The Company’s senior management team, along with technical and investors relations staff will be present to discuss the progress and activity at the Company’s world-class Pine Point Pb/Zn project, which is located in Northwest Territories, Canada. The project is permitted and has excellent infrastructure including hydro power, paved road and railroad. Tamerlane has a bankable feasibility study on the current reserves, which indicates a robust internal rate of return in excess of 50% at current metal prices.
Recently the Company commenced an exploration and confirmatory diamond drill program in February 2010 to add more reserves. The purpose of the program is to convert some of the existing historical resources on the property into National Instrument (“NI”) 43-101 compliant resources and provide the metallurgical data necessary to allow an additional feasibility study to be completed on the N-204 deposit. Completion of a feasibility study on N-204 will enable the N-204 resources to be added as additional reserves to the reserve base.
"I look forward to meeting the shareholders of Tamerlane and discussing our exciting projects. With the market for lead and zinc looking very promising, the bankable feasibility study completed on the Pine Point Pb/Zn Project is looking even more attractive for future investors and potential financiers," commented Ross F. Burns, President & CEO of Tamerlane.
About the Pine Point Project
The Pine Point project is an advanced and permitted Pb/Zn project that hosts extensive infrastructure and significant Pb/Zn resources. The project is accessed by paved road, has existing hydro power, and is located 40 kilometers by paved road from the existing rail head at the town of Hay River. The Company is currently reviewing options for potential mine financing alternatives and mine development, and continuing to build additional reserves through this current targeted confirmation diamond drill program.
The Pine Point Project mineral inventory contains NI 43-101 compliant Proven & Probable reserves of 7.8 million tonnes grading 3.01% Pb and 6.16% Zn, Measured & Indicated resources of 8.0 million tonnes grading 1.13% Pb and 2.26% Zn, and Inferred resources of 4.1 million tonnes grading 0.82% Pb and 2.36% Zn.
Historically, the Pine Point Mine was the largest and most profitable zinc-lead mine in Canadian history having extracted over 64,259,570 tonnes of ore at a grade of 7.0% zinc and 3.1% lead between 1964 and 1987.
The information in this press release was prepared under the guidance of Mr. Ross F. Burns, P.Geo., LG, who is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of the data.
About Tamerlane Ventures Inc.
Tamerlane Ventures Inc. is an exploration and development mining company with advanced base metal development projects in Canada and Peru. The Company is working towards bringing the world-class Pb/Zn Pine Point Property back into production in Northwest Territories, Canada, and developing its Los Pinos heap leach copper project in Peru. The Company’s primary focus is the Pine Point Project, which consists of the Pine Point Mine, which was the largest and most profitable base metal mine in Canadian history. Tamerlane controls the Pine Point Project, along with a large contiguous property to the west.
On behalf of Tamerlane Ventures Inc.,
“Ross F. Burns”
President & CEO
For further investor information, please contact:
Peter A. Ball, Director of Investor Relations
Toll Free: (877) 284-6535
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information within the meaning of applicable securities laws. We use words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology to identify forward-looking information. It is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in zinc, lead and other resource prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.