Tigray Intersects 28.2 Metres at 8.50 Grams per Tonne Gold at Mato Bula, Adyabo Project, Northern Ethiopia
April 07 2014 - 5:00AM
Marketwired
Tigray Intersects 28.2 Metres at 8.50 Grams per Tonne Gold at Mato
Bula, Adyabo Project, Northern Ethiopia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 7, 2014) -
Tigray Resources Inc. (TSX-VENTURE:TIG) ("Tigray" or the "Company")
is pleased to announce diamond drill results from Phase 2 drilling
at the Mato Bula discovery at Adyabo (refer to Tigray's news
release dated July 16, 2013 for Phase 1 drill results). Six
additional holes (WMD007 to 012) have been completed, totalling
1,117 metres. Drilling on 80 metre sections targeted extensions to
mineralization defined during the Phase 1 diamond drilling campaign
(WMD002 to 006). This drilling has extended Upper Lode
mineralization to depth over 150 vertical metres below surface, and
to 80 metres extensions at both the northern and southern extents
of existing drill intersections. Eleven diamond drill holes have
now tested the system over a 640 metres strike.
Highlights include;
- Section 19880N - WMD007 drilled 100 vertical metres down dip of
mineralization intersected in WMD006 (12.28 metres grading 12.25
grams per tonne gold and 0.30% copper - refer to Tigray's news
release dated July 16, 2013 ) at Silica Hill, and intersected
28.20 metres at 8.50 grams per tonne gold and 0.24 percent copper
including 17.55 metres at 13.18 grams per tonne gold and 0.27
percent copper, from 179.75 metres drill depth.
- Section 19960N - WMD009 drilled 80 metres grid north of WMD006
and 007, and intersected 14.87 metres at 4.49 grams per tonne gold
and 0.04 percent copper including 7.90 metres at 7.95 grams per
tonne gold and 0.05 percent copper, from 164.20 metres drill
depth.
- Section 19400N - WMD012 drilled the depth extension to previous
mineralization at Mato Bula South (WMD004), and intersected 12.98
metres at 4.40 grams per tonne gold and 0.87 percent copper from
105.62 metres drill depth.
- Section 19320N - WMD011 drilled 80 metres south of previous
drilling at Mato Bula South (WMD004), and intersected 13.98 metres
at 2.28 grams per tonne gold and 0.74 percent copper including 5.43
metres at 4.88 grams per tonne gold and 0.82 percent copper, from
126.25 metres drill depth.
At Silica Hill, Upper Lode mineralization and alteration is now
defined to 150 metres vertical depth below surface, remains open at
depth, and has been defined on two sections 80 metres apart. The
tenor (gram-metres) of Upper Lode mineralization and intensity and
volume of alteration increases to depth on both sections. Step out
drilling, initially along strike to both the north and south at
Silica Hill, is required to test the near surface potential of this
discovery.
At Mato Bula South, Phase 2 drilling has extended the Upper Lode
mineralization at depth and 80 metres south of previous drilling.
The tenor (gram-metres) of Upper Lode mineralization increases at
depth on section 19400N.
Both Silica Hill and Mato Bula South are part of the Mato Bula
Trend, a mineralized corridor now defined over 8 kilometres in
strike length. Gold-copper mineralization is interpreted to be part
of a porphyry style Cu-Au system containing porphyry-style
mineralization, high-grade Au-Cu quartz veins and possible
replacement styles of mineralization.
Other significant targets previously identified along strike
include:
- Mato Bula North approximately 1 kilometre northeast of Mato
Bula where a one hole test into the interpreted carapace of a
porphyry intrusion intersected 17.35 metres grading 1.65% copper
and 0.40 grams per tonne gold from 53.80 metres drill depth (WMD001
- hole abandoned before full test of drill target) (refer to
Tigray's news release dated July 16, 2013); and
- Da Tambuk approximately 4 kilometres northeast of Mato Bula
where a four hole test yielded best results of 12.00 metres at
17.34 grams per tonne gold and 0.32 percent copper from 52.75
metres drill depth (refer to Tigray's news release dated March
11, 2014.
Andrew Lee Smith, President and CEO of Tigray stated, "Our
continued success in identifying new discoveries and robust drill
intersections is a testament to the potential for significant
discovery that this region of Ethiopia possesses."
Mato Bula Phase 2
Diamond Drill Intercepts
Hole ID |
|
From (m) |
To (m) |
Interval (m)1 |
Gold grams/ tonne 2,3 |
Copper % |
Zone |
Local Azimuth |
Dip |
WMD007 |
|
179.75 |
207.95 |
28.20 |
8.50 |
0.24 |
Upper/ Main |
274 |
-46 |
including |
189.25 |
206.80 |
17.55 |
13.18 |
0.27 |
and including |
195.80 |
206.80 |
11.00 |
19.55 |
0.35 |
WMD008 |
|
77.20 |
105.00 |
27.80 |
1.81 |
0.07 |
Upper/ Main |
279 |
-50 |
including |
94.60 |
98.60 |
4.00 |
5.75 |
0.04 |
WMD009 |
|
164.20 |
179.07 |
14.87 |
4.49 |
0.04 |
Upper/ Main |
273 |
-48 |
including |
166.40 |
174.30 |
7.90 |
7.95 |
0.05 |
WMD010 |
No Significant Intervals |
|
272 |
-46 |
WMD011 |
|
97.40 |
101.45 |
4.05 |
1.24 |
0.51 |
Main |
274 |
-45 |
|
126.25 |
140.23 |
13.98 |
2.28 |
0.74 |
Upper |
including |
131.45 |
136.88 |
5.43 |
4.88 |
0.82 |
WMD012 |
|
105.62 |
118.60 |
12.98 |
4.40 |
0.87 |
Upper |
272 |
-45 |
including |
105.62 |
108.72 |
3.10 |
17.08 |
3.05 |
|
141.40 |
142.40 |
1.00 |
14.60 |
0.08 |
|
1 True thicknesses are interpreted as
65-90% of stated intervals. |
2 Intervals use a 0.3 g/t cutoff
value. |
3 No top cut has been used on assay
values. |
Click here to view a Map of the Mato Bula Drill Hole
Locations
Quality Control
The planning, execution and monitoring of Tigray's quality
control programs at the Harvest project are under the supervision
of Jeff Heidema, P.Geo., Tigray's Vice President Exploration. Mr.
Heidema is a Qualified Person as defined by National Instrument
43-101. Diamond drill core samples and trench samples have
undergone preliminary preparation at the Acme Laboratories facility
in Ankara, Turkey, and are crushed to 80% passing 10 mesh, and
pulverized to 85% passing 200 mesh (PRP70-1KG package). Analyses
are conducted at Acme Laboratories in Vancouver, Canada, utilizing
Aqua Regia digestion and ICP-ES for base metal and silver analyses.
Gold analyses are conducted via Fire Assay Fusion with AA finish,
and gravimetric analyses are completed for over-limit samples.
Blanks and certified reference standards are inserted into the
sample stream to monitor laboratory performance. For core,
duplicate samples are inserted into the sample stream to both
monitor laboratory performance and also characterize potential
mineralization.
Qualified Person
Mr. Heidema has reviewed and approved the scientific and
technical information contained in this news release.
About Tigray
Tigray is a Canadian mineral exploration company focused on
discovery through advancing early-stage mineral projects in
Ethiopia. Tigray's key property is the 70%-owned Harvest
polymetallic VMS exploration project, which covers 155 square
kilometres in the Tigray region of Ethiopia, 600 kilometres
north‐northwest of the capital city of Addis Ababa. The company has
an option to earn an 80% interest in the Adyabo property covering
418 square kilometres immediately west of the Harvest project.
Tigray's shares trade on the TSX Venture Exchange under the symbol
TIG.
Tigray and East Africa Metals Inc. ("East Africa")
(TSX-VENTURE:EAM) have jointly announced that they have entered
into a definitive agreement pursuant to which East Africa has
agreed to acquire all of the issued and outstanding common shares
of Tigray (other than the Tigray shares East Africa currently
owns). The transaction will be implemented by way of a statutory
Plan of Arrangement under the Canada Business
Corporations Act (refer to Tigray's news release dated February 24,
2014).
More information on Tigray Resources Inc. can be viewed at the
company's website at www.tigray.ca.
On behalf of the Board of Directors:
Andrew Lee Smith, P.Geo.
President, CEO and Director
Cautionary Statement Regarding Forward-Looking
Information
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "anticipate", "believe",
"plan", "expect", "intend", "estimate", "forecast", "project",
"budget", "schedule", "may", "will", "could", "might", "should" or
variations of such words or similar words or expressions.
Forward-looking information is based on reasonable assumptions that
have been made by the Company as at the date of such information
and is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: risks associated with
mineral exploration and development; metal and mineral prices;
availability of capital; accuracy of the Company's projections and
estimates, including the initial mineral resource for the Harvest
Project; interest and exchange rates; competition; stock price
fluctuations; availability of drilling equipment and access; actual
results of current exploration activities; government regulation;
political or economic developments; environmental risks; insurance
risks; capital expenditures; operating or technical difficulties in
connection with development activities; personnel relations; the
speculative nature of strategic metal exploration and development
including the risks of diminishing quantities of grades of
reserves; contests over title to properties; and changes in project
parameters as plans continue to be refined, as well as those risk
factors set out in the Company's listing application dated August
18, 2011.
Forward-looking statements are based on assumptions
management believes to be reasonable, including but not limited to
the price of gold, silver, copper and zinc; the demand for gold,
silver, copper and zinc; the ability to carry on exploration and
development activities; the timely receipt of any required
approvals; the ability to obtain qualified personnel, equipment and
services in a timely and cost-efficient manner; the ability to
operate in a safe, efficient and effective manner; and the
regulatory framework regarding environmental matters, and such
other assumptions and factors as set out herein. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information that
is included herein, except in accordance with applicable securities
laws.
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 news release.
Nick Watters, Business
Development604-488-9582investors@tigray.cawww.tigray.ca
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