VANCOUVER, British Columbia,
June 12, 2012 /PRNewswire/
-- TNR Gold Corp. (the "Company") (TSX
VENTURE:TNR.V) is pleased to provide an update on the planned
exploration program at its Shotgun property in Alaska. The program will commence immediately
and will include an estimated 1500m of drilling at Shotgun Ridge
prior to a resource calculation updating the historical
estimate. 3D geophysical surveys are also planned for Shotgun
Ridge and other areas within the property where there are
extensive, but currently unexplained geochemical gold
anomalies.
In addition to returning 210.5m gold grades averaging 1.29 g/t,
including 27.4 m of 2.3 g/t Au, drill hole 06-43 significantly
changed the Company's understanding of structural control at
Shotgun Ridge and demonstrated that mineralization is still open at
depth (Technical Report on the Shotgun-Winchester Project,
SW Alaska, 2008). Following
exploration at other prospects on the Property, the Company
returned to Shotgun Ridge in 2011 to conduct a geophysical
orientation survey across the area containing the drilling and
historical resource. 3D resistivity and chargeability results
show previously unknown structures within the ridge that appear to
correlate well with geology and mineralization identified in
drilling. The current program will use the 3D geophysical
results to assist targeting mineralization to depth along southwest
dipping feeder zones identified in hole 06-43. (Further details on
the project can be found on our website at
www.tnrgoldcorp.com/i/pdf/TNR_Shotgun_MAY2012_Public.pdf)
"Drill hole 06-43 has clearly been the most encouraging hole at
Shotgun Ridge. We are optimistic that the current drilling
program will continue to increase this mineralized zone at depth
which will be reflected in the subsequent resource estimate"
comments John Harrop, VP
Exploration
About the Shotgun Gold Project
TNR holds a 100% interest in the Shotgun property located 175
kilometres south of Donlin Creek within the Kuskokwim Gold Belt in
southwestern Alaska. This area is
emerging as a world-class gold district hosting more than 40
million ounces of aggregated gold resources. The Shotgun property
includes a number of prospects, including Shotgun Ridge and nearby
Winchester. Donlin is an intrusion-associated system and represents
one of the largest undeveloped gold deposits in the world. The
Company believes that there are several key similarities between
prospects on the Shotgun property and that of the Donlin Creek gold
deposit as well as other important intrusion-associated
deposits.
Previous work at Shotgun Ridge by NovaGold Resources Inc. in
1998 estimated an historical resource of 980,000 ounces grading
0.93 grams per tonne (g/t) at a cut-off of 0.5 g/t (This estimate
was made prior to NI43-101 and has not been verified by a QP.
It is provided for historical information and should not be relied
upon).
John Harrop, P.Geo, is the
company's qualified person on the project as required under NI
43-101 and has reviewed the technical information contained in this
press release.
Further to the Company's news release dated May 31, 2012, the TSX Venture Exchange has
accepted for filing a loan agreement dated May 29, 2012 for $3.5
million .
About TNR Gold Corp.
Over the past twenty-one years TNR, through its lead generator
business model, has been successful in generating high quality
exploration projects around the globe. With the Company's
expertise, resources and industry network, it is well positioned to
aggressively identify, source, explore, partner and continue to
expand its project portfolio.
TNR's recently listed subsidiary, International Lithium Corp.
(TSX:ILC.V), demonstrated the successful application of TNR's
business model in which TNR shareholders benefited from a unit
distribution upon spin-out of TNR's lithium and rare metals
projects. TNR remains a large shareholder in ILC at 25.5% of
outstanding shares.
At its core, TNR provides significant exposure to gold and
copper through its holdings in Alaska and Argentina; and teamed with the recent
acquisitions of rare-earth elements and iron ore projects in
Canada confirm TNR's commitment to
continued generation of in-demand projects, while diversifying its
markets and building shareholder value.
On behalf of the board,
Gary Schellenberg
President
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. Statements in this press release other
than purely historical information, historical estimates should not
be relied upon, including statements relating to the Company's
future plans and objectives or expected results, are
forward-looking statements. News release contains certain
"Forward-Looking Statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended.
Forward-looking statements are based on numerous assumptions and
are subject to all of the risks and uncertainties inherent in the
Company's business, including risks inherent in resource
exploration and development. As a result, actual results may vary
materially from those described in the forward-looking
statements.
620 - 650 West Georgia Street
Vancouver, British Columbia
V6B 4N9, Canada
Voice: (604) 687-7551
Fax: (604) 687-4670
1-800-667-4470
E-mail: info@tnrgoldcorp.com
Website: http://www.tnrgoldcorp.com
Symbol: TNR:TSXV
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
SOURCE TNR Gold Corp.
