28 Nov 2011 07:00
28 November 2011
Touchstone Gold
Exploration Update
Target Enhanced in Tagual South Area
Third Drill to be added by Year-End
London, 28 November 2011 - Touchstone Gold Limited ("Touchstone Gold" or the "Company") (AIM: TGL) is pleased to announce new and encouraging trenching assay results at the Tagual South area of its Rio Pescado Project in Colombia.
Highlights
·; Trenching results confirm potential for significant gold mineralization at Tagual South area
·; Intersections indicate three distinct gold bearing quartz veins including 4.10 g/t Au over 4.5 metres
·; Further drilling to identify extent of gold mineralization
·; Third drill to be added by year-end
Touchstone Gold has received final assays from the Company's trenching programme in the Tagual South area of the property, which represents one of several high priority areas that has recently been identified by through the 2011 auger soil sampling programme. The Tagual South zone is located approximately 800 metres to the east of the Filodehambre and Pepas zones.
Table 1. Trenching results for Tagual South*:
Zone | Trench Number | Intersection (m) | Gold Grade (g/t Au-quartz vein) | ||
From | To | Interval | |||
Tagual South | Trench 39 (previously reported) | 6.20 | 13.00 | 6.80 | 3.31 |
Trench 40 (previously reported) | 23.00 | 29.80 | 6.80 | 3.01 | |
35.00 | 42.00 | 7.00 | 4.36 | ||
Trench 41 | 4.10 | 6.80 | 2.70 | 2.60 | |
Trench 42, 43, and 44 | Overburden - no sampling | ||||
Trench 45 | 8.80 | 13.30 | 4.50 | 4.10 | |
30.20 | 31.70 | 1.50 | 4.50 | ||
40.00 | 41.50 | 1.50 | 2.80 | ||
* All samples collected were analysed utilizing ACME Analytical Labs of Vancouver, BC, Canada and were subject to a 36 element ICP-MS analysis
David Wiley, CEO of Touchstone Gold, commented, "We are very pleased with the promising assay results of our trenching programme in the Tagual Area. These confirm that there is potential for significant gold mineralization to the east of Pepas and Filodehambre, where our drilling programme has focused to date. We look forward to drill-testing in the area shortly, to better understand the extent of the mineralization. To this end, we have commissioned a third drill, which we expect to arrive on site by year-end, confirming our commitment to our intensive drilling programme to prove the area's potential."
The Tagual South target measures approximately 1,000 metres north to south and up to 400 metres east to west. A series of 6 trenches were put in along strike to test for the potential source of the gold geochemical soil geochemical anomaly. The Company used pre-existing roads to gain access to the trenching area, and therefore, only sampled the outer edges of the gold anomaly (see Figure 1). As a result only 600 metres of the 1,000 metre gold geochemical soil anomaly have been tested to date. Trenches excavated were on average 3-4 metres deep, 1.5 metres wide, and 40-50 metres in length. All trenches were dug in an east to west manner in order to intersect the projected strike of the gold geochemical anomaly running north to south.
With the recent success of the auger soil sampling programme and the follow-up trenching programme at Tagual South, the company has expanded its auger soil sampling programme to cover off favourable areas of interest both to the east of Tagual and to the northern part of the property where recent prospecting located additional small exploration adits with quartz bearing dump rocks.
Moreover, the company has finalized the next stage of its drill plan (see Figure 2) which will begin to test the extent of the gold bearing quartz veins in Tagual South zone. The Company will also soon be drilling the Tagual North zone which returned similar gold geochemical anomalies to Tagual South through the auger soil sampling programme.
For figures 1-2, please click on the link below:http://www.rns-pdf.londonstockexchange.com/rns/8470S_-2011-11-27.pdf
Further Information
Mr. John Nicholson, P.Geo has reviewed and approved the technical information contained within this announcement in his capacity as a qualified person, as required under the AIM rules. Mr. Nicholson is chief geologist of the Company and is a Fellow of the Royal Geographical Society, has a BSc. from the University of British Columbia, and has been an accredited member of the Association of Professional Engineers and Geoscientists of British Columbia since 1992. Mr. Nicholson is supervising the work programmes on the Rio Pescado Project.
For further information please contact:
Touchstone Gold
David Wiley Tel. +1 647 260 1247
Chief Executive Officer
Collins Stewart Europe Limited
John Prior Tel. +44 20 7523 8350
Seb Jones Tel. +44 20 7523 8350
Merlin
Ian Middleton Tel. +44 20 7726 8400
Anca Spiridon Tel. +44 20 7726 8400
About Touchstone Gold
Touchstone is a gold exploration company and the 100% owner of the Rio Pescado Project in Colombia, comprising four concessions over a total area of 39 square kilometres in the highly prospective Segovia Gold Belt. With a philosophy of creating value by the systematic exploration and development of the Company's existing assets as well as the acquisition of suitable exploration and development mineral projects, the Company's long-term intention is to build a significant gold exploration and production company.