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Kuriskova Uranium DepositKuriskova Uranium Deposit - Slovak Republic - 100% interest in licensesA new resource estimate for the Kuriskova uranium deposit in Eastern Slovakia was disclosed by Tournigan July 16, 2008. The estimate, prepared by SRK Consulting (U.S.) Inc. upgraded 6.6 million pounds of U3O8 (727,000 tonnes grading 0.413% U3O8) to the indicated category at higher grade than previously estimated. There is an additional inferred resource of 31.3 million pounds of U3O8 (5.8 million tonnes grading 0.247% U3O8). Resources were estimated using a cut-off of 0.03% U for comparison with prior estimates and also using a cut-off of 0.05% U.
Kuriskova Resource Estimate July 2008 (SRK)
Main Zone Kuriskova has a high-grade main zone of stratabound uranium mineralization supplemented by a lower-grade stratabound zone of mineralization, both hosted in a sequence of andesitic volcanics. Within this main zone, SRK estimated the aforementioned indicated resource of 727,000 tonnes grading 0.413% U3O8 or 6.6 million pounds of U3O8 and an inferred resource of 3.5 million tonnes grading 0.348% U3O8 or 27.1 million pounds of U3O8 (see Main Zone Total Indicated and Main Zone Total Inferred in following table). The breakdown of the base case resource estimate by SRK is as follows:
Kuriskova Insitu Resources @ 0.03%U cut-off
A complete table of the new resource estimate by SRK can be found in Appendix A or from this link:
Kuriskova Mineralization SRK's new resource estimate for the Kuriskova uranium deposit includes results from 24 of 30 diamond drill holes drilled by Tournigan at the Kuriskova deposit in 2007, 10 of 15 diamond drill holes drilled by Tournigan in 2006, 3 diamond drill holes drilled by Tournigan in late 2005, 7 of 8 diamond drill holes in January-February 2008 and 18 holes of the 27 historical diamond drill holes drilled by previous government operators. The hole spacing for this inferred resource ranged between 40 to 150 metres. Allan V. Moran, Principal Geologist and Frank Daviess, Principal Resource Geologist, both with SRK Consulting (U.S.) Inc. and independent Qualified Persons as defined by NI 43-101, prepared the current resource estimate. Next Steps Tournigan's follow-up plan is to continue infill drilling and resume exploration drilling with the goal of adding pounds of uranium, increasing grade and bringing more of the deposit into the indicated classification. Tournigan has retained SRK Consulting (U.S.) Inc., a world leader in mine engineering, to prepare a preliminary assessment for the Kuriskova deposit and to work with the company towards the feasibility stage. The assessment is expected to be completed by December 2008. The company continues its infill drill program in 2008 with another 8,500 metres of drilling planned. Location, Access and Infrastructure The Kuriskova property consists of 32 km2 of mineral claims approximately 5 km northwest of the city of Košice, a regional industrial centre in eastern Slovakia. The property, which is easily accessible, lies close to the main road between Košice in the southeast and the town of Spišska Nová Ves in the northwest. The project is accessible off the main road along a network of minor, unsurfaced tracks that traverse the forest, and give access to the project area. History Tournigan acquired a 100% interest in the Kuriskova uranium deposit and surrounding claims in 2005. Uranium mineralization was originally discovered at Kuriskova in 1985. Up to the time of the demise of the Soviet Union in 1989, all uranium exploration and mining in Czechoslovakia was conducted by State-owned organizations. In 1993 the state of Czechoslovakia split into the countries of the Czech and Slovak Republics. Work on state funded projects such as the Kuriskova deposits stopped in 1996 when the country returned to a market economy system and the state was unable to keep funding its mining projects. Geology The Kuriskova uranium deposit is part of a belt of largely strata-bound uranium-molybdenum deposits hosted in a sequence of Permian-age meta-volcanic/sedimentary rocks in eastern Slovakia. The deposit has a northwest-southeast strike, and a variably steep-moderate southwest dip (60 degrees in the upper part, 47 degrees in the lower part). The overall dimensions of the main zone of the deposit established to date by drilling, start about 120 metres below the surface and extend to a depth of approximately 650 metres below surface. The deposit has been defined approximately 650 metres along strike by 530 metres down-dip by 2.5 metres thick. Typical Cross Section  Click to View Full-Sized PDF Uranium and molybdenum mineralization is localized along the contact of overlying (younger) metamorphosed volcanic rocks and an underlying (older) unit of metamorphosed sediments (shales and quartzites) - see figure above. Most of the mineralization occurs within an andesitic volcanic unit and is only rarely observed in the underlying sediments. On a regional scale, the volcanic-sedimentary package that hosts the Kuriskova resource is Permian in age and lies within a large regional syncline (u-shaped fold) that is further deformed by sets of thrust and reverse faults and high-angle normal faults. The mineralized horizon appears to have repeated several times by stacked thrust and/or faults. Updated July 21, 2008 Mike Mracek, P.Eng., Tournigan's Chief Operating Officer and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the technical disclosure contained on this website. |
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