Mr. Michael Willett reports
TAMERLANE ANNOUNCES RESOURCES FOR N-204 DEPOSIT
Tamerlane Ventures Inc. has provided the block model mineral inventory forthe N-204 zinc-lead deposit located at the Company's Pine Point Project in theNorthwest Territories, Canada. This mineral inventory includes 16,445,000 tonnesat a grade of 3.71% lead zinc combined; 2.93% zinc and 0.78% lead at a cutoffgrade of 1.7% combined zinc+lead. Over 70% of this material is contained withina potentially economic pit shell.
The NI 43-101 compliant mineral resources contained within the potentiallyeconomic pit shell are as follows:
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Category Tonnes Pb+Zn % Pb % Zn %
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Indicated 9,166,000 4.33 0.92 3.42
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Inferred 2,413,000 3.90 0.86 3.04
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Notes:
1. Mineral Resources are not Mineral Reserves and do not have demonstrated
economic viability. There is no certainty that all or part of the
Mineral Resources estimated will be converted to Mineral Reserves.
2. The Whittle analysis used operating costs and metal recoveries from
standard industry sources and from the NI 43-101 Technical Report Update
prepared for Tamerlane by the consulting firm of Pincock, Allen & Holt,
dated July 30, 2008.
Mineral resources are reported from a pit shell created in the Whittle(R)(4.3) software using the following parameters: a cutoff grade of 1.7% combinedzinc+lead; metallurgical recoveries of 89.5% zinc, 83.7% lead and metal pricesof US$1.10 per pound for zinc and for lead. Resources are constrained to theUpper and Main mineralized zones and to an optimized Whittle(R) pit shell. TheWhittle(R) analysis is based on the Company's block model developed in theVulcan(R) (8.0) software. These indicated and inferred resources are inclusivewithin the block model mineral inventory cited above.
The resource estimate was prepared by Pincock, Allen & Holt (PAH) andincorporates 23 new drill holes totaling 1,433 meters. These holes werecompleted in 2010 to confirm the historic drilling on the N-204 deposit, whichconsisted of 464 holes totaling 27,309 meters. Selected core holes were alsoexamined by Pincock Allen & Holt to confirm style, magnitude and continuityof mineralization. Check assays were completed at Acme Analytical LaboratoriesLtd. in Vancouver for 13% of the total assay samples generated by Tamerlaneduring the confirmation drilling program.
The Mineral Resources are reported in accordance with Canadian NationalInstrument 43-101 (NI 43-101) and have been estimated in conformity with thegenerally accepted, "Estimation of Mineral Resource and Mineral Reserves BestPractices guidelines of the Canadian Institute of Mining, Metallurgy andPetroleum."
The N-204 deposit is an extensive, 1,600 by 1,300 meter, flat lying depositoccurring within the B-Spongy facies of the Pine Point Formation wheresphalerite and galena mineralization fills or coats fossil moldic vugs andfractures in dolomite. Base metal mineralization occurs predominantly in theMain Zone, which is stratigraphically below the Upper Zone where mineralizationis lower grade and less extensive. Historically, the deposit was not minedbecause of low grade and the long haulage distance to the previous operator'smill. Dense media separation (DMS) for lead and zinc deposits had not beendeveloped at that time. This process allows the ore to be crushed and upgradedprior to transport to the concentrator. Tamerlane has completed preliminary DMStest work on the N-204 deposit, which indicates that run-of-mine material fromthis surface mine can be significantly upgraded using a portable DMS plant.Initial testing indicates that the DMS plant would produce a product with acombined lead-zinc grade up to approximately 10%. This upgraded product wouldthen be trucked to the process plant at the R-190 deposit for concentrateproduction. The dense media reject material would be backfilled in the pit.
Tamerlane CEO, Mike Willett said, "We're very happy with the confirmation ofN-204's mineral resources that amount to in-the-ground contained lead and zincmetal of approximately 852 million pounds of zinc and 232 million pounds oflead. The next steps in the development of the N-204 deposit will include a fullfeasibility study including a definitive mine plan, fill-in drilling wherenecessary and further dense media testing to maximize the DMS process. Flotationlock cycle tests will also be completed using the same process that was used forthe six zinc-lead deposits containing the current Pine Point reserves."
To date, Tamerlane has reported the following NI 43-101 compliant reservesand mineral resources for other deposits contained in its Pine Point Projectarea.
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Area Category Tonnes Pb % Zn %
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R-190 Area(i) Proven + Probable 7,790,000 3.01 6.16
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Measured + Indicated 8,030,000 1.13 2.26
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N-204 Indicated 9,166,000 0.92 3.42
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Inferred 2,413,000 0.86 3.04
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(i) The R-190 Area includes the following individual deposits: O-556, P-499,
R-190, X-25, Z-155 and GO3 which will be mined utilizing underground mining
methods. For detailed information see "NI 43-101 Technical Report Update,
Pine Point Project, Northwest Territories, Canada, July 30, 2008" prepared
by Pincock, Allen & Holt, which is available on www.sedar.com.
In addition the property hosts non NI 43-101 compliant historical resourcestotaling approximately 34,221,000 tonnes at grades of 1.4 %Pb and 4.4 %Zn.
The technical information in this press release was prepared by Mr. WolfgangA. Schleiss, M.Sc., P.Geo. and Ross F. Burns, P.Geo., LG. Mr. Schleiss isdesignated as a Qualified Person with the ability and authority to verify theauthenticity and validity of the data.
The historical estimates contained in this news release are not in accordancewith the mineral resources or mineral reserves classifications contained in theCIM Definition Standards on Mineral Resources and Mineral Reserves, as requiredby National Instrument 43-101 ("NI 43-101"). Accordingly, the Company is nottreating these historical estimates as current mineral resources or mineralreserves as defined in NI 43-101 and such historical estimates should not berelied upon. A Qualified Person has not done sufficient work to date to classifythe historical estimates as current mineral resources or mineral reserves.
We seek Safe Harbor.