Timmins Gold Corp. (TMM, TSX-V) announces results of a first phase reverse circulation drill program on geological, geochemical and geophysical targets at the Norma gold-silver property. The property comprises a 15,687 Ha exploration concession, and is 100% owned by Timmins Gold. The Norma property is located approximately 20 km NW of the Company's San Francisco mine and surrounding exploration lands, and approximately 40 km SE of Capital Gold's El Chanate mine, both of which are located within the highly prospective Sonora-Mojave Megashear structural province in northern Sonora, Mexico.
Highlights of the assays received from the 2,090 meters of drilling in 16 reverse circulation drill holes completed during December, 2010 include the following:
Numerous historical prospects have been identified within a NW-trending corridor within the property boundary. Numerous drill targets, including those drilled during this initial drill phase, have been identified on the basis of geological, geochemical, and geophysical surveys. Target criteria have been generated from the Company's geological understanding of the district. These criteria are based on experience gained from operating and exploration success at the San Francisco gold mine and surrounding areas, located approximately 20 km SW of Norma, in a very similar geological environment.
Drilling was carried out in approximately 250 meter spacings over a 2 km strike length of altered and geochemically-anomalous outcrops consisting of metasedimentary rocks intruded by dykes, sills, and quartz stockworks. Numerous historical workings have been excavated within silicified zones.
Timmins exploration staff are highly encouraged by the results of the recent drill program. The discovery of mineralization at a distance of 20 km from the San Francisco mine along a major structural trend provides evidence of the potential of the area. The tenor of the assay results from this first phase of drilling, combined with the similarities between the geological setting and style of mineralization at Norma and the Company's San Francisco mine, indicate that follow-up drilling both along strike and as infill drilling is clearly warranted.
The following table shows the significant mineral interceptions of the drill program on the Norma property.
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Timmins Gold Corp is a gold production and development company. In April 2010, Timmins Gold commenced commercial production at its wholly owned San Francisco gold mine in Sonora, Mexico. Timmins Gold has projected production at a rate of approximately 100,000 ounces of gold per year at a life of mine cash cost of approximately $489 per ounce. (Micon International Preliminary Feasibility Study, November 2010).
This press release was reviewed and prepared by Lawrence A. Dick, Ph.D., P.Geo, a director of the Company, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101 and by Miguel Soto, P. Geo., a director and the COO of the Company. For further information contact Timmins Gold Corp. at 604-682-4002 or go to the website at www.timminsgold.com.
On behalf of the Board: