Timmins Gold Intersects 38.10 Metres of 5.12 g/t Gold Below Existing Pit Floor of San Francisco Open Pit and 100.06 Metres of 1.00 g/t Gold in the La Chicharra Open Pit
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/01/11 -- Timmins Gold Corp. (TSX: TMM) announces that significant mineralization continues to be intersected in its ongoing July-December, 2011 drill program at the San Francisco Mine, which includes both exploration and infill drilling in and around the San Francisco and La Chicharra open pits. Results from the July-December, 2011 drill program will be incorporated in an updated NI 43-101 Technical Report in early 2012.
A total of approximately 52,000 metres of drilling, including both reverse circulation and core drilling, were completed during the months of August, 2011 and September, 2011. 24,400 metres were drilled in and around the San Francisco open pit distributed over 4 core holes and 85 holes of reverse circulation and 27,600 metres of reverse circulation in and around the La Chicharra pit distributed over 127 drill holes. The La Chicharra pit is located approximately 1.5 kilometres to the west of the San Francisco pit.
Drilling has confirmed the continuity and extensions of the mineralization, both along strike and down dip and below the existing pit floor at both the San Francisco and La Chicharra open pits. In addition, assays received from drilling completed in August and September returned some of the highest grades intercepted to date from the San Francisco pit
Hole TF-1379 which was drilled from the bottom of the San Francisco pit intersected an interval of 38.1 metres grading 5.129 g/t gold including 1.52 metres of 25.42 g/t gold, 15.24 metres of 8.347 g/t gold and ended in an interval of 1.52 metres of 77.348 g/t gold. The current pit bottom is 140 metres from surface and this interval was intersected only 30 metres below the current pit bottom.
Hole TF-1377 intercepted 80.77 metres of 0.822 g/t gold including 1.52 metres of 3.547 g/t gold, 9.14 metres of 3.456 g/t gold and 3.05 metres of 2.075 g/t gold. The hole ended in an intercept of 1.52 metres grading 52.66 g/t gold.
Highlights of selected drill holes from the San Francisco pit are as follows:
Table 1
Significant Assay Results for August and September 2011
from the San Francisco Open Pit
----------------------------------------------------------
Drill Intersections
--------------------------------
Drill True
Hole Section Width
Number Depth (m) Line From (m) To (m) (m) Au g/t
----------------------------------------------------------
TF-1375 243.84 720 W 13.72 16.76 3.05 1.567
-----------------------------------------
Includes 13.72 15.24 1.52 2.971
-----------------------------------------
and 129.54 149.35 19.81 1.378
-----------------------------------------
Includes 132.59 135.64 3.05 2.032
-----------------------------------------
Includes 138.68 140.21 1.52 3.061
----------------------------------------------------------
TF-1376 245.36 880 W 38.10 70.10 32.00 1.031
-----------------------------------------
Includes 42.67 50.29 7.62 2.249
-----------------------------------------
and 167.64 173.74 6.10 1.209
-----------------------------------------
Includes 170.69 172.21 1.52 3.208
----------------------------------------------------------
TF-1377 274.32 860W 32.00 112.78 80.77 0.822
-----------------------------------------
Includes 32.00 33.53 1.52 3.547
-----------------------------------------
Includes 42.67 51.82 9.14 3.456
-----------------------------------------
Includes 73.15 76.20 3.05 2.075
-----------------------------------------
and 118.87 120.40 1.52 1.113
-----------------------------------------
and 271.27 274.32 3.05 27.745
-----------------------------------------
Includes 272.80 274.32 1.52 55.266
----------------------------------------------------------
TF-1378 298.7 800 W 12.19 13.716 1.52 1.472
-----------------------------------------
and 62.48 91.44 28.96 1.197
-----------------------------------------
Includes 67.06 70.10 3.05 7.227
-----------------------------------------
Includes 86.87 88.39 1.52 2.277
-----------------------------------------
Includes 108.20 111.25 3.05 2.259
-----------------------------------------
and 188.98 190.5 1.52 1.135
----------------------------------------------------------
TF-1379 242.32 960W 0.00 15.24 15.24 0.714
-----------------------------------------
and 30.48 68.58 38.10 5.129
-----------------------------------------
Includes 48.77 50.29 1.52 25.422
-----------------------------------------
Includes 53.34 68.58 15.24 8.347
-----------------------------------------
Includes 65.53 67.06 1.52 77.348
----------------------------------------------------------
TF-1380 303.28 980 W 9.14 12.19 3.05 2.203
-----------------------------------------
Includes 9.14 10.67 1.52 4.246
-----------------------------------------
and 80.77 99.06 18.29 3.777
-----------------------------------------
Includes 83.82 86.87 3.05 3.266
-----------------------------------------
Includes 91.44 92.96 1.52 36.773
----------------------------------------------------------
TF-1381 304.8 1000 W 7.62 13.72 6.10 4.698
-----------------------------------------
Includes 7.62 12.19 4.57 6.185
-----------------------------------------
and 42.67 44.20 1.52 1.017
----------------------------------------------------------
TF-1382 289.56 980 W 0.00 22.86 22.86 0.896
-----------------------------------------
Includes 16.76 18.29 1.52 2.022
-----------------------------------------
and 42.67 74.68 32.00 1.036
-----------------------------------------
Includes 53.34 54.86 1.52 4.499
-----------------------------------------
Includes 60.96 68.58 7.62 1.792
----------------------------------------------------------
TF-1384 277.37 980 W 67.06 68.58 1.52 3.231
-----------------------------------------
and 88.39 89.92 1.52 1.745
-----------------------------------------
and 158.50 170.69 12.19 0.602
-----------------------------------------
Includes 169.16 170.69 1.52 2.914
----------------------------------------------------------
TF-1385 243.84 740 W 32.00 56.39 24.38 0.937
-----------------------------------------
Includes 32.00 35.05 3.05 5.592
-----------------------------------------
Includes 67.06 68.58 1.52 2.248
-----------------------------------------
Includes 137.16 138.68 1.52 5.631
----------------------------------------------------------
TF-1386 292.61 980 W 16.76 30.48 13.72 1.071
-----------------------------------------
Includes 16.76 18.29 1.52 2.351
-----------------------------------------
Includes 27.43 28.96 1.52 3.630
-----------------------------------------
and 42.67 60.96 18.29 1.769
-----------------------------------------
Includes 51.82 53.34 1.52 3.530
-----------------------------------------
Includes 56.39 59.44 3.05 8.085
-----------------------------------------
and 73.15 77.72 4.57 1.193
-----------------------------------------
and 82.30 91.44 9.14 2.010
-----------------------------------------
Includes 89.92 91.44 1.52 9.252
-----------------------------------------
and 115.82 124.97 9.14 1.153
-----------------------------------------
Includes 121.92 123.44 1.52 4.552
-----------------------------------------
and 201.17 207.26 6.10 1.143
-----------------------------------------
Includes 202.69 204.22 1.52 2.718
----------------------------------------------------------
TF-1387 249.84 760 W 50.29 53.34 3.05 2.597
-----------------------------------------
Includes 50.29 51.82 1.52 5.066
-----------------------------------------
and 173.74 181.36 7.62 1.389
-----------------------------------------
Includes 175.26 176.78 1.52 5.548
----------------------------------------------------------
TF-1388 304.8 980 W 45.72 47.24 1.52 1.277
-----------------------------------------
and 54.86 56.39 1.52 1.257
-----------------------------------------
Includes 96.01 97.54 1.52 2.817
-----------------------------------------
Includes 112.78 114.30 1.52 14.579
----------------------------------------------------------
TF-1389 237.84 780 W 50.29 103.63 53.34 0.544
-----------------------------------------
Includes 64.01 65.53 1.52 2.319
-----------------------------------------
Includes 80.77 82.30 1.52 2.694
-----------------------------------------
and 134.11 141.73 7.62 0.505
-----------------------------------------
and 175.26 176.78 1.52 1.917
-----------------------------------------
and 182.88 184.40 1.52 0.399
----------------------------------------------------------
TF-1391 246.89 820 W 30.48 33.53 3.05 2.931
-----------------------------------------
Includes 32.00 33.53 1.52 4.124
-----------------------------------------
and 39.62 82.30 42.67 1.679
-----------------------------------------
Includes 41.15 56.39 15.24 3.559
-----------------------------------------
Includes 64.01 65.53 1.52 2.293
-----------------------------------------
Includes 70.10 71.63 1.52 2.662
-----------------------------------------
and 123.44 126.49 3.05 1.228
-----------------------------------------
Includes 123.44 124.97 1.52 2.169
-----------------------------------------
Includes 155.45 156.97 1.52 2.277
----------------------------------------------------------
TF-1392 243.84 820 W 4.57 33.53 28.96 1.305
-----------------------------------------
Includes 6.10 7.62 1.52 4.546
-----------------------------------------
Includes 9.14 10.67 1.52 5.968
-----------------------------------------
and 44.20 82.30 38.10 1.110
-----------------------------------------
Includes 60.96 64.01 3.05 2.262
-----------------------------------------
Includes 70.10 71.63 1.52 3.532
-----------------------------------------
Includes 74.68 76.20 1.52 7.992
-----------------------------------------
and 108.20 118.87 10.67 0.551
-----------------------------------------
and 236.22 246.89 10.67 0.574
----------------------------------------------------------
TF-1393 243.84 700 W 48.77 51.82 3.05 1.639
-----------------------------------------
Includes 50.29 51.82 1.52 2.885
-----------------------------------------
and 91.44 92.96 1.52 3.167
-----------------------------------------
and 155.45 156.97 1.52 1.246
-----------------------------------------
and 242.32 243.84 1.52 0.882
----------------------------------------------------------
TF-1394 243.84 840 W 0.00 4.57 4.57 1.326
-----------------------------------------
and 16.76 27.43 10.67 0.890
-----------------------------------------
Includes 18.29 19.81 1.52 2.082
-----------------------------------------
and 42.67 59.44 16.76 1.550
-----------------------------------------
Includes 50.29 59.44 9.14 2.056
-----------------------------------------
and 86.87 91.44 4.57 0.723
-----------------------------------------
and 108.20 114.30 6.10 0.837
-----------------------------------------
Includes 109.73 111.25 1.52 2.109
----------------------------------------------------------
TF-1395 243.84 840W 3.05 9.14 6.10 1.131
-----------------------------------------
Includes 4.57 6.10 1.52 2.418
-----------------------------------------
and 35.05 42.67 7.62 2.913
-----------------------------------------
and 54.86 94.49 39.62 1.586
-----------------------------------------
Includes 57.91 70.10 12.19 4.278
----------------------------------------------------------
TF-1397 243.84 860 W 18.29 41.15 22.86 0.660
-----------------------------------------
Includes 21.34 22.86 1.52 2.295
-----------------------------------------
Includes 28.96 30.48 1.52 2.436
-----------------------------------------
and 51.82 70.10 18.29 1.234
-----------------------------------------
Includes 51.82 53.34 1.52 2.775
-----------------------------------------
Includes 65.53 67.06 1.52 3.068
-----------------------------------------
Includes 51.82 70.10 18.29 2.725
-----------------------------------------
and 102.11 115.82 13.72 1.708
-----------------------------------------
Includes 109.73 111.25 1.52 13.276
-----------------------------------------
and 120.40 132.59 12.19 0.565
-----------------------------------------
Includes 128.02 129.54 1.52 3.460
-----------------------------------------
and 137.16 144.78 7.62 0.839
-----------------------------------------
Includes 140.21 141.73 1.52 2.868
-----------------------------------------
and 149.35 156.97 7.62 0.605
----------------------------------------------------------
TF-1398 236.22 660 W 3.05 25.91 22.86 1.266
-----------------------------------------
Includes 3.05 4.57 1.52 3.988
-----------------------------------------
Includes 6.10 7.62 1.52 2.679
-----------------------------------------
Includes 10.67 12.19 1.52 7.069
-----------------------------------------
and 85.34 109.73 24.38 1.309
-----------------------------------------
Includes 86.87 88.39 1.52 2.374
-----------------------------------------
Includes 97.54 105.16 7.62 2.428
-----------------------------------------
and 163.07 172.21 9.14 0.757
-----------------------------------------
Includes 166.12 167.64 1.52 2.206
----------------------------------------------------------
TF-1403 310.9 500 W 92.96 106.68 13.72 3.502
-----------------------------------------
Includes 94.49 99.06 4.57 8.877
-----------------------------------------
and 115.82 124.97 9.14 2.442
-----------------------------------------
Includes 115.82 118.87 3.05 4.765
-----------------------------------------
Includes 121.92 123.44 1.52 4.401
----------------------------------------------------------
TF-1406 243.84 640 W 0 16.76 16.76 1.321
-----------------------------------------
Includes 10.67 12.19 1.52 4.202
-----------------------------------------
Includes 13.72 15.24 1.52 8.394
-----------------------------------------
and 68.58 74.68 6.10 1.555
-----------------------------------------
Includes 70.10 73.15 3.05 2.553
-----------------------------------------
and 150.88 155.45 4.57 1.032
----------------------------------------------------------
TF-1407 243.84 600 W 70.10 109.73 39.62 0.631
-----------------------------------------
Includes 70.10 71.63 1.52 2.723
-----------------------------------------
Includes 76.20 77.72 1.52 2.044
-----------------------------------------
Includes 103.63 105.16 1.52 4.741
-----------------------------------------
and 153.92 155.45 1.52 0.989
-----------------------------------------
and 161.54 164.59 3.05 5.213
-----------------------------------------
Includes 161.54 163.07 1.52 8.626
----------------------------------------------------------
TF-1409 323.09 620 W 51.82 53.34 1.52 3.558
-----------------------------------------
and 80.77 97.54 16.76 1.128
-----------------------------------------
Includes 89.92 91.44 1.52 6.608
-----------------------------------------
and 141.73 150.88 9.14 5.965
-----------------------------------------
Includes 143.26 144.78 1.52 32.445
-----------------------------------------
and 266.70 272.80 6.10 1.040
-----------------------------------------
and 278.89 320.04 41.15 0.816
-----------------------------------------
Includes 289.56 291.08 1.52 3.669
-----------------------------------------
Includes 295.66 297.18 1.52 2.125
----------------------------------------------------------
Drilling at La Chicharra focused on infill drilling and exploration holes to the northwest of the existing open pit with the objective of defining the structural control of the known mineralization in the pit.
Hole TF-1696 intersected an interval of 100.06 metres grading 1.00 g/t gold, including an interval of 10.67 metres of 2.429 g/t gold, 9.18 metres of 1.363 g/t gold, 7.62 metres of 1.481 g/t gold and ended in 13.73 metres of 2.09 g/t gold.
Drill hole TF-1638 intersected 22.90 metres of 0.921 g/t gold including 3.05 metres of 2.362 g/t gold. Drill hole TF-1645 drilled along the same section but 50 metres to the southwest intercepted a mineralized interval commencing at surface, of 19.6 metres of 0.65 g/t gold. This interval included 7.62 metres of 1.26 g/t gold. Drill hole TF-1640 intercepted multiple mineralized zones starting at 9.14 metres depth to the north and west of the pit including 12.2 meters of 0.95 g/t gold.
Highlights of selected drill holes from the La Chicharra pit are as follows:
Table 2
Significant Assay Results for August and September 2011
from the La Chicharra Open Pit
----------------------------------------------------------
Drill Intersections
--------------------------------
Drill True
Hole Section Width
Number Depth (m) Line From (m) To (m) (m) Au g/t
----------------------------------------------------------
TF-1638 210.31 2820W 6.10 28.96 22.90 0.920
-----------------------------------------
Includes 13.72 16.76 3.05 2.360
----------------------------------------------------------
TF-1640 201.17 2780W 41.15 53.34 12.20 0.950
-----------------------------------------
Includes 44.20 48.77 4.60 1.920
-----------------------------------------
Includes 45.72 47.24 1.52 3.140
-----------------------------------------
and 57.91 71.63 13.70 0.550
-----------------------------------------
Includes 62.48 65.53 3.05 1.390
-----------------------------------------
and 79.25 80.77 1.52 1.160
-----------------------------------------
and 199.64 201.17 1.52 1.310
----------------------------------------------------------
TF-1641 192.02 2820W 0.00 19.81 19.80 0.650
-----------------------------------------
Includes 0.00 7.62 7.62 1.260
-----------------------------------------
and 99.06 100.58 1.52 0.610
----------------------------------------------------------
TF-1643 82.82 2800W 0.00 16.80 16.80 0.690
-----------------------------------------
Includes 3.05 4.57 1.52 1.260
-----------------------------------------
Includes 6.10 10.67 4.60 1.260
----------------------------------------------------------
TF-1645 185.93 2800W 27.43 39.62 12.20 1.050
-----------------------------------------
Includes 27.43 30.48 3.05 3.200
----------------------------------------------------------
TF-1646 210.31 and 45.72 68.58 22.90 0.710
-----------------------------------------
Includes 54.86 60.96 6.10 1.580
-----------------------------------------
and 146.30 147.83 1.52 0.590
----------------------------------------------------------
TF-1647 182.88 2780W 0.00 16.76 16.70 0.540
-----------------------------------------
Includes 12.19 15.24 3.05 2.230
-----------------------------------------
and 51.82 54.86 3.05 1.030
-----------------------------------------
and 124.97 128.02 3.05 0.730
-----------------------------------------
Includes 124.97 126.49 1.52 1.320
-----------------------------------------
and 153.92 161.54 7.60 1.230
-----------------------------------------
Includes 155.45 156.97 1.52 3.590
----------------------------------------------------------
TF-1648 164.59 and 16.76 19.81 3.05 0.650
-----------------------------------------
Includes 16.76 18.29 1.52 1.180
-----------------------------------------
and 57.91 60.96 3.05 3.030
-----------------------------------------
Includes 57.91 59.55 1.52 4.430
----------------------------------------------------------
TF-1651 255.55 2840W 0.00 9.14 9.10 0.830
-----------------------------------------
Includes 0.00 3.05 3.05 1.230
-----------------------------------------
and 24.38 32.00 7.60 0.710
-----------------------------------------
Includes 27.43 30.48 3.05 1.380
-----------------------------------------
and 48.77 50.29 1.52 1.470
----------------------------------------------------------
TF-1654 124.97 2580W 38.10 45.72 7.60 0.540
-----------------------------------------
Includes 39.62 41.15 1.52 1.480
-----------------------------------------
and 76.20 79.25 3.05 0.610
-----------------------------------------
Includes 76.20 77.72 1.52 1.020
----------------------------------------------------------
TF-1656 173.74 2760W 0.00 9.14 9.14 0.926
----------------------------------------------------------
Includes 0.00 3.05 3.05 1.260
-----------------------------------------
Includes 6.10 7.62 1.52 1.816
----------------------------------------------------------
TF-1662 182.88 2840W 41.15 68.58 27.43 0.556
-----------------------------------------
Includes 41.15 42.67 1.52 2.110
-----------------------------------------
Includes 45.72 47.24 1.52 1.425
-----------------------------------------
Includes 57.91 59.44 1.52 1.020
-----------------------------------------
Includes 65.53 67.06 1.52 1.080
----------------------------------------------------------
TF-1668 155.44 and 25.91 27.43 1.52 0.886
-----------------------------------------
and 82.30 92.96 10.66 0.587
-----------------------------------------
Includes 91.44 92.96 1.52 2.930
-----------------------------------------
and 96.01 108.20 12.19 0.508
-----------------------------------------
Includes 103.63 105.16 1.52 1.100
-----------------------------------------
and 118.87 128.02 9.15 3.011
-----------------------------------------
Includes 118.87 120.40 1.52 17.150
----------------------------------------------------------
TF-1673 152.40 2540W 68.58 106.68 38.10 0.536
-----------------------------------------
Includes 76.20 79.25 3.05 1.238
-----------------------------------------
Includes 91.44 92.96 1.52 3.200
-----------------------------------------
Includes 96.01 97.54 1.52 1.020
-----------------------------------------
and 124.97 134.11 9.14 0.590
-----------------------------------------
Includes 124.97 126.49 1.52 1.540
----------------------------------------------------------
TF-1677 155.45 2520W 9.14 48.77 39.63 0.625
-----------------------------------------
Includes 19.81 21.34 1.52 1.190
-----------------------------------------
Includes 25.91 27.43 1.52 1.925
-----------------------------------------
Includes 30.48 35.05 4.57 1.065
-----------------------------------------
Includes 36.58 38.10 1.52 3.480
----------------------------------------------------------
TF-1678 204.22 2500W 76.20 138.68 62.48 0.544
-----------------------------------------
Includes 88.39 89.92 1.52 1.215
-----------------------------------------
Includes 102.11 106.68 4.57 1.464
-----------------------------------------
Includes 111.25 118.87 7.62 1.157
----------------------------------------------------------
TF-1679 210.31 2840W 36.58 83.82 47.24 0.500
-----------------------------------------
Includes 38.10 39.62 1.52 1.020
-----------------------------------------
Includes 56.39 60.96 4.57 1.255
-----------------------------------------
Includes 67.06 70.10 3.04 1.126
----------------------------------------------------------
TF-1696 283.46 2600W 149.35 249.41 100.06 1.000
-----------------------------------------
Includes 153.92 164.59 10.67 2.429
-----------------------------------------
Includes 176.78 185.93 9.18 1.363
-----------------------------------------
Includes 187.45 195.07 7.62 1.481
-----------------------------------------
Includes 217.93 231.65 13.73 2.090
----------------------------------------------------------
TF-1701 271.27 2620W 153.92 160.02 6.10 1.929
-----------------------------------------
Includes 156.97 158.50 1.52 6.980
-----------------------------------------
and 167.64 196.60 28.96 1.289
-----------------------------------------
and 222.50 227.08 4.57 0.582
-----------------------------------------
and 233.17 237.74 4.57 0.650
-----------------------------------------
Includes 236.22 237.74 1.52 1.330
----------------------------------------------------------
TF-1703 269.75 2640W 45.72 47.24 1.52 0.553
-----------------------------------------
and 135.64 201.17 65.53 0.768
-----------------------------------------
Includes 143.26 149.35 6.10 2.821
-----------------------------------------
Includes 166.12 167.64 1.52 1.435
-----------------------------------------
Includes 170.69 172.21 1.52 1.490
-----------------------------------------
Includes 179.83 181.36 1.52 2.770
----------------------------------------------------------
The Company continues drilling and expects to complete in excess of 120,000 metres of drilling from July, 2011 to December 31, 2011. Further drill results will be provided on an ongoing basis.
This press release was reviewed and prepared by Lawrence A. Dick, Ph.D., P.Geo., a director of the Company, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101 and by Miguel Soto, P. Geo., a director and the COO of the Company.
About Timmins Gold
Focused solely in Mexico, Timmins Gold Corp. is in commercial gold production at its wholly owned San Francisco gold mine in Sonora, Mexico. The mine is a past-producing open pit heap leach operation. Timmins Gold has forecast production at a rate in excess of 100,000 ounces of gold per year. (Micon International NI 43-101F1 Technical Report dated November, 2010.)
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 our 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.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Timmins Gold Corp.
Mr. Bruce Bragagnolo, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com
www.timminsgold.com