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Re: News Release - Monday, May 09, 2005
Roadmap for Tournigan's Curraghinalt Gold Project
==================================================
Following a comprehensive review process, Tournigan Gold Corporation is
pleased to announce a detailed development schedule for its
Curraghinalt Gold Project in Northern Ireland. This five-stage plan
sets out the remaining milestones to be achieved for gold production to
begin at Curraghinalt.
Tournigan has made significant progress at Curraghinalt since the start
of work in May 2003. This includes the expansion of the known
mineralized vein system down-dip and along strike, as well as discovery
of new veins across strike. Fundamental to this expansion was the
intersection of 1.32 metres grading 66.95 g/t gold in drillhole CT-26
at a depth more than twice the lower limit of the current resource
zone. Other extensions to the current resource zone have also been
clearly defined, such as the 800-metre Southeast Target zone, and
step-out targets such as the Bend Zone also suggest the likelihood of
additional potential resources. Further, the agreement in principle
with the Police Service of Northern Ireland provides confidence in
Tournigan's ability to utilise a typical blasting regimen at the
proposed mine. Finally, Tournigan's comprehensive understanding of
structural controls and mineral characteristics at Curraghinalt is
reflected in the January 2005 estimate of an Inferred Resource of
262,000 oz from 527,700 tonnes grading 15.45 g/t gold and management
agrees with conclusions from the independent Technical Report, which
characterized the potential for additional resources as "very good" to
"excellent".
"My enthusiasm for the future of Curraghinalt remains unchanged,"
stated Jim Walchuck, President and COO, "and our five-part plan
provides the methodical approach necessary to unlock Curraghinalt's
potential. Obtaining the necessary permits in order to start the
underground development is our next focus. The studies and planning
completed in advance will allow us to move ahead quickly once these
permits are received".
The plan will be advanced by Mr. Walchuck, through the following five
stages:
1. Underground Development
2. Environmental Studies
3. Socio-Economic Development
4. Feasibility Studies
5. Construction and Production
Work is in progress on three of the stages that are critical to the
current timetable - Stage 1, 2 and 3. The entire plan is estimated to
take 18 to 36 months and Tournigan intends to provide frequent status
reports. The five stages (including current status) are as follows:
1. Underground Development
a. Design engineering and layout of underground development -
Preliminary draft in progress
b. Hire underground contractors - Currently reviewing proposals from
interested companies
c. Design necessary surface facilities.
d. Submit environmental mitigation plan to Northern Ireland Planning
Department
e. Complete underground development and bulk-sampling
f. Drill extension zones to test future expansion potential
2. Environmental Studies
a. Baseline sampling and data collection - Currently reviewing
proposals from interested contractors
b. Train local contractors on sampling protocols, using a
monthly/quarterly interval
c. Catalogue areas/species/conditions of specific concern and identify
impacts - started
3. Socio-Economic Development
a. Initiate discussions with relevant Northern Ireland authorities -
started
b. Establish communication schedule with local authorities and
residents - starting shortly
c. Implement training programs/schedules for future local mine
employees
d. Develop infrastructure plans, cost sharing and community development
programs
4. Feasibility Studies
a. Convert Inferred Resources to Measured and Indicated category per
Part 1
b. Complete Environmental Impact Assessment from data gathered in Part
2
c. Complete Socio-Economic Study, expanding on Part 3
d. Complete bankable feasibility study, including aspects from Parts 2
and 3
5. Construction and Production
a. Secure project financing
b. Complete Mining Licence application
c. Receive Mining Licence and permits
d. Construct surface facilities and begin mine development
e. Begin production
"Tournigan's enthusiasm for Curraghinalt continues to grow," states
Damien Reynolds, CEO, "We are excited to enter the next phase of
development at Curraghinalt. Based on our detailed review of the last
few months, Tournigan is now able to move forward with confidence on
all fronts. This review confirmed our opinion that Curraghinalt has
all that it takes to become an operating gold mine."
Tournigan will release a similar roadmap for the development of the
Sturec deposit at Kremnica shortly as both projects are advanced
towards a positive production decision.
Tournigan Gold is focused on developing two advanced gold projects in
Europe - Curraghinalt in Northern Ireland and Kremnica in Slovakia.
TOURNIGAN GOLD CORPORATION
"Damien Reynolds"
Damien Reynolds, CEO
"James Walchuck"
James Walchuck, President and COO
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, CEO or Garry
Stock, Executive VP at (604) 683-8320, or visit www.tournigan.com
==================================================
Copyright (c) 2005 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 Sun May 8, 2005 at 5:05:46 PM Pacific Time
==================================================
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Roadmap for Tournigan's Curraghinalt Gold Project
==================================================
Following a comprehensive review process, Tournigan Gold Corporation is
pleased to announce a detailed development schedule for its
Curraghinalt Gold Project in Northern Ireland. This five-stage plan
sets out the remaining milestones to be achieved for gold production to
begin at Curraghinalt.
Tournigan has made significant progress at Curraghinalt since the start
of work in May 2003. This includes the expansion of the known
mineralized vein system down-dip and along strike, as well as discovery
of new veins across strike. Fundamental to this expansion was the
intersection of 1.32 metres grading 66.95 g/t gold in drillhole CT-26
at a depth more than twice the lower limit of the current resource
zone. Other extensions to the current resource zone have also been
clearly defined, such as the 800-metre Southeast Target zone, and
step-out targets such as the Bend Zone also suggest the likelihood of
additional potential resources. Further, the agreement in principle
with the Police Service of Northern Ireland provides confidence in
Tournigan's ability to utilise a typical blasting regimen at the
proposed mine. Finally, Tournigan's comprehensive understanding of
structural controls and mineral characteristics at Curraghinalt is
reflected in the January 2005 estimate of an Inferred Resource of
262,000 oz from 527,700 tonnes grading 15.45 g/t gold and management
agrees with conclusions from the independent Technical Report, which
characterized the potential for additional resources as "very good" to
"excellent".
"My enthusiasm for the future of Curraghinalt remains unchanged,"
stated Jim Walchuck, President and COO, "and our five-part plan
provides the methodical approach necessary to unlock Curraghinalt's
potential. Obtaining the necessary permits in order to start the
underground development is our next focus. The studies and planning
completed in advance will allow us to move ahead quickly once these
permits are received".
The plan will be advanced by Mr. Walchuck, through the following five
stages:
1. Underground Development
2. Environmental Studies
3. Socio-Economic Development
4. Feasibility Studies
5. Construction and Production
Work is in progress on three of the stages that are critical to the
current timetable - Stage 1, 2 and 3. The entire plan is estimated to
take 18 to 36 months and Tournigan intends to provide frequent status
reports. The five stages (including current status) are as follows:
1. Underground Development
a. Design engineering and layout of underground development -
Preliminary draft in progress
b. Hire underground contractors - Currently reviewing proposals from
interested companies
c. Design necessary surface facilities.
d. Submit environmental mitigation plan to Northern Ireland Planning
Department
e. Complete underground development and bulk-sampling
f. Drill extension zones to test future expansion potential
2. Environmental Studies
a. Baseline sampling and data collection - Currently reviewing
proposals from interested contractors
b. Train local contractors on sampling protocols, using a
monthly/quarterly interval
c. Catalogue areas/species/conditions of specific concern and identify
impacts - started
3. Socio-Economic Development
a. Initiate discussions with relevant Northern Ireland authorities -
started
b. Establish communication schedule with local authorities and
residents - starting shortly
c. Implement training programs/schedules for future local mine
employees
d. Develop infrastructure plans, cost sharing and community development
programs
4. Feasibility Studies
a. Convert Inferred Resources to Measured and Indicated category per
Part 1
b. Complete Environmental Impact Assessment from data gathered in Part
2
c. Complete Socio-Economic Study, expanding on Part 3
d. Complete bankable feasibility study, including aspects from Parts 2
and 3
5. Construction and Production
a. Secure project financing
b. Complete Mining Licence application
c. Receive Mining Licence and permits
d. Construct surface facilities and begin mine development
e. Begin production
"Tournigan's enthusiasm for Curraghinalt continues to grow," states
Damien Reynolds, CEO, "We are excited to enter the next phase of
development at Curraghinalt. Based on our detailed review of the last
few months, Tournigan is now able to move forward with confidence on
all fronts. This review confirmed our opinion that Curraghinalt has
all that it takes to become an operating gold mine."
Tournigan will release a similar roadmap for the development of the
Sturec deposit at Kremnica shortly as both projects are advanced
towards a positive production decision.
Tournigan Gold is focused on developing two advanced gold projects in
Europe - Curraghinalt in Northern Ireland and Kremnica in Slovakia.
TOURNIGAN GOLD CORPORATION
"Damien Reynolds"
Damien Reynolds, CEO
"James Walchuck"
James Walchuck, President and COO
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, CEO or Garry
Stock, Executive VP at (604) 683-8320, or visit www.tournigan.com
==================================================
Copyright (c) 2005 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 Sun May 8, 2005 at 5:05:46 PM Pacific Time
==================================================
*** eSafe scanned this email for malicious content ***
*** IMPORTANT: Do not open attachments from unrecognized
