NEWS RELEASE |
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| May
26 , 2005 |
Toronto
Stock Exchange "TWG" Berlin OTC Exchange "878 341, EDV-Kürzel ATG" |
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Press Release Twin Mining’s 2005 Diamond Exploration Underway
The evaluation of 78 drill targets that were detected during an aeromag survey in 2004 on the Jackson Inlet East and West claims and the 15 kimberlite indicator mineral clusters discovered on the Vista Claim blocks from initial soil sample analysis (see press release February 17, 2005) established clear 2005 exploration targets for potential kimberlite pipes. The convincing 2004 airborne results led Twin Mining to select again the Fugro MIDAS II™ system (see Annual Report 2004) for a 14,600-kilometer high resolution magnetic gradiometer survey expected to be completed by mid July. The area to be covered by this survey is 2,000 sq. km of carefully selected potential kimberlite targets on the 4,000 sq. km Vista Claim blocks. The anomaly definition capability of this system allows positioning and drilling of exploration holes directly from the survey results. The 2005 drilling program is the initial step to establish the presence and the quality of kimberlites and their diamond content. Reverse Circulation drilling of 20 to 30 targets on the Jackson Inlet East and West claims as well as on the Vista claims is planned during July / August 2005. Target selection is based on the strength and size of airborne magnetic anomalies, with priority given to the larger diameter anomalies which have associated kimberlite indicator mineral clusters. Prioritization will be refined on the basis of microprobe analyses to be completed shortly and announced as soon as available. About Twin Mining: The recently completed
Full Feasibility Study for the Atlanta Gold Mine concludes that an economically
mineable gold deposit has been identified. At a gold price of US$375
per ounce the study provides an IRR of 24.62 percent. Estimated site
cash costs are US$188 per ounce. Twin Mining is planning to bring Atlanta
Gold into production in 2006.
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| For
further information contact: |
Tel.:
(416) 777-0013 |
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| Hermann
Derbuch, P.Eng. |
Fax:
(416) 777-0014 |
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| Chairman,
President & CEO |
E-mail:
info@twinmining.com |
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© 2005 Twin Mining Corporation
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