VANCOUVER, Jan. 10 /PRNewswire-FirstCall/ -- 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"
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David Henstridge, President & CEO
Company Contact: Investor Information Contact:
Mariana Bermudez at (604) 699-0202 Mining Interactive
or email:
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.
