TNR Gold Update On Exploration Program At Shotgun Gold Project, Alaska/TSX Approves $3.5 Million Loan Agreement
VANCOUVER, British Columbia, June 12, 2012 /PRNewswire/ -- TNR Gold Corp. (the " Company") (TSX VENTURE:TNR.V) is pleased to provide an update on the planned exploration program at its Shotgun property in Alaska. The program will commence immediately and will include an estimated 1500m of drilling at Shotgun Ridge prior to a resource calculation updating the historical estimate. 3D geophysical surveys are also planned for Shotgun Ridge and other areas within the property where there are extensive, but currently unexplained geochemical gold anomalies.
In addition to returning 210.5m gold grades averaging 1.29 g/t, including 27.4 m of 2.3 g/t Au, drill hole 06-43 significantly changed the Company's understanding of structural control at Shotgun Ridge and demonstrated that mineralization is still open at depth (Technical Report on the Shotgun-Winchester Project, SW Alaska, 2008). Following exploration at other prospects on the Property, the Company returned to Shotgun Ridge in 2011 to conduct a geophysical orientation survey across the area containing the drilling and historical resource. 3D resistivity and chargeability results show previously unknown structures within the ridge that appear to correlate well with geology and mineralization identified in drilling. The current program will use the 3D geophysical results to assist targeting mineralization to depth along southwest dipping feeder zones identified in hole 06-43. (Further details on the project can be found on our website at www.tnrgoldcorp.com/i/pdf/TNR_Shotgun_MAY2012_Public.pdf)
"Drill hole 06-43 has clearly been the most encouraging hole at Shotgun Ridge. We are optimistic that the current drilling program will continue to increase this mineralized zone at depth which will be reflected in the subsequent resource estimate" comments John Harrop, VP Exploration
About the Shotgun Gold Project
TNR holds a 100% interest in the Shotgun property located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in southwestern Alaska. This area is emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects on the Shotgun property and that of the Donlin Creek gold deposit as well as other important intrusion-associated deposits.
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