Tintina Files Technical Report for Sheep Creek Project, Montana, USA
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/30/11 -- Tintina Resources Inc. ('Tintina' or the 'Company') (TSX VENTURE: TAU)(OTCQX: TINTF) is pleased to announce that today it has filed a National Instrument 43-101 compliant technical report (the 'Technical Report') for its Sheep Creek Copper-Cobalt-Silver-Gold property located in central Montana. The report, entitled 'Sheep Creek Project, Meagher County, MT, September 2011 Mineral Resource Update' and dated September 30, 2011, is available on the Company's SEDAR profile at www.sedar.com.
The report discloses the following undiluted Sheep Creek property inferred resource for the Upper Copper Zone (UCZ) and the Lower Copper Zone (LCZ) using a 1.5% Cu cutoff:
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Tonnes Cu Lbs Co Lbs Ag Ozs
Zone (000) Cu (%) Co (%) Ag (g/t) (millions) (millions) (millions)
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UCZ 7,037 2.36 0.12 12.3 366 19 2.8
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LCZ 2,462 4.71 0.06 5.1 256 3 0.4
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Total 9,499 2.97 0.10 10.4 622 22 3.2
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The cutoff grade was established by using a copper price of US$2.75 per pound, a copper recovery of 84%, mining costs of US$50/tonne, processing costs of US$16.00/tonne, G&A costs of US$5.00/tonne and refining costs of US$5.53/tonne. Readers are encouraged to read the technical report in its entirety. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. Inferred Mineral Resources have a high degree of uncertainty as to their existence, and a great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Resource will ever be upgraded to a higher category.
There are no material differences between the mineral resources disclosed on August 17, 2011 and the mineral resources described in the Technical Report.
Jerry Zieg, Vice President of Exploration for the Company, is a Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the scientific and technical information in this news release.
About Tintina
Tintina Resources Inc. is a growth company focused on the exploration and development of base and precious metal properties around the world. The Company's experienced Board of Directors and Management Team are focused on advancing the Sheep Creek Cu-Co-Ag property in Montana towards a production decision. The Company is also exploring an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project located in southwest Alaska in the same region as the 40 million ounce Donlin Creek project.
About Sheep Creek
The Sheep Creek deposit is located approximately 17 miles north of White Sulphur Springs within two miles of U.S. Highway 89 along a well-maintained gravel road. The Sheep Creek property consists of approximately 12,225 acres of fee simple lands and mining claims in central Montana. The property contains sediment- hosted zones of massive sulfide mineralization originally explored by Cominco American Inc. and BHP during the 1980's and early 1990's. Historical drilling encountered significant zones of strata-bound copper sulfide with associated cobalt and silver mineralization in multiple, bedded massive pyrite horizons in the lower part of the Precambrian Belt Supergroup. This same stratigraphic unit hosts the famous Sullivan zinc-lead-silver deposit in southeastern B.C. In a short period of time the Company has been able to establish Inferred Resources on the Upper & Lower Copper Zones at Strawberry Butte (please see Company News Releases dated January 6, 2011 & August 17, 2011). The Company continues to evaluate several tabular mineralized zones along a four kilometer strike length. The Company has two drill rigs on site and will continue drilling over the course of 2011.
Tintina is preparing an advanced underground exploration proposal which includes an evaluation decline and ancillary facilities, all located on private land in Meagher County, for presentation to the State's appropriate authorities.
About Mining in Montana
Montana has been known as a mining state for a well over 100 years. Today, more than two dozen mining operations are active making mining a cornerstone contributor to the State's GDP. Tintina has met with State regulators and looks forward to presenting the Sheep Creek project, as an underground mine with a small footprint located on private land. The project continues to benefit from broad local community support.
ON BEHALF OF THE BOARD OF DIRECTORS
Louis A. Lepry, Jr., President and CEO
This news release contains forward-looking statements including statements regarding a resource estimate for the Company's Sheep Creek property. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company, including that the key assumptions and parameters on which such resource estimate are based are reasonable. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that data and assumptions underlying the resource estimate may prove to be inaccurate, incomplete or to have been incorrectly interpreted and the general risk of unexpected variations in mineral resources and grade or recovery rates. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Tintina Resources Inc.
Philippe Van Nieuwenhuyse
Investor Relations
604-628-1162 ext. 236
604-628-1163 (FAX)
philvann@tintinaresources.com
www.tintinaresources.com