Full news releaseRepost off stockwatch.Sicnificant results that are totally misunderstood.TNR is a total outright buy.
TNR Gold Corp
Symbol TNR
Shares Issued 34,827,888
Close 2006-05-23 C$ 0.24
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TNR JV cuts 1.62% Cu over 221 m at Los Azules
2006-05-24 13:28 ET - News Release
Mr. Gary Schellenberg reports
DRILL PROGRAM RESULTS FROM LOS AZULES PROPERTY
TNR Gold Corp. has provided drill results from its Los Azules property in Argentina. Minera Andes Inc., the project operator, has discovered significant high-grade copper on the Los Azules property. An 11-hole drill program returned intervals up to 1.62 per cent copper over 221 metres and 1 per cent copper over 173 metres in separate holes. The new core drilling focused on the previously defined enriched copper target in an area approximately 2,500 metres by as much as 1,500 metres, defined by prior drilling. Drilling tested mineralization on both TNR's property, as well as Minera Andes's adjacent lands. TNR's Los Azules property consists of 20,000 acres located in El Indio gold belt.
TNR owns 100 per cent of the Los Azules project. TNR has an agreement with Xstrata Copper PLC giving Xstrata an option to earn up to 100 per cent of this project, with TNR retaining a back-in right of 25 per cent and a 2 per cent net smelter return (NSR) royalty. Minera Andes has made an agreement with Xstrata that gives Minera Andes the right to earn up to 100 per cent of Xstrata's option.
SIGNIFICANT 2006 DRILLING RESULTS AT TNR'S LOS AZULES PROPERTY
Drill hole Total depth From To Interval Total copper
(m) (m) (m) (m) (%)
AZ-06-11 (core) 270.70 158.70 270.70 158.70 0.51
AZ-06-17 (core) 183.50 66.00 183.50 117.65 0.63
Includes 66.00 124.00 58.00 0.84
AZ-06-19 (core) 299.40 78.25 299.40 221.15 1.62
Includes 78.25 116.00 37.75 2.22
Includes 134.00 146.00 12.00 3.94
AZ-06-20 (core) 253.30 80.00 253.30 173.30 1.00
Includes 80.00 98.00 18.00 1.69
Includes 98.00 182.00 84.00 1.12
According to Minera Andes management, identification of a large copper target is under way that is near surface and high grade. Eleven reconnaissance core holes totalling 3,426 metres were drilled on both TNR's property, as well as Minera Andes's adjacent lands in the current program to depths of between 133 metres to 316 metres. The primary focus of the drilling was to test the grade and continuity of potentially leachable (chalcocite) copper mineralization identified in prior drill campaigns. Drilling at Los Azules continues to encounter features typical of many porphyry copper systems. In the discovery zone, strongly leached cap rock extends from the subcrop to as much as 161 metres beneath the surface followed by an enriched zone of secondary copper mineralization (chalcocite) overlying a zone of mixed secondary and primary (chalcopyrite) copper mineralization.
This news release has been prepared under the supervision of John Harrop, PGeo, TNR's qualified person on this news release.
We seek Safe Harbor.