Property
A total of 108 lode claims (about 2,160 acres) in Humboldt County,
Nevada comprise the Golconda Property. It is located in Rock Creek
Valley, about 12 miles east of Winnemucca, Nevada and near the
intersection of the Getchell Trend (more than 30 million ounces of
gold) and the north end of the Battle Mountain-Eureka (also known
as the Cortez) Trend (more than 20 million ounces of gold in this
area). Total gold resources are taken from a variety of operating
company publications. Mineralized Paleozoic formations and
mineralized fault structures are projected into the Golconda
Property, but are covered by younger alluvium and basalt. Horseshoe
Basin Property A total of 50 lode claims (about 1,000 acres) in
Lander County, Nevada comprise the Horseshoe Basin Property. It is
located in the Fish Creek Mountains about 30 miles south of Battle
Mountain, Nevada and about 4 miles south of the McCoy and Cove
deposits with combined resources of 4.5 million ounces of gold and
165 million ounces of silver. Triassic sedimentary rocks are
intruded by both Jurassic and Tertiary igneous intrusive rocks,
producing precious metal-bearing skarn. At Horseshoe Basin, an
erosional window exposes various intrusive rocks that contain
alteration and mineralization with quartz veins containing values
to as high as 0.35 ounce per ton gold. Marr Property A total of 93
lode claims (about 1,840 acres) in Lander County, Nevada comprise
the Marr Property. It is located between the Fish Creek Mountains
and the Ravenswood Mountains about 50 miles southwest of Battle
Mountain, Nevada. The property is along the Western Nevada Rift,
host to the Sleeper deposit that has a recorded production of 1.68
million ounces of gold at less than $100 per ounce production cost.
At Marr, northeast-trending fractures control a 2 mile long and
3,000 feet wide system of mineralization and alteration in the form
of silicification and brecciation with surface grab samples
reported as high 0.10 ounce per ton gold. Limited drilling by a
previous operator encountered gold mineralization to 0.03 ounce per
ton. North Battle Mountain Property A total of 73 lode claims
(about 1,460 acres) in Lander County, Nevada comprise the North
Battle Mountain Property. It is located in the Sheep Creek Range,
about 4 miles northeast of Battle Mountain, Nevada, along the
northern extension of the Battle Mountain-Eureka (Cortez) Trend.
Paleozoic rocks of the upper plate of the Roberts Mountains Thrust
Fault exposed in erosional windows through shallow alluvium, are
mineralized on the property in a similar fashion as at White Knight
Resources' Slaven Canyon property (approx. 100,000 ounces of gold
resource) about 20 miles to the southeast. South Lone Mountain
Property A total of 140 lode claims (about 2,800 acres) in Eureka
County, Nevada comprise the South Lone Mountain Property. It is
located on the west flank of the Mountain Boy Range in Antelope
Valley about 15 miles southwest of Eureka, Nevada. The property is
covered by alluvium that obscures Paleozoic sedimentary rocks. A
Jurassic igneous intrusive body is exposed in the nearby hills to
the east. Faults that are an extension of the Cortez Fault traverse
the property. Stargo Property A total of 257 lode claims (about
5,140 acres) in Nye County, Nevada comprise the Stargo Property. It
is located in the Monitor Range about 45 miles southwest of Eureka,
Nevada and about 20 miles west of the Northumberland Mine. The
geologic setting at Stargo is similar to Northumberland with
alteration and mineralization occurring in the Lower Plate/Eastern
"carbonate" assemblage of the Roberts Mountains Thrust Fault and
near altered intrusive igneous bodies. At Stargo alteration and
mineralization in the form of jasperoid is widespread throughout
the carbonate assemblage, near altered igneous intrusive bodies,
and along faults. Walti Property A total of 402 lode claims (about
8,040 acres) in Eureka and Lander Counties, Nevada comprise the
Walti Property. It is located in Grass Valley about 62 miles south
of Carlin, Nevada. An intersection of important fault structures is
covered by alluvium on the Walti Property. Regional published
geophysics suggests the presence of an intrusive igneous rock body
coincident with the intersection. Paleozoic rocks that host gold
deposits about 12 miles north are believed to exist beneath the
alluvium. West Whistler Property A total of 103 lode claims (about
2,060 acres) in Eureka County, Nevada comprise the West Whistler
Property. It is located on the west flank of Whistler Mountain
about 10 miles northwest of Eureka, Nevada. Alteration and
mineralization in the form of jasperoid is developed in rocks of
the Overlap assemblage of the Roberts Mountains Thrust Fault on the
flanks of an intrusive igneous body. Please visit the company
website at www.tornadogold.com to view related property maps. The
properties were acquired through lease by the Company from Pescio
Exploration in a related party transaction. Mr. Pescio is a
Director of Tornado Gold, and this transaction was approved by
Tornado's Board of Directors. Please refer to the latest 8K filing
for complete details of this transaction. Pescio Exploration is
owned by Carl Pescio, a fourth generation Nevadan, who has been in
the Nevada gold exploration and mining business for 32 years, both
as a mining company executive and as a private prospector. Carl
Pescio in the last 14 years has been acquiring properties and
leasing them to a host of major and junior mining companies,
becoming what is believed to be the largest private party claim
owner in Nevada, surpassed only by Nevada's major mining companies.
About Tornado Gold International Corp. Tornado Gold focuses on the
discovery of giant gold deposits (greater than 7M ounces). To that
end we have chosen Nevada - one of the most prospective places on
earth to find and exploit giant gold deposits. Our exceptional team
of proven explorers utilizes unique, cutting-edge technology which
we believe helps us to quickly and precisely target the areas on
the earth where these giant deposits may lie undiscovered. Tornado
Gold is headed by an experienced management team with decades of
collective experience contributing to discoveries of significant
ore-bodies. Forward-Looking Statements: This document contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. All forward-looking statements are inherently
uncertain as they are based on current expectations and assumptions
concerning future events or future performance of the Company.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which are only predictions and speak
only as of the date hereof. In evaluating such statements,
prospective investors should review carefully various risks and
uncertainties identified in this release and matters set forth in
the Company's SEC filings. These risks and uncertainties could
cause the Company's actual results to differ materially from those
indicated in the forward-looking statements. Tornado Gold
International Corp. (OTC Bulletin Board:TOGI)
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