For Immediate Release – Vancouver, Canada: Dr. Sally Eyre, President and CEO of TLC Ventures Corp. (TLV.TSX Venture Exchange) is pleased to provide an update on the Company’s proposed exploration program on the 100% controlled Point Leamington zinc-gold-copper-massive sulphide deposit, located in northcentral Newfoundland.
An independent mineral resource estimate on the Point Leamington zinc-gold-copper massive sulphide deposit was completed in March 2004 by Hatch Associates Limited ‘Hatch’ of Vancouver, BC, under the direction of Mr. Callum Grant, P.Eng., an independent qualified person as defined by National Instrument 43-101. The Point Leamington deposit contains an inferred resource (above a 1.00% zinc cutoff grade) of 12,300,000 tonnes grading 1.92% Zn, 0.88g/t Au, 0.28g/t Cu and 16.94g/t Ag containing 348,000 ounces of gold and 520 million pounds of zinc (see News Release dated March 30, 2004). The resource is open for expansion and was based on drill core assay results from a total of 72 holes totaling 20,714 metres of drilling completed by Noranda (1971-1997) and Rubicon Minerals Corporation (1999–2000).
Following completion of the Hatch resource estimate, a fall exploration program was recommended. The proposed program includes; approximately 3200 metres of diamond drilling, downhole geophysics and metallurgical investigations. The massive sulphide mineralization at Point Leamington responds well to geophysical surveys, so geophysical anomalies in the deposit area will also be drill tested. The program will be managed by Equity Engineering Limited and it is expected that the drilling portion of the program will commence in early October 2004 and will take about two months to complete.
Dr. Sally Eyre stated: “The main focus of the Point Leamington drill program will be to locate extensions of the known higher grade Zn-Au mineralization outside the current resource both at depth and along strike. In addition to the Point Leamington program, the Company continues to actively seek new project acquisitions along with its major shareholder and strategic partner, Gold Fields. With 19.15 million shares issued and outstanding and approximately C$6.5 million in working capital, TLC Ventures is well positioned to capitalize on the acquisition of additional mineral resources on a world-wide basis”.
TLC Ventures is an exploration and mine development Company, focused on the acquisition, advancement and development of global precious and base metal assets. 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.
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.