News from CNW Group
Tumi Resources Limited Stakes the Lovasens and Skalbo Silver Properties, Bergslagen District, Sweden
Wednesday, January 25, 2006
TSXv - TM
Frankfurt - TUY
OTCBB - TUMIF
VANCOUVER, Jan. 25 /CNW/ - Tumi Resources Limited (the "Company") (TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). Mr. David Henstridge, President, is pleased to announce the acquisition of the Lovasens (185 hectares) and Skalbo (121 hectares) properties located in the Bergslagen District of Sweden.
The Bergslagen district lies immediately to the north-west of Stockholm and covers an area of approximately 200 kms east-west by 150 kms north-south. The district is underlain by volcanics and sediments which are more than 2 billion years old. The region has undergone several phases of folding and has been intruded by at least two generations of granitoids. Bergslagen is a highly mineralized district and one of the most important ore districts in Sweden, containing deposits of iron, manganese, base-metal and silver sulphides.
The historic Lovasens mines consist of at least eleven workings that were mined between 1630 and 1954 when they were abandoned and flooded. Between 1630 and 1878 they produced 806 tonnes of lead and 83,000 ozs of silver. Production records indicate that in 1613 and 1620, a total of 287 tons and 205 tons of ore averaged 9.3% and 12.7% lead and 232 g/t and 252 g/t silver, respectively. Between 1915 and 1919 about 12,300 tons of rock were mined from the Prince Carls mine, containing 431 tons of lead ore grading from 20% to 37% lead and 1,680 tons of zinc ore grading 40.5% to 46.6% zinc.
The ore is hosted by a limestone formation that has been altered to a silicate skarn. The skarn is divided into five subgroups of which the most important one is svartmalm, or "black ore" consisting of abundant magnetite and calc-silicate skarn minerals (garnet, diopside, tremolite, epidote, hornblende.) Galena and sphalerite are disseminated throughout this unit which is enveloped by potassium-rich rhyolitic volcanics. The ore minerals are argentiferous galena, sphalerite and minor chalcopyrite, magnetite and arsenopyrite.
The Lovasens mines are underlain by airborne magnetic anomalies. A similar magnetic feature occurs 2 kms west of Lovasens; the Company has staked this area, called the Skalbo property.
The Company intends to obtain the historical records for the Lovasens and Skalbo properties for detailed study and believes the area has excellent potential for discovering new silver occurrences.
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.
For further information: Company Contact: Mariana Bermudez at (604) 699-0202 or email: mbermudez@chasemgt.com, website: www.tumiresources.com; Investor Information Contact: Mining Interactive, Nick L. Nicolaas, at (604) 657-4058, or email: nicolaas@attglobal.net
© CNW Group