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TSX VENTURE SYMBOL: TVC
FRANKFURT SYMBOL: TGP
FEBRUARY 16, 2004 - 07:00 ET
Tournigan Gold Corporation: High-Grade Gold Intersects
at Curraghinalt
VANCOUVER, BRITISH COLUMBIA--Tournigan Gold Corporation
("Tournigan") has intersected an exceptional ore-shoot of
high-grade gold mineralization in two diamond drill holes during
recent feasibility drilling on the Curraghinalt gold project in
Northern Ireland. Drillhole CT-13 returned assay values of 68.07
grams of gold per tonne (g/t) over 3.43 metres, including 183.23
g/t gold over 1.26 metres, and CT-14 returned 42.66 g/t over 4.06
metres, including 103.22 g/t gold over 1.55 metres. In addition,
CT-12 included an intercept of 57.16 g/t gold over 1.92 metres in
an adjacent ore-shoot. These intercepts are at shallow depths and
the ore-shoots are interpreted as open-ended to depth. This high
grade area is easily accessible for initial mining and resultant
fast payback potential.
These drill holes form part of Tournigan's ongoing feasibility
infill drilling at Curraghinalt, designed to advance the project
towards a feasibility study and production. Results are
summarized as follows:
/T/
--------------------------------------------------
Grams
Drill Hole From - to Length per tonne Vein
(metres) (metres) gold
--------------------------------------------------
CT-12 20.37 - 22.29 1.92 57.16 T17C
59.59 - 60.67 1.08 13.7 T11F
144.30 - 145.63 1.33 11.4 106/16
--------------------------------------------------
CT-13 39.59 - 43.02 3.43 68.07 T17 H/W
including 39.59 - 40.85 1.26 183.23 "
--------------------------------------------------
CT-14 42.94 - 47.00 4.06 42.66 T17 H/W
including 44.69 - 47.00 2.32 71.61 "
--------------------------------------------------
Note: Previous estimates of the resource at Curraghinalt have used a
6 g/t gold cut-off grade over a minimum mining width of 1.25
metres.
/T/
The feasibility infill drilling program at Curraghinalt is
designed to intersect each of the veins at a maximum 30 metre
spacing in order to define the vein mineralization in detail and
to upgrade the classification of the Curraghinalt resource to the
"measured" category. The above results, combined with results
from drilling in progress, are expected to provide a significant
increase in the contained ounces upon completion of the
feasibility resource calculation. The ore-shoot is located
directly above an existing underground exploration drift,
providing immediate access for mining once production at
Curraghinalt is permitted. This will provide a significant early
infusion of funds for rapid repayment of capital expenditures.
The CT-13/CT-14 ore shoot is the richest yet found at
Curraghinalt, although at least one other ore-shoot of similar
grade and thickness was discovered and sampled during the
excavation of one of the exploration drifts (see Tournigan press
release July 25, 2003). Tournigan expects the discovery of
additional high-grade ore-shoots during the course of exploration
and development drilling and underground exploration and mine
development excavation. The probable repetition of these
ore-shoots throughout the Curraghinalt vein system is expected to
enhance the already robust preliminary economics of the
Curraghinalt deposit. Tournigan's emerging understanding of the
regularity and continuity of average-grade, high-grade and
bonanza ore-shoots also bodes well for future exploration along
the Curraghinalt vein system. Presently documented to extend for
at least 8 kilometres, this mineralized trend is within
Tournigan's existing prospecting licences.
Tournigan will continue feasibility drilling at Curraghinalt,
with another 6 holes currently scheduled. A review of scoping
work is almost complete; this will lead to tenders being let for
the Curraghinalt Environmental Impact Study. It is Tournigan's
goal in 2004 to rapidly advance Curraghinalt toward production.
During 2004, Tournigan also plans a significant exploration and
development program at its Kremnica gold project in the Slovak
Republic. As reported on February 11, Tournigan has increased the
Kremnica resource, which at a 1.0 g/t gold cut-off is as follows:
/T/
--------------------------------------------------
Krem- Gold Silver Gold eq.
nica Grade, Grade, Grade, Tonnes Ounces, Ounces, Ounces,
Zone (g/t) (g/t) (g/t) Gold Silver Gold eq.
--------------------------------------------------
Sturec
- Ind-
icated 2.11 15.43 2.31 5,663,941 384,231 2,809,802 421,540
Sturec
- Inf-
erred 2.01 16.06 2.22 8,367,508 540,733 4,320,487 596,968
Wolf 1.48 21.3 1.91 1,715,500 81,600 1,175,000 105,300
Vrati-
slav 3.33 24.7 3.58 595,000 64,000 472,000 73,000
--------------------------------------------------
/T/
Tournigan's Quality Assurance/Quality Control Program
Tournigan has implemented a Quality Assurance/Quality Control
(QA/QC) program as part of all geochemical sampling, sample
shipping and sample analysis procedures, for drilling, rock
sampling, and soil and stream sediment sampling programs. QA/QC
procedures include chain-of-custody protocol and systematic
submittal of blank samples and duplicate samples. Assays reported
by Tournigan represent a mix of provisional and final assays by
OMAC Laboratories in Ireland, as no significant variance has been
noted. The Qualified Person at Curraghinalt is Dr. Kent Ausburn -
see Tournigan's press release dated November 5, 2003 for further
details.
TOURNIGAN GOLD CORPORATION
Damien Reynolds, President and Chief Executive Officer
Statements in this press release other than purely historical
information, including statements relating to the Company's
future plans and objectives or expected results, constitute
forward-looking statements. Forward-looking statements are based
on numerous assumptions and are subject to all of the risks and
uncertainties inherent in the Company's business, including risks
inherent in mineral exploration and development. As a result,
actual results may vary materially from those described in the
forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tournigan Gold Corporation
Damien Reynolds
President
(604) 683-8320
or
Tournigan Gold Corporation
Garry Stock
Executive VP
(604) 683-8320
(604) 683 8340 (FAX)
Email: info@tournigan.com
Website: www.tournigan.com
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