Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Pink Sheets: TVCFF) announced today the results of downhole radiometric logging of a geotechnical drill hole in the central part of the high grade Kuriskova Uranium deposit in Slovakia. This hole was drilled to collect geotechnical information as part of the ongoing prefeasibility study being performed by Tetra Tech, Inc. which is expected to be completed before the end of this year.
Highlights of the results from this drill hole (LE-K-70-G) are:
- An intercept of 3.0 metres (393.2m to 396.2 m) at 0.239 % eU3O8, including 0.6 metres at 0.765% eU 3O 8;
- An additional intercept of 1.2 metres (397.5 m to 398.7m) at 1.168 % eU 3O 8 including 0.6 meters at 2.038 % eU 3O 8; and
- This hole was drilled into a zone of the deposit with a modeled grade of 0.056% U 3O 8 and thus intersected considerably higher than expected grade in this part of the deposit.
As planned, Drill Hole LE-K-70-G intersected the central portion of the Indicated Resource which comprises Kuriskova’s Main Zone North at a depth of about 390 metres. Based on the most recent Kuriskova resource estimate (April 2011), the modeled grade in this part of the Kuriskova deposit was 0.056% U 3O 8. This new drill intersection thus represents a significant improvement over expected grade in this part of the deposit. The April 2011 resource estimate by Tetra Tech comprises an Indicated Resource of 28.5 million pounds U 3O 8 grading 0.555% U 3O 8 contained in 2.3 million tonnes and an additional Inferred Resource of 12.7 million pounds U 3O 8 grading 0.185% U 3O 8 contained in 3.1 million tonnes, at a cut-off of 0.05%U (see news release dated April 26, 2011).
A complete tabulation of significant intersections from this hole is presented in Appendix A which can be viewed from this web link: http://www.tournigan.com/i/pdf/20110823-Appendix-A.pdf. The drill hole location can be viewed from this web link: http://www.tournigan.com/i/pdf/20110823-Appendix-B.pdf.Uranium grades presented in this news release are reported as equivalent uranium oxide (eU 3O 8 %) based on downhole radiometric logging. The logging was performed by Koral, s.r.o. of Slovakia. Drill core samples are being submitted to the Laboratory of the Geological Survey in Slovakia (SGUDS) and ALS Chemex in Seville, Spain for chemical assay. Drill intercepts are reported as drilled; true thicknesses have not yet been calculated. Quality Control and Quality Assurance is provided by Ravi Sharma, Tournigan's Manager, Resources and Reserves, who is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical disclosure contained in this news release. About Tournigan Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.