Including 122 Meters of 4.45 g/t Au and 88 Meters of 7.14 g/t Au in Infill Holes
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2015) -
Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) ("Timmins Gold" or the "Company") is pleased to announce results from a recent drill program at its Ana Paula project located in the Guerrero Gold Belt, in the State of Guerrero, Mexico. The drill program was carried out to: (i) confirm previous drilling; (ii) obtain metallurgical samples; and (iii) carry out select infill drilling. The drill program consisted of 2,000 meters in 10 core holes.
Select significant mineral intercepts measured downhole from the 1,400 meters of infill drilling in seven core holes include:
25.30 meters of 2.67 g/t Au at 13 meters downhole and 9.85 meters of 6.93 g/t Au at 53 meters downhole in hole AP-15-233
122.25 meters of 4.45 g/t Au at 80 meters downhole and 22.50 meters of 1.49 g/t Au at 215 m downhole and 29.00 meters of 2.86 g/t Au at 255m downhole in hole AP-15-236
33.00 meters of 2.98 g/t Au at 50 m downhole, 23.85 meters of 3.73 g/t Au at 171m downhole and 42.75 meters of 2.16 g/t Au at 207 meters downhole in hole AP-15-237
87.80 meters of 7.14 g/t Au at 62 meters downhole and 49.50 meters of 1.34 g/t Au at 178 meters downhole in hole AP-15-239
Select significant mineral intercepts from the twin-hole drilling include:
97.62 meters of 4.64 g/t Au in hole APM-15-01, at 20 meters downhole;
95.15 meters of 5.14 g/t Au in hole APM-15-02, at 141 meters downhole;
200.35 meters of 8.33 g/t Au in hole APM-15-03, at 0 meters downhole. This hole is a twin hole of hole AP-11-37 drilled in 2011 which intercepted 198.45 meters of 8.379 g/t Au at 3.05 meters downhole.
The results from the confirmation drilling were consistent with those from previous programs. Additionally, the infill drilling results were very encouraging, as they continue to display Ana Paula's high-grade gold mineralization and allow for a greater understanding of the deposit.
The samples will be sent for metallurgical testing which is expected to be completed in early 2016. The metallurgical results will be part of a Feasibility Study which the Company is scheduling for completion in the middle of 2016.
Confirmation & Metallurgical Drilling
One of the primary functions of the drilling conducted by Timmins Gold was to verify the results of the previous programs. Three core holes twinning three existing core holes were drilled. Half of the length of core was sent for analyses and assays verification and the other half length of the core was archived for metallurgical testing. A total of approximately 600 meters in three twin holes were drilled at the core of the Ana Paula deposit, and were representative of the life-of-mine plan as described in the 2014 Preliminary Economic Assessment (Year 1 to 8).
For metallurgical testing, three production composites will represent the production profile (Year 1- 2, Year 3-4 and Year 5-8). Additionally, metallurgical variability composites were obtained, representing the four main litho-domains containing gold mineralization, i.e.: (1) the high grade breccia; (2) the lower grade breccia; (3) granodiorite; (4) skarn-limestone-shale.
Infill Drilling
Approximately 1,400 meters of infill drilling was conducted in seven holes at the Ana Paula deposit with the goal of increasing the confidence of the block model via a reduction in the kriging interpolation distance, and to confirm the approximate dimensions of the high grade breccia zone.
Table 1 shows the significant gold intercepts from both the twin and infill drilling, above an internal cut-off grade of 0.63 g/t Au and using a pit shell gold price of US$1,200 per ounce.
Figures
Fig. 1 shows a plan view of the Timmins Gold drilling program and also shows the location of holes from previous programs. Figs. 2-5 show sections of the Ana Paula deposit with select significant mineral intercepts highlighted. The pits outlined in the figures are based on a gold price of $1200/oz gold.
To view Figures 1 to 5, please visit the following link: http://media3.marketwire.com/docs/1032485_FIGURES.pdf.
Table 1: Significant Mineral Intercepts, Ana Paula 2015 drill program. *
