|October 27, 2011|
Tosca drills 365 metres (1199ft) of 0.084% Mo including 177 metres (580ft) of 0.101% Mo and 64 metres (210ft) of 0.80% Cu and 0.067% Mo
|Tosca Mining Corporation (TSQ.V; US: TSMNF; FSE:TQ4) announces it has received assay results for two additional holes (TMC-17 and TMC-18) from its 4,873 metre (16,000 ft.) 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. |
The results of holes TMC -17 and 18 are summarized below and their locations shown in the drill plan located at http://www.toscamining.com/i/maps/drillplan.jpg.
Drill hole TMC-17 was collared at the south end of the mineralized system within the barren core at the center of the deposit. It was drilled on a bearing of 90° at - 75° inclination to test the boundaries of the barren core. As expected, the grades diminish closer to the center. 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% Cu and 0.067% 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, Arizona. 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 Nevada, will form the basis for the preparation of a Pre-Economic Assessment (PEA) on the copper-molybdenum cap.
Luca Riccio, PhD, P.Geo, a qualified person as defined by NI 43-101 is responsible for the technical information contained in this release.
On Behalf of the board of directors,
For further information, please visit the company's website at www.toscamining.com or call 604-687-6562. Email email@example.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements
You can view the Next News Releases item: Tue Nov 29, 2011, Tosca drills 362.4 metres of 0.089% Mo, including 253 metres of 0.1% Mo in hole TMC-25 and 301.4 metres of 0.09% Mo including 42.4 metres of 0.16% Mo in hole TMC-29.
You can view the Previous News Releases item: Thu Sep 29, 2011, Tosca drills 128 metres of 0.085% Molybdenum and 469 ppb Rhenium.
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