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Abstract
(Marketwire - Oct. 7, 2010) - TNR Gold Corp. (TSX VENTURE:TNR) is pleased to announce that it has incorporated a wholly owned British Columbia subsidiary, Ameri Gold Corp. ("Ameri Gold") which will focus on realizing the potential of its Shotgun Gold project in Alaska. It is another step in a process of maximizing assets' value for the shareholders of TNR Gold by unlocking the value of the Shotgun project in times of historic high gold prices.
The Shotgun project is located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in Southwestern Alaska, an area emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun project includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects in the Shotgun Project area and that of the Donlin Creek gold deposit as well as other intrusion associated deposits.
Although the style of gold mineralization in sills at Winchester is quite different from the quartz-breccia stockwork that hosts the gold at Shotgun Ridge, the two prospects are geochemically very similar and are considered to be part of the same overall system. TNR believes a major structural axis, encountered in several drill sections, is critical to the mineralization and runs parallel to the ridge at Winchester. The next phase of exploration at Winchester will extend into the untested area along the ridge to the west in the direction of the structural axis.