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Tumi Resources Limited - Tumi Signs Letter of Intent over the San Felix and San Carlos Gold/Silver Properties, Sonora, Mexico
Tumi Resources Limited - Tumi Signs Letter of Intent over the San Felix and San Carlos Gold/Silver Properties, Sonora, Mexico.
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[{"type":"text","content":"\n\n\n\n\nTSXv - TM\nFrankfurt - TUY\nOTCBB - TUMIF\n\nVANCOUVER, July 17 /CNW/ - Tumi Resources Limited (\"Tumi\" and/or the\n\"Company\") (TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). David Henstridge,\nPresident, is pleased to announce the signing, through its 100% owned Mexican\nsubsidiary, TMXI Resources S.A. de C.V. (\"TMXI\"), of a letter of intent (the\n\"LOI\") for the right to acquire 100% interest in the San Felix and San Carlos\ngold/silver properties (the \"Claims\") located in Caborca, Sonora State,\nMexico.\nPursuant to the LOI, TMXI will have the right to acquire the Claims by\nmaking cash payments of USD $350,000 over a four year period, with the payment\nin the first year being USD $25,000. The San Felix claim is located west of\nTumi's Phoenix property, and the San Carlos claim is contained within the\nboundaries of Phoenix.\nThe property is underlain by Mesozoic age volcanic and sedimentary rocks\ncovered by a gently dipping alluvial plain. Within this sequence occur at\nleast four horizons of intensely sheared and fractured rock (original\ncomposition uncertain) on the San Felix property, and at least two horizons\nhave been identified on San Carlos. Within these shear zones occur extensive\nhematite and ferruginous carbonate alteration, along with quartz,\narsenopyrite, chalcopyrite and oxides. The mineralized horizons range from a\nfew metres to tens of metres in thickness.\nTwelve rock samples were taken from the San Felix property. Individual\nsamples ranged from 0.01 g/t gold over 3 metres to 6.7 g/t gold and 480 g/t\nsilver over 0.6 metres. The widest individual samples that carried highly\nanomalous gold ran 0.48 g/t gold over 6 metres and 0.42 g/t gold over \n5.7 metres. Composite samples over the central vein/shear zones and the\nadjacent hanging wall and/or footwall include 1.0 g/t gold and 10 g/t silver\nover 3.2 metres, 1.6 g/t gold and 111 g/t silver over 2.75 metres, 0.6 g/t\ngold and 103 g/t silver over 7.0 metres and 1.2 g/t gold and 32 g/t silver\nover 1.9 metres. These samples were taken over an area 600 metres north-south\nby 300 metres east-west.\nSeven rock samples were collected from the San Carlos property. Gold\nvalues ranged from 0.1 g/t to 1.81 g/t, and silver from 11 g/t to 233 g/t. Two\nareas of composite samples, similar to those described at San Felix, averaged\n0.33 g/t gold, 42 g...