VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/13 -- Timmins Gold Corp. (TSX: TMM)(NYSE MKT: TGD) is pleased to announce that its ongoing drill program continues to extend and expand the mineralization at the San Francisco Gold Mine, located in the State of Sonora, Mexico. The San Francisco Gold Mine is comprised of two pits, the larger San Francisco Pit (SF Pit) and La Chicharra Pit (LC Pit) located approximately 1.5 km to the west. A total of 107,315 meters in 476 holes were drilled from October, 2012 to the end of February, 2013, the highlights of which are reported below. A further 42,000 meters were drilled in March and April mainly at the SF Pit and management estimates that an additional 30,000 meters will be drilled at the SF Pit to the end of May at which point the drill program will be completed. The results of the drilling will be used to provide an updated Technical Report which is expected by August.
A total of 28,170 meters in 125 holes (reverse circulation) were drilled inside, beneath and directly around the SF Pit. Drilling was designed as infill drilling to both fill in voids in the block model and convert existing previously drilled inferred ounces into the measured and indicated categories. Assay results received to date indicate that the program has been successful in reaching these goals. Highlights of the assays received from this program (rounded to the nearest decimal) include 72 meters of 1.6 gpt gold in Hole TF-3115, 27 meters of 2.5 gpt gold in Hole TF-3052, 24 meters of 2.2 gpt gold in Hole TF-3017, 18 meters of 2 gpt gold in Hole TF-3113, 38 meters of 1.2 gpt gold in Hole 3109, 32 meters of 1.3 gpt gold and 6 meters of 3.6 gpt gold in Hole TF-3035, 23 meters of 1.7 gpt gold in Hole TF-3049, 35 meters of 1.2 gpt gold in Hole TF-3126, 15 meters of 4.2 gpt gold in Hole TF-3003 and 14 meters of 3.2 gpt gold in Hole TF-3029.
Highlights of the assays received from the 51,949 meters drilled in 229 holes (reverse circulation) at LC Pit include 13.7 meters of 2.3 gpt gold in Hole TF-2990, 15 meters of 1.1 gpt gold in Hole TF-2675, 33 meters of 1 gpt gold in Hole TF-2691, 13.7 meters of 1.35 gpt gold in Hole TF-2977, 13.7 meters of 1.2 gpt gold in Hole TF-2907, and 4.6 meters of 6 gpt gold in Hole TF-2939 (all rounded to the nearest decimal). Drilling was designed as infill drilling to both fill in voids in the block model and convert existing previously drilled inferred ounces into the measured and indicated categories. Assay results received to date indicate that the program has been successful in reaching these goals.
San Francisco East
A limited core drill program of four holes was drilled approximately 1 km to the east of the SF Pit. The most significant intercepts were from Hole TFD-141, which was drilled to a depth of 1,304 meters. The drilling intersected numerous lenses of mineralization to the bottom of the hole. The most significant intercepts were 1.5 meters of 15 g/t gold at a depth of 147 meters, 1.5 meters of 6.76 g/t gold at a depth of at 274.5 meters, and 9.00 meters of 8.166 g/t gold which includes 1.50 meters of 47.6 g/t gold at a depth of 288.0 meters. From 465.0 meters to 496.50 meters an interval of 31.50 meters of 0.562 g/t gold including 1.50 meters of 6.041 g/t gold was intersected. The results of this hole are significant since they confirm gold mineralization to a depth of more than 1,000 meters and demonstrate the continuity of the mineral trend along a strike length of at least 4,000 meters.
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