Timberline Resources Corporation (TSXV:TBR,AMEX:TLR) announced significant assay drill results from its ongoing 30,000-foot drill program at the Lookout Mountain project near Eureka, Nevada.
The press release is quoted as saying:
These results are expected to substantially increase the Lookout Mountain NI 43-101 Measured and Indicated resource estimate(1) of 286,000 ounces of gold and the Inferred resource estimate(1) of 206,000 ounces of gold.
Timberline has, based on the positive drill results received to date, expanded its 2011 Drill Program for the Lookout Mountain Project and the greater South Eureka Property to include the addition of approximately 15,000 feet of drilling, for a total of 45,000 feet. This expanded drill program will focus on the following areas:
- Follow-up on the current drill results to substantiate potential resource expansion extending south of the Lookout Mountain resource area by approximately 1,000 feet;
- Follow-up on drill results in the South Adit Area with additional infill and extension drilling to expand the current strike extent, to serve as the basis for geologic modeling, and to generate a resource estimate for that area;
- Limited drill testing of targets outside of the Lookout Mountain area in order to initiate the generation of new resource centers within the South Eureka Property;
- Continue to drill test the west side of the Lookout Mountain resource area to further define the mineralized boundaries, establish potential pit boundaries, and define waste to ore boundaries.
Drill hole locations for past and future drilling may be viewed by referring to the maps at http://timberline-resources.com/main.php?page=194.
Timberline’s President and CEO, Paul Dircksen said:
“We are very excited by these results that demonstrate continuity and expansion of our resource to the south of Lookout Mountain toward the South Adit area at higher grades than we have seen in the past. These gold grades, mineral continuity, and positive metallurgical characteristics achieved to date strongly support our stated objectives of increasing the gold resource at Lookout Mountain and advancing the project toward development of a low cost, run-of-mine heap leach gold producer.”