Tournigan Discovers New High Grade Uranium, Confirms Historical Data at Novoveska Huta, Slovakia
Market Wire, June, 2008
Tournigan Energy Ltd. (TSX-V: TVC) (FRANKFURT: TGP) today reported drill results taken from 12 diamond drill holes totaling 5,540 metres on its Novoveska Huta uranium deposit in Eastern Slovakia. The holes, drilled to depths of between 200 to 657 metres, were designed to twin historical holes as well as explore the deposit to the east and provide structural analysis of the deposit.
The company continues to intercept significant thicknesses and uranium grades on the deposit which confirms historical data and extends the resource. Notably, new high grade material, including 7.6 metres of 0.399 %eU308, was discovered in hole LH-NH-4, approximately 600 metres east of the historical underground workings. Additional mineralization was also intersected in LH-NH-11 a further 175 metres east of LH-NH-4.
Highlights from the downhole radiometric logging include:
-------------------------------------------- Hole From To Length eU3O8% -------------------------------------------- LH-NH-4 494.2 501.8 7.6 0.399 -------------------------------------------- including 494.3 497.3 3.0 0.791 -------------------------------------------- LH-NH-13 287.4 326.1 38.7 0.132 -------------------------------------------- including 289.9 294.4 4.5 0.241 -------------------------------------------- including 296.9 305.3 8.4 0.220 -------------------------------------------- LH-NH-11 605.3 618.5 13.2 0.158 -------------------------------------------- including 605.3 614.3 9.0 0.194 -------------------------------------------- including 609.6 611.7 2.1 0.299 -------------------------------------------- LH-NH-8 359.9 371.1 11.2 0.107 -------------------------------------------- including 362.4 366.3 3.9 0.201 -------------------------------------------- LH-NH-1 360.3 365.2 4.9 0.115 -------------------------------------------- LH-NH-1 374.9 380.5 5.6 0.161 -------------------------------------------- LH-NH-9 386.1 395.4 9.3 0.103
Details of the 12-hole program are listed in Appendix A or may be viewed on Tournigan's web site: http://www.tournigan.com/i/pdf/2008-06-11_NR-Appendix-A.pdf . A plan map detailing hole locations and previous underground workings may be viewed from the link below: http://www.tournigan.com/i/maps/2008-06-11_NRM.jpg .
"This drill campaign has confirmed and in many cases improved upon the results from historic drilling," said Tournigan President, James Walchuck. "We are especially encouraged by the new higher grade mineralization found further to the east of the historical deposit."
Previous work on the property included 5.5 km of underground development and test workings on five vertical levels and 43 deep-drill holes which were the source for a historical estimate by Uranpres s.r.o. in 2005. The historical resource estimate at Novoveska Huta reported 19,970,000 pounds of uranium contained in 12 million tonnes at an average grade of 0.075% U3O8 (cutoff grade 0.015% U308). *
Tournigan will analyze the data from 662 chip samples, the historic drill holes and its own drill campaign to build an updated resource model on the deposit, which will provide the basis for a NI 43-101 estimate by fourth quarter, 2008.
The drill results reported are from one hole drilled in 2006, nine drilled in 2007 and two in 2008. Two holes did not encounter significant mineralization. Hole LH-NH-5 was drilled to verify mineralization in the tectonic zone and Hole LH-NH-6 was drilled to verify continuity of deposit to the west. Tournigan is now focusing on exploring the deposit to the east of the previous workings.
The uranium grades referred to above are reported as equivalent uranium (eU3O8) as determined by downhole radiometric logging equipment. The logging was performed by Koral, s.r.o. of Slovakia. Quality control and quality assurance is being provided by Ravi Sharma, Tournigan's Manager Resources and Reserves.
Joseph Ringwald PEng., Tournigan's VP Sustainable Development, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained herein.
On behalf of the Board of Directors of TOURNIGAN ENERGY LTD. "James Walchuck" James Walchuck, President and CEO
* The Company has reviewed the above historical resource estimates and views them relevant. The Company believes that the historical resource estimates are reliable based on the historic exploitation of Slovak deposits in general and metallurgical test records acquired with the Company's deposits in particular. The above Slovak Resource Category is a combination of P and Z-3, which is roughly analogous to the Canadian Institute of Mining, Metallurgy and Petroleum's definition for Inferred Resources. The Company has not, however, done the work necessary to verify the classification of the resources and the resources are not classified according to CIM's Standards on Mineral Resources and Reserves Definitions. Investors are cautioned not to rely upon these estimates. Uranium metal (U) grades were converted to uranium oxide (U3O8) grades using a factor of 1.17924.
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