TSXV - TM
Frankfurt - TUY
Pink Sheets - TUMIF
VANCOUVER, March 1, 2012 /CNW/ - Tumi Resources Limited (the "Company") (TSXV:TM) (Pink Sheets:TUMIF)
(Frankfurt:TUY). Mr.
David Henstridge, President, announces that a diamond drill hole is
underway at the 100% owned Sala project, located in the Bergslagen
District of Sweden.
Sala, now a historical mine site, was once Europes largest silver
producer and in continuous production between the late 15th century
and 1908.
Additional mining occurred in 1950-51 and between 1945-62 in
the adjacent Bronas mine. Historical records indicate that >200
million ozs of silver were recovered from Sala with grades as high as
7,000 g/t (Tegengren, 1924).
The sulphide mineralization is hosted in
dolomitic marble and occurs dominantly as silver-bearing galena and to
a lesser extent as complex antimonides, sulphosalts and native silver.
The silver content of the galena was between 0.15% to 1%, the latter
being one of the highest contents of silver in galena reported.
The
host rocks have been folded and faulted with the underlying
metamorphosed felsic volcanics and pyroclastics.
The series of shafts
along the Sala mineralization trend more or less in a north-south
direction, apparently controlled by fold structures gently plunging to
the north. Longitudinal sections indicate that the mineralized zone at
Sala (as indicated by mined-out workings) also plunges gently to the
north.
The Sala mine was closed in 1909 following a year-long strike when the
water in the mine rose to its current level of 160 meters.
Though
previous owners drilled some short holes on the upper levels and mined
out some zinc at the southern end of the mine, no modern exploration
has been undertaken testing for possible extensions of this
mineralization down-plunge to the north. It should be noted that
neither the work being undertaken by Tumi nor any potential future
mining activities will affect any of the activities of the tourist
mine.
Tumi has received permission to drill from the underground workings of the adjacent Tistbrottet dolomite mine which puts the drill site within 250 meters of the possible down-plunge extension of the Sala mineralization. A diamond drill has been located within the dolomite mine and drilling is underway.
Mr.
Henstridge stated "Now that we have access to drill from the
dolomite mine, we look forward to testing whether or not the Sala
silver mineralization continues down-plunge to the north".
The qualified person for Tumis projects, Anders Hogrelius, a Member of the Australian Institute of Geoscientists, has visited the Sala Project in Sweden and has verified the contents of this news release.
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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 Companys management as well as assumptions made by and information currently available to the Companys 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, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
