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Tumi Resources Limited - Tumi Consolidates Phoenix Property Position in Mexico and Defines Large Multi-element Geochemical Targets
Tumi Resources Limited - Tumi Consolidates Phoenix Property Position in Mexico and Defines Large Multi-element Geochemical Targets.
About this update from Kingsmen Resources Limited
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Nov. 30 /CNW/ - Tumi Resources Limited (\"Tumi\" and/or the\n\"Company\") (TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). David Henstridge,\nPresident, is pleased to announce that geochemical sampling within the 100%\nowned Phoenix claim has defined at least four distinct horizons, displaying\nanomalous geochemistry that strike for at least 1.75 km and remain open.\nPhoenix is located near Caborca, Sonora, Mexico.\nThe Company has for the last few months undertaken a systematic gridding\nand rock/soil sampling program on the Phoenix claim. To date, an area roughly\n1.5 km east-west by 3.5 km north-south has been gridded from which\n1,872 samples have been taken and analyzed. The lines are spaced either 50 m\nor 100 m apart east-west with stations placed every 20m along the lines. The\ngrid will be extended another 1.4 km to the western boundary of the property\nbefore proceeding to the east.\nPhoenix is underlain by Mesozoic age volcanic and sedimentary rocks\ncovered by a gently dipping alluvial plain. The bulk of the samples are taken\nfrom rock as the soil cover is sparse and poorly developed. Multi-element ICP\nanalyses have shown a strong correlation between arsenic, silver, lead, zinc,\nand to some extent antimony, along hematite and carbonate altered horizons. It\nis believed that up to four distinct, sub-parallel horizons exist over a\nstrike length of 1.75 km and over a width of 1.5 km. Gold has not been\nanalyzed in these samples for cost purposes; it has been demonstrated from\nprevious sampling that gold has a strong correlation with the elements\nmentioned above.\nThe Company is also pleased to announce the signing, through its 100%\nowned Mexican subsidiary, TMXI Resources S.A.de C.V. (\"TMXI\"), an agreement\nfor the right to acquire a 100% interest in the San Carlos gold/silver\nproperty (the \"San Carlos Claim\"). Pursuant to the Agreement, TMXI will have\nthe right to acquire 100% of the San Carlos Claim from a private Mexican owner\nby making cash payments of USD $175,000 over a four year period with the\npayment in the first year being USD $12,500. The San Carlos Claim is contained\nwithin the boundaries of the 4,106 hectare Phoenix claim.\nAt least two of the horizons mentioned above have been identified on the\nSan Carlos Claim that lies at the SW end of the gridded area. Within these\nshear...