TOSCA DRILLS 365 METRES OF 0.084% MO INCLUDING 177 METRES OF 0.101% MO AND 64 METRES OF 0.80% CU AND 0.067% MO
Tosca Mining Corp. has received assay results for two additional holes
(TMC-17 and TMC-18) from its 4,873-metre (16,000-foot) two-phase diamond drill
program carried out at the Red Hills molybdenum-copper project, located in
Presidio county, Texas. The balance of the assays for the remaining 13 holes
will be announced when received.
Hole Length From To Interval Interval Cu % Mo %
(feet) (metres)
TMC-17 1249 0 1249 1249 380 0.036
includes 0 869 869 265 0.030
includes 869 1249 380 116 0.049
TMC-18 1199 0 1199 1199 365 0.084
includes 409 989 580 177 0.101
includes 99 309 210 64 0.80 0.067
Drill hole TMC-17 was collared at the south end of the mineralized system
within the barren core at the centre of the deposit. It was drilled on a bearing
of 90 degrees at minus-75-degree inclination to test the boundaries of the
barren core. As expected, the grades diminish closer to the centre. However, as
TMC-17 has intercepted Mo values throughout its length, this indicates that the
size of the barren core is smaller than previously thought, thereby increasing
the total amount of Mo in the system.
Drill hole TMC-18 was set at a previously untested location at the north end
of the deposit. This vertical hole targeted the shallow copper cap and the
underlying molybdenum zone. TMC-18 is the best hole drilled to date at Red Hills
in terms of its molybdenum grades and thicknesses. TMC-18 also penetrated a
thick zone of shallow copper-molybdenum mineralization averaging 0.80 per cent
Cu and 0.067 per cent Mo over 64 metres.
The results of Tosca’s drilling to date generally validate historic holes
previously drilled to define the copper-molybdenum cap. In addition, Tosca’s
holes drilled to date to test the underlying molybdenum system show strong
continuity and good molybdenum grades over wide intervals.
The company is in the process of completing flotation tests on a number of
composites at the Metcon laboratory in Tucson, Ariz. The tests are being
conducted under the supervision of M3-Engineering. Complete metallurgical
results are expected by year-end.
This information and new resource estimates to be finalized by Mine
Development Associates of Reno, Nev., will form the basis for the preparation of
a pre-economic assessment on the copper-molybdenum cap.
Luca Riccio, PhD, PGeo, a qualified person as defined by NI 43-101, is
responsible for the technical information contained in this release.
We seek Safe Harbor.