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Re: News Releases - Monday, December 29, 2003
Tournigan Receives Approval for Irish Exploration Licences
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Tournigan Receives Approval for Irish Exploration Licences
Tournigan Gold Corporation ("Tournigan") has received TSX-Venture
approval for the purchase of two exploration permits in the Republic of
Ireland. These permits, as well as 13 other permits already received
in the Republic, expand Tournigan's land holdings in Ireland and
Northern Ireland to 2,022 square kilometres.
The purchase consideration is 60,000 shares of Tournigan which are
subject to a 4 month hold expiring April 22, 2004. A 3% net smelter
royalty is payable from production. These two permits include two
zones of gold mineralization related to faults that occur along a
regional structure. Target areas include panned-concentrate stream
sediment anomalies, deep overburden soil geochemistry anomalies, and
magnetic anomalies along interpreted faults. The two new exploration
permits and Tournigan's previously acquired permits in the Republic of
Ireland cover similar Dalradian Supergroup stratigraphy underlying
Tournigan's exploration licenses east and immediately across the border
in Northern Ireland. Although the Dalradian was only identified
relatively recently as having gold potential, at least 5 deposits with
defined resources have already been discovered in the Dalradian in
Ireland and Scotland, including Tournigan's Curraghinalt deposit.
Tournigan plans a phase 1 regional exploration program subsequent to
the completion of comprehensive data compilation currently underway.
This phase 1 program will consist of regional stream sediment and
reconnaissance geologic mapping/sampling surveys to be conducted
concurrently with the ongoing Curraghinalt mine development and
exploration programs. The Curraghinalt development/production program
consists of existing resource in-fill drilling and associated data
collection that will comprise a feasibility study leading to permitting
and a production decision in 2004.
Tournigan's Qualified Person is Dr. Kent Ausburn - see Tournigan's
press releases dated October 1 and November 5, 2003 for further details
on this and Tournigan's Quality Assurance/Quality Control (QA/QC)
program.
TOURNIGAN GOLD CORPORATION
"Damien Reynolds"
Damien Reynolds, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Statements
in this press release other than purely historical information,
including statements relating to the Company's future plans and
objectives or expected results, constitute forward-looking statements.
Forward-looking statements are based on numerous assumptions and are
subject to all of the risks and uncertainties inherent in the Company's
business, including risks inherent in mineral exploration and
development. As a result, actual results may vary materially from
those described in the forward-looking statements.
For further information please contact:
Damien Reynolds, President Tel: (604) 683-8320
Garry Stock, Executive VP Tel: (604) 683-8320
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Copyright (c) 2003 TOURNIGAN GOLD CORPORATION (TSXV-TVC) All rights
reserved. For more information visit our website at
www.tournigan.com/ or send mailto:info@tournigan.com
Message sent on Mon Dec 29, 2003 at 9:48:43 AM Pacific Time
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