Tintina Resources Inc. (TSX VENTURE: TAU) ("Tintina" or the
"Company") is pleased to announce that it has completed a NI 43-101
compliant resource estimate on a second deposit on its Sheep Creek
Copper-Cobalt-Silver-Gold property ("Sheep Creek") located in
Central Montana, USA (see Figure 1).
Highlights:
-- The Lower Copper Zone at Sheep Creek contains an Inferred Resource of
2.5 MMT grading 4.71% Cu, 0.06% Co, 5.1 g/tonne Ag, and 0.35 g/tonne Au
at a 1.5% Cu cut-off grade based on an assumed copper price of $2.50/lb.
Table 1 shows a range of Lower Copper Zone (LCZ) undiluted
Inferred Resources at various cut-off grades. Using a copper
cut-off grade of 1.5%, and based on an assumed copper price of
$2.50/lb, the LCZ contains an undiluted Inferred Resource of 2.46
million tonnes which average 4.71% Cu, 0.06% Co, 5.1 grams/t Ag and
0.35 grams/t Au, which totals 255 million pounds of copper. Table 2
shows the individual assay results from the 10 historic and 15
recently completed drill hole intersections that were used in this
estimate. After reviewing the results from a verification drilling
program which twinned three of the 10 historic LCZ drill hole
intersections, Mike Lechner, the independent Qualified Person for
the resource estimation work, has determined that the new drilling
results confirm the historic results, and that the historic
intervals can be used in conjunction with the new drilling data to
estimate Inferred Resources. All resource blocks lie within 75
meters of a drill hole intersection.
Jerry Zieg, Vice President of Exploration, said, "This new
resource estimate keeps us firmly on the path toward our 2011 goal
of identifying one billion pounds of copper in Inferred and
Indicated Resource categories at Sheep Creek. Infill and expansion
drilling of the existing Upper Copper Zone Inferred Resource (7
million tonnes grading 2.4% Cu, 0.12% Co, and 12.3 g/t Ag
containing 366 million pounds of copper - see January 6, 2011 news
release) in the Strawberry Butte target area, together with the
results from ongoing drilling on the Lower, Middle, and Upper
Copper Zones in Strawberry East target area two miles to the east,
should ensure we achieve this objective."
Table 1 - LCZ Undiluted Inferred Resources:
---------------------------------------------------------------------------
Cu Cu Co Au Ag
Cutoff Tonnes Cu Co Au Ag Lbs Lbs Ozs Ozs
(%) (000) (%) (ppm) (g/t) (g/t) (000) (000) (000) (000)
---------------------------------------------------------------------------
0.00 2,671 4.41 549 0.34 5.1 259,612 3,232 29 438
---------------------------------------------------------------------------
0.25 2,663 4.43 549 0.34 5.1 260,008 3,222 29 437
---------------------------------------------------------------------------
0.50 2,649 4.45 546 0.34 5.1 259,809 3,188 29 434
---------------------------------------------------------------------------
0.75 2,592 4.53 549 0.34 5.0 258,788 3,136 28 417
---------------------------------------------------------------------------
1.00 2,563 4.57 550 0.34 5.0 258,153 3,107 28 412
---------------------------------------------------------------------------
1.25 2,520 4.63 547 0.34 5.0 257,154 3,038 28 405
---------------------------------------------------------------------------
1.50 2,462 4.71 550 0.35 5.1 255,576 2,984 28 404
---------------------------------------------------------------------------
1.75 2,387 4.81 558 0.35 5.1 253,052 2,936 27 391
---------------------------------------------------------------------------
2.00 2,304 4.91 557 0.34 5.1 249,331 2,828 25 378
---------------------------------------------------------------------------
2.25 2,212 5.03 555 0.34 5.1 245,225 2,706 24 363
---------------------------------------------------------------------------
2.50 2,131 5.13 557 0.33 5.1 240,942 2,616 23 349
---------------------------------------------------------------------------
2.75 2,028 5.25 551 0.33 5.1 234,660 2,463 22 333
---------------------------------------------------------------------------
3.00 1,905 5.41 566 0.33 5.2 227,145 2,376 20 318
---------------------------------------------------------------------------
It cannot be assumed that all or any part of an Inferred Mineral
Resource will be upgraded to an Indicated or Measured Resource as a
result of continued exploration. Mineral Resources are not Mineral
Reserves because there are insufficient studies to demonstrate
economic viability. The Inferred Mineral Resources shown in Table 1
are global undiluted in situ totals. The contained Inferred Mineral
Resource metal quantities shown in Table 1 are based on tonnes and
grades that have been rounded and may not necessarily calculate to
the quantities shown. A NI 43-101 Technical Report detailing this
Inferred Mineral Resource estimate will be filed on SEDAR within
the next 45 days.
Table 2 - Historic and Verification Drill Intersections:
Drill From To Length Length Cu Co Au Ag
hole (m) (m) (m) (ft) % % g/t g/t
(i)SC-50 367.89 370.33 2.44 8.0 7.75 0.01 0.40 3.2
(i)SC-51 397.61 404.77 7.16 23.5 5.80 0.01 0.19 1.7
(i)SC-55 463.60 470.31 6.71 22.0 10.12 0.02 0.43 12.5
(i)SC-57 482.50 484.94 2.44 8.0 9.39 0.02 0.38 8.7
(i)SC-90 383.26 384.54 1.28 4.2 11.64 0.02 0.10 10.9
(i)SCC-17 355.70 358.14 2.44 8.0 6.82 0.05 0.34 3.0
(i)SCC-20 343.05 344.97 1.92 6.3 1.21 0.02 0.13 1.8
(i)SCC-21 394.56 400.66 6.10 20.0 4.78 0.04 0.24 4.0
(i)SCC-34 413.61 417.27 3.66 12.0 9.84 0.10 0.40 7.7
(i)SCC-46 400.35 412.76 12.41 40.7 5.71 0.03 0.27 2.4
SC10-003 350.40 351.69 1.29 4.2 4.08 0.06 0.57 4.3
SC10-004 414.00 418.05 4.05 13.3 10.84 0.08 0.21 8.3
SC10-005 401.00 412.15 11.15 36.6 4.99 0.07 0.20 3.9
SC11-007 409.66 411.24 1.58 5.2 1.38 0.01 0.07 3.2
SC11-008 353.38 357.40 4.02 13.2 1.56 0.02 0.38 3.8
SC11-009 415.42 416.67 1.25 4.1 1.35 0.00 0.06 1.0
SC11-010 450.10 458.75 8.65 28.4 0.48 0.02 0.03 7.2
SC11-011 409.65 422.70 13.05 42.8 3.18 0.02 0.35 2.5
SC11-012 384.65 387.55 2.90 9.5 2.37 0.12 1.74 6.8
SC11-015 449.29 456.59 7.30 24.0 3.14 0.04 0.46 6.1
SC11-023 421.35 424.59 3.24 10.6 0.19 0.28 0.89 5.1
SC11-029 437.00 441.50 4.50 14.8 11.39 0.19 0.30 8.0
SC11-031 426.08 428.24 2.16 7.1 0.64 0.03 0.01 2.0
SC11-032 374.51 375.72 1.21 4.0 0.47 0.01 0.01 4.0
SC11-048 359.92 367.60 7.68 25.2 6.96 0.09 0.69 6.4
(i) Historic drill holes
The LCZ is a tabular layer of copper-cobalt-silver-gold
mineralization with bands and masses of chalcopyrite concentrated
within a massive pyritic sulfide layer hosted by a silicified shale
and debris flow conglomerate unit that lies at depths ranging from
373 meters to 442 meters below the surface. Mineralized intervals
range between 1.2 and 13.1 meters in thickness (Figure 2). The zone
is fault bounded on its north and south margins. The historic
results summarized in Table 2 were collected from 10 drill holes
that initially identified LCZ mineralization and were completed by
Cominco American Inc., BHP, and Utah International between 1985 and
1989. Tintina completed 15 holes within the LCZ earlier this year
as part of its ongoing drilling campaign (Figure 1). All drill hole
intersections represent approximate true thicknesses in the
gently-dipping mineralized zones. Historic resources that were
calculated by earlier operators are non-compliant with NI 43-101
standards and are not being relied upon for resource estimation
purposes. There is potential for additional resource in the LCZ and
in the six other Cu-Co occurrences so far identified on the
property (Figure 3).
To view Figures 1, 2 and 3 accompanying this press release,
please click on the following link:
http://media3.marketwire.com/docs/tau817i.pdf
The Company has completed infill drilling of the Upper Copper
Zone at Strawberry Butte with the objective of upgrading Inferred
material to a Measured and/or Indicated status. Meanwhile, drilling
is ongoing in the Strawberry East target area with the objective of
identifying additional resources in the Middle Copper Zone and
Lower Copper Zone stratigraphy.
The Mineral Resource estimate for the LCZ was prepared by Mike
Lechner, president of Resource Modeling Inc, an independent
Qualified Person as defined by NI 43-101. The drill hole database
that was used to estimate Mineral Resources for the LCZ consists of
10 drill holes completed by Cominco American Inc., Utah
International, and BHP totaling 4,668 meters, and 15 drill holes
completed by Tintina, totaling 6,979 meters. The Mineral Resource
estimate was completed by constructing a three dimensional computer
block model with blocks measuring 10m x 10m x 2m in the X, Y, and Z
dimensions, respectively. Three-dimensional wireframes were
constructed for the LCZ based on logged mineralogical
characteristics and grade assays. Several bounding structures (i.e.
the Volcano Valley and Buttress Faults) were also modeled and used
to limit the LCZ wireframe. Assay grades were capped at 10.0% Cu
(56 samples), 0.6% Co (3 samples), and 1.0 g/t Au (14 samples); Ag
assays were not capped. Two-meter-long drill hole composites were
generated from the assay data after capping the high-grade outliers
and were subsequently used to estimate copper, cobalt, silver and
gold grades using an inverse distance weighting methodology. The
block grades were validated visually and by comparing the grades
with a nearest neighbor model. A density of 3.80 g/cm(3)was
selected to tabulate resource tonnage based on density
determinations from fresh drill core collected by Tintina from the
2010 and 2011 drilling campaigns. The HQ and NQ drill core was sawn
in half and shipped to ALS Chemex in Vancouver, BC where it was
assayed for base and precious metals. Tintina has implemented a
quality assurance/quality control (QA/QC) program for their 2010
and 2011 drilling campaigns consisting of inserting certified
standard reference materials and blanks into the sample stream. In
addition, duplicate samples were generated from coarse reject
materials and compared with the original sample results. Historical
assays were obtained from files donated to the University of
Montana drill core collection by Cominco American Inc. These files
do not contain original assay certificates, and attempts to recover
these have so far have been unsuccessful.
Jerry Zieg, Vice President of Exploration for the Company is a
Qualified Person for the purposes of NI 43-101 and has reviewed and
approved the information of a scientific nature contained in this
news release.
About Sheep Creek
The Sheep Creek deposit is located approximately 17 miles north
of White Sulphur Springs within two miles of U.S. Highway 89 along
a well-maintained gravel road. The Sheep Creek property consists of
approximately 12,225 acres of fee simple lands and mining claims in
central Montana. The property contains sediment-hosted zones of
massive sulfide mineralization originally explored by Cominco
American Inc. and BHP during the 1980's and early 1990's.
Historical drilling encountered significant zones of strata-bound
copper sulfide with associated cobalt and silver mineralization in
multiple bedded massive pyrite horizons in the lower part of the
Precambrian Belt Supergroup. This same stratigraphic unit hosts the
famous Sullivan zinc-lead-silver deposit in southeastern B.C. The
Company continues to evaluate several tabular mineralized zones
along a four kilometer strike length. The Company has two drill
rigs on site and will continue drilling over the course of
2011.
About Tintina Resources
Tintina is a growth company focused on the exploration and
development of precious and base metal properties around the world.
The Company's experienced management team has assembled an
impressive portfolio of gold and base metal projects in Alaska,
including the Colorado Creek gold project, located in southwest
Alaska approximately 100 miles northwest of the 40 million ounce
Donlin Creek project, the Kugruk copper project located 70 miles
north of Nome in the northern Seward Peninsula, Alaska, and the
Sheep Creek copper-cobalt-silver-gold property in Montana. The
Company, in a short period of time, has successfully established
itself in several of the most prolific mineral belts in North
America.
Website: www.tintinaresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
Louis A. Lepry, Jr., President & CEO
Cautionary Note Regarding Forward-Looking Statements: Certain
disclosure in this release, including statements regarding the
Company's plans for and intentions with respect to exploration of
the Company's Sheep Creek property, constitutes "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and Canadian securities
legislation. In making the forward-looking statements in this
release, the Company has applied certain factors and assumptions
that the Company believes are reasonable, including that the
Company is able to obtain any government or other regulatory
approvals and any financing required to complete the Company's
planned exploration activities, that the Company is able to procure
equipment and supplies in sufficient quantities and on a timely
basis, that the Company's exploration activities on the Sheep Creek
property will not be affected by actions of environmental activists
or other special interest groups, and that actual results of
exploration activities are consistent with management's
expectations. However, the forward-looking statements in this
release are subject to numerous risks, uncertainties and other
factors relating to Tintina Resource's operation as a mineral
exploration company and the Sheep Creek property that may cause
future results to differ materially from those expressed or implied
in such forward-looking statements. Such uncertainties and risks
include, among others, actual results of the Company's exploration
activities being different than those expected by management,
uncertainties involved in the interpretation of drilling results
and geological tests, delays in obtaining or inability to obtain
required government or other regulatory approvals or financing,
interference with Tintina Resource's exploration activities by
environmental activists or other special interest groups, inability
to procure equipment and supplies in sufficient quantities and on a
timely basis, equipment breakdowns and bad weather. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Readers are cautioned not to place
undue reliance on forward-looking statements. Tintina Resources
does not intend, and expressly disclaims any intention or
obligation to, update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as required by law.
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: Tintina Resources Inc. Philippe Van Nieuwenhuyse
Investor Relations 604-628-1162 ext. 236 604-628-1163 (FAX)
philvann@tintinaresources.com www.tintinaresources.com
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