VANCOUVER, BC (PINKSHEETS: TVCZF) (FRANKFURT: TGP) is pleased to
announce that SRK Consulting (U.S.) Inc. has prepared a new
resource estimate for the Kuriskova uranium deposit in Eastern
Slovakia. The new NI 43-101 estimate has upgraded a significant
portion of the deposit to the indicated category at higher grade
than previously estimated. The deposit now has an indicated
resource of 727,000 tonnes grading 0.413% U3O8 or 6.6 million
pounds of U3O8 and an inferred resource of 5.8 million tonnes
grading 0.247% U3O8, or 31.3 million pounds of U3O8. The base case
of the estimate uses a cut-off of 0.03% U for comparison with prior
estimates. SRK also provided a resource estimate at a cut-off of
0.05% U.
"Our infill drilling program between January 2007 and February
2008 has increased the pounds of uranium in the high-grade Main
Zone. Overall, this drilling has upgraded close to 20 percent of
the deposit to the indicated category with an average grade of over
0.4 percent U3O8," said Dorian L. (Dusty) Nicol, Tournigan's
President and CEO. "Our follow-up plan is to continue infill
drilling and resume exploration drilling with the goal of adding
pounds of uranium, increasing grade and bringing more of the
deposit into the indicated classification."
-***-
-------------------------------------------------------------
Kuriskova Resource Estimate July 2008 (SRK)
-------------------------------------------------------------
Classification Cut-off U% Tonnes U3O8% U3O8 lbs
-------------------------------------------------------------
Indicated 0.03%U 0.350 727,000 0.413 6,614,000
-------------------------------------------------------------
Inferred 0.03%U 0.209 5,765,000 0.247 31,337,000
-------------------------------------------------------------
-------------------------------------------------------------
Indicated 0.05%U 0.369 685,000 0.435 6,570,000
-------------------------------------------------------------
Inferred 0.05%U 0.254 4,568,000 0.299 30,131,000
-------------------------------------------------------------
-****-
Main Zone
Kuriskova has a high-grade main zone of stratabound uranium
mineralization supplemented by a lower-grade stratabound zone of
mineralization, both hosted in a sequence of andesitic volcanics.
Within this main zone, SRK estimated the aforementioned indicated
resource of 727,000 tonnes grading 0.413% U3O8 or 6.6 million
pounds of U3O8 and an inferred resource of 3.5 million tonnes
grading 0.348% U3O8 or 27.1 million pounds of U3O8 (see Main Zone
Total Indicated and Main Zone Total Inferred in following
table).
The breakdown of the base case resource estimate by SRK is as
follows:
-***-
------------------------------------------------------------------------
Kuriskova Insitu Resources @ 0.03%U cut-off
------------------------------------------------------------------------
Classification Model Tonnes U3O8 lbs
by Area Sub-Zone Zone U% (000's) U3O8% (000's)
------------------------------------------------------------------------
Indicated
------------------------------------------------------------------------
Main ZONE1N 1 0.366 633 0.432 6,033
------------------------------------------------------------------------
UP MAIN ZONE 1.2 0.161 40 0.190 165
------------------------------------------------------------------------
ZONE1S 1.1 0.293 55 0.346 416
------------------------------------------------------------------------
Main Zone Total Indicated 1+1.1+1.2 0.350 727 0.413 6,614
------------------------------------------------------------------------
H.W. Andesite Total Indicated 0.000 0 0.000 0
------------------------------------------------------------------------
Total Indicated 0.350 727 0.413 6,614
------------------------------------------------------------------------
Inferred
------------------------------------------------------------------------
Main ZONE1N 1 0.394 1918 0.464 19,620
------------------------------------------------------------------------
UP MAIN ZONE 1.2 0.106 12 0.125 33
------------------------------------------------------------------------
ZONE1S 1.1 0.179 1598 0.211 7,433
------------------------------------------------------------------------
H.W. Andesite ZONE2N 2 0.056 409 0.066 595
------------------------------------------------------------------------
ZONE3N 3 0.109 316 0.128 891
------------------------------------------------------------------------
ZONE4 4 0.104 265 0.123 719
------------------------------------------------------------------------
ZONE2S 2.1 0.052 629 0.061 846
------------------------------------------------------------------------
ZONE3S 3.1 0.075 619 0.088 1,200
------------------------------------------------------------------------
Main Zone Total Inferred 1+1.1+1.2 0.295 3,528 0.348 27,087
------------------------------------------------------------------------
H.W. Andesite Total Inferred 0.073 2,238 0.086 4,251
------------------------------------------------------------------------
Total Inferred 0.209 5,765 0.247 31,337
------------------------------------------------------------------------
-****-
The previous resource estimate at Kuriskova was as follows:
-***-
Kuriskova Uranium Deposit, Inferred Resource Estimate
December 2007 @ 0.03%U cut-off (A.C.A. Howe)
------------------------------------------------------
Domain Tonnes (Mt) U3O8 % U3O8 (lbs)
------------------------------------------------------
Main Zone 3,335,000 0.421 30,920,000
Hanging wall 1,765,000 0.138 5,370,000
------------------------------------------------------
All 5,100,000 0.323 36,290,000
------------------------------------------------------
-****-
A completed table of the new resource estimate by SRK can be
found in Appendix A or by visiting Tournigan's web site from this
link:
http://www.tournigan.com/i/pdf/KuriskovaResourceAppendixA.pdf
A longitudinal projection showing drill locations with results
can be viewed from this link:
http://www.tournigan.com/i/pdf/20080716KuriskovaResourceLP.pdf
SRK's new resource estimate for the Kuriskova uranium deposit
includes results from 24 of 30 diamond drill holes drilled by
Tournigan at the Kuriskova deposit in 2007, 10 of 15 diamond drill
holes drilled by Tournigan in 2006, 3 diamond drill holes drilled
by Tournigan in late 2005, 7 of 8 diamond drill holes in
January-February 2008 and 18 holes of the 27 historical diamond
drill holes drilled by previous government operators. The hole
spacing for this inferred resource ranged between 40 to 150 metres.
Allan V. Moran, Principal Geologist and Frank Daviess, Principal
Resource Geologist, both with SRK Consulting (U.S.) Inc. and
independent Qualified Persons as defined by NI 43-101, prepared the
current resource estimate.
Interpretation and outlining of mineralization was conducted
section-by-section by incorporating geological, structural and
assay information for each geological domain and by snapping points
for hanging wall and footwall contact while performing section
interpretation. Triangulations of outlines between sections were
done to create 3D wireframe solids for each geological domain using
Datamine Studio 3 software. Interpolation of grade to populate the
block model within domain wireframes was carried out using an
inverse distance to the power three method and a dynamic anisotropy
search option. The 3D wireframe solids were constructed by
Tournigan and reviewed by SRK. Interpolation and NI 43-101
compliant resource classification parameters were developed by
SRK.
The Kuriskova uranium deposit is part of a belt of largely
stratabound uranium-molybdenum deposits hosted in a sequence of
Permian-age meta-volcanic/sedimentary rocks in eastern Slovakia.
The Kuriskova deposit is blind and is covered by thick soils and
extensive forest cover. The deposit has a northwest-southeast
strike, and a variable steep-moderate southwest dip (60 degrees in
the upper part, 47 degrees in the lower part). The overall
dimensions of the main zone of the deposit established to date by
drilling, start about 120 metres below the surface and extend to a
depth of approximately 650 metres below surface. The Main Zone
deposit has been defined approximately 650 metres along strike by
530 metres down-dip by 2.5 - 3.0 metres thick.
A NI 43-101 technical report supporting the new resource
estimate will be completed by SRK and will be posted under
Tournigan's profile at www.sedar.com within 45 days.
Notes on Methodology
After preliminary geological logging at the drill site,
Kuriskova drill core is transported to the Novoveska Huta logging
and sample preparation shed where detailed geological logging, core
photography, preliminary interpretation and sample interval
selection takes place. Selected sample intervals are sawn in half
and one-half of the split-core is transported to SGS Lakefield,
Ontario. The core is crushed, pulverized and undergoes geochemical
analysis under strict QA/QC protocol established by Tournigan
between primary and secondary lab and monitored by a sample and
batch tracking system designed by Tournigan.
QA/QC
Tournigan employs a rigorous QA/QC program for its uranium
analytical program. Core is sampled and saw split in Slovakia,
where field blanks are inserted. The entire half core sample is
shipped to a primary lab, SGS Lakefield, Ontario, for crushing and
pulverization. Duplicates and certified standards representing
different grade ranges are inserted blindly and samples are
renumbered by a third-party independent secondary lab (Act Lab)
prior to analysis by SGS labs. SGS analyzes all samples for 52
elements using the ICM40B method (ICP). Samples between 0.1% U to
1.0% U are analyzed by Pressed Pellete XRF and samples having more
than 1% U are analyzed by Borate Fusion XRF. Check assays are
performed on ore grade samples by an independent lab at a minimum
rate of 4%. Five percent of grind checks are performed on 150 and
106 micron screen and 2% on 6.35 mm and 2.00 mm screen. Quality
assurance is carried out for each batch of results received and for
each analytical method. Actions taken are documented and
communicated back to SGS labs.
Ravi Sharma, MAusIMM, Tournigan's consulting manager, resource
and reserve, and a Qualified Person as defined by NI 43-101, has
reviewed and approved the technical disclosure contained
herein.
About Tournigan Energy Ltd.
Tournigan is a uranium and gold exploration and development
company that has built a portfolio of highly prospective assets in
Europe and North America. The company has focused its development
and obtained licences in Slovakia, a member of the European Union
since 2004. Slovakia is economically and politically stable, has
excellent infrastructure and an educated population. Tournigan is
committed to safe and sustainable exploration and mine development
in Slovakia and its other operational jurisdictions.
On behalf of the Board of Directors of
Tournigan Energy Ltd.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made
herein, including any information as to the Corporation's future
financial or operating performance, may be forward-looking and
subject to important risk factors and uncertainties, many of which
are beyond the Corporation's ability to control or predict.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Corporation undertakes no
obligation to update publicly or release any revisions to
forward-looking statements to reflect events or circumstances after
the date of this document or to reflect the occurrence of
unanticipated events.
Cautionary Note to U.S. Investors -- The United States
Securities and Exchange Commission permits U.S. mining companies,
in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or
produce. We use certain terms in this news release, such as
"measured," "indicated," and "inferred," "resources," which the SEC
guidelines strictly prohibit U.S. registered companies from
including in their filings with the SEC. U.S. investors are urged
to consider closely the disclosure in our Form 40-F which may be
secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
For further information please contact: Knox Henderson Tournigan
Investor Relations (604) 637-3563 or visit www.tournigan.com
Tournigan Energy Ltd. 1200 - 570 Granville Street Vancouver, B.C.
Canada V6C 3P1 Tel: (604) 683-8320 Fax: (604) 683-8340 Email: Email
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