VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 7, 2014) - The following news release replaces the one disseminated at 6:00 AM ET, April 7th, 2014. Correction to drill zone interpretation. Interpretation of Upper Lode in WMD012 was incorrect. This mineralized zone is interpreted to be the Main Lode, which is now reflected in the amended and restated news release below.
At Silica Hill, Upper Lode mineralization and alteration is now defined to 150 metres vertical depth below surface, remains open at depth, and has been defined on two sections 80 metres apart. The tenor (gram-metres) of Upper Lode mineralization and intensity and volume of alteration increases to depth on both sections. Step out drilling, initially along strike to both the north and south at Silica Hill, is required to test the near surface potential of this discovery.
At Mato Bula South, Phase 2 drilling has extended the mineralization at depth and 80 metres south of previous drilling.
Both Silica Hill and Mato Bula South are part of the Mato Bula Trend, a mineralized corridor now defined over 8 kilometres in strike length. Gold-copper mineralization is interpreted to be part of a porphyry style Cu-Au system containing porphyry-style mineralization, high-grade Au-Cu quartz veins and possible replacement styles of mineralization.
Other significant targets previously identified along strike include:
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Mato Bula North approximately 1 kilometre northeast of Mato Bula where a one hole test into the interpreted carapace of a porphyry intrusion intersected 17.35 metres grading 1.65% copper and 0.40 grams per tonne gold from 53.80 metres drill depth (WMD001 - hole abandoned before full test of drill target) (refer to Tigray's news release dated July 16, 2013); and
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Da Tambuk approximately 4 kilometres northeast of Mato Bula where a four hole test yielded best results of 12.00 metres at 17.34 grams per tonne gold and 0.32 percent copper from 52.75 metres drill depth (refer to Tigray's news release dated March 11, 2014.
Andrew Lee Smith, President and CEO of Tigray stated, "Our continued success in identifying new discoveries and robust drill intersections is a testament to the potential for significant discovery that this region of Ethiopia possesses."
Mato Bula Phase 2 Diamond Drill Intercepts
| Hole ID | | From (m) | To (m) | Interval (m)1 | Gold
grams/
tonne
2,3 | Copper % | Zone | Local Azimuth | Dip |
| WMD007 | | 179.75 | 207.95 | 28.20 | 8.50 | 0.24 | Upper/
Main | 274 | -46 |
| including | 189.25 | 206.80 | 17.55 | 13.18 | 0.27 |
| and including | 195.80 | 206.80 | 11.00 | 19.55 | 0.35 |
| WMD008 | | 77.20 | 105.00 | 27.80 | 1.81 | 0.07 | Upper/
Main | 279 | -50 |
| including | 94.60 | 98.60 | 4.00 | 5.75 | 0.04 |
| WMD009 | | 164.20 | 179.07 | 14.87 | 4.49 | 0.04 | Upper/
Main | 273 | -48 |
| including | 166.40 | 174.30 | 7.90 | 7.95 | 0.05 |
| WMD010 | No Significant Intervals | | 272 | -46 |
| WMD011 | | 97.40 | 101.45 | 4.05 | 1.24 | 0.51 | Main | 274 | -45 |
| | 126.25 | 140.23 | 13.98 | 2.28 | 0.74 | Upper |
| including | 131.45 | 136.88 | 5.43 | 4.88 | 0.82 |
| WMD012 | | 105.62 | 118.60 | 12.98 | 4.40 | 0.87 | Main | 272 | -45 |
| including | 105.62 | 108.72 | 3.10 | 17.08 | 3.05 |
| | 141.40 | 142.40 | 1.00 | 14.60 | 0.08 | |
| 1 True thicknesses are interpreted as 65-90% of stated intervals. |
| 2 Intervals use a 0.3 g/t cutoff value. |
| 3 No top cut has been used on assay values. |
Click here to view a Map of the Mato Bula Drill Hole Locations
Quality Control
The planning, execution and monitoring of Tigray's quality control programs at the Harvest project are under the supervision of Jeff Heidema, P.Geo., Tigray's Vice President Exploration. Mr. Heidema is a Qualified Person as defined by National Instrument 43-101. Diamond drill core samples and trench samples have undergone preliminary preparation at the Acme Laboratories facility in Ankara, Turkey, and are crushed to 80% passing 10 mesh, and pulverized to 85% passing 200 mesh (PRP70-1KG package). Analyses are conducted at Acme Laboratories in Vancouver, Canada, utilizing Aqua Regia digestion and ICP-ES for base metal and silver analyses. Gold analyses are conducted via Fire Assay Fusion with AA finish, and gravimetric analyses are completed for over-limit samples. Blanks and certified reference standards are inserted into the sample stream to monitor laboratory performance. For core, duplicate samples are inserted into the sample stream to both monitor laboratory performance and also characterize potential mineralization.
Qualified Person
Mr. Heidema has reviewed and approved the scientific and technical information contained in this news release.
About Tigray
Tigray is a Canadian mineral exploration company focused on discovery through advancing early-stage mineral projects in Ethiopia. Tigray's key property is the 70%-owned Harvest polymetallic VMS exploration project, which covers 155 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa. The company has an option to earn an 80% interest in the Adyabo property covering 418 square kilometres immediately west of the Harvest project. Tigray's shares trade on the TSX Venture Exchange under the symbol TIG.
Tigray and East Africa Metals Inc. ("East Africa") (TSX VENTURE:EAM) have jointly announced that they have entered into a definitive agreement pursuant to which East Africa has agreed to acquire all of the issued and outstanding common shares of Tigray (other than the Tigray shares East Africa currently owns). The transaction will be implemented by way of a statutory Plan of Arrangement under the Canada Business Corporations Act (refer to Tigray's news release dated February 24, 2014).
More information on Tigray Resources Inc. can be viewed at the company's website at www.tigray.ca.
On behalf of the Board of Directors:
Andrew Lee Smith, P.Geo.
President, CEO and Director
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "expect", "intend", "estimate", "forecast", "project", "budget", "schedule", "may", "will", "could", "might", "should" or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates, including the initial mineral resource for the Harvest Project; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in the Company's listing application dated August 18, 2011.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of gold, silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
