(TSX.V: TLG)
RICHMOND, BC, May 22 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX.V - TLG) With the increase in silver recoveries to over 75% allowing a lower cut-off grade, and the addition of resources from the Rainbow Two and Berg zones, the measured and indicated resources at Skukum Creek are now estimated to be 1,020,000 tonnes at 6.39 g/t gold and 180 g/t silver and the inferred resources are 155,000 tonnes at 5.55 g/t gold and 113 g/t silver, both at a 4 g/t cut-off grade. The Rainbow Two and Berg zones are currently estimated to contain 110,000 tonnes at 8.8 g/t and 108 g/t as indicated resources and 81,000 tonnes at 8.4g/t gold and 100g/t silver as inferred resources. These zones remain open. Additional drilling will be undertaken after the drill cross-cuts in the present underground work program are complete.
Mr. Robert Rodger, President of the Company, stated: "The resource presently estimated at Skukum Creek together with the potential to add to this resource from additional underground work and diamond drilling on the extensions of the known zones provide a sound basis for proceeding to production.
The resource estimate is being prepared by Douglas Roy, P.Eng, of MineTech International Limited, a qualified person under NI 43-101.
The resource estimate for the Rainbow Two and Berg zones being prepared by MineTech will be posted on Sedar on receipt and acceptance of the 43-101 compliant report.
About Tagish Lake Gold Corp.
Tagish Lake Gold Corp. explores for and develops high grade gold-silver mineral deposits in the Yukon Territory of Canada. The Company is currently focused on its wholly owned, 178 km2 Skukum Mineral District located 80 km by road south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek gold-silver deposit and the Goddell Gully gold deposit, with a currently defined measured plus indicated resource of 1,120,000 tonnes grading 8.0 g/t Au and 153.1 g/t Ag (MineTech June 2003, available on Sedar); and the Mt. Skukum gold deposit.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
This news release includes certain forward looking statements in respect to various issues including upcoming events. These forward looking statements are based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. Mineral exploration is subject to a high degree of risk, which even a combination of experience, knowledge, and careful evaluation may fail to overcome. Exploration activities are also expensive. The Company will therefore require additional financing to carry on its business, and such financing may not be available when it is needed. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.