VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2008) - Timmins Gold (TSX VENTURE:TMM) announces that a 3,000 thousand meter core drill program has commenced on the Company's high grade Las Coloradas Project located in Durango, Mexico. The objectives of the drilling program include the exploration of the projection of the Las Coloradas mineral structures along strike and at depth where historic mining operations reported grades ranging from 15 to 50 grams of gold and 1kg of silver. The drill program is also designed to test the extent of disseminated mineralization in the host rock.
11 holes varying in depth from 200 to 450 meters are programmed along the 4.5 kilometers of the main mineral structure. The first 3 holes are designed to explore beneath the mineral zone known to exist at the bottom of the present underground workings in the Piedra Bola and Santa Anita shoots. This area covers a length of 1,500 meters and a depth of up to 350 meters. In the Escandalo-Los Fresnos and Verdun-El Tajo areas, the drilling is designed with similar objectives, and also to explore the possibility of a bulk tonnage zone in the host rock in the footwall of the main structure.
A preliminary exploration program was undertaken by Timmins Gold in the second half of 2007. An area 5 kilometers long and 2 kilometers wide was geologically mapped and 127 chip samples were taken along the main mineral structure, from the host rock, the dike and in secondary mineral structures parallel or intercepting the main structure. The highest value in the present surface sampling was 6.737 g/t Au and 456 g/t Ag over a width of 1.50 meters.
Old mining works like tunnels, shafts (both of which are currently non-accessible), trenches and small pits are found in four areas located along the main mineral structure. The most important drill targets as evidenced by the existence of old underground mining operations are the Santa Anita and La Piedra Bola areas, located in the north portion of the surveyed area. Both areas are old ore shoots with historic mining operations with grades varying from 15 to 50 g/t Au and more than 1 kg/t Ag. Other two important zones located at the south portion of the main mineral structure are El Escandalo-El Fresno and Verdun-El Tajo. In the El Escandalo-El Fresno area the sampling in the vein returned values varying from 0.50 to 0.808 g/t Au and 80 to 140 g/t Ag, but the host rock in the footwall averaged 0.53 g/t Au and 39 g/t Ag, in a width of 30 meters. The host rock in this area looks very altered, mainly kaolinization and propilitization with regular dissemination of fine pyrite, epidote and chlorite.
The Las Coloradas gold and silver mineral structure is exposed along more than 4.5 kilometers with a general strike of N15 degreesW and a dip of 70 degrees to 80 degreesNE with widths varying from 1 to 6 meters. The structure consists of a strong shear zone in which a porphyritic feldspar dike, probably of andesite composition has been emplaced. This forms the contact between volcanic rocks of dacitic composition of the Upper Volcanic Series and andesites of the Lower Volcanic Series. The gold mineralization is hosted in a breccia in the hangingwall and footwall of the dike and within the dike in the form of quartz veinlets. Disseminated pyrite and iron oxides are the main minerals observed on surface in the breccias and in the host rock, which is marked by a wide zone of argillization with white quartz stockwork and iron oxides (limonites, goethite and hematite).
Timmins Gold Corp is a junior gold mining company trading on the TSX Venture Exchange (TSX VENTURE:TMM) with a focus solely in Mexico. The Company has assembled a portfolio of high quality properties including its main project, the past-producing San Francisco Gold Mine in Sonora. The Company's mission for 2008 is to resume production at San Francisco and to conduct extensive drill programs on all its properties.
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.
Bruce Bragagnolo, LLB.
Timmins Gold Corp.
Darcy Krohman, P.Geo., C.A.
Vice-President & CFO
Timmins Gold Corp.