Tournigan hits hot uranium in Slovakia (February 27, 2006)

Vancouver — Confirmation drilling at Tournigan Gold’s (TVC-V, TVCZF-O) Jahodna uranium-molybdenum project in eastern Slovakia delivered a pleasant surprise — higher-grade U3O8 values than previously indicated.

A 0.9-metre intercept in hole KG-J-1a, from 424 metres down-hole, returned an average grade of 10.33% U3O8 and 1.13% molybdenum. Previous gamma-log analysis of the mineralized interval indicated a grade of 2.12% U3O8 across 1.2 metres. The underestimation in the gamma-log results may have been caused by instrument detection limits or imprecise correlation of core intervals.

Previous exploration at Jahodna by the Slovak state uranium company, Uranovy prieskum, reviewed a historic “high-grade resource” of 1.2 million tonnes grading 0.54% U3O8 and 0.38% molybdenum, plus an additional “low-grade resource” of 1.1 million tonnes grading 0.22% U3O8 and 0.38% molybdenum. The 1996 resource estimates are not National Instrument 43-101-compliant.

Uranovy prieskum’s calculations modelled a mineralized body with dimensions of about 500 metres along strike, 500 metres downdip and 2.5 metres thick. The top of the resource block is about 150 metres deep.

Tournigan will use additional drill rigs at Jahodna for a 4,500-metre, second-phase drill program scheduled for the upcoming season. The company recently boosted the size of a bought-deal financing to $40 million.

In addition to Jahodna, Tournigan holds the Kozie Chrbty district and the Novoveska Huta uranium projects, both past-producers with historic resources. The company is also proceeding with two advanced-stage gold projects: Kremnica in Slovakia and Curraghinalt in Northern Ireland.