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Tamerlane Ventures Inc. ("Tamerlane" or the "Company") (TSX-V: TAM) is pleased to announce that it has filed on SEDAR a National Instrument ("NI") 43-101 Technical Report outlining the mineral reserves for R-190 area, which includes the R-190, P-499, O-556, X-25, Z-155 and G-03 underground lead zinc deposits at the Company’s Pine Point Project, located in Canada’s Northwest Territories.
Highlights of the Technical Report were previously reported by Tamerlane in a press release issued February 17, 2012 and included:
|Proven and Probable reserves:
||7.8 million tonnes (6.16% Zn, 3.01% Pb)
|Measured & Indicated resources:
||8.0 million tonnes (2.26% Zn, 1.13% Pb)
|Pre-production capital cost:
|Internal rate of return (IRR):
||25% (after tax)
|Net present value (NPV):
||$64.5 million (@ 10% discount rate, after tax)
|Cash cost zinc production:
The technical report was undertaken by third party consultants MineTech International Ltd (MineTech). The NI 43-101 report was completed by Mr. Douglas Roy, M.A.Sc., P.Eng., Ian M. Flint, Ph.D., P.Eng., and Patrick Hannon M.A.Sc., P.Eng., Qualified Persons with MineTech International Limited, an Independent mining and geological engineering consulting firm.
A copy of the complete report is available at www.sedar.com and on the Company’s website at www.tamerlaneventures.com.
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.