Tuffnell Ltd. (TUFF) hikes on prospective new gold find
Posted on: July 5th, 2011Written by:
Tuffnell Ltd. (OTCBB: TUFF) shares grew 21.4% Tuesday to 8.5 cents, on word of new drilling at its project in Arizona. Volume for the stock proved 304,000, or about a quarter of its normal daily volume.
A release issued by the company on July 5 declared that the London-based Tuffnell has initiated Phase III drilling at the Little Butte Project in western Arizona. Drilling of three fences of east-west angle holes across a north-south trending geophysical target will test the continuity of gold/copper mineralization and the relationship of it to the anomaly.
The drilling program will consist of approximately 5,000 feet of Reverse Circulation (RC) drilling and include one deeper vertical hole to test an interpreted intrusive associated with the anomaly. Results are expected within four to six weeks.
In 2010, Tuffnell conducted a gradient IP-resistivity survey over a 3,600 by 3,600 feet area using 30-meter dipole spacing along east-west lines spaced 100 meters apart. The survey was completed by Zonge Engineering of Tucson and interpreted by Frank Fritz, a highly respected geophysicist.
Officials of the company were not available for comment.
Tuffnell Ltd. is a mineral exploration company focused on maximizing returns for its shareholders by exploring and developing low-cost gold assets in proven mining districts. With a focus primarily on the State of Arizona, Tuffnell Ltd. has put together a team of highly qualified, strongly motivated individuals with the experience required to advance its corporate vision.
