With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
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Tournigan Cuts 4.5 Metres of 0.977 Percent eU3O8 at Kuriskova
Jan 22, 10 11:28AM
Vancouver, January 14, 2010 -- Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) today announced the results of eight drill holes from its ongoing infill and step out drilling program at the Kuriskova uranium deposit in Slovakia. The most significant intercept, Hole LE-K-39, drilled in the northern portion of the Main Zone, returned 4.5 metres of 0.977 percent eU3O8.
"Our infill and step out drilling continues to return significantly high grades of uranium oxide," said Tournigan President and CEO, Dorian L. (Dusty) Nicol. "The infill holes continue to demonstrate the continuity of high grade uranium mineralization in the northern part of the deposit. We also now have a better understanding of the hanging wall mineralization in the central part of the deposit with the possibility of upgrading this mineralization to the indicated category."
Uranium grades presented in this news release are reported as equivalent uranium oxide (eU3O8 %) based on downhole radiometric logging. Highlights of the recent drilling results from five of the eight holes include:
The recently completed eight holes announced today are in addition to six infill holes and one step out hole previously disclosed November 9, 2009; and two holes, LE-K-29 and LE-K-32 announced November 23, 2009, that appear to represent a new zone of mineralization adjacent to, but at shallower depth, than the Kuriskova Main Zone. Two holes were abandoned at shallow depths due to technical difficulties. The 17 holes (excluding two abandoned holes) announced to date total 5,298 metres of a planned 15,000 metre program. The drilling will provide additional data for a prefeasibility study expected to be completed later this year.
Results so far lead to the expectation that the drilling will upgrade the resource in the northern as well as central (hanging wall) part of the deposit by moving more pounds of uranium into the indicated resource category at higher grade than the current inferred resource.
The uranium grades presented above are reported as equivalent uranium oxide (eU3O8%) as determined by downhole radiometric logging. The logging was performed by Koral, s.r.o. of Slovakia. Quality control and quality assurance is provided by Ravi Sharma, Tournigan's Manager, Resources and Reserves. Drill core samples are being submitted to ALS Chemex in Seville, Spain for chemical assay; assay results are expected in early 2010. Drill intercept thicknesses are reported as drilled; true thicknesses have not yet been calculated.
Ravi Sharma, MAusIMM, Tournigan's Manager, Resources and Reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release.