Tumi Submits Mining Lease Application Over the Sala Silver-Lead-Zinc Project, Sweden
# 1305 – 1090 West Georgia Street TSXV - TM Vancouver, BC, V6E 3V7, Canada Tel: (604) 668-5909 Fax: (604) 683-1585 Frankfurt - TUY Email: [email protected]
Pink Sheets - TUMIF www.tumiresources.com
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News Release September 10, 2013
Tumi Submits Mining Lease Application Over the Sala Silver-Lead-Zinc Project, Sweden
Vancouver, Canada – Tumi Resources Limited (the “Company”) (TSXV: TM) (OTCPK: TUMIF) (Frankfurt: TUY). Scott Emerson, President & CEO, announces the submission of an application for a Mining Lease ("ML") covering the Company’s 100% owned Sala Silver-Lead-Zinc project located in the Bergslagen District of central Sweden. The application documents for the Sala ML were prepared by consulting group Earth Consultants International, Inc.,and was recently lodged with the Swedish Mining Inspectorate (Bergsstaten). The Company anticipates a processing time of the ML application by the Swedish Mining Inspectorate of 6 to 12 months.
The filing of this ML application required that the Company complete a simplified Environmental Impact Study (“EIS”), including flora and fauna surveys, ground and surface water testing and surveys of current land use. In addition to the EIS the Company held a meeting with representatives from the environmental agencies of the county and community where the results from the EIS were presented together with the basic plans for the new mine. A granted ML under the Swedish Mining Act is valid for 25 years.
As previously reported see (see Tumi PR March 12, 2012) the Company has defined an exploration target of 4 - 5 million tonnes at the Sala project*. The Company retained Mr Colin Lutherborrow, an independent resource consultant from Zilloc Pty Ltd, to quantify the resource potential of the project. Mr Lutherborrow was able to define four mineralized domains, which provided the base for the ML application. No interpolation of metal grades for the defined domains were undertaken, however, the weighted average of the individual metal values of the drill intersections contained within each of the solid shapes is 3.6% for zinc, 0.5% for lead and 64 g/t for silver.
Based on a lower limiting cut-off grade of 2% for zinc and/or 30 g/t for silver, the resulting exploration target averages 3.9% zinc, 0.5% lead and 64 g/t silver. For the ML a conceptual mine layout was created, indicating that approximately 15% of the mineralization has to be set aside for mine support, reducing the size of the exploration target to between 3.4 - 4.25 million tonnes.
The exploration target has been defined on the results from 14 historical and four Company diamond drill holes. It is noted that the deepest of the Company's holes, 08-003, intersected 37.2m grading 6.1% zinc and 50 g/t silver including 7.1m grading 10.4% zinc and 81 g/t silver. These results are promising as they may indicate that the exploration target can be increased in both size and grade down-dip and along strike from the drill hole.
The Sala project is located approximately 120km NW of Stockholm. An active limestone quarry is located immediately west of the applied area. As the underground workings of the quarry can be used when accessing the mineralization, it is possible to work underground with virtually no impact on the surface. Sala is proximal to road, rail, power, and operating ports. Skilled personnel are also readily available, minimizing the need for offsite infrastructure to be built by the Company.
"Submitting this ML application is an important step in the development of our Sala project," said Mr. Emerson. "Sweden's simple and well tested Mining Act, accessible year-round operating conditions, established infrastructure and skill base facilities, allows rapid and low cost progress to be achieved. The Sala exploration permits were the initial claims staked by Tumi in Sweden. The area remains a strategic landholding for the Company in a favorable jurisdiction.”
The Company continues to rationalize and consolidate its property holdings in Mexico and Sweden. With a working capital of approximately $1 million the Company is currently also reviewing several precious mineral property acquisitions in North America.
The qualified person for Tumi’s projects, Mr. 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.
*Investors are cautioned that the potential quantity and grade is conceptual in nature and that there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the confirmation or discovery of a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
On behalf of the Board, Company Contact:
Scott Emerson at (604) 668.5909 or email: [email protected]
"Scott Emerson"
Scott Emerson, President & CEO website: www.tumiresources.com
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.
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