www.timminsgold.com
Timmins Gold Corp. is strategically positioned for continuous growth as a gold production and development company. Focused solely in Mexico, Timmins Gold has begun production at its wholly owned San Francisco Gold Mine in Sonora.
Timmins Gold’s objective is to expand the current reserves and the lifespan of the San Francisco Mine, advance its other gold exploration projects and make strategic acquisitions. The combination of production and advanced exploration positions Timmins Gold for future growth and increased shareholder value.
Timmins Gold drill results confirm potential for additional mineralization outside current resource
Timmins Gold Corporation (TSX-V: TMM) announced drilling results from its San Francisco property in the northern Mexican State of Sonora. The emerging gold company is in the midst of ramping up to commercial production at the company’s flagship mine. The current drilling program was carried out to test the extension of the structurally controlled mineralization outside of the current resource.
The work consisted of 6,515m of systematic surface reverse circulation drilling, across 69 holes in two zones, one 150m from the Northwest Limit of the current open pit operation and the second 200m from the Southeast.
At the Northwest zone 42 holes were drilled covering 4,300m, results indicate that the gold mineralization extends along strike to the NW and SE of the currently planned pit limits.
The Northwest zone results highlights include Hole TF-200, which intersected 34.5 meters grading 1.43 grams per tonne (gpt) gold from a depth of 28.5m. Similarly hole TF-185 intersected from the surface, 13.5m grading 1.05gpt gold, while TF-189 cut 13.5 meters grading 1.77gpt gold from a depth of 25.5m.
The program also returned anomalous intersections which follow the trace of a major mineralized structural feature. According to Timmins, the intersections indicate that through additional drilling, the overall footprint of the San Francisco deposit may be amenable to significant expansion.
The feature is thought to have been important in the localization of gold mineralization in the existing resource, it is 650m across at its widest dimension inside the pit. This structural zone is now known to continue to the NW and SE and presents high priority exploration targets, which the Ventures Junior will explore in future programs.
The current program on the Southeast zone consisted of 2,215m of reverse circulation drilling in 27 holes, wit aimed to determine the continuity of near surface gold mineralization which was identified from previous programs.
At the Southeast zone, the results show at least two shallow mineral zones located between surface and 80m in depth. The zones are elongated along an East-to-West strike, with a width of 60m. Highlights from the program include Hole TF-159 which intersected 2.31 grams per tonne (gpt) gold over 15m, also holes TF-161 and TF-199 intersected 1.45gpt gold and 1.09gpt over 15m and 19.5m respectively.
A second drill rig is on its way to the mine and an extensive drill program is currently being planned for 2010, both the Northwest and Southeast zones require further drilling. The 2010 program will be aimed at increasing the resource at the San Francisco mine.
About Timmins Gold
Timmins Gold Corporation is strategically positioned for gold production and development. Focused solely in Mexico, Timmins Gold is currently ramping up to commercial production at its wholly owned San Francisco Gold mine in Sonora, Mexico.
The mine is a past-producing open pit heap leach operation from which Timmins Gold has projected production at a rate in excess of 80,000 ounces of gold per year at a life of mine cash cost of approximately $412 per ounce. (Micon International Preliminary Feasibility Study, March 2008)
To date all plant and equipment necessary for full production is in place including crushing, leaching and extraction facilities. Surface drilling in the vicinity of the deposit is ongoing with the objective of adding gold ounces to the inventory to expand current mine life.
