Tigray Resources Inc.: Initial Drilling at VTEM09 Intersects 10.69 Metres at 3.47% Copper, 4.2 Grams Per Tonne Gold, 3.69% Zinc, and 91 Grams Per Tonne Silver, Harvest Project, Northern Ethiopia

 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 23, 2013) - Tigray Resources Inc. (TSX VENTURE:TIG) ("Tigray" or the "Company") is pleased to announce assay results from preliminary diamond drill-hole tests of the VTEM09 VMS Prospect on the Harvest Property and the Adi Gozomo Gold target on the Adyabo Project, in Northern Ethiopia. Single diamond drillholes tested both targets as an initial appraisal of prospectivity.

The results include:

  • 10.69 metres grading 3.47% copper, 4.2 grams per tonne gold, 3.69% zinc, and 91 grams per tonne silver from 19.81 metres, including 3.06 metres grading 5.75% copper, 8.00 grams per tonne gold, 0.70% zinc, and 107 grams per tonne silver (TVD001), at VTEM09

  • 7.5 metres grading 2.04 grams per tonne gold from 15.1m (AD001) at Adi Gozomo.

VTEM09

The high-grade copper and precious-metal enriched VMS mineralization intersected by TVD001 compares favourably with the metal tenor encountered at the Terakimti and Mayshehagne discoveries, and marks the third significant VMS discovery made at Harvest.

The VTEM09 prospect, located 5 kilometres ENE and along strike of Terakimti, was identified by an Airborne VTEM survey, and is characterized by a >200m strike length bedrock conductor. VTEM09 was further defined through mapping, soil sampling and trenching (refer to Tigray's news release dated Jan 24th, 2013), and is interpreted to be a southwest-dipping, eastward-plunging mineralized VMS shoot. Additional drilling is required to test this prospect along strike, down dip and down plunge.

Adi Gozomo

One short diamond drillhole was targeted below the main artisanal workings, and encountered gold mineralization associated with the upper contact of a granodiorite hosted within mafic volcanic rocks. As the results to date indicate that gold mineralization appears directly proportional to the amount of pyrite present, additional ground exploration will be required prior to further drill testing at Adi Gozomo.

Diamond Drill Hole Results

DDH ID From (m) To (m) Interval (m)* Copper (%) Au (g/t) Ag (g/t) Zn (%) Prospect
TVD001 19.81 30.50 10.69 3.47 4.20 91 3.69 VTEM09
including 21.34 24.40 3.06 5.75 8.00 107 0.70
AD001 15.10 22.60 7.501 0.00 2.04 0 0.00 Adi Gozomo

* Intersection true widths are estimated at 60-90% of interval stated.

1 Insufficient data present to determine a true width estimate

Click here for maps and tables

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 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 (Acme R200-1000package). 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. Duplicate samples are inserted into the sample stream to both monitor laboratory performance and also characterize potential mineralization.

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 approximately 199 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa. The Company also entered into an agreement to acquire up to an 80% interest in the Adyabo property covering 486 square kilometres immediately west of the Harvest project. Tigray's shares trade on the TSX Venture Exchange under the symbol TIG.

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; 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; the demand for gold; 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.



Tigray Resources Inc.
Nick Watters
Business Development
604-488-9582
investors@tigray.ca
www.tigray.ca