TSXv - TM
Frankfurt - TUY
OTCBB - TUMIF
VANCOUVER, Jan. 10 /CNW/ - Tumi Resources Limited (the "Company")
(TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). Mr. David Henstridge, President, is
pleased to announce that the Company has acquired through staking an
additional 226 hectare mineral concession in south central Sweden and also has
under application a 53 hectare concession. These new concessions are located
in the vicinity of the historic Sala Silver Mine property ("Sala"), which the
Company acquired in 2005. Sala is located in the Bergslagen District of
south-central Sweden, about 105 kms NW of Stockholm.
In 2005, the Company's research determined that the ground was open and
the Company staked ground around Sala totaling 2,153 hectares in two
exploration concessions. Sala was mined sporadically from the early part of
the Sixteenth Century until the early part of the Twentieth Century and is
known to have produced some of the richest silver ores in the world. It was
reported in 1879 that the ore contained up to 7,000 g/t of silver and was sent
directly to the smelting house.
The Bergslagen District lies within the Early Proterozoic Baltic Shield
comprising metasedimentary to metavolcanic units that have been intruded by
early plutonic rocks ranging from gabbros to granites. Within the Sala area,
the metavolcanics are dominated by felsic volcanic breccias, mafic volcanics,
sandstones and siltstones which grade upwards into a 300m thick dolomitic
marble which hosts the Sala Ag-Zn-Pb ore. The ore zone strikes obliquely
across the main trend of the dolomite and has a sub-vertical dip and a plunge
of 30 to 40 degrees to the NW. The width of mineralization is estimated at 80m
to 100m and length at 700m. Recorded mineralization includes silver-bearing
galena, sphalerite, small amounts of pyrite, pyrrhotite and chalcopyrite and
rare occurrences of silver and mercury minerals. The galena at Sala is
extremely rich in silver containing on average 0.15% to 1% Ag.
A paper in Economic Geology by Allen et. al., (1996) cites the mined
resource at Sala was 5 million tonnes with a grade ranging from 150 g/t to
greater than 3,000 g/t Ag, 12% Zn and 1 to 2% Pb and therefore it is likely
that greater than 200 million ozs of silver were recovered from Sala. Mining
records show that Sala was mined to a depth of about 300m, and the mining
plans and sections show that the mineralization remains open at depth. There
also exist the possibilities for both strike extensions and repetitions in
section as shown by exploration done between 1939 and 1962 that resulted in
the discovery of a new zone 600m north of the main Sala orebody containing
171,000 tons grading 350 g/t Ag, 4.2% Pb and 2% Zn. It has been recorded that
Johnson & Co., who mined this new zone, also discovered and delineated an
additional 200,000 tons grading 90 to 100 g/t Ag, 1.3% Pb and 6% Zn.
The resource estimates quoted in this news release are based on a
research paper in Economic Geology by Allen et. al. (Vol. 91, 1996, pp
979-1005). The mined resource was calculated using a reconciliation of old
mining records. These data are historical in nature and were compiled prior to
the implementation of NI 43-101 reporting standards. The Company has not
completed sufficient exploration to verify the estimates and is not treating
them as National Instrument defined resources or reserves verified by a
qualified person and the historical estimate should not be relied upon. The
Company does not have, and is not aware of, any more recent resource estimates
which conform to the standards laid out in National Instrument 43-101.
The qualified person for Sala, David Henstridge, a Fellow of the
Australian Institute of Mining and Metallurgy and a Member of the Australian
Institute of Geoscientists, has visited Sala and has 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.
