For Immediate Release - Vancouver, Canada: TLC Ventures (TLV.TSX Venture Exchange) is pleased to announce the commencement of the Phase 1 drill program on the 100% controlled Point Leamington zinc-gold-copper-silver massive sulphide deposit, located in north-central Newfoundland.
President and Chief Executive Officer, Dr. Sally L. Eyre stated: “The focus of the Phase 1 drill program will be to locate extensions of the known higher grade zinc-gold mineralization outside the current resource both at depth and along strike.”
Recorded high grade intercepts on the property by previous operators Noranda Inc. and Rubicon Minerals Corporation (see News Release, dated February 16, 2004) include 3.66 metres of 5.44g/t gold and 9.25% zinc (drill hole 73-40) and 11.58 metres grading 3.84 g/t gold and 11.82% Zn (drill hole 73-36).
The Phase 1 drill program is being managed by Vancouver-based, Equity Engineering Limited. It is expected that the drilling portion of the Phase 1 program (approximately 3200 metres) will take approximately two months to complete.
The primary objectives of the Phase 1 drill program include:
- to expand high grade mineralization in the main deposit area by defining the trend of the higher grade zinc and gold mineralization down plunge to the north;
- to explore the potential for “stacked” massive sulphide horizons stratigraphically below the main sulphide zone;
- to expand the newly discovered massive sulphide zone in drill hole PL-072, located 275 metres south of the south margin of the main deposit.
In conjunction with the Phase 1 drill program on the Point Leamington massive sulphide deposit, borehole transient EM surveys will be conducted. The successful detection of both in-hole and off-hole responses may lead to new drill targets and the discovery of additional massive sulphide mineralization separate from the main deposit.
The results of the Phase 1 drill program will be released by the Company during the first quarter, 2005 following sample analyses and data interpretation.
TLC Ventures is an exploration and mine development Company, focused on the acquisition, advancement and development of global precious and base metal assets. Gold Fields (through a wholly-owned subsidiary) is a significant equity owner in TLC Ventures controlling an approximate 9.5% equity interest in the Company. For further information on TLC Ventures Corp. and its properties, please visit TLC’s website at http://www.tlcventurescorp.com.
TLC VENTURES CORP.
‘Signed Sally L. Eyre’
Dr. Sally L. Eyre
President and CEO
For more information contact TLC Ventures Corp. Tel: 604 681 9944. E-Mail: firstname.lastname@example.org
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TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.