Tornado Gold Focuses Efforts to Drill Illipah: Potential to Host Seven Million (7,000,000) Ounces of Gold
31 July 2008 - 11:45PM
Marketwired
RENO, NEVADA (the "Company") has selected the Illipah property
as its first drill program, based on results from its ongoing
exploration program and historical data from previous exploration
programs.
Between 1982 and 1992, Alta Gold produced 37,000 ounces (greater
than $33,000,000 dollars at current gold prices) from an open pit
at the north end of the Illipah property. A number of other groups
have conducted exploration programs on the property, including
Barrick Gold, Tenneco, Battle Mountain Gold, and Cyprus Gold.
Historically, from thirty four bore-holes drilled in previous
exploration programs, one hole drilled by Battle Mountain Gold
intersected 35 feet averaging 0.08 oz/ton gold at a depth of 750
feet. Similarly, Alta Gold intersected 20 feet of 0.27 oz/ton gold
at 345 feet. Based on historical data from near-surface exploration
of past programs, Tornado has derived a current resource estimate
of 953,717 tons of ore grading 0.036 oz/ton gold for a total 34,657
oz/gold. These significant results have received no follow up to
date. More importantly, drilling to date has not tested more
promising, deeper formations on the Illipah property. Tornado Gold
will focus the next phase of drilling operations on these deeper
formations.
Research shows a geological setting at Illipah similar to that
at Newmont's Rain deposit, located 65 miles northwest of Illipah.
The Rain Mine reportedly hosts an average grade of 0.40 oz/ton gold
and Newmont estimated the resource potential at over 2.0 million
ounces of gold over a 4,500 foot strike length. Newmont originally
mined the Rain as an open pit, but later discovered higher grade
gold at depth. This discovery is now reflected in the exploration
concept for economic mineralization at Illipah, where Tornado
intends on exploiting the known low grade ore reserves at shallow
depths of 300-500 feet, as well as targeting deep high grade ore
bodies between 1000-2500 feet. The Illipah property could
potentially host up to seven million ounces of Gold based upon
current and historical surface and sub-surface geological data
compiled to date.
About Tornado Gold International Corp.
Tornado Gold focuses on the discovery of massive gold deposits
(greater than 7M ounces). To that end we have chosen Nevada - one
of the most prospective places on earth to find and exploit such
gold deposits. Our exceptional team of proven explorers utilizes
unique, cutting-edge technology that we believe helps us to quickly
and precisely target the areas on the earth where these massive
deposits may lie undiscovered. Tornado Gold is headed by an
experienced management team with decades of collective experience
which contributed to many discoveries of significant ore-bodies
throughout the United States.
Tornado Gold International Corp.
Submitted on behalf of the board of directors
Earl W. Abbott, CEO / President
Tornado Gold International Corp.
Legal Notice Regarding Forward-Looking Statements
Statements in this news release that are not historical facts
are forward-looking statements that are subject to risks and
uncertainties. Forward-looking statements are based on current
facts and analyses and other information that are based on
forecasts of future results, estimates of amounts not yet
determined, and assumptions of management. Forward looking
statements are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "aims", "potential", "goal", "objective",
"prospective", and similar expressions or that events or conditions
"will", "would", "may", "can", "could" or "should" occur.
Information concerning gold or other mineral reserve estimates may
also be deemed to be forward looking statements, as it constitutes
a prediction of what might be found to be present if and when a
project is actually developed.
Actual results may differ materially from those currently
anticipated due to a number of factors beyond the reasonable
control of the Company. It is important to note that actual
outcomes and the Company's actual results could differ materially
from those in such forward-looking statements. Factors that could
cause actual results to differ materially include misinterpretation
of data, inaccurate estimates of gold or mineral deposits, the
uncertainty of the requirements demanded by environmental agencies,
the Company's ability to raise financing for operations, breach by
parties with whom we have contracted, inability to maintain
qualified employees or consultants because of compensation or other
issues, competition for equipment, inability to obtain drilling
permits, potential delays or obstacles in drilling operations and
interpreting data, the likelihood that no commercial quantities of
gold or minerals are found or recoverable, and our ability to
participate in the exploration of, and successful completion of
development programs on all aforementioned prospects and leases.
Additional information on risks for the Company can be found in
filings on Edgar of other junior mineral exploration companies with
the US Securities and Exchange Commission. This announcement may
also contain information about adjacent properties on which we have
no right to explore or mine. We advise U.S. investors that the
SEC's mining guidelines strictly prohibit information of this type
in documents filed with the SEC. U.S. investors are cautioned that
mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties.
Contacts: Tornado Gold International Corp. Investor Relations
1-866-807-5912 Email: Info@TornadoGold.com Website:
www.TornadoGold.com
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