TOURNIGAN DRILLS HIGHEST GRADES TO DATE IN KURISKOVA’S MAIN ZONE SOUTH
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TOURNIGAN DRILLS HIGHEST GRADES TO DATE IN KURISKOVA’S MAIN ZONE SOUTH
Vancouver, February 2, 2011—Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) announced today the results of hole LE-K-64, the first infill drill hole of the current drilling season at the Kuriskova uranium deposit in Slovakia. Downhole radiometric reading from the hole returned 2.6 metres at 0.793% eU3O8 including 0.7 metres at 2.096% eU3O8. The hole intersected significantly higher grade compared to the current Inferred Resource model grade of 0.133% U3O8 in the area intersected by this hole.
“These drill results represent the highest uranium grades drilled to date in the Main Zone South portion of the Kuriskova uranium deposit,” said Dorian L. (Dusty) Nicol, Tournigan’s President and CEO. “This bodes well for a potential increase in the grade of Main Zone South during the ongoing resource update.”
Two more holes will be drilled from the same drill pad during February to further infill this portion of the resource with the objective of upgrading it to the Indicated category at higher than the currently modeled Inferred grade.
A complete table of significant intersections from this hole and 15 holes drilled in 2010, since the last resource statement, is presented in Appendix A which can be viewed from this web link: http://www.tournigan.com/i/pdf/20110202-MainZoneSouthAppendixA.pdf. The hole location can be viewed from the following web link: http://www.tournigan.com/i/pdf/KuriskovaJanuary2011SchematicPlanView.pdf.
Tournigan is continuing to drill and refine the Kuriskova resource model based on all geological and assay data. An updated resource estimate is expected in April 2011.
On January 14, 2011, Tournigan began the current drilling program with the objective to upgrade and expand the Kuriskova uranium resources. The one hole completed to date totals 481 metres of an initial 4,500 metre drilling program.
Uranium grades presented in this news release are reported as equivalent uranium oxide (eU3O8 %) based on downhole radiometric logging. The logging was performed by Koral, s.r.o. of Slovakia. Drill core samples are being submitted to the Laboratory of the Geological Survey in Slovakia (SGUDS) and ALS Chemex in Seville, Spain for chemical assay. Drill intercepts are reported as drilled; true thicknesses have not yet been calculated. Quality Control and Quality Assurance is provided by Ravi Sharma, Tournigan's Manager, Resources and Reserves, who is a Qualified Person as defined by NI 43-101 and 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 currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several 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
For further information please contact: Knox Henderson, Tournigan Energy Investor Relations, at (604) 683-8320, or visit www.tournigan.com.
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.
Cautionary Statement:
This news release contains forward-looking statements that are based on the Corporation’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Notice to US investors:
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.
Leseranfragen:
Tournigan Energy Ltd.
420-744 West Hastings Street
Vancouver, BC V6C 1A5
Knox Henderson
KHenderson(at)Tournigan.com
(604) 683-8320
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Datum: 02.02.2011 - 15:23 Uhr
Sprache: Deutsch
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