TORONTO, ONTARIO--(Marketwire - Feb 19, 2013) - Tawsho Mining Inc. (TSX VENTURE:TAW) is pleased to report that a graphite discovery has been made on its Cabot property in Newfoundland. The Cabot Property consists of 102 claims which cover an area of 25.5 sq. km located approximately 12 km north of the village Baie Verte in northwestern Newfoundland. The property, acquired in March 2012 (see press release February 21, 2012), was known to host the Cabot Cu-sulfide prospect and the Marble Cove Au prospect. Although graphitic metasedimentary rock units had been mapped on the property, there is no indication that the area had been explored or actively prospected for economic graphite prospects. Tawsho undertook during the 2012 exploration season to systematically prospect, locate, map and sample graphite occurrences on the Cabot property.
The graphite bearing rock units, however, are rarely exposed on the Cabot property, and where exposed, they are difficult to sample due to their recessive weathering characteristic. The most strongly mineralized intervals occur in the most schistose intervals within the graphitic rock units. Considerable effort was made to take representative chip and grab samples. Given the nature of rock exposure however, the sampling procedures could not be rigidly controlled; the reported assay results in Table 1 only roughly estimate the average concentration of graphite at the sampled location and will have considerable variance.
In the course of extracting the sample from the outcrop, the graphite and host mica schist crumbled readily compared more to the more rigid quartz-feldspar laminae and thin beds. Consequently the sample taken may underestimate the graphite component in the outcrop. The graphite assay results as shown in Table 1 are generally less than the subjective visual field volume percent estimate converted to weight percent of graphite in the rock. Each value estimate however, maintains the same relative value, i.e. higher visual graphite estimates match the higher graphite analytical values. Coarser flake graphite also occurs as small lenticular pods several mm in length and lenticles within and at the margin of quartz and pegmatitic quartz-feldspar veins that cut the graphite bearing rock unit. These veins however, due to their insignificant size and the erratic distribution, were not sampled.
Most of the outcrops sampled were uncovered by removing the soil and/or till cover overlying them. The lateral extent and width of the graphite bearing unit was extended by locating mineralized outcrops on high ground and projecting their host bedding direction across swamps and valleys where mineralized outcrop were eventually located at their projected vicinity.
|Table 1: Graphite Analysis for chip-grab samples collect across partially exposed outcrop|
|Assay Lab #||NAD83 Easting||NAD83 Northing||C(t) Wt%(Acme)||C(t) Wt%(ALS)||C(g) Wt%(ActLab)||C(g) Wt%|
|* Cg determined by MLA SEM analysis|
Two separate graphite bearing bands have been mapped each having an estimated width greater than 50 meters. These bands were traced for a strike distance of 1.6 km. At their southern extent these graphite bearing bands appear to coalesce to form a single irregularly shape lenticular pod having a width in excess of 250 meters.
At the northern margins, the graphite bearing unit is exposed in the stream as flat outcrop several meters across where character of graphite mineralization can be more clearly observed. Graphite lenticles having thickness of up to 4 mm and lengths of several cm occur as intra-folia concentrations between the mica rich layers of the schist. These lenses and lenticles are composed of mostly massive flake graphite. The thickest graphite rich band observed was ~ 3cm in thickness as a fracture filling associated with crenulated mica rich schist. Most graphite rich lenticles, however, are mm in thickness and or they occur as graphite smears on sheared surfaces.
Samples 97280 and 97315 are composite bulk samples that combined freshly broken grab samples taken from different outcrops localities 10''s of metre apart at the sample locality. Each bulk sample size was approximately 15 kg in weight. Composite sample 97280 was taken at the northern part of the flat lying graphite bearing unit outcropping in the stream bed. Composite sample 97315 was taken from a steeply sloping outcrop at the southern portion of the graphite showing where it has the widest width. No attempt was made to select the samples as to truly represent of the average grade of graphite at each locality.
The samples were submitted to Activation Laboratories Ltd.(Actlabs), Ancaster, Ontario for Mineral Liberation Analysis (MLA). The sample was crushed to -2mm particle size (- 10 mesh) and split using the A Jones riffle splitter until a 500 g sample was obtained. The 500 g sample was screened to +106/-850 micron (+150 mesh/-20mesh) screen openings. Five grams of the crushed sample in the size range greater than 160 microns and less than 850 microns was taken from each sample and prepared as two polished sections. MLA scanning electron microscope analyses determined the purity of individual graphite flakes within individual size categories and percentage content of associated host minerals.
The report from Actlab concluded that "approximately 80% of the graphite flakes in sample 97280 and 90% in 97315 contain inclusions or are incorporated within phyllosilicates, quartz and feldspars." The respective samples for the total fraction range indicated, "shows presence of 2.19 and 4.67% pure graphite, respectively. Fine mixture of graphite and mineral matter accounts for approximately 5.81 wt% of sample 97280 and 13.52 wt% of sample 97315" ( Actlab Laboratory Report No.A12-12401 December 10, 2012). The total graphite content in the large bulk sample was not separated from the host mineral component during an MLA analysis but was estimated by petrographic modal counts on sieved fractions of crushed material prepared as a polished thin section.
Naturally the range of flake sizes is considerably smaller than the diameter of the crushed fragments captured on the individual screens. This study confirms that the form of graphite is flake graphite that range from 250 microns to 6 microns in size. Less than 15% of the free graphite have sizes greater than100 microns. As noted earlier, given the nature of sampling these observed statistics may be biased to the low side.
"The work completed on the graphite showings on the Cabot is preliminary and much remains to be done. The grades, widths and regional extent of the graphite mineralization are encouraging and certainly warrant the drilling of one or two holes to obtain a true test of its grade and quality across their total width".
"We also have on the Cabot property a Cu-sulfide showing that is exposed at surface. Preliminary examination of the outcrop exposures and available drill core indicate that this deposit may have been separated from the main deposit by faulting. We need to find the extension of this deposit" commented Joseph Feldman, CEO and President, Tawsho Mining.
Since both graphite and Cu-sulfide targets respond well to VTEM and magnetometer surveys, Tawsho contracted Geotec Ltd. Aurora, Ontario late autumn 2012 to undertake a heliborne VTEM and Magnetometer survey on the Cabot property. This survey has only recently been completed and the data is in the process of being analyzed. The preliminary results are positive with well defined anomalies in each areas of expected mineralization.
"Overall, 2012 has been a very good year for Tawsho. Results from the drill program on the Whisker Valley were very positive as reported in our recent press release dated January 4, 2013. We now also have a new graphite discovery on the Cabot property, and both Cu-sulfide and Au-quartz vein showings that have been historically drilled. Exploration on each of these prospects has advanced past the discovery stage and Tawsho now needs to extend its activities to develop the resource base on each prospect. By adapting a systematic approach toward developing each of its properties, Tawsho''s efforts during the last two years even with limited budgets, are starting to bear fruit. We are now entering a new phase of exploration in 2013. We look forward with excited anticipation to our results as our exploration activities begin to transform prospects into resources" concluded Joseph Feldman.
The press report was prepared by Edward Procyshyn, P.Geo and was reviewed by Joseph Feldman, President and CEO Tawsho Mining Inc. The contents and technical details of the final report were also reviewed by Edward Procyshyn, P.Geo who is the qualified person as defined by NI I43-101.
ABOUT TAWSHO MINING INC:
Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration projects. 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 Property (comprised of 102 claims covering and area of 2,550Ha or25.5sq. 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 25.2 Million shares outstanding.
Graphite Analysis, Quality Assurance/Quality Control:
Tawsho Mining is committed to a regimented QA/QC program including utilizing standards, blanks and duplicates as per normal industry standards. Samples collected in the field are cleaned, and organic material eliminated as much as is possible. In this preliminary submission, additional standardized reference material and blanks were not inserted although standard laboratory analysis did include duplicate analysis and inserted laboratory standard. Instead, the initial batch of samples were prepared by Eastern Analytical Ltd (Springdale NL) and sent to two analytical laboratories: Acme analytical Laboratories (Vancouver, BC) and ALS Canada Ltd (Vancouver, BC). The final batch of samples were sent to Actlab-Activation Laboratories Ltd (Ancaster) for sample preparation and graphite analysis and to Actlab (Thunder Bay, Ontario) for MLA analysis. Rejects and pulps are returned and stored at the core shack in Baie Verte, NL.
Acme Labs, ALS and Actlab are accredited analytical laboratories. All laboratories have similar standard sample preparation procedures which can be obtained from their web sites. The technique used for determining graphitic carbon is by LECO whereby the pulp is partially digested with hydrochloric acid to remove the inorganic carbon in carbonate minerals and then subjected to a multistage furnace treatment
Tawsho Mining Inc. has implemented the standard QA/QC protocol for analysis and storage of its exploration and diamond drilling. Normally, standards and duplicate samples are randomly inserted and constitute 10% of samples submitted. The samples are transported by a Tawsho employee from the Property to the analytical laboratory or sealed in containers and sent by courier services to appropriate laboratories.. Chain of custody protocols require signatures and the maintenance of logs and receipts each time the samples are picked up from or delivered to a new location. When utilizing commercial transportation, all shipping sacks are sealed with a numbered tag, the removal of which is recorded upon receipt by the analytical laboratory. The rejects samples are returned and securely stored in a core shack/storage building in Val d''Or.
Forward-looking statements provide an opinion as to the effect of certain events and trends on the business. Certain statements contained in this news release constitute forward looking statements. The use of any words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Corporation''s properties; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Corporation''s actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Corporation''s business, or if the Corporation''s estimates or assumptions prove inaccurate. Therefore, the Corporation cannot provide any assurance that forward-looking statements will materialize. The Corporation assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws.
Mr. Joseph Feldman
President and CEO