Tumi Resources Limited - Tumi confirms down-plunge extension of the historic Sala silver mine mineralization, Bergslagen, Sweden
TSXV - TM
Frankfurt - TUY
Pink Sheets - TUMIF
VANCOUVER, May 8, 2012 /CNW/ - Tumi Resources Limited (the "Company") (TSXV:TM) (Pink Sheets:TUMIF) (Frankfurt:TUY). Mr. David Henstridge, President, announces that the results from this year's drilling program at the Company's 100% owned Sala project, located in the Bergslagen District of Sweden, have now been received.
Sala, now a historical mine site, was once Europe's largest silver producer and was in continuous production between the late 15'th century and 1908. Additional mining occurred at Sala during 1948-52 and between 1945 and 1962 in the adjacent Bronas mine. Historical records indicate that >200 million ozs of silver were recovered from Sala with grades as high as 7,000 g/t (Tegengren, 1924). The sulphide mineralization is hosted in dolomitic marble and occurs dominantly as silver associated with galena and to a lesser extent as complex antimonides, sulphosalts and native silver. The host rocks have been folded and faulted with the underlying metamorphosed felsic volcanics and pyroclastics. The series of shafts along the Sala mineralized trend, more or less, in a north-south direction, apparently controlled by fold structures plunging gently to the north. Longitudinal sections indicate that the mineralized zone at Sala (as indicated by mined-out workings) also plunges gently to the north.
The Sala mine was closed in 1909 following a year-long strike when the water in the mine rose to the mine's 160 meter level. Although previous owners drilled some short holes on the upper levels and mined some zinc at the southern end, no modern exploration has been undertaken to test for possible extensions of this mineralization down-plunge to the north. It should be noted that neither the work being undertaken by Tumi nor any potential future mining activities will affect any of the activities of the tourist mine. Tumi has received permission and is drilling from the underground workings of the adjacent Tistbrottet dolomite mine which puts the drill site within 250 meters of the possible down-plunge extension of the Sala mineralization.
The first drill hole, SAA12-009, intersected a six metre wide zone of mineralized dolomite containing pyrite, pyrrhotite, sphalerite and galena. This mineralized zone occurs within a much wider zone of disseminated sulphides that is believed to reflect the down-plunge extension of the Sala mine mineralization. The best assay results are as follows:
Mr. Henstridge stated "I am very encouraged by the discovery of what appears to be the down-plunge extension of Sala style mineralization. To further test this area of interest, the Company is in the process of completing two further holes to intersect this zone about 50 m above and 50 m below this drill hole".
The qualified person for Tumi's projects, Anders Hogrelius, a Member of the Australian Institute of Geoscientists, has visited the Sala Project in Sweden and has verified the contents of this news release.
On behalf of the Board,
David Henstridge, President & CEO
Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
For further information:
Mariana Bermudez at (604) 699-0202
or email: email@example.com
Investor Information Contact:
Nick L. Nicolaas at (604) 657-4058
or email: firstname.lastname@example.org