Kingsmen Resources Ltd. press release
Tumi Resources Limited - Work Commences on Tumi's Seven Silver Projects in the Bergslagen District, Sweden
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VANCOUVER, March 29 /CNW/ - Tumi Resources Limited (the "Company") (TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). Mr. David Henstridge, President, is pleased to provide an update on the Company's exploration activities in Sweden. During recent months, the Company has been active in staking numerous silver projects in the Bergslagen District of south-central Sweden, and is now a major claim holder in the district. The Bergslagen district lies immediately to the north-west of Stockholm and covers an area of approximately 200 kms east-west by 150 kms north-south. The district is underlain by volcanics and sediments which are more than 2 billion years old. Bergslagen is a highly mineralized district and one of the most important ore districts in Europe, containing deposits of iron, manganese, base-metal and silver sulphides. It contains the well known historic and current mines Sala, Falun, Garpenberg and Zinkgruvan. Ten exploration licences totaling 4,255 hectares that cover seven historic silver mines have now been granted by the Swedish Mining Inspectorate, for an initial period of three years. A further eight exploration licences covering additional significant silver prospects have been applied for, and will be reported on shortly.
The seven historic silver producers for which the Company has received exploration licences are:
Sala (2,432 Ha) Sweden's largest historic silver producer, the famous Sala silver mine operated for nearly 400 years and produced some of the richest silver ores in the world. It is estimated that more than 200 millions ozs of silver were recovered; it was reported grades of up to 7,000 g/t Ag were mined.
Hallefors (794 Ha) Sweden's second largest historic silver producer after Sala. Mineralization occurs in fissures cross-cutting volcanics and also as lode deposits within stratabound carbonate rocks. Small production (9,000 tonnes) from 1878 to 1917 averaged 1,560 g/t Ag, 12% Zn and 38% Pb.
Svardsjo (284 Ha) The Svardsjo Cu-Pb-Zn-Ag mines, located 16 kms NE of Falun, produced ore from the Middle Ages and more recently between 1959 and 1972; 775,000 tonnes of production averaged 113 g/t Ag, 0.6% Cu, 2.7% Pb and 6.0% Zn. Ore is considered volcanogenic- exhalative in origin.
Lovasens (185 Ha) A rich Pb-Zn-Ag mine that operated between 1630 and 1954 with ore hosted by a silicate skarn. Between 1630 and 1878, the mine produced 806 tonnes of Pb and 83,000 ozs of Ag; the average grade was about 240 g/t Ag.
Kalvbacken (168 Ha) An old Zn-Pb-Cu-Ag mine located 17 kms southwest of Falun that produced about 600,000 tons of ore. The ore occurred as two stock-like skarn-carbonate bodies.
Tomtebo (80 Ha) The historic Tomtebo mine is located 25 km southeast of Falun and produced small amounts of Cu-Zn-Ag ore.
Oster Silvberg (312 Ha) Oster Silvberg mine, located 27 km south of Falun, was the main producer of silver in Sweden in the Fourteenth and Fifteenth Centuries. Early records indicate that silver production exceeded 32,000 ozs per year.
Very little modern exploration has been undertaken for silver within the Bergslagen district. There is excellent potential for discovering new mineral occurrences either along strike or down-dip from the known mineralization or entirely new mineralized zones. The Company is in the process of obtaining the historical records of all these silver prospects and initial detailed work will be focused on Sala and Hallefors. The qualified person for Tumi's Silver Projects, David Henstridge, a Fellow of the Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has visited the Bergslagen District and verified the contents of this news release.
On behalf of the Board,
"David Henstridge" David Henstridge, President & CEO
Forward Looking Statements. This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange nor the Frankfurt Deutsche Borse have reviewed the information contained herein, and, therefore, do not accept responsibility for the adequacy or the accuracy of this release.