NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
Tamerlane Ventures Inc. ("Tamerlane" or the "Company") (TSX-V: TAM) is pleased to announce that the Company has completed an assessment program at its Indian Mountain Lake property. Tamerlane conducted a geological assessment of the BB Lake deposit at Indian Mountain Lake to confirm historic grades and tonnages with the objective of converting the historic resource on the deposit to a NI 43-101 compliant resource.
The Indian Mountain Lake property is in a relatively unexplored massive sulphide mining camp that contains several volcanogenic base metal deposits. The four known deposits are the BB Lake, Kennedy Lake, Kennedy Lake West, and Susu Lake. The BB Lake deposit has non-43-101 compliant historic resources* estimated at 3.0 million tonnes at 10% combined Zn-Pb-Cu, 4.0 opt Ag, and 0.02 opt Au. In addition to these, there are eleven other base metal showings located on the Indian Mountain Lake property.
The assessment program included an on-site geological investigation/assessment of the BB Lake property to locate historical drill holes and re-log previously drilled core samples. The assessment team consisted of two Tamerlane geologists and two geologists from Aurora Geosciences Ltd., of Yellowknife, NWT.
As a result of the assessment program, all high grade drill holes were logged in the field and will be transported to Yellowknife for sampling and assaying. Historic drill hole collars were also located.
The next steps in the assessment of the Indian Mountain Lake property will be to re-assay core to confirm historic grades and tonnages, which are necessary to bring the BB Lake deposit resources into NI 43-101 compliance. Tamerlane also plans to conduct confirmation and exploration drilling to test the BB Lake ore body at depth.
Mike Willett, CEO of Tamerlane, commented, “The recent program was very successful as the site was easily accessible, with all of the previously drilled core intact and undisturbed. Based on Tamerlane’s work to date, we believe there is significant potential at Indian Mountain Lake given the nature of the known VMS deposits. We believe this greenstone belt could host sizable deposits similar to those found in the Flin Flon camp.”
*Historical resources referred to above are not in accordance with current NI 43-101 standards and the company is not treating them as current mineral resources. Historical mineral estimates should not be relied upon and a qualified person has not done sufficient work to date to classify the historic estimates as current mineral resources.
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’s immediate focus is bringing the 100%-owned Pine Point Project to production. The Company is currently in the financing phase and expects to commence construction following financing. Tamerlane plans to sell the well-known, Pine Point Concentrates to various smelting facilities around the world. The Company also plans to develop its Los Pinos heap leach copper project in Peru.
“Michael A. Willett”
Chief Executive Officer
For further information, please contact:
Tamerlane Ventures Inc.
Director of Corporate Communications and Investor Relations
Phone: (360) 332-4636
Fax: (360) 332-5025
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.
Caution Concerning Forward-Looking Information
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.