Timberline Continues to Obtain Favorable Drill and Metallurgical Results at Lookout Mountain
20 1월 2011 - 10:45PM
Marketwired
Timberline Resources Corporation (TSX VENTURE: TBR)(NYSE Amex: TLR)
("Timberline" or the "Company") is pleased to report that the most
recent results of the Company's drilling and metallurgical testing
at Lookout Mountain continue to demonstrate significant mineralized
intervals and excellent leach characteristics for the recovery of
gold.
Hole number BHSE-037C returned a broad zone of gold
mineralization that graded 0.032 opt (1.10 g/t) of gold over 167
feet (50.9 metres). Within that zone, the oxidized interval was 82
feet (25 metres) with a gold grade of 0.045 opt (1.54 g/t) and 85%
gold recovery.
Seven surface core holes were drilled within the resource area
to test gold recoveries. All material from the seven holes was
submitted to Kappes,Cassiday & Associates (KCA) in Reno for
qualitative metallurgical lab testing. As a precursor to full-scale
column testing, the samples were analyzed using a NaCN shake test.
The gold recovery from oxidized mineralization was excellent,
ranging from 85.0% to 97.2%. These results serve as a preliminary
indicator to the potential gold recovery, and the samples will be
further tested by the column leach tests.
The Company also collected four bulk channel samples within the
historic Lookout Mountain Pit for metallurgical testing. After a
column leach time at KCA of only 14 days, the oxide samples have
returned promising gold recoveries from 63% to 84%. Sulfide samples
returned gold recoveries of approximately 43%. The column tests
will run for approximately 30-60 days during which gold recoveries
should continue to improve. The recoveries for the sulfide material
are encouraging, and they represent only a small portion of the
total resource which would be processed separately from the oxide
material. While metallurgical testing in on-going, the oxide
samples continue to demonstrate excellent gold recoveries,
indicating lower processing costs and favorable economics for
future production.
Paul Dircksen, Timberline's Executive Chairman and
Vice-President of Exploration stated, "We continue to see very
positive results from the drilling at Lookout Mountain. The
excellent gold recoveries without the need for crushing are a very
positive indicator for this type of sediment-hosted,
widely-disseminated gold mineralization. It should be noted that
the average gold recovery for heap leach gold operations in Nevada
is 70%, so our preliminary results are very promising. Our drilling
is nearly complete, and we expect to produce a 43-101 technical
report with a compliant resource estimate in early March."
Significant drill results and gold recoveries include:
----------------------------------------------------------------------------
From To Length
Feet (ft) Feet (ft) Feet (ft) Gold Gold
Hole ID Metres (m) Metres (m) Metres (m) Grade(i) Recovery Comments
----------------------------------------------------------------------------
BHSE-026C 417 ft 471 ft 54 ft 0.033 opt
127.1 m 143.6 m 16.5 m 1.13 g/t 96.9% Oxide
----------------------------------------------------------------------------
BHSE-028C 277 ft 358 ft 81 ft 0.017 opt In
84.4 m 109.1 m 24.7 m 0.58 g/t Process Oxide
----------------------------------------------------------------------------
BHSE-029C 612 ft 646 ft 34 ft 0.024 opt Oxide /
186.5 m 196.9 m 10.4 m 0.82 g/t 58.5% Sulfide
----------------------------------------------------------------------------
BHSE-031C 52 ft 73 ft 21 ft 0.030 opt
15.9 m 22.3 m 6.4 m 1.03 g/t 89.0% Oxide
----------------------------------------------------------------------------
BHSE-031C 125 ft 235 ft 110 ft 0.015 opt
38.1 m 71.6 m 33.5 m 0.52 g/t 90.3% Oxide
----------------------------------------------------------------------------
BHSE-036C 27 ft 84 ft 38 ft 0.032 opt
8.2 m 25.6 m 11.6 m 1.10 g/t 94.7% Oxide
----------------------------------------------------------------------------
BHSE-036C 181 ft 192 ft 11 ft 0.048 opt
55.2 m 58.5 m 3.4 m 1.64 g/t 97.2% Oxide
----------------------------------------------------------------------------
BHSE-037C 362 ft 444 ft 82 ft 0.045 opt
110.3 m 135.3 m 25.0 m 1.54 g/t 85.0% Oxide
----------------------------------------------------------------------------
BHSE-043C 206 ft 228 ft 22 ft 0.019 opt
62.8 m 69.5 m 6.7 m 0.65 g/t 93.5% Oxide
----------------------------------------------------------------------------
(i) Troy ounces per ton (opt) and grams per tonne (g/t)
Paul Dircksen is a Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the technical
contents of this release. He has verified the drill results and
other data disclosed in this news release, including sampling,
analytical and test data. Field work has been conducted under his
supervision. The Timberline sampling and analysis program included
an industry standard QA/QC program. After logging and cutting or
dividing the sample intervals in half, the samples were picked up
by Inspectorate America Corporation and taken to their lab in
Sparks, Nevada for analysis. The samples were analyzed for gold
using a standard 30g fire assay with an AA finish. Samples
returning a gold value in excess of 3 ppm were re-analyzed using a
30g fire assay with a gravimetric finish.
About Timberline Resources
Timberline is a U.S.-based exploration/development company with
a focus on advanced-stage precious metals properties. The Company's
management team has a solid track record of achievement in building
successful companies and discovering, exploring, and developing
economic mineral deposits. Currently, Timberline is executing an
aggressive exploration program at its South Eureka Property, a
large drill-tested and highly prospective property in Nevada's
Battle Mountain - Eureka gold trend. In addition, Timberline has
two other business units. The Company has a 50%
carried-to-production interest at the Butte Highlands Joint Venture
which is currently in development and targeted to begin gold
production in early 2012, where the Company has also undertaken
additional surface drilling to test the extent of the mineralized
zone. Timberline also has a wholly-owned subsidiary, Timberline
Drilling, which provides cash flow to the Company from its
underground and surface drilling operations at operating mines and
advanced development and exploration projects.
Timberline is listed on the NYSE Amex where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature. Such forward-looking
statements reflect the Company's expectations about its future
operating results, performance and opportunities that involve
substantial risks and uncertainties. These statements include but
are not limited to statements regarding the timing of the Company's
continued drill program at Butte Highlands, the timing of assay
results from such drilling program being released, the Company's
50/50 joint venture with Highland Mining LLC, the development and
production of the Company's Butte Highlands project and South
Eureka project, the targeted production date for the Butte
Highlands project, targeted dates for the South Eureka technical
report and PEA, results of the Company's drilling subsidiaries,
possible growth of the Company and the Company's expected
operations. When used herein, the words "anticipate," "believe,"
"estimate," "upcoming," "plan," "intend" and "expect" and similar
expressions, as they relate to Timberline Resources Corporation, or
its management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, such factors, including risk factors, discussed in the
Company's Annual Report on Form 10-K for the year ended September
30, 2010. Except as required by Federal Securities law, the Company
does not undertake any obligation to release publicly any revisions
to any forward-looking statements.
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 release.
Contacts: Timberline Resources Corporation Paul Dircksen
Executive Chairman 208.664.4859 Timberline Resources Corporation
Randy Hardy CEO 208.664.4859
Timberline Resources (QB) (USOTC:TLRS)
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