Tintina Files Technical Report for Black Butte Copper Project, Montana, USA
January 13 2012 - 7:03PM
Marketwired Canada
Tintina Resources Inc. ("Tintina" and/or the "Company") (TSX
VENTURE:TAU)(OTCQX:TINTF) announced that today it has filed a National
Instrument 43-101 compliant technical report (the "Technical Report") for its
Black Butte Copper-Cobalt-Silver-Gold property (formerly called "Sheep Creek")
located in central Montana. The report, entitled "Black Butte Copper Project,
Meagher County, MT, November 2011 Mineral Resource Update", and dated January
13, 2012, is available on the Company's SEDAR profile at www.sedar.com.
The Technical Report, completed on behalf of the Company by independent
Qualified Persons Mike Lechner (Resource Modeling Inc.) and Art Winckers (Art
Winckers and Associates), discloses a new resource estimate on the Johnny Lee
Deposit on the Black Butte property of Indicated Resources of 8.48 million
tonnes and Inferred Resources of 1.26 million tonnes using a 1.60% copper cutoff
grade, as highlighted in the tables below. The Indicated and Inferred Resource
tables also summarize a range of Indicated & Inferred Resources, at various
cut-off grades, for the Johnny Lee Deposit (formerly called the "Upper Copper
Zone at Strawberry Butte"):
Table 1 - Johnny Lee Deposit Undiluted Indicated Mineral Resources
---------------------------------------------------------------------------
Cu Estimated Metal Grades Contained Metal
Cutoff Tonnes -----------------------------------------------------------
(%) (000) Cu (%) Co (%) Ag (g/t) Cu Lbs (M) Co Lbs (M) Ag Ozs (000)
---------------------------------------------------------------------------
0.00 16,145 2.06 0.10 16.0 733 36 8,305
---------------------------------------------------------------------------
0.40 15,956 2.08 0.10 16.1 731 35 8,259
---------------------------------------------------------------------------
0.80 14,394 2.23 0.11 16.5 707 35 7,636
---------------------------------------------------------------------------
1.20 11,284 2.57 0.11 16.6 639 27 6,022
---------------------------------------------------------------------------
1.60 8,483 2.96 0.12 16.9 553 22 4,609
---------------------------------------------------------------------------
2.00 6,137 3.41 0.14 16.9 461 19 3,335
---------------------------------------------------------------------------
2.40 4,782 3.76 0.14 16.9 396 15 2,598
---------------------------------------------------------------------------
2.80 3,735 4.09 0.15 16.4 337 12 1,969
---------------------------------------------------------------------------
Table 2 - Johnny Lee Deposit Undiluted Inferred Mineral Resources
---------------------------------------------------------------------------
Cu Estimated Metal Grades Contained Metal
Cutoff Tonnes -----------------------------------------------------------
(%) (000) Cu (%) Co (%) Ag (g/t) Cu Lbs (M) Co Lbs (M) Ag Ozs (000)
---------------------------------------------------------------------------
0.00 2,489 1.89 0.09 16.4 104 5 1,312
---------------------------------------------------------------------------
0.40 2,484 1.89 0.09 16.4 103 5 1,310
---------------------------------------------------------------------------
0.80 2,301 1.99 0.09 16.5 101 5 1,221
---------------------------------------------------------------------------
1.20 1,806 2.26 0.10 16.3 90 4 946
---------------------------------------------------------------------------
1.60 1,257 2.64 0.10 16.4 73 3 663
---------------------------------------------------------------------------
2.00 886 2.99 0.11 16.2 58 2 461
---------------------------------------------------------------------------
2.40 620 3.33 0.12 16.1 46 2 321
---------------------------------------------------------------------------
2.80 423 3.67 0.13 16.0 34 1 218
---------------------------------------------------------------------------
(i) It cannot be assumed that all or any part of an Inferred Resource will
be upgraded to an Indicated Resource, or that an Indicated Mineral Resource
will be upgraded to a Measured Resource, as a result of continued
exploration. Mineral Resources are not Mineral Reserves because there are
insufficient studies to demonstrate economic viability. Mineral Resources
are global undiluted in situ totals. Mineral Resource numbers have been
rounded and may not add up in the above table.
The copper cutoff grade of 1.60% was established for the Inferred and the
Indicated resource estimate by using a copper price of US$2.75 per pound, a
copper recovery of 81%, mining costs of US$59.00/tonne, processing costs of
US$16.00/tonne, and G&A costs of US$5.00/tonne. Readers are encouraged to read
the Technical Report in its entirety. Mineral Resources which are not Mineral
Reserves do not have demonstrated economic viability. Inferred Mineral Resources
have a high degree of uncertainty as to their existence, and a great uncertainty
as to their economic and legal feasibility. It cannot be assumed that all or any
part of an Inferred Resource will ever be upgraded to a higher category.
There are no material differences between the resource estimates disclosed in
the Technical Report and by the Company in its November 30, 2011 news release.
Jerry Zieg, Vice President of Exploration for the Company is a Qualified Person
for the purposes of National Instrument 43-101 and has reviewed and approved the
information of a scientific or technical nature contained in this news release.
About Tintina Resources Inc.
Tintina Resources Inc. is a growth company focused on the exploration and
development of base and precious metal properties around the world. The
Company's experienced Board of Directors and Management Team are focused on
advancing the Black Butte Cu-Co-Ag property in Montana towards a production
decision. The Company is also exploring an impressive portfolio of gold and base
metal projects in Alaska, including the Colorado Creek gold project located in
southwest Alaska in the same region as the 40 million ounce Donlin Creek
project.
About Black Butte Copper
The Black Butte Copper Project is located approximately 17 miles north of White
Sulphur Springs and within two miles of U.S. Highway 89 along a well-maintained
gravel road. The Black Butte Copper 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. In a short period of time the Company has been able to
establish Indicated and Inferred Resources on the Johnny Lee Deposit Upper
Copper Zone and an Inferred Resource on the Johnny Lee Deposit Lower Copper Zone
(please see the Company news release dated August 17, 2011 and November 30,
2011). The Company continues to evaluate several tabular mineralized zones along
a trend at least three kilometers strike length. The Company has completed over
30,000 meters of drilling over the course of 2011.
The Company is preparing an advanced underground exploration proposal which
includes an evaluation decline and ancillary facilities, all located on private
land in Meagher County, Montana, for presentation to the State's appropriate
authorities.
About Mining in Montana
Montana has been known as a mining state for a well over 100 years. Today, more
than two dozen mining operations are active making mining a cornerstone
contributor to the State's GDP. Tintina has met with State regulators and looks
forward to presenting the Black Butte Copper project as an underground mine with
a small footprint located on private land. The project continues to benefit from
broad local community support.
ON BEHALF OF THE BOARD OF DIRECTORS
Raj I. Chowdhry, C.A., Executive Vice-Chairman
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in
this release, including statements regarding resource estimates, the Company's
plans for and intentions and objectives with respect to exploration of the
Company's Black Butte Copper property, and the filing of an advanced underground
exploration proposal for the Black Butte Copper Project 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 key assumptions and parameters on which the resource
estimates are based are reasonable, the Company is able to obtain any government
or other regulatory approvals and any financing required to complete the
Company's planned exploration and other activities, that the Company is able to
procure equipment, personnel, supplies and any required financing in sufficient
quantities, at reasonable cost and on a timely basis to enable the Company to
meet its exploration objectives and the filing of an advanced underground
exploration proposal for the Black Butte Copper Project as planned, that the
Company's exploration activities on the Black Butte Copper property will not be
affected by actions of environmental activists or other special interest groups,
that actual results of exploration activities will be 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's operations as a
mineral exploration company and the Black Butte Copper 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,
that data and assumptions underlying the resource estimates may prove to be
inaccurate, incomplete or to have been incorrectly interpreted, the general risk
of unexpected variations in mineral resources, and grade or recovery rates,
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,
personnel 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 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.
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