Oct 13 2010
Tumi Resources Limited (TSXV-TM; Pink Sheets - TUMIF; Frankfurt - TUY). Mr. David Henstridge, President and CEO, announces that the Company will drill four of its projects as soon as drill contracts can be arranged. The projects to be drilled will be Mezquite in Mexico and Vitturn, Jonsmossen, and Tomtebo in Sweden.
Brief details of each of these projects are as follows:
Mezquite, Mexico: Tumi has recently optioned the Mezquite silver-lead-zinc prospect in Sonora where silver bearing galena has been discovered over a wide area within a favorable dolostone host rock. Sampling of pits in the project area has given very encouraging silver-lead-zinc values and a recently completed three-dimensional induced polarization survey (IP) totaling 11.7 line km has defined four significant chargeable zones spatially coincident with known surface workings and elevated geochemistry. An initial program of RC drilling to test the areas of workings and IP anomalies is planned.
Vitturn, Sweden: One of the better known historic mineral fields in the Bergslagen District is Stollberg where there are deep abandoned base-metal and silver mines. Numerous old mines and workings occur along this north-south trending belt over a distance of 12 km. The Company's 100%-owned Vitturn 1, 2 and 3 licences occur at the northern end of the district where the host mineralized sequence may occur under till cover. A gradient array IP survey undertaken in the licence areas, totaling about 19 line kms, has defined a significant chargeable and resistive anomaly trending NNW for about 400m. The source of this anomaly will be tested by drilling.
Jonsmossen, Sweden: The 100%-owned Jonsmossen licence is located at the southern end of the well known Stollberg mineral field referred to above. Two conductors were discovered by an airborne electromagnetic survey (EM) and have been subsequently confirmed by a ground IP survey. Geological analysis suggests these anomalies occur within the prospective Stollberg stratigraphic horizon extending from ground level to more than 100m below the surface. The source of these anomalies will be tested by drilling.
Tomtebo, Sweden: Recently, during detailed research of literature pertaining to the 100%-owned Tomtebo licence area, a report written by Birger Hellegren in 1983 was found detailing un-mined resources when the Tomtebo mine was closed. The mine was accessed by a 244m deep, 4.2m diameter shaft sunk between 1965 and 1968; the resources remaining between the surface and the 200m level are estimated at 385,000 tonnes grading 0.67% Cu, 1.84% Pb, 3.72% Zn, 0.66 g/t gold and 55 g/t Ag. The data is historical in nature and was compiled prior to the implementation of NI 43-101 reporting standards. Tumi has not completed sufficient exploration to verify the estimates and is not treating them as NI 43-101 defined resources or reserves verified by a Qualified Person; the historical estimate should not be relied upon. In 2007, the Company completed an IP survey at Tomtebo covering an area of 1,000m by 800m centered on an airborne EM anomaly. The IP survey supports the existence of the EM anomaly and, in addition, several previously unknown anomalies with high chargeability and low resistivity were detected. The data collected by the two geophysical surveys has been reviewed, modeled and interpreted by an independent geophysicist in Australia, and several potential drilling targets have been identified in proximity to the old mine. A drill program is proposed to test the remaining resources and to also test the source of the geophysical anomalies.
David Henstridge stated: "I look forward to being able to get all four of these projects drill tested as soon as possible. Over the next few weeks the Company will be raising sufficient capital to fund these programs".
The qualified person for Tumi's projects, David Henstridge, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has visited all of the projects in Mexico and Sweden and has verified the contents of this news release.