CONCORD, ONTARIO--(Marketwired - Sept. 11, 2013) - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") is pleased to announce the preliminary results of its recently completed drill program on the Cabot Graphite Project located 10 km north of Baie Verte, Newfoundland.
A total of four holes were drilled approximately 200 m apart along a strike length of 600 m to explore for graphite associated with a VTEM airborne electromagnetic response. All four holes intersected a thick sequence of graphitic schist containing varying amounts of graphite. The drill results for graphitic schist intervals and the intervals sampled for assaying are summarized below:
- CG-13-01: from 61 to 199 m for a total sampled interval of 90 m;
- CG-13-02: from 86 to 234 m for a total sampled interval of 54 m;
- CG-13-03: from 43 to 209 m for a total sampled interval of 89 m;
- CG-13-04: from 10 to 211 m for a total sampled interval of 150 m.
The core was transported by the drill contractor Zenith Drilling to a secure core facility in Baie Verte where all graphite-bearing intervals were split and sampled at approximately 1.0 m intervals under the supervision of geologist Edward Procyshyn (P.Geo., Qualified Person). Table One summarizes the position, orientation and mineralized intervals from the drill program. The mineralized zones are not continuously mineralized and where graphite was not apparent the interval was not sampled.
Commenting on the results Tawsho President and CEO Steve Balch stated "we have intersected thick intervals of graphitic schist in all four holes confirming that the geophysical response we are targeting is due to conductive graphite and that the graphite has substantial strike length and thickness. The samples are being assayed and will help establish whether the mineralization is of sufficient grade to warrant further exploration".
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Stephen Balch, P.Geo., President & CEO of Tawsho Mining Inc., is a Qualified Person under the definition of National Instrument 43-101 and has reviewed and approved the technical content in this press release. All references to drillhole locations are in NAD-83, Zone 21N (metres). All references to azimuth are relative to geographic north and are approximate. The sampled intervals are not all continuous and do not represent the true width of the mineralized intervals.
ABOUT TAWSHO MINING INC:
Tawsho is a mining exploration company focused on the acquisition, exploration and development of advanced stage exploration projects containing gold, base metals and industrial minerals. The Corporation is presently developing its Whisker Valley Property (comprised of 764 claims, covering an area of 19,100 hectares, or 191 sq. km) and its Cabot Graphite Property (comprised of 102 claims covering and area of 2,550Ha or 25.5sq. km) both located in Baie Verte Peninsula, Newfoundland and its Chevrier Property (comprised of 557 claims, covering an area of 9542 hectares, or 95.4 sq. km) located in the Chibougamau region of Quebec. Tawsho currently has approximately 29.25 million shares outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as a term that is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.