Timberline Resources Corporation (TSX VENTURE: TBR)(NYSE Amex: TLR)
("Timberline" or the "Company") today announced additional results
from underground drilling at the Butte Highlands Gold Project in
southwestern Montana.
The planned 86-hole, 49,500-foot (15,000-metre) program is
designed for detailed delineation of the mineralization and
underground mine planning. Timberline holds a 50-percent interest
in the project, which is under development and scheduled to begin
gold production in early 2012.
Twelve intervals with gold grades greater than 0.10 opt (3.42
g/t) were identified within the nine new holes reported today.
Highlights included Hole BHUG11-011 which contained a 13.8 foot
(4.2 metre) interval grading 0.37 ounces per ton (opt) (12.7 grams
per tonne (g/t)), including a 4.0 foot (1.2 metre) interval grading
1.13 opt (38.7 g/t), and BHUG11-013 which contained an 11.9 foot
(3.6 metre) interval grading 0.31 opt (10.6 g/t), including a 2.9
foot (0.9 metre) interval grading 1.01 opt (34.6 g/t).
Paul Dircksen, Timberline's President and CEO, said, "We are
very pleased with our drilling to-date at Butte Highlands. Once
this program is finished, we plan to compile the results into our
comprehensive mining plan, complete the necessary underground
development, and begin gold production."
All of the newly reported holes were drilled in the main portion
of the Old Mill Block from underground Drill Station DS-3.
(Intervals are reported relative to DS-3.) Drilling has focused on
the upper portion of the "Old Mill Block", which has overall
dimensions of approximately 275 feet (84 metres) along strike, 1100
feet (335 metres) down dip, and a mineralized thickness of 8 to 15
feet (2.5 to 4.5 metres). Highlights from past and current drilling
in the Old Mill Block at Butte Highlands include gold intercepts of
10 feet of 7.88 opt (3.1 metres of 269.86 g/t), 33.6 feet of 1.65
opt (10.2 metres of 56.51 g/t), 14.3 feet of 2.37 opt (4.4 metres
of 81.16 g/t) and 33.6 feet of 1.65 opt (10.2 metres of 56.5 g/t)
including 5 feet of 10.45 opt (1.5 metres of 357.9 g/t).
The following table summarizes all drill intervals received to
date that exceed 0.1 opt gold. Figures showing the drill program in
plan view may be seen on Timberline's web site at
http://www.timberline-resources.com/main.php?page=196.
Current drill results from the Old Mill Block include:
----------------------------------------------------------------------------
From Length Gold From Length Gold
Drill Hole (feet) (feet) (opt)(i) (metres) (metres) (g/t)(i)
----------------------------------------------------------------------------
BHUG11-009 266.1 3.6 0.15 81.1 1.1 5.14
----------------------------------------------------------------------------
BHUG11-009 271.2 3.5 0.12 82.7 1.1 4.11
----------------------------------------------------------------------------
BHUG11-009 496.2 10.0 0.10 151.2 3.1 3.42
----------------------------------------------------------------------------
including 496.2 5.0 0.12 151.2 1.5 4.11
----------------------------------------------------------------------------
BHUG11-010 345.6 9.9 0.13 105.3 3.0 4.45
----------------------------------------------------------------------------
including 345.6 5.4 0.18 105.3 1.7 6.16
----------------------------------------------------------------------------
BHUG11-010 488.0 15.5 0.15 148.7 4.7 5.14
----------------------------------------------------------------------------
including 493.0 10.5 0.20 150.3 3.2 6.85
----------------------------------------------------------------------------
or 498.6 4.9 0.38 152.0 1.5 13.01
----------------------------------------------------------------------------
BHUG11-011 184.9 13.8 0.37 56.4 4.2 12.67
----------------------------------------------------------------------------
including 188.8 4.0 1.13 57.6 1.2 38.70
----------------------------------------------------------------------------
BHUG11-012 289.3 1.8 0.11 88.2 0.6 3.77
----------------------------------------------------------------------------
BHUG11-012 307.1 4.3 0.11 93.6 1.3 3.77
----------------------------------------------------------------------------
BHUG11-013 468.8 11.9 0.31 142.9 3.6 10.62
----------------------------------------------------------------------------
including 474.5 2.9 1.01 144.6 0.9 34.59
----------------------------------------------------------------------------
BHUG11-013 535.7 5.0 0.27 163.3 1.5 9.25
----------------------------------------------------------------------------
BHUG11-015 321.5 9.6 0.19 98.0 2.9 6.51
----------------------------------------------------------------------------
including 321.5 7.0 0.26 98.0 2.1 8.90
----------------------------------------------------------------------------
including 325.2 3.3 0.49 99.1 1.0 16.78
----------------------------------------------------------------------------
BHUG11-017 310.3 2.8 0.12 94.6 0.9 4.11
----------------------------------------------------------------------------
(i) Troy ounces per ton (opt) and grams per tonne (g/t)
Additional results from the ongoing program at Butte Highlands
are expected shortly and will be reported by the Company as they
are received.
Timberline holds a 50-percent interest in the Butte Highlands
Joint Venture which is targeted to commence gold production in
early 2012. Timberline's JV partner, Highland Mining, LLC is
funding all project development costs, with Timberline's 50-percent
share of costs to be paid out of proceeds from future mine
production. A feasibility study has not been completed at Butte
Highlands, and there is no certainty the proposed operation will be
economically viable. Photos and videos of development progress at
Butte Highlands, along with other additional project information,
can be seen at
http://www.timberline-resources.com/main.php?page=167.
Butte Highlands is located within a favorable geologic domain
that has hosted several multi-million ounce gold deposits including
Butte, Golden Sunlight, Montana Tunnels, and Virginia City. The
property was extensively drilled by Battle Mountain Gold, Placer
Dome, ASARCO, and Orvana Minerals in the 1980s and 1990s.
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 photographing, core
logging and cutting the sample intervals in half, the samples were
shipped to ALS Chemex Laboratories in Elko, Nevada for preparation.
The prepared pulps were then forwarded by ALS Chemex to their lab
in Sparks, Nevada or their lab in Vancouver, BC, Canada 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 10 ppm were re-analyzed using a 30g fire assay with a
gravimetric finish.
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States. The
Company is primarily focused on the goldfields of Nevada, where it
is advancing its flagship Lookout Mountain Project toward a
production decision while exploring a pipeline of quality
earlier-stage projects at its South Eureka Property and elsewhere.
Timberline also features a 50-percent carried-to-production
interest at its Butte Highlands Joint Venture where gold production
is slated to commence early in 2012. Timberline management has a
proven track record of discovering economic mineral deposits and
developing them into profitable mines. The Company also holds
Timberline Drilling, a wholly-owned subsidiary that provides
diamond drilling services and cash flow from underground and
surface contract drilling operations.
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 or results of
the Company's 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 CEO
208.664.4859
Timberline Resources (QB) (USOTC:TLRS)
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