Tonogold Resources, Inc: Drilling Commences at Tonopah Divide Gold Project
17 June 2010 - 11:30PM
Tonogold Resources, Inc. (Pink Sheets:TNGL) announced the
commencement of the fourth drilling program at the Tonopah Divide
Gold Project which is located five miles south of the town of
Tonopah, Nevada.
Centerra (U.S.), Inc., a subsidiary of Centerra
Gold Inc. (TSX:CG), is managing the exploration program as part of
its recently formed Mining Venture with Tonogold Resources,
Inc.
The drilling program consists of 20 holes for an approximate
total of 20,000 feet of reverse circulation drilling. Boart
Longyear is the primary drilling contractor.
Centerra has conducted three previous drill
programs on the property in 2008 and 2009 totaling 43 holes and
40,280 feet of reverse circulation drilling.
Donald G. Strachan, Tonogold's Vice President of Exploration,
commented: "The 2010 drilling will hopefully expand the new North
Monte Cristo (NMC) zone, where in 2009 Centerra drilled up to 405
cumulative feet of low grade gold mineralization in one of the
holes. Centerra plans to further evaluate the configuration
of the NMC zone to see, in particular, if it extends closer to
surface. Other interesting targets for the 2010 drill program
include Gold Mountain, Victory Divide, and Divide East. Centerra
will also initiate metallurgical testwork on NMC samples."
Tonogold Resources, Inc. is a minerals exploration company based
in La Jolla, California. For more information on the Company
visit their website www.tonogold.com.
Safe Harbor Statement Under the
Private Securities Litigation Reform Act of
1995
This press release contains certain forward-looking information
about Tonogold Resources, Inc. ("Tonogold") which is intended to be
covered by the safe harbor for "forward-looking statements"
provided by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not
historical facts. Words such as "expect(s)," "feel(s),"
"believe(s)," "will," "may," "anticipate(s)," and similar
expressions are intended to identify forward-looking
statements. These statements include, but are not limited to,
financial projections and estimates and their underlying
assumptions; statements regarding plans, objectives and
expectations with respect to future operations, products and
services; and statements regarding future performance. Such
statements are subject to certain risks and uncertainties, many of
which are difficult to predict and generally beyond the control of
Tonogold Resources, Inc., that could cause actual results to differ
materially from those expressed in, or implied or projected by, the
forward-looking information and statements. These risks and
uncertainties include: our lack of operating revenue and
earnings history, our need for additional capital to pursue our
business strategy, some of our managers lack formal training in the
mining business, the grade and quantity of minerals in our projects
may not be economic, we do not have fee title to our properties,
but derive our rights through leases and the Mining Law, changes to
the Mining Law may increase the cost of doing business, we are a
non-reporting company and as such do not make periodic filings with
the Securities and Exchange Commission, we trade on the Pink Sheets
and there can be no assurances that a liquid market will develop in
our securities, mining is subject to extensive environmental
regulations and can create substantial environmental liabilities,
gold and silver are commodities which have substantial price
fluctuations, a drop in gold and/or silver prices could adversely
affect future profitability and/or capital raising efforts, and
mining can be dangerous and present operational hazards for
employees and contractors. Readers are cautioned not to place
undue reliance on these forward-looking statements. Tonogold
does not undertake any obligation to republish revised
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
CONTACT: Tonogold Resources, Inc.
Jeff Janda
jeff@tonogold.com
Jerry Samaras
858-456-1273
www.tonogold.com
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