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Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Pink Sheets: TVCFF) announces a resource estimate for its Novoveska Huta uranium project in Slovakia. This is the first NI 43-101 compliant resource estimate that has been prepared for this deposit; the estimate has been reviewed, audited and approved by Tetra Tech, Inc. The results of the resource estimate at a cutoff grade of 0.06% U are:
3.75 million pounds of U 3O 8 in Measured and Indicated Resources of 1.662 million tonnes grading 0.102% U 3O 8; and an additional
12.738 million pounds of U 3O 8 in Inferred Resources of 4.689 million tonnes grading 0.123% U 3O 8.
This resource adds to Tournigan’s 43-101 compliant uranium inventory. The Novoveska Huta uranium deposit is located near the town of Spisska Nova Ves, about 50 kilometres northwest of Tournigan’s high-grade Kuriskova uranium deposit. At Kuriskova, the most recent resource estimate (see news release dated April 26, 2011) comprises an Indicated Resource of 28.5 million pounds U
8 at a grade of 0.555% U
8 contained in 2.3 million tonnes and an additional Inferred Resource of 12.7 million pounds U
8 at a grade of 0.185% U
8 contained in 3.1 million tonnes, both estimates at a cutoff of 0.05% U. The Kuriskova Prefeasibility Study, being prepared by Tetra Tech, Inc. continues to progress on schedule, with completion expected by early in 2012.
“We are excited to add these pounds of uranium to our 43-101 compliant resource inventory so close to Tournigan’s flagship Kuriskova project,” said Dorian L. (Dusty) Nicol, Tournigan’s President and CEO. “We look forward to growing and advancing both properties.”
Tournigan’s objective at Novoveska Huta was to verify historic data, which was collected during Slovakia’s communist period, and to find additional resources. The western part of the deposit (currently comprising the Measured and Indicated Resource) was known before Tournigan acquired the property, but the data base had not been verified and underground sampling data had not been evaluated. Tournigan’s work in the western part of the deposit verified the historical data. In addition, Tournigan included underground channel sample data in the new resource estimate. Tournigan’s exploration drilling in the eastern part of the deposit confirmed the extension of mineralization to the east and increased the exploration potential of the deposit. The eastern block is at a higher grade than the western block and remains open to the east and north.