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TUMI OPTIONS LA GLORIA GOLD-TUNGSTEN-TIN PROJECT, SONORA, MEXICO
Channel sample assays 32 m at 3.3 g/t gold, 958 ppm tungsten and 498 ppm tin
Vancouver, Canada ? Tumi Resources Limited (the ?Company?) (TSXV-TM; Pink Sheets ? TUMIF; Frankfurt - TUY). Mr. David Henstridge, President, is pleased to announce the acquisition of the La Gloria gold-tungsten-tin project located about 250 km by road east of Hermosillo, Sonora, and 47 km north of the Company's Mezquite property. Two contiguous mineral claims totalling 200 hectares have been optioned from a private Mexican owner. The agreement gives TMXI Resources S.A. de C.V. (TMXI), the Company?s wholly-owned Mexican subsidiary, the right to acquire 100% interest for a total of US$1,330,000 over 5 years of which US$30,000 is payable in the first year. A 1.5% NSR is in place of which 0.5% can be purchased for US$500,000.
A report from 1959 states that La Gloria was discovered around 1955 by a group of Mexican prospectors. During a 3-week period in 1956, they reportedly produced 120 tons of 65% WO3 (tungsten oxide) using very crude mining and concentrating methods.
Several companies examined the property, but Union Carbide performed the most work, including mapping, minor blast-hole drilling and sampling over a 2 month period. A report by an engineer in 1957 stated that the property contained an estimated 208,000 tons of 1.5% WO3 and a potential 3 million tons of undetermined grade, requiring little or no stripping. These estimates are historical in nature and were compiled prior to the implementation of NI 43-101 reporting standards. Tumi has not completed sufficient exploration to verify the estimates and is not treating them as NI 43-101 defined resources or reserves verified by a Qualified Person; the historical estimate should not be relied upon.
La Gloria is hosted by a massive garnet-pyroxene skarn spanning an area of at least 600 m NE-SW by 300 m NW-SE and of undetermined thickness. Numerous trenches, pits and adits are found within this area, and the skarn is believed to continue for some distance to the east. A granodioritic to quartz monzonitic intrusive is in contact with the skarn along its southern and western boundaries. The skarn is locally strongly weathered to limonites and jarosite and contains visible pyrite. Scheelite (tungsten-bearing mineral) and molybdenite were noted in the historical records, as was the presence of gold, silver and copper.
As part of a due diligence process, Tumi conducted three campaigns of rock sampling for a total of 117 samples collected from the skarn, nearby intrusive and younger volcanics. At the main workings near the north end of the documented skarn body, a contiguous set of 16 channel samples (32 m) across strike averaged 3.3 g/t gold, 958 ppm (c. 0.1%) tungsten and 498 ppm (0.05%) tin. Highly anomalous bismuth was also noted in these samples. In this area, there is evidence of extensive surface workings extending more than 100 m in length and up to 50 m in width.
A trench near the eastern part of the skarn returned 17.3 m averaging 0.63 g/t gold, 0.23% copper and 467 ppm (c. 0.05%) tungsten, and near the south-central part of skarn, an adit located on marble averaged 724 ppm tungsten (0.07%) and anomalous gold over 10 m. Immediately west of this adit is a roadcut that exposes over 100 m of skarn that abuts the intrusive body along its western contact. This zone was sampled at 5 m intervals and yielded anomalous gold (up to 0.6 g/t) and locally anomalous tungsten. The anomalous tungsten interval was analyzed for tin as well and returned 390 ppm tin over 35 m. The remainder of this roadcut and the two workings described above have not yet been analyzed for tin. Highly anomalous levels of gold, tungsten and tin were discovered elsewhere, spread throughout the extent of the known skarn occurrences.
Mr. Henstridge stated: ?This acquisition is another significant step forward for Tumi?s activities in Mexico. The project was initially reviewed as a tungsten prospect particularly in light of the fact that, recently, several reports have identified tungsten and tin suffering possible critical supply shortages in the near future. The discovery of a significant amount of gold in the system is a big and very pleasant surprise. Our immediate work program will be detailed and regional mapping in the project area to define the limits of the skarn mineralization and continue sampling all prospective lithologies; this will advance La Gloria to the drill stage very quickly.?
The qualified person for Tumi?s projects, David Henstridge, a Member of the Australian Institute of Geoscientists, has visited the La Gloria property in Mexico, and has verified the contents of this news release.
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Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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