Kingsmen Resources Ltd. press release
Tumi Resources Limited stakes the Phoenix gold/silver property, Sonora, Mexico
TSXV - TSX Venture Exchange · Silver · Gold · Lead · Zinc · Copper · Antimony · Bismuth · Indium · Arsenic · Canada
TSXv - TM Frankfurt - TUY OTCBB - TUMIF
VANCOUVER, June 28 /CNW/ - Tumi Resources Limited ("Tumi" and/or the "Company") (TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). David Henstridge, President, is pleased to announce the acquisition through staking of the 4,106 hectare Phoenix precious metal exploration property located in northern Sonora, Mexico. The property is underlain by Mesozoic age volcanic and sedimentary rocks covered by a gently dipping alluvial plain. Within this sequence occurs at least one horizon of intensely sheared and fractured rock (original composition uncertain) that can be traced for over 4 km strike length east-west. Within this zone occurs extensive hematite and ferruginous carbonate alteration, along with quartz, arsenopyrite, chalcopyrite and oxides. The mineralized horizon(s) range from a few metres to tens of metres in thickness. Fifty-five rock samples were collected from various parts of the property over an area roughly 4 km east-west by 3.5 km north-south. Values ranged from trace amounts to 14.2 g/t gold and 73 g/t silver over 0.3 m and 7.8 g/t gold and 136 g/t silver over 2.6 m. An average of two contiguous samples ran 1.0 g/t gold and 15 g/t silver over 6.1 m and averages of three contiguous samples ran 0.5 g/t gold and 40 g/t silver over 11 m and 0.6 g/t gold, 46 g/t silver over 3.9 m. Highly anomalous values found within these horizons include 0.22 g/t gold over 10 m, 0.4 g/t gold over 4 m and 0.52 g/t gold over 6 m. Old workings developed by prospectors and small scale miners are scattered throughout the property, and these are located mainly on the higher grade portions of the structures, usually within quartz- and sulphide-rich zones. Numerous small placer gold mining pits are located in the gravels located between 1 and 3 km down-slope from the mineralized showings and workings south of the Phoenix claim. No information on the production from these placer mines is known at this time. Tumi has identified this area as a target with excellent potential to host a near-surface, bulk tonnage precious metal deposit. Most of the property has not been explored by Tumi, and there appears to be no evidence of any modern exploration. The known mineralized horizons are open to the east of the area sampled so far, a distance of up to 4 km to the eastern boundary of the Phoenix property. Mr. Henstridge stated "This is an excellent exploration play for a large, low grade precious metal system particularly as the structure has been traced for over 4 km. This style of mineralisation is well known in Sonora, including La Herradura, La Choya and San Franciso mines and the Lluvia de Oro, La Jojoba and El Chanate deposits. Surface exploration in the area will commence immediately." The qualified person for Tumi's 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 Phoenix Property and has 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 B¿rse have reviewed the information contained herein, and, therefore, do not accept responsibility for the adequacy or the accuracy of this release.