Tintina Resources' Black Butte Copper Project Obtains Approval for Exploration Decline
16 Janeiro 2014 - 5:36PM
Marketwired
Tintina Resources' Black Butte Copper Project Obtains Approval for
Exploration Decline
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 16, 2014) -
Tintina Resources Inc. ("Tintina" or the "Company")
(TSX-VENTURE:TAU)(OTCQX:TINTF) is pleased to announce that it has
received final approval today from the Montana Department of
Environmental Quality ("MT DEQ") for construction of a 5,000 foot
long underground exploration decline which will access the
high-grade Johnny Lee copper deposit located on the Company's 100%
owned Black Butte Copper Project north of White Sulphur Springs,
Montana, USA.
Tintina can now continue its pre-development effort by
constructing an exploration decline to access the Johnny Lee copper
deposit, which contains measured and indicated resources of 910
Million lbs of copper with an average grade of 3.57% Cu. The
proposed decline will enable the Company to complete further
evaluation and test work while conducting a feasibility study on
the Johnny Lee deposit.
"We are committed to doing this project right from beginning to
end. The review process was thorough and comprehensive in nature.
The Montana Department of Environmental Quality looked at all
aspects and potential impacts of the decline and addressed each
appropriately," shared Jerry Zieg, Vice President of Exploration
for Tintina. "Our work in obtaining this permit shows that we can
successfully access this valuable natural resource while
simultaneously protecting the environment."
"Our Project is a High Quality Copper Resource Located in North
America," Stated Bob Jacko, Tintina's Vice President of Operations.
"The Decline Will Provide Vital Information Needed in Determining
the Best Approach to Mining Our Copper Resource and Will Help the
Local Economy During Construction. This All Leads to Our Ultimate
Goal of a Fully Operating Mine With 200 Full Time Employees."
Rick Van Nieuwenhuyse, Executive Chairman of Tintina, is
optimistic about the next phase of work. "By obtaining approval for
the decline, we can now advance to the next stage of development by
planning for the exploration decline and initiating a feasibility
study on the Johnny Lee upper and lower deposits. We have been in
discussions with existing shareholders and new potential investors
to position the Company appropriately to accomplish these two
important objectives."
The Johnny Lee copper deposit contains measured resources of
2.66 Million lbs of copper with an average grade of 2.99% Cu and
indicated resources of 8.91 Million lbs of copper with an average
grade of 3.74% Cu. Readers are encouraged to review the Updated
Technical Report and Preliminary Economic Assessment for the Black
Butte Copper Project, Montana dated July 12, 2013, which is
available on SEDAR, for additional information regarding these and
the other estimated resources on the Black Butte Project.
Tintina also announces that the exercise price of the stock
options previously announced on December 23, 2013 has been
increased to $0.17 per share.
ABOUT TINTINA RESOURCES INC.
Tintina Resources Inc. is a growth company focused on the
exploration, development, and mining of its 100% owned flagship
property, the Black Butte Copper project in central Montana, USA. A
Feasibility Study (FS) on the Black Butte Copper project is
anticipated to commence during 2014. The Company is led by a highly
experienced executive management team that has a successful track
record of building shareholder value through exploration, corporate
finance, and mine development.
ON BEHALF OF THE BOARD OF DIRECTORS
Gerald G. Booth, Interim CEO
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 release.
Jerry Zieg, Vice President of Exploration for the Company, is a
Qualified Person for the purposes of NI 43-101 and has also
reviewed and approved the information of a scientific or technical
nature contained in this news release.
Cautionary Note Regarding Forward-Looking Statements:
Certain disclosures in this release, including statements
regarding the Company's plans for and intentions with respect to
exploration and development of the Black Butte Copper project and
the results thereof, the continuation of pre-development efforts,
construction of an exploration decline, the preparation of the a
feasibility study and other plans and objectives of the Company
with respect to the Black Butte Project and surrounding area,
constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
Canadian securities legislation. In making the forward-looking
statements in this release, the Company has applied certain factors
and assumptions that the Company believes are reasonable, including
that the Company is able to obtain any government or other
regulatory approvals and any financing required to complete the
Company's planned exploration and development activities, that the
Company's exploration and development activities on the Black Butte
Copper Project will not be affected by actions of environmental
activists or other special interest groups, and that no unforeseen
accident, fire, ground instability, flooding, labor disruption,
equipment failure, metallurgical, environmental or other events
that could delay or increase the cost of development will occur.
However, the forward-looking statements in this release are subject
to numerous risks, uncertainties and other factors relating to
Tintina's operation as a mineral exploration and development
company and the Black Butte Copper Project may cause future results
to differ materially from those expressed or implied in such
forward-looking statements. Such uncertainties and risks include,
among others, actual results of the Company's exploration
activities being different than those expected by management,
uncertainties involved in the interpretation of drilling results
and geological tests, delays in obtaining or inability to obtain
required government or other regulatory approvals or financing,
interference with Tintina's exploration or development activities
by environmental activists or other special interest groups, of
accidents, labor disputes, and unanticipated delays in obtaining
governmental approvals and completing other development activities,
the risk that estimated costs will be higher than anticipated and
the risk that the proposed mine plan and recoveries will not be
achieved, and bad weather. There can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Readers are cautioned not to place undue reliance on
forward-looking statements. Tintina does not intend, and expressly
disclaims any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
Tintina Resources Inc.(604) 628-1162(604)
628-1163info@tintinaresources.comwww.tintinaresources.com
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