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Message: Timmins Tequila Mine Drill Results
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Timmins Gold Intersects 11.64 g/t Gold Across 2 Meters, 6.17 g/t Gold Across 3 Meters, and 4.43 g/t Gold Across 4 Meters in Separate Drill Holes at Tequila Project
Tuesday December 16, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 16, 2008 -- Timmins Gold (CDNX:TMM.V - News) announces the assay results of an 18 hole, 3,829 meter diamond drill program at its Tequila Project in the state of Jalisco, Mexico. Highlights of the program include Hole BD-1, (results previously announced), that intersected 5.88 g/t gold across 24.3 metres and Hole BD-2, located 50 metres along strike and 50 meters up dip from BD-1 along the Veta Grande Vein system, that returned 2.36 g/t gold across 13 metres. Five of the holes confirmed the continuity of the Veta Grande Vein over 350 meters of strike length. Other significant intersections include 5.6 g/t gold across 1.5 meters in Hole BD-6, 1.82 g/t gold across 23.35 meters, including 11.64 g/t gold across 2 meters in Hole BD-7, 6.17 g/t gold across 3 metres in Hole BD-9 and 4.43 g/t gold across 4 metres in Hole BD-18. Complete assay and analytical results from the above holes are shown in the table below.
Seventeen of the eighteen holes were focused on testing the down dip continuity of the Veta Grande epithermal vein system that developed within a dilation zone, created by the intersection of two regional fault systems. The NE-SW trending system allowed the formation of a belt of gold occurrences that outcrop along 600+ meters of strike, varying from 0.50 to 15 meters in width. The intersecting NW-SE trending system provided a favorable environment for the emplacement of a system of veins varying from 0.50 to 2 meters in width. The Veta Grande vein is the principal mineralized structure, consisting of an auriferous structural "loop" with several minor splits. The mineralization identified at the Tequila Project is consistent with that of a low sulphidation, "hotspring" type epithermal deposit model characterized by colloidal quartz, advanced argillic alteration and depleted sulphide mineralogy (i.e. pyrite). The gold mineralization is hosted within a quartz stockwork system formed within a brecciated zone of micro veins and veinlets up to 1 meter wide.
Summary of Significant Assay Results for the 2008 Drilling
Program Tequila Project
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Drill
Hole
Drill Cross- Mineralization Assay
Hole Section Interval (m) Results Comments
------------------------------------
Core Au Ag
From To Length (g/t) (g/t)
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Veta Grande
BD-1 S-2 23.00 40.00 17.00 1.234 7.6 vein system
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includes 23.00 31.00 8.00 1.764 10.1
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includes 27.00 29.00 2.00 4.370 27.0
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and 94.50 126.80 32.30 4.834 29.0
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Veta Grande vein
includes 94.50 98.50 4.00 5.660 39.4 system Ore-shoot 1
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includes 96.50 98.50 2.00 10.670 69.0
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Veta Grande vein
103.50 109.05 5.55 15.143 8.1 system Ore shoot 2
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or 107.50 109.05 1.55 40.400 229.1
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109.05 111.80 2.75 No Core (existing adit)
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113.80 118.80 5.00 6.490 40.9
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Veta Grande
BD-2 S-2 21.00 43.00 22.00 1.579 6.3 vein system
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includes 22.00 23.20 1.20 2.400 -
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Ore-shoot 1
includes 31.00 44.00 13.00 2.361 - Veta Grande vein
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includes 34.00 36.00 2.00 3.390 -
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includes 40.00 41.00 1.00 3.430 -
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and 49.00 50.00 1.00 0.694 8.1
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BD-6 30.50 31.50 1.00 0.926 0.7 This hole was
and 136.00 137.50 1.50 5.640 11.1 focused on
exploring the
continuity of
the high grade
gold in the
existing
underground
workings of
the Guadalupe
vein. Hole BD-06
intersected two
intervals that
could correspond
to the projection
at depth of this
mineral structure
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Veta Grande
BD-7 S-2 22.00 45.35 23.35 1.820 9.1 vein system
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includes 25.25 28.35 3.10 3.074 N/A
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includes 43.35 45.35 2.00 11.642 N/A
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Mineralization
within the Veta
BD-9 S-6 22.00 23.00 1.00 0.890 0.5 Grande vein system
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and 37.00 38.00 1.00 2.370 20.6
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and 75.00 78.00 3.00 6.176 31.8
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and 104.50 110.50 6.00 1.430 25.3
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Mineralized
intersections
within the
projection
of the mineral
BD-18 S-3 27.00 30.00 3.00 0.631 1.0 trend to the SW
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and 48.00 56.00 8.00 0.511 1.5
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and 85.00 86.00 1.00 0.738 5.6
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and 96.00 100.00 4.00 4.430 48.1
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Drilling to date has tested only 1/3 of the known strike length of the mineralized system. Of the 18 holes completed, 14 returned economic gold grades over appreciable widths. Five of the holes confirmed the continuity of the Veta Grande Vein over 350 meters of strike length. The Company is currently reviewing the data from the drill program to assess future exploration activity.
Qualified Person
Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Executive Vice-President and CFO of Timmins Gold Corp. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Timmins Gold Corp. employees and contractors.
We seek Safe Harbor.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
Timmins Gold Corp.
Bruce Bragagnolo, LLB
CEO
(604) 638-8980
Email: bruce@timminsgold.com
Timmins Gold Corp.
Darcy Krohman, P.Geo., C.A.
Executive Vice-President & CFO
(604) 638-8971
Email: darcy@timminsgold.com
Timmins Gold Corp. - Investor Relations
Leighton Bocking
Corporate Development
(604) 638-8977
Email: leighton@timminsgold.com
Timmins Gold Corp. - Investor Relations
Alex Tsakumis, BA
Corporate Development
(604) 638-8976
Email: alex@timminsgold.com
Website: http://www.timminsgold.com
Source: Timmins Gold Corp.
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