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Tournigan Energy Ltd.
| | October 01, 2009
Tournigan Resumes Drilling at Kuriskova Uranium Deposit
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| | Vancouver, October 1, 2009 - Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) announces that drilling has resumed on its Kuriskova uranium deposit in Slovakia. One drill rig has mobilized to site and begun drilling; a second drill rig is being mobilized and will arrive at site shortly. The initial drill program will comprise about 5,000 metres of step-out and infill drilling intended to expand and upgrade the Kuriskova uranium resource. Results of this initial program will help define and plan subsequent drilling to be done in 2009 and early 2010. The complete program will total about 14,000 metres.
The objective of the program will be to continue expanding the Kuriskova resource, to upgrade a significant portion of the inferred resource to the indicated category, to increase the overall grade of the deposit and to provide subsurface geotechnical and hydrogeological data to be used for engineering design. The resulting updated resource estimate will provide the basis for the reserve estimate in the Kuriskova Project pre-feasibility study Tournigan intends to begin shortly.
The first holes to be drilled are step-out holes adjacent to a high-grade portion of indicated resource in Kuriskova's Main Zone (see map at http://www.tournigan.com/i/pdf/tvc-explo-sept09.pdf). Drill holes near the boundary of this zone intercepted high-grade uranium mineralization (LH-K-10A: 6.5 metres @ 2.16% U3O8; LH-K-12A: 2.35 metres @ 1.38% U3O8; and LH-K-14A: 6.0 metres @ 0.79% U3O8) which remains open and appears to be getting shallower to the northeast. The initial holes will test for extensions to this mineralization; subsequent step-out drilling in this zone will be planned to test for further extensions if initial results warrant.
The currently defined Kuriskova resource, disclosed in a news release dated February 24, 2009, is 14.65 million pounds U3O8 at 0.558% U3O8 indicated and 17.90 million pounds U3O8 inferred at 0.215% U3O8 using a cut-off of 0.05%U (SRK Consulting US).
The deposit remains open along strike and at depth. Several exploration targets have been identified in the immediate area of the currently defined resource (see map). These could represent extensions to the known mineralization and/or satellite uranium deposits and will be tested during this and the next phases of drilling.
Dorian L. (Dusty) Nicol, M.A. Geo, Tournigan's president and CEO, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release.
About Tournigan
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and, as of January 1, 2009, has adopted the Euro currency. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has five other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made in this release, including any information as to the Company's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
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.
For further information please contact: Knox Henderson, Tournigan Energy Investor Relations, at (604) 683-8320, or visit www.tournigan.com. |
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