|By Marketwired .||
|May 29, 2014 06:01 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/29/14 -- Timmins Gold Corp. (TSX: TMM)(NYSE MKT: TGD) ("Timmins Gold" or the "Company") announced today a US$5 million exploration program for 2014. The objective is to probe three high potential targets near the Company's San Francisco gold mine in Mexico.
Over the last few years, regional prospecting of over 200,000 hectares ("Ha") staked by Timmins in Sonora, Mexico has identified multiple high priority targets. The objective of this year's plan is a first-stage drilling program to follow up on the initial testwork of three of these targets: the North Trend, Marisol and Las Barajitas.
-- The North Trend was selected due to the similarity of its geophysics, soil anomalies and gold mineralization with the San Francisco deposit and because of its potential to host an open-pit deposit of similar scale to the San Francisco Mine. Trenching at the North Trend has returned values such as 6.01 g/t gold over 10 m, including 2 m at 26.61 g/t gold. -- Marisol is a shear zone hosted deposit with gold showings for approximately 2 km of strike, and it also has the potential to host a deposit of similar scale to the San Francisco Mine. Drilling by previous operators at Marisol (see below) returned values such as 1.43 g/t gold over 73 m. A total of 40,000 m of core, RC (reverse circulation) and RAB (rotary air blast) drilling will be carried out at the two priority targets, the North Trend and Marisol. -- Las Barajitas, to the south of San Francisco, is a new prospect. It will be tested with several holes. Trench assays here returned 2 m of 4.14 g/t gold as well as three consecutive samples of 2 m of 1.20, 1.38 and 1.24 g/t gold.
The details related to the drill program by area are outlined below. Figures (including maps and assay tables) for the information in this news release can be found at: http://timminsgold.com/projects/2014-exploration/.
The North Trend
The North Trend target is located on the same mineral trend as the Company's San Francisco Mine, 2-8 km north of current operations. This area includes the Vetatierra, La Mexicana, Area 1B, El Socorro, El Diez and La Escondida zones.
The exploration objective is to find a new deposit that can act as a satellite pit for the San Francisco Mine or as a standalone operation. While still at an earlier stage, the Vetatierra zone in particular appears to be quite similar to the San Francisco area in terms of both geophysics and soil anomalies. Also similar to San Francisco, the area is populated by numerous quartz and quartz-tourmaline veins/veinlets and diorite which at San Francisco indicate the presence of gold. The aim is to delineate an open-pit deposit of similar scale to the San Francisco Mine.
Previous work at the North Trend includes airborne magnetic data, geochemical soil sampling, and 3,000 m of regional exploration drilling which was completed in 2007. In 2011, a 1,500 m drill campaign was carried out at La Mexicana and returned multiple gold intersections, including 3 m of 2.16 g/t, 6 m of 0.61 g/t, 3 m of 23.98 g/t, 8 m of 1.49 g/t, 3 m of 3.55 g/t, 3 m of 1.80 g/t, and 3 m of 4.21 g/t.
In the Vetatierra zone, 3 km west-northwest of La Mexicana, there are many outcroppings of diorite stocks, most likely related to the metasedimentary sequence formed by metasandstone and metaconglomerate. Select rock chip samples on trenches across the diorite include gold values of 10 m grading 6.01 g/t, including 2 m of 26.61 g/t, 44 m of 0.39 g/t, and 8 m of 0.64 g/t. In addition, orientation sampling on the sedimentary sequence including the quartz-tourmaline veinlets returned higher gold values such as 7.20 g/t, 10.19 g/t, 12.52 g/t, 15.18 g/t and 29.56 g/t.
(1) General area: The Company plans a series of RAB holes to be distributed in an area of 3 km wide in the east-west direction and 8 km north-south, totaling approximately 15,000 m of drilling. The RAB holes will be widely spaced along lines N25 degrees E. The RAB holes are meant to explore areas where there is an overlap of the soil geochemical anomalies with the low magnetic trends, which is part of the signature at the San Francisco mine.
(2) Vetatierra: The Company plans to drill 10 core holes, 350-400m deep, and several RC holes totaling 3,000 m. Additionally, around 3,000 m of RAB drilling will be carried out to explore the low magnetic trend observed in the corridor (2,000 m long x 600 m wide) between Vetatierra and La Mexicana, which has not been drilled to date. There are numerous artisanal workings and old mines in this area.
The Marisol property is located 16 km directly east of the San Francisco Mine.
The exploration objective is to test the mineralization adjacent to historical drilling and also explore along strike (approx. 2 km). From previous work, there is potential both for a near-surface bulk tonnage structure and/or higher-grade gold and silver structure at depth (especially near the southwest). Drilling to test the surface stockwork extension at depth and its relationship with the metamorphic unit at depth will also be carried out. The Marisol prospect appears to be a pluton-related deposit, however further work has to be done to prove this. Marisol is highlighted by shear zone hosted mineralization that outcrops discontinuously over 2 km. The shear zone trends northeast-southwest and represents the sediment-volcanic contact.
Marisol consists of a series of trenches and shallow underground works. Core and RC drilling and trenching crossing the metasedimentary sequence was carried out by previous owners (see news releases of Goldrich Mining Company, June 30, 2008 and August 25, 2008). The underground works appear to reach depths of approximately 50 m and were developed along high-grade gold and silver structures. Historical RC holes intersected gold and silver values in intervals that could be minable by open-pit methods. The best gold intersections are: 21 m of 2.48 g/t in hole MA-1, including 12 m of 3.78 g/t gold; 73 m grading 1.43 g/t gold including 28 m of 2.61g/t and 7 m of 5.90 g/t in hole MRAC-8; 74 m of 0.81 g/t including 8 m of 4.30 g/t in hole MARC-9.
The trenches demonstrate the presence of parallel structures in the direction of the hanging wall and strong alteration and presence of micro-fissures in the host rock. Sampling along the trenches in the host rock shows that mineralization and the width of the potential mineral zones could be extended at least in three zones in the southwest. The extreme ends of Marisol appear to be in contact with a metamorphic sequence of the same rock type that hosts the gold mineralization at the San Francisco Mine.
The initial interpretation of Marisol is that it is a window of sedimentary rocks affected by low grade metamorphism hosting a parallel system of structures containing gold and silver mineralization extending approximately 3 km long, N60 degrees E dipping 80 degrees -85 degrees southwest, in intermittent outcrops. Alteration and gold and silver mineralization can be observed in the trench across trenches almost 200 m wide. The longest and central part of the area is called Marisol and is open to the northeast. The southwest extreme is called La Jarra, in which gold and silver is found in fissure structures filled by quartz and tourmaline along several directions.
Approximately 6,000 m of RC and core drilling will be carried out to test the mineralization adjacent to historical drilling. Exploration along strike is also planned. The Company has recently signed an exploration option agreement on the Marisol claims that were not part of the Company's claim block in the area. The Company will pay a total of US$ 3.5 million in cash and a 1.5% NSR which may be purchased by the Company for US$ 1.5 million. Payments totaling US$ 800,000 are to be made on signing and every six months over the four year option term with the remaining $2.7 million is due on the four year anniversary date.
Las Barajitas target is located 2 km south of the San Francisco Mine.
The target consists of two gold and silver mineral structures hosted by rocks of the Coyotillo Group, formed by meta-volcanics, quartzite, meta-conglomerate, schist and lenses of gneiss. It has been observed that a very intense magnetic dipole trend starts at Las Barajitas and extends for more than 10 km to the northwest. The Company's hypothesis is that the gold and silver mineralization in Las Barajitas is the shallow top level of a mineral system that could be related to an event of deep intrusion in its middle portion - which could be the source of the mineralization in the region.
Trench sampling returned significant assays of silver detected along a 275 degrees shear. These samples varied from 5 ppm to a maximum of 972 g/t silver, including samples of 101, 204, 107 and 332 g/t silver. The shear is intersected by a 30 degrees azimuth fault which detected gold values in the order of 10 ppb to a maximum of 4.14 g/t gold including three consecutive samples of 2 m of 1.20, 1.38 and 1.24 g/t gold.
The Company plans to drill three core and three RC holes to explore the gold and silver values at depth and to understand the projection and its relationship with the lithology and structures.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) nor the New York Stock Exchange MKT accepts responsibility for the adequacy or accuracy of this news release.
Technical Information & Qualified Person Notes
This news release was reviewed by Jose Vizquerra-Benavides, CPG (AIPG), a Director of the Company, and Taj Singh, M.Eng, P.Eng, a Vice-President of the Company, both of whom are recognized as a Qualified Person ("QP") under the guidelines of National Instrument 43-101. The news release was prepared by Miguel Soto, P. Geo. Eng., a Director and Vice-President of the Company. Mr. Vizquerra - Benavides, Mr. Singh, and Mr. Soto have read and approved the contents of this news release. Sampling and QA-QC protocol were followed to ensure the best practices in sampling and analysis of the drill samples. Duplicates, standards and blanks were inserted into the sampling stream at intervals of 25 samples. Assays were performed by Inspectorate and ALS Chemex Labs and a minimum of ten per cent of the original samples assayed by Inspectorate were sent to other independent labs for check assays. The check assays were cross-referenced and the results verified. In addition, for a discussion of verification, sampling and QA/QC protocols used by the Company, please see the Company's technical report dated Dec 6, 2013 entitled "NI 43-101 F1 Technical report updated Resources and Reserves and Mine plan for the San Francisco Gold project", filed on SEDAR.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein may constitute forward-looking statements and are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward-looking statements are statements which relate to future events. Such statements include estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.
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.
The Workspace-as-a-Service (WaaS) market will grow to $6.4B by 2018. In his session at 16th Cloud Expo, Seth Bostock, CEO of IndependenceIT, will begin by walking the audience through the evolution of Workspace as-a-Service, where it is now vs. where it going. To look beyond the desktop we must understand exactly what WaaS is, who the users are, and where it is going in the future. IT departments, ISVs and service providers must look to workflow and automation capabilities to adapt to growing ...
Mar. 4, 2015 04:00 AM EST Reads: 1,067
Docker is becoming very popular--we are seeing every major private and public cloud vendor racing to adopt it. It promises portability and interoperability, and is quickly becoming the currency of the Cloud. In his session at DevOps Summit, Bart Copeland, CEO of ActiveState, discussed why Docker is so important to the future of the cloud, but will also take a step back and show that Docker is actually only one piece of the puzzle. Copeland will outline the bigger picture of where Docker fits a...
Mar. 4, 2015 04:00 AM EST Reads: 3,106
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, includin...
Mar. 4, 2015 03:30 AM EST Reads: 2,709
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...
Mar. 4, 2015 02:45 AM EST Reads: 3,810
Hadoop as a Service (as offered by handful of niche vendors now) is a cloud computing solution that makes medium and large-scale data processing accessible, easy, fast and inexpensive. In his session at Big Data Expo, Kumar Ramamurthy, Vice President and Chief Technologist, EIM & Big Data, at Virtusa, will discuss how this is achieved by eliminating the operational challenges of running Hadoop, so one can focus on business growth. The fragmented Hadoop distribution world and various PaaS soluti...
Mar. 4, 2015 02:30 AM EST Reads: 1,156
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
Mar. 4, 2015 02:00 AM EST Reads: 3,124
Advanced Persistent Threats (APTs) are increasing at an unprecedented rate. The threat landscape of today is drastically different than just a few years ago. Attacks are much more organized and sophisticated. They are harder to detect and even harder to anticipate. In the foreseeable future it's going to get a whole lot harder. Everything you know today will change. Keeping up with this changing landscape is already a daunting task. Your organization needs to use the latest tools, methods and ex...
Mar. 4, 2015 01:30 AM EST Reads: 3,513
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
Mar. 4, 2015 01:00 AM EST Reads: 4,386
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize sup...
Mar. 4, 2015 12:30 AM EST Reads: 3,534
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of present...
Mar. 4, 2015 12:00 AM EST Reads: 3,087
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along...
Mar. 3, 2015 11:15 PM EST Reads: 743
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures...
Mar. 3, 2015 09:15 PM EST Reads: 862
Business and IT leaders today need better application delivery capabilities to support critical new innovation. But how often do you hear objections to improving application delivery like, “I can harden it against attack, but not on this timeline”; “I can make it better, but it will cost more”; “I can deliver faster, but not with these specs”; or “I can stay strong on cost control, but quality will suffer”? In the new application economy, these tradeoffs are no longer acceptable. Customers will ...
Mar. 3, 2015 07:30 PM EST Reads: 946
Red Hat has launched the Red Hat Cloud Innovation Practice, a new global team of experts that will assist companies with more quickly on-ramping to the cloud. They will do this by providing solutions and services such as validated designs with reference architectures and agile methodology consulting, training, and support. The Red Hat Cloud Innovation Practice is born out of the integration of technology and engineering expertise gained through the company’s 2014 acquisitions of leading Ceph s...
Mar. 3, 2015 06:30 PM EST Reads: 708
The free version of KEMP Technologies' LoadMaster™ application load balancer is now available for unlimited use, making it easy for IT developers and open source technology users to benefit from all the features of a full commercial-grade product at no cost. It can be downloaded at FreeLoadBalancer.com. Load balancing, security and traffic optimization are all key enablers for application performance and functionality. Without these, application services will not perform as expected or have the...
Mar. 3, 2015 05:30 PM EST Reads: 623