Tamerlane soars on Pine Point high grade

Vancouver – Shares of Tamerlane Ventures (TAM-V, TMLVF-O) posted a 93%-gain on strong volume in January 30th trading, closing up 42 to 87 apiece on a high-grade lead-zinc intercept from its Pine Point project located just south of Great Slave Lake in the Northwest Territories.

Hole Z155-TV2 cored a 32-metre true-width intersection (from 109 metres depth) grading 23.9% zinc and 6.2% lead including a 19.8-metre interval of 33.2% zinc and 8.2% lead – in the Z155 zone on the past producing property.

Tamerlane is in the midst of updating a positive, bankable feasibility study completed mid-2007 on the R190 deposit and looks to upgrade resource estimates for five additional zones (P-499, O-556, X-25, G-03 and W-85) located in close proximity. Planned access to these zones will be through infrastructure developed at R190.

Proven reserves of one million tonnes grading 11.2% zinc and 5.5% lead were tabled on R190 (using a 5% zinc grade shell) in last year’s study.

The five zones being modeled host a combined indicated resource of 10.9 million tonnes at 4.7% zinc and 2.4% lead. A non-NI43-101 compliant historic resource reviews another 51 million tonnes of 3.8% zinc and 1.2% lead on other zones at Pine Point.

Mining plans at R190 call for an underground operation accessed by a vertical shaft and conveyer system hoisting ore to surface. Processing will use dense media separation with a flotation circuit to upgrade zinc and lead concentrates. Plans also call for a perimeter freeze curtain to control groundwater flow.

Tamerlane’s project encompasses the old Cominco, now part of Teck Cominco (TCK.B-T, TCK-N), Pine Point mine that produced more than 64 million tonnes of ore averaging 7% zinc and 3.1% lead between 1964 and 1987. Infrastructure built included a railway line, mill, hydroelectric plant and a town site.

Pine Point mineralization is classified as Mississippi Valley type with carbonate-hosted lead-zinc sulphides. The deposit occurs in Devonian dolomites (a reef structure) where karstification — creation of caves and cavities through dissolution — and collapse breccias allowed for accumulation of mineralizing brines in cavities and deposition of sulphides. Typical replacement-deposited sulphides include galena, sphalerite, marcasite and pyrite.