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Tawsho announces successful completion of summer drill program

Tuesday, Jan 08, 2013

Tawsho Mining Inc. (TSX VENTURE:TAW) is pleased to report the results from its 2012 drilling campaign on its Whisker Valley property located on the Baie Verte Peninsula, northwest Newfoundland. A total of 11 holes were drilled in 2012 totaling 2581metres of core. Previous drill and trenching campaigns had identified significant gold intersections at two localities: i) the Road Pit showing and ii) the White Face Hill showing (formerly called New Discovery Showing). The objective of the 2012 drill campaign was to test and extend these showings both with depth and length.

The Road Pit Showing:

Gold mineralization in the Road Pit Showing is exposed at surface in trenches as steeply dipping gold bearing quartz veins containing finely disseminated and stringer sulfide minerals and hematite. The Au-bearing quartz veins sampled in trenches (see press release dated February 9, 2012) and in core drilled in 2010 and 2011 (see press releases dated August 22, 2011 and November 17, 2010) had variable grades across the width of the vein, but channel samples 1m in width taken along the length of the vein returned weight-averaged values of 8.68 gpt over 12.5 length for the vein exposed NW of the road and 7.26 gpt over 10 length for the main vein in the pit SE of the road.

Hole WK12-01 was drilled to test the depth extension of the two veins described above. This drill-hole intersected breccia containing angular reddish hematitized quartz monzonite fragments and several intervals containing quartz and highly silicified fragments hosting finely disseminated pyrite and traces of chalcopyrite. Structures resembling cockade and pseudo-crustiform open spaces and vuggy intervals partially filled with quartz crystals, carbonate minerals hematite and banded chalcedony were locally observed in the core. These textures and breccia structures are indicative of epigenetic low sulfidation hydrothermal activity. Quartz veins hosting Au-bearing pyrite and pyrite-chalcopyrite-galena bearing veins seen at surface were not observed in the core. Instead gold mineralization occurs within the vuggy breccia interval containing trace amounts of pyrite and chalcopyrite hosted by the silicified quartz monzonite and isolated hematite bearing quartz vein fragments.

The second hole WK12-03 located 130 metres SW from hole WK12-01 was drilled to extend the westward extent of the veins exposed in the trenches. This hole throughout its length only intersected slightly altered phaneritic quartz monzonite and did not intersect the veins that were expected to be present on basis of their structural orientation as seen in trenches and projected to the section intersected by the drill hole. The core was well sampled at all alteration intervals. Even though quartz veinlets and chlorite bearing fractures were present in the altered quartz monzonite/granodiorite they did not contain any gold.

Source: Marketwire

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