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Tornado Gold International Corp. (OTCBB:TOGI) (The
Company) announces today the acquisition of an additional 10 highly
prospective gold properties in North Central Nevada.
Dr. Earl W. Abbott reports:
Tornado Gold is pleased to announce that it has leased 10 highly
prospective claim blocks all of which are located in the highly
prolific North Central Nevada area. This property package combined
with Tornado's existing properties creates a total of 15 properties
comprised of about 44,840 acres all located in the North Central
Nevada area. Management believes that this acquisition provides the
company with a significant and prominent package of claims in the
world's premier gold producing region.
"This acquisition completes phase two of our strategic plan,"
stated Tornado president Earl Abbott. "Firstly, we put together our
team, including myself, Carl Pescio, and Stan Keith, creating one of
the most capable and experienced exploration groups in Nevada.
Secondly, we wanted to acquire a significant property asset base in
North Central Nevada, in our view, the very best place on earth to
discover gold. With this acquisition we believe we have just
accomplished that goal. The North Central Nevada area, roughly 300
km. by 300 km. is home to numerous producing gold mines, including
Barrick's Goldstrike Mine on the Carlin Trend, Newmont's Twin Creek's
Mine on the Getchell Trend, and Placer Dome's Pipeline Mine on the
Eureka-Battle Mountain (Cortez) Trend. In our opinion, it is arguably
the world's most prolific gold producing area when measured by gold
production per acre. In our estimation, our portfolio of about 44,840
acres makes Tornado Gold one of the largest junior exploration
companies in the region. Our next two phases of development will be
to advance the properties by identifying and prioritizing the very
best drill targets and then drill those targets."
The Properties:
Brock Property
A total of 222 lode claims (about 4,440 acres) in Eureka County,
Nevada comprise the Brock Property. It is located in the Monitor
Range, about 36 miles southwest of Eureka, Nevada. It is also about
24 miles northeast of the Northumberland Mine where Newmont Mining
Company is developing a gold resource to augment the more than
200,000 ounces of gold already produced there by previous operators.
The geologic setting at Brock is similar to Northumberland with
alteration and mineralization occurring in the Lower Plate/Eastern
"carbonate" assemblage of the Roberts Mountains Thrust Fault. At
Brock alteration/mineralization in the form of jasperoid is
widespread throughout the carbonate assemblage.
Dry Hills Property
A total of 96 lode claims (about 1,920 acres) in Eureka County,
Nevada comprise the Dry Hills Property. It is located in the Dry
Hills, about 20 miles southwest of Carlin, Nevada. The property is
underlain by Jurassic volcanic rocks and volcanic sediments are cut
by mineralized northeast-trending fracture zones.
Golconda Property
A total of 108 lode claims (about 2,160 acres) in Humboldt
County, Nevada comprise the Golconda Property. It is located in Rock
Creek Valley, about 12 miles east of Winnemucca, Nevada and near the
intersection of the Getchell Trend (more than 30 million ounces of
gold) and the north end of the Battle Mountain-Eureka (also known as
the Cortez) Trend (more than 20 million ounces of gold in this area).
Total gold resources are taken from a variety of operating company
publications. Mineralized Paleozoic formations and mineralized fault
structures are projected into the Golconda Property, but are covered
by younger alluvium and basalt.
Horseshoe Basin Property
A total of 50 lode claims (about 1,000 acres) in Lander County,
Nevada comprise the Horseshoe Basin Property. It is located in the
Fish Creek Mountains about 30 miles south of Battle Mountain, Nevada
and about 4 miles south of the McCoy and Cove deposits with combined
resources of 4.5 million ounces of gold and 165 million ounces of
silver. Triassic sedimentary rocks are intruded by both Jurassic and
Tertiary igneous intrusive rocks, producing precious metal-bearing
skarn. At Horseshoe Basin, an erosional window exposes various
intrusive rocks that contain alteration and mineralization with
quartz veins containing values to as high as 0.35 ounce per ton gold.
Marr Property
A total of 93 lode claims (about 1,840 acres) in Lander County,
Nevada comprise the Marr Property. It is located between the Fish
Creek Mountains and the Ravenswood Mountains about 50 miles southwest
of Battle Mountain, Nevada. The property is along the Western Nevada
Rift, host to the Sleeper deposit that has a recorded production of
1.68 million ounces of gold at less than $100 per ounce production
cost. At Marr, northeast-trending fractures control a 2 mile long and
3,000 feet wide system of mineralization and alteration in the form
of silicification and brecciation with surface grab samples reported
as high 0.10 ounce per ton gold. Limited drilling by a previous
operator encountered gold mineralization to 0.03 ounce per ton.
North Battle Mountain Property
A total of 73 lode claims (about 1,460 acres) in Lander County,
Nevada comprise the North Battle Mountain Property. It is located in
the Sheep Creek Range, about 4 miles northeast of Battle Mountain,
Nevada, along the northern extension of the Battle Mountain-Eureka
(Cortez) Trend. Paleozoic rocks of the upper plate of the Roberts
Mountains Thrust Fault exposed in erosional windows through shallow
alluvium, are mineralized on the property in a similar fashion as at
White Knight Resources' Slaven Canyon property (approx. 100,000
ounces of gold resource) about 20 miles to the southeast.
South Lone Mountain Property
A total of 140 lode claims (about 2,800 acres) in Eureka County,
Nevada comprise the South Lone Mountain Property. It is located on
the west flank of the Mountain Boy Range in Antelope Valley about 15
miles southwest of Eureka, Nevada. The property is covered by
alluvium that obscures Paleozoic sedimentary rocks. A Jurassic
igneous intrusive body is exposed in the nearby hills to the east.
Faults that are an extension of the Cortez Fault traverse the
property.
Stargo Property
A total of 257 lode claims (about 5,140 acres) in Nye County,
Nevada comprise the Stargo Property. It is located in the Monitor
Range about 45 miles southwest of Eureka, Nevada and about 20 miles
west of the Northumberland Mine. The geologic setting at Stargo is
similar to Northumberland with alteration and mineralization
occurring in the Lower Plate/Eastern "carbonate" assemblage of the
Roberts Mountains Thrust Fault and near altered intrusive igneous
bodies. At Stargo alteration and mineralization in the form of
jasperoid is widespread throughout the carbonate assemblage, near
altered igneous intrusive bodies, and along faults.
Walti Property
A total of 402 lode claims (about 8,040 acres) in Eureka and
Lander Counties, Nevada comprise the Walti Property. It is located in
Grass Valley about 62 miles south of Carlin, Nevada. An intersection
of important fault structures is covered by alluvium on the Walti
Property. Regional published geophysics suggests the presence of an
intrusive igneous rock body coincident with the intersection.
Paleozoic rocks that host gold deposits about 12 miles north are
believed to exist beneath the alluvium.
West Whistler Property
A total of 103 lode claims (about 2,060 acres) in Eureka County,
Nevada comprise the West Whistler Property. It is located on the west
flank of Whistler Mountain about 10 miles northwest of Eureka,
Nevada. Alteration and mineralization in the form of jasperoid is
developed in rocks of the Overlap assemblage of the Roberts Mountains
Thrust Fault on the flanks of an intrusive igneous body.
Please visit the company website at www.tornadogold.com to view
related property maps.
The properties were acquired through lease by the Company from
Pescio Exploration in a related party transaction. Mr. Pescio is a
Director of Tornado Gold, and this transaction was approved by
Tornado's Board of Directors. Please refer to the latest 8K filing
for complete details of this transaction.
Pescio Exploration is owned by Carl Pescio, a fourth generation
Nevadan, who has been in the Nevada gold exploration and mining
business for 32 years, both as a mining company executive and as a
private prospector. Carl Pescio in the last 14 years has been
acquiring properties and leasing them to a host of major and junior
mining companies, becoming what is believed to be the largest private
party claim owner in Nevada, surpassed only by Nevada's major mining
companies.
About Tornado Gold International Corp.
Tornado Gold focuses on the discovery of giant gold deposits
(greater than 7M ounces). To that end we have chosen Nevada - one of
the most prospective places on earth to find and exploit giant gold
deposits. Our exceptional team of proven explorers utilizes unique,
cutting-edge technology which we believe helps us to quickly and
precisely target the areas on the earth where these giant deposits
may lie undiscovered. Tornado Gold is headed by an experienced
management team with decades of collective experience contributing to
discoveries of significant ore-bodies.
Forward-Looking Statements: This document contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. All forward-looking statements are inherently uncertain as
they are based on current expectations and assumptions concerning
future events or future performance of the Company. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are only predictions and speak only as of the date
hereof. In evaluating such statements, prospective investors should
review carefully various risks and uncertainties identified in this
release and matters set forth in the Company's SEC filings. These
risks and uncertainties could cause the Company's actual results to
differ materially from those indicated in the forward-looking
statements.
Tornado Gold International Corp. (OTC Bulletin Board:TOGI)