After the Settlement with McEwen Mining on Los Azules Copper TNR Gold is very well positioned to move fast in order to advance its Shotgun Gold project. Co-Founder of NovaGold Gregg Johnson has joined TNR Gold Board last Fall after the exploration results were announced from the property. Now company is staking additional ground around its recent discoveries. New claims holding increases the TNR Gold land position by 4 times to the total of 10,560 acres:
"Extrapolating the known mineralized structures into the area surrounding Shotgun Ridge, the Company identified additional areas where similar mineralization may be present and as a result acquired the mineral rights to these adjacent targets. A portion of future exploration work will be conducted in these new areas beginning by revisiting previously identified gold showings in respect of the new structural models."
• Drill hole SR12-58 returns mineralized interval of 83 metres averaging 0.82 grams per tonne gold.
• Included within this interval is 18.35m averaging 2.03 grams per tonne gold (“g/t Au”).
• Drill hole SR12-58 ended in mineralization at a down hole depth of 221 metres
• The gold mineralization at Shotgun Ridge remains open at depth
• Interpretation of new geophysical results opens up prospectivity of additional targets
• Drill hole SR12-57 returns mineralized interval of 209 metres averaging 1.02 grams per tonne gold.
• Included within this interval is 61.4m averaging 1.53 g/t Au.
• Combined with SR12-56 ( containing a 242m interval with 1.25 grams per tonne gold), the gold mineralization model at Shotgun Ridge is confirmed along strike and down dip
• Drill hole SR12-57 ended in mineralization at a down hole depth of 300 metres (approximately 150m below the topographic surface).
Vancouver B.C.: TNR Gold Corp. (the "Company" or "TNR") expanded their land position at the wholly owned Shotgun Gold project in Alaska. A total of 66 mining claims, each 160 acres, were located over and surrounding the Shotgun Ridge prospect for a total of 10,560 acres (4273.48 hectares). Sixteen of these claims were converted from Traditional Claims to MTRSC Mining Claims (meridian, township, range, section and claim) making the area of new acquisitions equal to 8000 acres (3237.48 hectares).
TNR acquired 100% of the Shotgun Ridge prospect in 2010 following a 50/50 joint venture withNovagold Resources Inc. ("Novagold"). The Traditional Claims were located over the Shotgun Ridge deposit and the Company elected to convert these to MTRSC Mining Claims to simplify administration of the land titles in accordance with Senate Bill 175.
Ground geophysical surveys conducted in 2011 and 2012 by TNR helped to identify structural controls on mineralization at Shotgun Ridge. Drill testing in 2012 confirmed the structural model of mineralization with two drill holes returning mineralized intervals in excess of 200 metres, SR12-56 returned 242 metres averaging 1.25 g/t gold and SR12-57 returned 209 metres averaging 1.02 g/t gold (news release dated 10 October 2012).
Extrapolating the known mineralized structures into the area surrounding Shotgun Ridge, the Company identified additional areas where similar mineralization may be present and as a result acquired the mineral rights to these adjacent targets. A portion of future exploration work will be conducted in these new areas beginning by revisiting previously identified gold showings in respect of the new structural models.
The Company is targeting a large tonnage low-grade porphyry system at Shotgun Ridge. Structural repeats, as interpreted from airborne magnetic data and ground geophysical surveys, provide TNR with encouraging targets for future drill testing.
John Harrop, PGeo, FGS, a Qualified Person for TNR Gold Corp. as defined by NI 43-101 has reviewed the technical information contained in this report.
Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.
TNR's subsidiary, International Lithium Corp. (TSX: ILC.V - News), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. Gangeng Lithium Co. Ltd. Is a leading China based, multi-product lithium manufacturer, and strategic partner and investor in ILC. TNR remains a large shareholder in ILC at 25.5% of outstanding shares.
At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirm TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.
For further details on the Shotgun Ridge Project please view the powerpoint presentation at
On behalf of the board,
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. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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