Timberline Resources Corporation (CVE:TBR,AMEX:TLR) reports the resumption of exploration and drilling at its South Eureka property.
The press release is quoted as saying:
The program will include a minimum of 30,000 feet of drilling, primarily focused on expanding and upgrading the mineral resource at the Company’s flagship Lookout Mountain Project. The program will also test several prioritized locations across the 23 square-mile property, ranging from zones known to carry significant gold mineralization to previously untested structural targets.
Timberline’s Chairman and CEO, Paul Dircksen says:
“Consistent assays and excellent recoveries from our 2010 field season confirmed prior exploration results, strengthening our belief in the potential for near-term development of a low capital, low operating cost, heap-leach gold mine at Lookout Mountain. We are currently conducting an internal scoping study to further evaluate and assess the economic sensitivities of the project. We are also expanding our exploration and drilling to other areas of the South Eureka property, many of which have the potential to host additional major gold deposits.”