| February 18, 2009 Tonogold Resources Announces Drilling Results and 4th Quarter Exploration Update for Tonopah Divide | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| La Jolla, California. February 18, 2009. Tonogold Resources, Inc. (PINK OTC: TNGL) announces the 4th quarter exploration update including drilling results for the Tonopah Divide Gold Project located five miles south of the town of Tonopah, Esmeralda County, Nevada. The best two drill holes, located approximately 400 feet apart, were: TD08-007 which encountered 30 feet grading 2.93 g/t gold including 10 feet of 6.74 g/t gold and 105 g/t silver, and TD08-015 with two intercepts of 25 feet at 0.92 g/t gold and 45 feet grading 0.98 g/t gold, the latter including 10 feet of 3.95 g/t gold and 549 g/t silver. Centerra (U.S.) Inc., a subsidiary of Centerra Gold Inc. (TSX: CG), is the operator of the exploration program as part of its Exploration and Option Agreement with Tonogold Resources, Inc. Centerra's report to Tonogold for the quarter ending December 31, 2008 includes the following key points of interest: • Drilling Program: the initial reverse circulation (RC) drill program was completed between October 2, 2008 and November 10, 2008. Fifteen angle holes were drilled on five different targets for a total of 13,695 feet. • The principal host rock targeted was the Siebert Formation, but a number of intercepts occur in the underlying Fraction Tuff, which was not previously considered as a favorable host rock. • Gold and silver mineralization were encountered in all 15 holes. There were 48 mineralized intercepts, at a cutoff of 10 feet of 0.3 g/t Au Equivalent (Au Equiv = Au + Ag/75). The more significant intercepts with gold grades >0.650 g/t (0.019 oz/ton) are as follows:
• Some intercepts are in oxidized rock, some are in unoxided rock, and some are in mixed oxidized and unoxidized rock. • Depending on hole orientation, the horizontal width of intercepts ranges from 40% to 70% of the reported downhole width, and vertical depth ranges from 70% to 90% of the downhole depth. • Assay results suggest presence of at least some coarse gold and a test assay program has begun along with conventional check assays. • Anomalous gold and silver values occur extensively in all holes within which there are broad zones of gold-silver mineralization that are lower grade than the intercepts cited above. Examples include:
Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California. For more information on the Company visit their website www.tonogold.com. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This press release contains certain forward-looking information about Tonogold Resources, Inc. ("Tonogold") which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)," and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tonogold Resources, Inc., that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy, the grade and quantity of minerals in our projects may not be economic, we do not have fee title to our properties, but derive our rights through leases and the Mining Law, we are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission, we trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities, mining is subject to extensive environmental regulations and can create substantial environmental liabilities, gold and silver are commodities which have substantial price fluctuations, a drop in gold and/or silver prices could adversely affect future profitability and/or capital raising efforts, and mining can be dangerous and present operational hazards for employees and contractors. Readers are cautioned not to place undue reliance on these forward-looking statements. Tonogold does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contact: Phillip Winter Jeff Janda 858-456-1273 ir@tonogold.com www.tonogold.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
You can view the Next News Releases item: Wed May 6, 2009, Tonogold Resources Announces 1st Quarter Exploration Update for Tonopah Divide You can view the Previous News Releases item: Wed Nov 19, 2008, Tonogold Resources, Inc. Sells Lease Interest in Nyac, Alaska Gold Project You can return to the main News Releases page, or press the Back button on your browser. |
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