- Published: 16 January 2009
- Written by Editor
Tri-Valley Identifies Significant Gold Intercepts in Excess of Four Grams per Tonne
Tri-Valley Corporation (AMEX:TIV) announced that its mineral subsidiary, Select Resources Corporation has retrieved historic ASARCO drill results on its Shorty Creek gold property located in the Livengood Mining District of Alaska some 70 miles north of Fairbanks next to the Elliot Highway.
Select's Shorty Creek property posts an 80-ft thick near-surface interval that averages over 2.2 grams gold per metric ton (gpmt), and within that interval is a higher-grade 30-ft interval averaging over 4.5 gpmt. In the same borehole, the lower 50-ft averages over 0.6 gpmt. At a depth of approximately 220-ft, the borehole terminated in gold bearing rock which is open downward.
These results include intercepts that compare favorably to those in data reported by International Tower Hill (ITH) from their property located just north of Shorty Creek. International Tower Hill is reporting approximately 4 million ounces of combined 2008 indicated and inferred gold resource, with a target of 10 million ounces.
Select's President, Jim Bush, said: "Shorty Creek's 30-ft interval compares favorably with some of the best intercepts drilled by ITH whose property is literally just across the river from our property. This is important. In 8 holes drilled before we had even defined the best surface anomalies, we matched some of the best holes drilled by ITH's definition drilling program that was 10 times the size of ours. While not conclusive, these results are extremely encouraging and, using the ITH program as our template, we are on track for similar size potential targets."
Select Resources is incorporating these data with geologic interpretations along with newer geochemistry to indentify additional drill targets planned for the summer drilling season.
Select is in discussions with other parties about more aggressive advancement of the property on which it has defined a gold mineralized trend along with potential co-products like copper and molybdenum.
Tri-Valley has been in business as a successful operating company since 1963, and has been a full reporting 12 (g) publicly traded Delaware Corporation since 1972. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended September 30, 2008, and the annual report on Form 10-K for the year ended December 31, 2007.
Contact:
Contact: Egan Gost Director of Public and Investor Relations 1-800-579-9314 Website Address: http://www.tri-valleycorp.com E-mail: Email Contact