Titan Resources International Corp. Provides Additional Information on the Company's BC Property
21 12월 2010 - 2:47AM
Marketwired
Titan Resources International Corp. (PINKSHEETS: TNRI) (FRANKFURT:
36T1)
Property Location: The Dinty Moore
Property is located in close proximity to two significant past
producers for this area, The Wellington and Whitewater Mines
situated approximately 1 km to the NE and 2 km to the southeast
respectively. The Wellington Mine was active for 42 years from 1892
to 1934. A total of 1779 tonnes of ore produced 3,653,134 grams
silver, 124 grams gold, 231,478 kilograms lead and 87,286 kilograms
zinc. Whitewater production spans a period from 1892 to 1980.
Records indicate about 108 tonnes silver, 54 kilograms gold, 23,132
tonnes zinc, 13,942 tonnes lead, 39 tonnes cadmium and 45 kilograms
copper were recovered. Geological reports describing this area have
indicated unexplored ore possibilities existing around past
silver-lead-zinc producers in the region with the probability that
the deposits extend beyond the main centers of mineralization.
Recent work in the area has indicated that modern exploration
programs such as geophysics, stream sediment sampling and diamond
drilling have the potential to discover previously unknown
mineralization. Due to very close proximity to well explored and
mined Horse Shoe galena bearing vein which gave ore with 50 ounces
of silver per ton. Our property covers the possible extension of
Horse Shoe vein with potential for a similar style of high grade
mineralization.
Local Geology and Mineralization The
regional geology is part of well known and well documented
northwest-trending belt of sedimentary rocks called the Slocan
Group. These units host the mineralized veins in the area. Mines in
the Slocan district exploited steeply dipping silver-lead-zinc
veins and silver-lead-zinc veins and replacement deposits hosted in
shales and limestone of the Slocan Group.
Mineralization Model The mineralization
occurs in quartz and calcite veins in shear zones that cut the
Slocan sediments and trend northeast-southwest. The main
mineralization includes galena, sphalerite with lesser pyrite, and
chalcopyrite. Upper parts of the veins also contain ankerite.
Silver is associated with the galena.
Exploration history Exploration work on
inaccessible properties and properties without visible showings
during the past two centuries was done in a traditional way by
prospecting without application of advanced scientific knowledge
and sophisticated exploration techniques. In addition, fragmented
claim ownership and the presence of thick overburden slowed
significant extensive exploration. As a result, the Dinty Moore
Property has not been well explored and has potential for new
discoveries. Expected mineable deposits will possibly be extensions
of known near-surface veins or a new vein-hosted targets obscured
by overburden.
Recent work on surrounding mining properties confirmed the
occurrence of precious metal bearing veins, with potential to
identify viable economic reserves. During an exploration program
conducted by a neighboring company and reported in the BC
Government files two samples of heavy mineral material were
collected from two streams that drain the Dinty Moore Property.
Results reported from the fine grained material showed 12.8 g and
12.2 g of gold respectively. Both samples gave over 21 g of
silver.
Inadequate exploration work on this particular property boosts
the chances for ore discovery and The Company is aiming to take
advantage of modern exploration techniques to quickly complete
appropriate exploration phases prior to drilling. The Company
intends to explore its projects to their fullest potential to
realize their greatest value in the best timelines with
consideration to the current economic conditions.
"We are ready to take advantage of the rising silver price, and
the Company's focus in the near future will be given to our
property in the Slocan District of British Columbia, which produced
more than 73,305,455 ounces of silver and still has a great chance
for many occurrences of significant mineralization," said Bill
Akrivos, CEO.
About Titan Resources International Corp.
Titan Resources International Corp. is a publicly traded resource
exploration company dedicated to the acquisition, exploration and
development of small to medium size precious metals properties of
exceptional merit. Please visit our company website at
www.titan-resource.com.
This news release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events. In some cases, you can identify forward-looking statements
by terminology such as "may," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "potential" or
"continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. While
these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current
judgment regarding the direction of our business, actual results
will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested herein.
Contact: Titan Resources International Corp. (647) 933-5043
Website: http://www.titan-resource.com
Titan Resources (CE) (USOTC:TNRI)
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Titan Resources (CE) (USOTC:TNRI)
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