and here it is December 07, 2006
2006 Drilling at San Francisco Gold Project Confirms Project Potential
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Timmins Gold Corp. (the "Company") reports the results of its 2006 core and reverse circulation drilling on its San Francisco gold project, a past-producing, open pit deposit located in northern Sonora, Mexico.
Analytical and assay results from 57 of the 59 holes comprising the 2006 drill program have now been received, including hole TFD-27, located directly to the west of the San Francisco pit, which returned a 110.75 metre interval averaging 3.078 grams per tonne (g/t) gold, including 8.05 metres of 26.25 g/t gold.
The 2006 program, totaling 4,215 metres of diamond and 3,095 metres of reverse circulation ("RC") drilling, was designed to confirm and expand the historical project resource estimate, in preparation for a new, NI 43-101 compliant, resource estimate. The new resource estimate will support a pre-feasibility study that is now in process.
While backlogs in the laboratory processing of drill samples delayed the receipt of assay results, the new project resource estimate and pre-feasibility study are expected to be completed early in 2007. Based upon the results of drilling, Company management believes that the results of the current drill program, at a minimum, will confirm the historical resource estimate for the deposit of 20.3 million tonnes, grading 1.05 g/t gold (683,000 ounces at a cutoff grade of 0.5 g/t).
From 1995 to 2001, the San Francisco mine produced 13,490,184 tonnes at a grade of 1.13 g/t gold for a total of 488,680 contained ounces of gold. Upon receipt of the pre-feasibility study, the Company will assess its options for resuming production from the deposit.
Detailed Drilling Results
North Extension of San Francisco Pit
Results from the 2006 drill program have confirmed the continuation of several, near surface, north-west striking, mineralized lenses, previously identified in the San Francisco pit. In addition, the drilling identified several other mineralized lenses at depth, extended the length along strike of the mineralized zone from the north edge of the pit by approximately 160 metres, and confirmed the width of the zone at approximately 80 metres. The mineralized zone remains open along strike and at depth. These results are expected to increase the total project mineral resources beyond the historical estimate. See San Francisco Drilling Location Map.