VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 13, 2007) - Timmins Gold Corp. ("Timmins Gold") (TSX VENTURE:TMM) announces that it has commenced its summer 2007 drill and exploration program at its 100% owned San Francisco Mine, Sonora Mexico.
The objective of the drill program is to increase the mineral resource in the vicinity of the mine. In addition, an airborne magnetics and radiometrics program has recently been completed and a ground Natural Source AMT geophysical program will commence shortly. A geochemical sampling program is also in progress. The intention of these programs is to identify, and hopefully confirm new targets both proximate to the mine and regionally on the 42,000 hectare property. The following is a summary of the various programs.
TFD 27 Area - Western portion outside of the San Francisco pit. A total of 720 meters in six diamond drill holes will be drilled in this area with the following three objectives:
(1) confirm the extent of the high grade mineralization intersected last year by core hole TFD 27 (110.75 meters with 3.078 g/t Au, including 8.05 meters with 26.25 g/t Au); (2) confirm and determine the extent of the variations in grade recoveries between reverse circulation and core drilling. During the course of the 2006 core drill program Timmins Gold identified several significant discrepancies between the assay grades recovered from reverse circulation holes completed by the previous operator Geomaque, and the core holes completed by Timmins Gold. These differences were detected by comparing the 2005/2006 core drilling results with historical assay values and production information; and (3) increase the mineral resource along strike to the west of the current pit by delineating the extent and metallurgical characteristics of the higher grade style of mineralization identified in TFD 27.
Crusher Area - Northern portion of the San Francisco pit. A total of 1,700 meters in 19 diamond drill holes are planned in this area. The objective of this program is to infill drill the mineralization identified to the north of the pit by last year's drill program. The program will focus on near surface mineralization in an area 200 meters wide by 300 meters long. The principal objective is to increase the measured and indicated resource to justify a pit expansion to the north.
South portion of the San Francisco pit. Recent trenching in an area 600 meters long and 100 meters wide, along the walls and ramps in the south area of the pit returned values up to 15 g/t Au. These high grade values are related to stockworks in leucogranite lenses hosted in schists. Identification of this zone allows for the possibility of expanding the pit to the south. A total of 520 meters in 12 short holes are planned in this area.
La Chicharra pit. An initial program of 1,500 meters in 9 holes, followed by an infill program of approximately 2,340 meters in 13 holes are planned. The program is designed to both confirm the continuity of the mineralization identified during the 2006 drill program along the northwest southeast trend of the La Chicharra pit and assuming the continuity of the mineralization is confirmed, to infill drill along that trend.
A high resolution magnetics and radiometrics aerial survey covering 60,000 hectares was recently concluded and the results have been delivered to the Company for further processing. The aerial survey was completed by the Servicio Geologico Mexicano (Mexican Geological Survey) under contract to Timmins Gold, using a mobile sensor and a Cesium Vapor Geometrics G822A magnetometer and a Gamma Ray Spectrometer.
Zonge Engineering of Tucson, Arizona will shortly commence a first phase Natural Source AMT survey. The program will initially cover known gold occurrences to provide a signature for future lines. A second phase of Natural Source AMT will focus on coincidental geochemical and airborne geophysical anomalies supported by geological interpretation. In light of the results from the 2005 and 2006 drill programs and other work completed, Timmins Gold geologists are currently reconsidering several of the assumptions regarding the structural and geological controls over the mineralization.
A geochemical sampling program covering an area of 6 kilometers by 2 kilometers is under way. Lines are 200 meters apart and samples are being collected every 50 meters along those lines for a total of 2,000 samples. The geochemical sampling program is 60% complete and, along with the geophysical programs and structural re-interpretation, will aid in identifying additional targets both locally and regionally.
Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Senior Vice-President and CFO of Timmins Gold Corp. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Timmins Gold Corp. employees and contractors.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timmins Gold Corp. - Hermosillo, Sonora, Mexico
Arturo Bonillas, B.Sc. (Eng)
Timmins Gold Corp. - Vancouver, BC, Canada
Darcy Krohman, P.Geo., C.A.
Vice-President & CFO
Timmins Gold Corp. - Investor Relations