Tosca Drills 365 Metres (1199 Ft) of 0.084% Mo Including 177 Metres (580 Ft) of 0.101% Mo & 64 Metres (210 Ft) of 0.80% Cu & ...
October 27 2011 - 8:00AM
Business Wire
Tosca Mining Corporation (TSQ.V; US: TSMNF; FSE:TQ4) announces
it has received assay results for two additional holes (TMC-17 and
TMC-18) from its 4,873 metre (16,000 ft.) two phase diamond drill
program carried out at the Red Hills Molybdenum-Copper project,
located in Presidio County, Texas. The balance of the assays for
the remaining 13 holes will be announced when received.
The results of holes TMC -17 and 18 are summarized below and
their locations shown in the drill plan located at
http://www.toscamining.com/i/maps/drillplan.jpg.
Hole Length From To
Interval(ft) Interval (metres)
Cu% Mo%
TMC -17 1249
0 1249 1249
380 0.036
includes 0 869 869
265 0.030
includes 869 1249
380 116 0.049
TMC -18 1199 0
1199 1199 365
0.084 includes 409
989 580 177
0.101 includes
99 309 210 64
0.80 0.067
Drill hole TMC-17 was collared at the south end of the
mineralized system within the barren core at the center of the
deposit. It was drilled on a bearing of 90° at - 75° inclination to
test the boundaries of the barren core. As expected, the grades
diminish closer to the center. However, as TMC-17 has intercepted
Mo values throughout its length, this indicates that the size of
the barren core is smaller than previously thought, thereby
increasing the total amount of Mo in the system.
Drill hole TMC-18 was set at a previously untested location at
the north end of the deposit. This vertical hole targeted the
shallow copper cap and the underlying molybdenum zone. TMC-18 is
the best hole drilled to date at Red Hills in terms of its
molybdenum grades and thicknesses. TMC-18 also penetrated a thick
zone of shallow copper-molybdenum mineralization averaging 0.80% Cu
and 0.067% Mo over 64 metres.
The results of Tosca’s drilling to date generally validate
historic holes previously drilled to define the copper-molybdenum
cap. In addition, Tosca’s holes drilled to date to test the
underlying molybdenum system show strong continuity and good
molybdenum grades over wide intervals.
The Company is in the process of completing flotation tests on a
number of composites at the Metcon laboratory in Tucson, Arizona.
The tests are being conducted under the supervision of
M3-Engineering. Complete metallurgical results are expected by year
end.
This information and new resource estimates to be finalized by
Mine Development Associates of Reno Nevada, will form the basis for
the preparation of a Pre-Economic Assessment (PEA) on the
copper-molybdenum cap.
Luca Riccio, PhD, P.Geo, a qualified person as defined by NI
43-101 is responsible for the technical information contained in
this release.
On Behalf of the board of directors,
"Ron Shenton"
Neither 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.
Statements in this press release, other than purely historical
information, including statements relating to the Company’s future
plans and objectives or expected results, may include
forward-looking statements. Forward-looking statements are based on
numerous assumptions and are subject to all of the risks and
uncertainties inherent in resource exploration and development. As
a result, actual results may vary materially from those described
in the forward-looking statements.
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