Tawsho Announces Successful Completion of Summer Drill Program
07 Januar 2013 - 10:01PM
Marketwired Canada
Tawsho Mining Inc. (TSX VENTURE:TAW) is pleased to report the results from its
2012 drilling campaign on its Whisker Valley property located on the Baie Verte
Peninsula, northwest Newfoundland. A total of 11 holes were drilled in 2012
totaling 2581metres of core. Previous drill and trenching campaigns had
identified significant gold intersections at two localities: i) the Road Pit
showing and ii) the White Face Hill showing (formerly called New Discovery
Showing). The objective of the 2012 drill campaign was to test and extend these
showings both with depth and length.
The Road Pit Showing:
Gold mineralization in the Road Pit Showing is exposed at surface in trenches as
steeply dipping gold bearing quartz veins containing finely disseminated and
stringer sulfide minerals and hematite. The Au-bearing quartz veins sampled in
trenches (see press release dated February 9, 2012) and in core drilled in 2010
and 2011 (see press releases dated August 22, 2011 and November 17, 2010) had
variable grades across the width of the vein, but channel samples 1m in width
taken along the length of the vein returned weight-averaged values of 8.68 gpt
over 12.5 length for the vein exposed NW of the road and 7.26 gpt over 10 length
for the main vein in the pit SE of the road.
Hole WK12-01 was drilled to test the depth extension of the two veins described
above. This drill-hole intersected breccia containing angular reddish
hematitized quartz monzonite fragments and several intervals containing quartz
and highly silicified fragments hosting finely disseminated pyrite and traces of
chalcopyrite. Structures resembling cockade and pseudo-crustiform open spaces
and vuggy intervals partially filled with quartz crystals, carbonate minerals
hematite and banded chalcedony were locally observed in the core. These textures
and breccia structures are indicative of epigenetic low sulfidation hydrothermal
activity. Quartz veins hosting Au-bearing pyrite and pyrite-chalcopyrite-galena
bearing veins seen at surface were not observed in the core. Instead gold
mineralization occurs within the vuggy breccia interval containing trace amounts
of pyrite and chalcopyrite hosted by the silicified quartz monzonite and
isolated hematite bearing quartz vein fragments.
The second hole WK12-03 located 130 metres SW from hole WK12-01 was drilled to
extend the westward extent of the veins exposed in the trenches. This hole
throughout its length only intersected slightly altered phaneritic quartz
monzonite and did not intersect the veins that were expected to be present on
basis of their structural orientation as seen in trenches and projected to the
section intersected by the drill hole. The core was well sampled at all
alteration intervals. Even though quartz veinlets and chlorite bearing fractures
were present in the altered quartz monzonite/granodiorite they did not contain
any gold.
White Face Hill Showing:
Two drill holes completed in 2011 each intersected three and five strongly
silicified foliated sheared intervals hosting lenticular quartz/chalcedony veins
containing minor amounts (less than 5%) disseminated sulfides. These intervals
contained significant gold grades well in excess of 1 gpt over sampled core
thickness varying from 0.2 to 0.7 metres (see press release dated August 22,
2011). The highest reported value was 47.3 gpt over 0.15metres. The shears and
vein intervals identified in the drill core were structurally projected approx.
250 metre NW from the most westerly drill hole (WK11-07) unto higher ground
containing outcrop. Prospecting, geological mapping and trenching exposed
several lenticular veins up to 20 cm thick within highly chloritized shear
zones. These veins chip-sampled across 1 metre widths and approx. 1.5m apart had
a weighted average grade of 3.88 gpt over a 10 metre length (see press released
dated February 9, 2012).
During the 2012 drilling campaign nine holes were drilled on grid 100 metres
apart. All 9 holes intersected gold mineralization. Table 1 reports all
intersections for each of the holes that contain grades in excess of 0.5 gpt.
The mineralization consists of numerous veins that all have similar
characteristics typical of lode gold mineralization. The mineralization is
contained as a sheeted vein complex consisting of numerous narrow lenticular
quartz-chalcedony veins sheathed with a sericitic aureole and hosted within a
foliated chloritized shear zone and extension fractures. This mineralized shear
zone has now be traced by drilling over a 600m strike-interval and possibly 800
m if future drilling can connect the mineralization located on strike at the
bottom of hole WV10-06 and the most easterly hole (WK12-11) drilled in 2012.
Vertical projections of mineralized intersections indicate that the mineralized
zone may have a horizontal width of in excess of 200metres. These are
preliminary projections still need to be verified by more closely spaced section
drilling. These preliminary data at this point also indicate that there are more
that 2 sets of gold bearing vein directions. Drill sections centered on line
1+00W (hole WK12-05 drilled under hole WK11-08) and on line 2+00W (holes WK12-02
drilled under hole Wk12-06 which was drilled under hole WK11-07) both indicate
that more than two veins sets having different and opposing dips and/or strike
orientations are required to resolved the geometrical configuration of their
intersections in the drill core. Mineralization also becomes more intense in the
westward directions as evidenced by the increasing grades and more closely
spaced distances between individual mineralized intervals across the mineralized
interval which also is increasing in width (see Table 1).
Joseph Feldman, president and CEO of Tawsho Mining stated "We continue to be
impressed with the high grades encountered in our drill intersections. In our
most recent drill campaign, the increasing widths and continuity of
mineralization is very encouraging. We are increasingly confident that with each
stage in our exploration and drilling program, we are beginning to better
understand the character of the expanding footprint and nature of gold
mineralization on the Whisker property and this is helping us identify the core
location of the deposit. The mineralized showing is still open to the west and
with depth. Our next drilling campaign, in addition to extending the spatial
extent of mineralization, will undertake to better define the geometric
constraints of mineralization with more closely spaced holes on section to
provide the data required to undertake a preliminary resource calculations."
Table 1: 2012 Drill Campaign
All intersections with Au Assays greater than 0.5 gpt
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Duplicate
Screen
assay on
Interval Fire Reject Average
Hole # From To (i) assay gpt gpt assay gpt
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Road Pit Showing
WK12-01 37.20 37.58 0.38 8.12 6.47 7.29
WK12-01 40.00 40.23 0.23 0.78 0.88 0.83
WK12-01 178.60 178.84 0.24 0.69 0.69
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Wk12-03 0.00
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White Face Hill Showing
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WK12-02 57.65 58.00 0.35 2.12 2.54 2.33
WK12-02 73.79 73.95 0.16 0.75 0.75
WK12-02 83.20 83.38 0.18 1.03 1.36 1.19
WK12-02 106.20 106.35 0.15 4.00 4.54 4.27
WK12-02 109.13 109.35 0.22 15.25 15.19 15.22
WK12-02 120.28 120.56 0.28 10.32 9.73 10.03
WK12-02 208.15 208.30 0.15 1.67 1,87 1.77
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WK12-04 80.87 81.10 0.23 36.24 42.53 39.38
WK12-04 141.49 141.72 0.23 0.54 0.56 0.55
WK12-04 142.00 142.20 0.2 1.22 1.33 1.28
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WK12-05 11.52 11.63 0.11 5.39 5.58 5.48
WK12-05 22.50 22.63 0.13 1.98 1.84 1.91
WK12-05 25.08 25.43 0.35 1.00 0.95 0.98
WK12-05 27.18 27.36 0.18 13.86 16.75 15.31
WK12-05 31.23 31.40 0.17 1.81 2.22 2.02
WK12-05 32.18 32.33 0.15 0.45 0.46 0.45
WK12-05 32.33 32.55 0.22 6.49 6.28 6.83
WK12-05 32.79 32.95 0.16 0.47 0.47
WK12-05 33.26 33.76 0.5 0.76 0.24 0.50
WK12-05 34.06 34.20 0.14 0.88 0.88
WK12-05 34.56 34.73 0.17 0.65 (ii) 0.65
WK12-05 36.00 36.18 0.18 3.83 3.79 3.81
WK12-05 37.25 37.40 0.15 0.55 0.72 0.63
WK12-05 37.63 37.90 0.27 0.88 1.82 1.35
WK12-05 46.16 46.31 0.15 7.40 8.34 7.87
WK12-05 46.75 46.87 0.12 3.51 4.94 4.22
WK12-05 105.11 105.32 0.21 1.95 1.95
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WK12-06 38.20 38.46 0.26 1.54 1.55 1.54
WK12-06 41.20 41.38 0.18 3.02 3.50 3.26
WK12-06 41.56 42.00 0.44 0.50 0.57 0.53
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WK12-06 91.85 92.00 0.15 0.75 (ii) 0.75
WK12-06 96.10 96.25 0.15 0.66 0.66
WK12-06 104.40 104.56 0.16 0.56 (ii) 0.56
WK12-06 107.25 107.36 0.11 0.52 (ii) 0.52
WK12-06 124.30 124.65 0.35 3.53 3.53
WK12-06 124.65 125.00 0.35 24.04 27.73 25.89
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WK12-07 97.20 97.40 0.20 0.93 0.93
WK12-07 105.30 105.80 0.50 0.30 0.30
WK12-07 105.80 106.00 0.20 0.30 0.30
WK12-07 106.00 115.00 9.00 2.35(iii)
Above Interval includes:
WK12-07 106.00 106.30 0.30 35.78 46.75 41.26
WK12-07 106.30 106.60 0.30 2.55 2.55
WK12-07 110.90 111.30 0.40 6.02 6.07 6.04
WK12-07 111.30 111.60 0.30 1.71 1.71
WK12-07 114.75 115.00 0.25 5.41 34.93 20.17
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WK12-08 107.60 108.06 0.46 0.67 0.67
WK12-08 108.06 108.30 0.24 1.55 2.25 1.89
WK12-08 165.85 169.35 3.50 4.45(iii)
Above Interval includes:
WK12-08 165.85 166.35 0.5 4.44 4.55 4.49
WK12-08 166.35 166.85 0.5 4.74 4.74
WK12-08 166.85 167.35 0.5 8.12 9.30 8.71
WK12-08 167.35 167.85 0.5 6.95 6.95
WK12-08 167.85 168.35 0.5 2.84 2.87 2.85
WK12-08 168.35 168.85 0.5 1.00 1.01 1.01
WK12-08 168.85 169.35 0.5 0.81 0.81
WK12-08 194.46 194.68 0.22 1.80 (ii) 1.80
WK12-08 211.40 211.60 0.2 0.80 0.80
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WK12-09 35.00 35.20 0.2 0.50 0.50
WK12-09 41.87 42.07 0.2 0.13 0.13
WK12-09 42.07 42.60 0.53 45.11(iii)
Above Interval includes:
WK12-09 42.07 42.27 0.2 14.47 12.50 13.49
WK12-09 42.27 42.60 0.33 57.76 70.78 64.27
WK12-09 48.30 48.61 0.31 1.50 1.50
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WK12-10 35.10 35.30 0.2 1.83 1.80 1.81
WK12-10 38.87 49.89 11.02 1.18(iii)
Above Interval includes:
WK12-10 38.87 39.09 0.22 21.12 24.82 22.97
WK12-10 41.40 41.60 0.2 1.24 1.40 1.32
WK12-10 44.65 45.24 0.59 0.57 0.61 0.59
WK12-10 49.63 49.89 0.26 27.86 29.74 28.30
WK12-10 51.00 51.65 0.65 0.49 0.49
WK12-10 51.65 52.30 0.65 0.48 0.48
WK12-10 52.30 52.67 0.37 0.44 0.44
WK12-10 52.67 52.93 0.26 18.40 21.60 20.00
WK12-10 77.87 78.10 0.23 0.99 (ii) 0.99
WK12-10 79.17 79.40 0.23 12.60 14.53 13.57
WK12-10 79.40 79.65 0.25 1.49 1.80 1.64
WK12-10 79.90 80.20 0.3 1.74 1.76 1.75
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WK12-11 20.47 20.68 0.21 4.19 4.19
WK12-11 78.17 78.37 0.2 6.20 (ii) 6.20
WK12-11 106.55 106.80 0.25 2.05 2.03 2.04
WK12-11 133.48 133.70 0.22 1.51 1.58 1.55
WK12-11 159.65 159.85 0.2 2.00 2.00
(i) True width has not been determined at this time
(ii) Average value from duplicate analysis in lab on same pulp
(iii) Weighted Average Value over the interval indicated
gpt Grams per metric tonne
Table 2: Location and orientation of 2012 drill holes.
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East_NAD83 North_NAD83 Orientation
Hole ID z21 z21 Az. Inclination Length m
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WK12-01 548251 5496722 165 -50 260
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WK12-02 547510 5496621 30 -45 263
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WK12-03 548129 5496690 165 -50 227
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WK12-04 547467 5496738 30 -45 232
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WK12-05 547670 5496679 30 -45 257
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WK12-06 547555 5496686 30 -45 191
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WK12-07 547442 5496880 0 -45 229
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WK12-08 547442 5496880 210 -45 235
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WK12-09 547329 5496865 0 -45 196
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WK12-10 547266 5496855 5 -45 172
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WK12-11 547719 5496590 30 -45 319
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WK12-01 548251 5496722 165 -50 260
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Total Drill Length 2581
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This press report was prepared by Edward l. Procyshyn, P.Geo. who is the
qualified person as defined by N I43-101 and was reviewed by Joseph Feldman,
President and CEO Tawsho Mining Inc.
Tawsho Mining Inc. wished to acknowledge that a portion of the of the drilling
costs conducted during the 2011 and 2012 drilling campaigns have been defrayed
by a Junior Exploration Assistance grant from the Department of Natural
Resources, Government of Newfoundland and Labrador.
ABOUT TAWSHO MINING INC:
Tawsho is a mining exploration company focused on the acquisition, exploration
and development of gold resources and advanced stage gold exploration projects.
The Corporation is presently developing its Whisker Valley project (comprised of
764 claims, covering an area of 19,100 hectares, or 191 sq. km) and its Cabot
Property (comprised of 102 claims covering and area of 2,550Ha or25.5sq. km)
both located in Baie Verte Peninsula, Newfoundland and its Chevrier project (
comprised of 557 claims, covering an area of 9542 hectares, or 95.4 sq. km)
located in the Chibougamau region of Quebec. Tawsho currently has approximately
25.2 Million shares outstanding.
Quality Assurance/Quality Control:
Tawsho Mining Inc. is implementing the standard QA/QC protocol for its
exploration and diamond drilling of its Whisker Valley Project. NQ core size has
been used to provide adequate sample size for each sample being submitted for
analysis and if necessary to enable the possibility for undertaking additional
petrographic and step-down sampling if required. In the field, core was picked
up by one of Tawsho's designated personnel or the driller and transported to a
secure Core Shack. During logging, in addition to noting core recovery
parameters, geologic attributes including lithology, alteration, quartz veining,
presence and identification of sulfide and oxide mineralization along with other
geologic parameters normally associated with mineralization were noted and
recorded. Core intervals are marked on basis of selected geological parameters,
and those intervals showing veining or mineralogical characteristics that may be
indicative of mineralization are selected for splitting and assaying. Prior to
splitting, all core was photographed and individual sample intervals submitted
for analysis were photographed in more detail. Core splitting is done with a
diamond core saw and 1/2 of the drill core is submitted to Eastern Analytical
Laboratory in Springfield, NL. The remainder of the core is stored on the
grounds of Barker's Construction Ltd. adjacent to the Core Shack.
Conventional fire assay sample preparation consists of crushing the selected
core sample such that all the crushed material passes -10 mesh (2 mm) screen.
This crushed portion is riffle-split to produce an approx. 300 gram sample that
in turn is pulverized so that plus 95% of the sample passes 150 mesh (.075mm).
This pulverized sample constitutes the pulp sample. The unused (non-pulverized)
split portions of the -10 mesh sample are collectively returned and constitute
the reject- portion of the sample. From the pulp sample a 30 gram sample is
taken for standard fire assay for gold with AA finish. Following completion of
fire assaying, a 30 g of the pulp sample is also geochemically analyzed for
multi-elements using 4-acid digestion followed by ICP analysis with OES finish
(Inductively coupled plasma optical emission spectroscopy). Samples returning
gold values over 1 ppm are resubmitted in the lab for fire assay with
gravimetric finish. Tawsho inserts gold standard samples, blank samples and
duplicate samples into the sample stream at a rate approximating 10% of total
number of original samples. Occasional check analyses are conducted by
resubmitting the crushed reject as a separate duplicate sample to Eastern
Laboratory.
For those samples having high gold values (usually greater than 2ppm or for
which visible gold has been observed), the sample rejects were resubmitted for
duplicate analysis. The reject portion was completely pulverized and screened.
The total plus 150 mesh sample and 30 grams of the minus 150 mesh sample are
analyzed separately by fire assay with gravimetric finish and the results weight
averaged.
The samples are normally transported by a Tawsho employee from the Property to
the analytical laboratory. Chain of custody protocols require signatures and the
maintenance of logs and receipts each time the samples are picked up from or
delivered to a new location. When utilizing commercial transportation, all
shipping sacks are sealed with a numbered tag, the removal of which is recorded
upon receipt by Eastern Analytical Laboratory Inc.
Forward-looking statements provide an opinion as to the effect of certain events
and trends on the business. Certain statements contained in this news release
constitute forward looking statements. The use of any words such as
"anticipate", "continue", "estimate", "expect", "may", "will", "project",
"should", "believe" and similar expressions are intended to identify
forward-looking statements. These forward- looking statements are based on
current expectations and various estimates, factors and assumptions and involve
known and unknown risks, uncertainties and other factors. Forward-looking
information includes, but is not limited to, statements with respect to the
development potential of the Corporation's properties; the estimation of mineral
reserves and mineral resources; conclusions of economic evaluation; the
realization of mineral reserve estimates; success of exploration activities;
mining or processing issues; government regulation of mining operations; and
environmental risks. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made. Readers are
cautioned not to place undue reliance on these statements as the Corporation's
actual results, performance, or achievements may differ materially from any
future results, performance or achievements expressed or implied by such
forward-looking statements if known or unknown risks, uncertainties or other
factors affect the Corporation's business, or if the Corporation's estimates or
assumptions prove inaccurate. Therefore, the Corporation cannot provide any
assurance that forward-looking statements will materialize. The Corporation
assumes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or any other reason except
as required by applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tawsho Mining Inc.
Mr. Joseph Feldman
President and CEO
416 464-4793
josephfeldman@tawshomining.com
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