TSXv - TM
Frankfurt - TUY
OTCBB - TUMIF
VANCOUVER, March 29 /CNW/ - Tumi Resources Limited (the "Company")
(TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). Mr. David Henstridge, President, is
pleased to provide an update on the Company's exploration activities in
Sweden. During recent months, the Company has been active in staking numerous
silver projects in the Bergslagen District of south-central Sweden, and is now
a major claim holder in the district.
The Bergslagen district lies immediately to the north-west of Stockholm
and covers an area of approximately 200 kms east-west by 150 kms north-south.
The district is underlain by volcanics and sediments which are more than 2
billion years old. Bergslagen is a highly mineralized district and one of the
most important ore districts in Europe, containing deposits of iron,
manganese, base-metal and silver sulphides. It contains the well known
historic and current mines Sala, Falun, Garpenberg and Zinkgruvan.
Ten exploration licences totaling 4,255 hectares that cover seven
historic silver mines have now been granted by the Swedish Mining
Inspectorate, for an initial period of three years. A further eight
exploration licences covering additional significant silver prospects have
been applied for, and will be reported on shortly.
The seven historic silver producers for which the Company has received
exploration licences are:
- Sala (2,432 Ha) Sweden's largest historic silver producer,
the famous Sala silver mine operated for
nearly 400 years and produced some of the
richest silver ores in the world. It is
estimated that more than 200 millions ozs of
silver were recovered; it was reported grades
of up to 7,000 g/t Ag were mined.
- Hallefors (794 Ha) Sweden's second largest historic silver
producer after Sala. Mineralization occurs in
fissures cross-cutting volcanics and also as
lode deposits within stratabound carbonate
rocks. Small production (9,000 tonnes) from
1878 to 1917 averaged 1,560 g/t Ag, 12% Zn
and 38% Pb.
- Svardsjo (284 Ha) The Svardsjo Cu-Pb-Zn-Ag mines, located
16 kms NE of Falun, produced ore from the
Middle Ages and more recently between 1959
and 1972; 775,000 tonnes of production
averaged 113 g/t Ag, 0.6% Cu, 2.7% Pb and
6.0% Zn. Ore is considered volcanogenic-
exhalative in origin.
- Lovasens (185 Ha) A rich Pb-Zn-Ag mine that operated between
1630 and 1954 with ore hosted by a silicate
skarn. Between 1630 and 1878, the mine
produced 806 tonnes of Pb and 83,000 ozs of
Ag; the average grade was about 240 g/t Ag.
- Kalvbacken (168 Ha) An old Zn-Pb-Cu-Ag mine located 17 kms
southwest of Falun that produced about
600,000 tons of ore. The ore occurred as two
stock-like skarn-carbonate bodies.
- Tomtebo (80 Ha) The historic Tomtebo mine is located 25 km
southeast of Falun and produced small amounts
of Cu-Zn-Ag ore.
- Oster Silvberg (312 Ha) Oster Silvberg mine, located 27 km south of
Falun, was the main producer of silver in
Sweden in the Fourteenth and Fifteenth
Centuries. Early records indicate that silver
production exceeded 32,000 ozs per year.
Very little modern exploration has been undertaken for silver within the
Bergslagen district. There is excellent potential for discovering new mineral
occurrences either along strike or down-dip from the known mineralization or
entirely new mineralized zones. The Company is in the process of obtaining the
historical records of all these silver prospects and initial detailed work
will be focused on Sala and Hallefors.
The qualified person for Tumi's Silver Projects, David Henstridge, a
Fellow of the Australian Institute of Mining and Metallurgy and a Member of
the Australian Institute of Geoscientists, has visited the Bergslagen District
and verified the contents of this news release.
On behalf of the Board,
"David Henstridge"
---------------------------------
David Henstridge, President & CEO
Forward Looking Statements. This Company Press Release contains certain
"forward-looking" statements and information relating to the Company that are
based on the beliefs of the Company's management as well as assumptions made
by and information currently available to the Company's management. Such
statements reflect the current risks, uncertainties and assumptions related to
certain factors including, without limitations, competitive factors, general
economic conditions, customer relations, relationships with vendors and
strategic partners, the interest rate environment, governmental regulation and
supervision, seasonality, technological change, changes in industry practices,
and one-time events. Should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein. Neither the TSX
Venture Exchange nor the Frankfurt Deutsche Borse have reviewed the
information contained herein, and, therefore, do not accept responsibility for
the adequacy or the accuracy of this release.
