Timberline Commences Drill Program At South Eureka Project In Nevada
The Lookout Mountain project is an advanced-stage gold property at the pre-feasibility level, strategically located within the southern portion of Nevada's productive Battle Mountain-Eureka gold trend. The property has an extensive exploration and drill history, including work, beginning in 1981, by Amselco, Barrick Gold, Echo Bay Exploration, Norse-Windfall Mining, and others. A total of 533 holes have been drilled at the project, totaling over 267, 000 feet. The total land package, exceeding 15,000 acres, encompasses a 4-mile strike length of structurally and stratigraphically controlled gold mineralization. All outlined mineralized zones are open and require additional in-fill and step-out drilling in order to initiate a Timberline preliminary economic scoping study. Additionally, a number of identified drill targets will be tested for potential resource expansion.
About Timberline Resources Corporation
Timberline is a diversified gold company with three complementary business units:
- Butte Highlands Joint Venture - currently in development with anticipated gold production in 2011;
- An active exploration division with a large, drill-tested, highly prospective project portfolio in Nevada's Battle Mountain - Eureka gold trend;
- Two contract core drilling subsidiaries in the U.S. and Mexico providing revenues and cash flow to the company.
Timberline is focused on the evaluation and the acquisition of advanced-stage exploration opportunities, with the potential for near-term development and production. Timberline formed a 50/50 joint venture with Highland Mining, LLC, an affiliate of Small Mine Development, at its royalty-free Butte Highlands Gold Project which commenced development in the summer of 2009 and has gold production targeted in 2011. The Management team has experience, depth, and a solid track record of achievement in building successful companies and discovering economic ore bodies. Timberline is listed on the NYSE Amex where it trades under the symbol "TLR" and on the TSX Venture Exchange where it trades under the symbol "TBR".
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