|July 06, 2010|
Tosca To Acquire Apache Property
|Tosca Mining Corporation,(TSX-V - TSQ, Frankfurt TQ4) reported today that it is acquiring a 100-per-cent interest in the 400 hectare (4 sq kilometers) Apache property, located in the Municipality of Trincheras, Sonora state, Mexico. |
The property is approximately 140 km north of Hermosillo, in the Trincheras Gold Mining District and 30 Km southwest of Timmins Gold Corp's. San Francisco gold mine. The latter is currently producing at a rate of 80,000 to 100,000 ozs of gold per year with operating costs of $412 per oz.
The primary target area at Apache is defined by at least 8 historical workings that explored/exploited a series of parallel southwest trending veins that can be traced across a majority of the property. The core of the property, which has a majority of the workings, is centred on a large zone of iron oxide alteration.
An initial work program, consisting of trenching and mapping has recently started on the property
Tosca has agreed to purchase a 100-per-cent interest in the Apache property by paying $144,000 payable as 900,000 shares -- subject to TSX Venture approval - to a private individual.
On Behalf of the board of directors,
Dr. Luca Riccio Ph.D. P.Geo
For further information, please visit the company's website at www.toscamining.com or call 604-687-6562.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Tosca Mining Corp. relies upon litigation protection for forward looking statements.
The TSX Venture Exchange (TSX Venture)) has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
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