|By Marketwired .||
|January 20, 2014 09:30 AM EST|
CALGARY, ALBERTA -- (Marketwired) -- 01/20/14 -- Tanager Energy Inc. (TSX VENTURE:TAN) ("Tanager" or the "Corporation") is pleased to advise that it has engaged Mr. Ike Osmani, President and Chief Geologist of FGC Inc. to complete a compilation report on Tanager's Burchell Lake gold, copper and molybdenum claims located 100 kilometres west of Thunder Bay, Ontario. Tanager's Burchell Lake property is bounded by properties owned by Moss Lake Gold Mines Ltd. on the west and Birch Hill Gold Corp. (formerly Foundation Resources Inc.) on the north. Following evaluation of the compilation report, a 2014 work program for the 5984 hectare property will be developed.
The latest diamond drilling on the Tanager property near Hermia Lake returned gold intercepts up to 7.09 g/t Au over 0.4 m (DDH BU08-7) and 1.81 g/t Au over 3.0 m (BU08-9). Older diamond drill holes returned up to 1.00% Cu over 5.6 m (DDH M7) in the same area.
Only 1.5 km north of northern boundary is Birch Hill Gold Corp.'s East Coldstream Deposit (previously known as the OG Deposit) which hosts an indicated resource of 2.25 million tonnes at a grade of 1.05 g/t Au (76,000 oz) and an inferred resource of 16.975 million tonnes at a grade of 1.01 g/t Au (549,000 oz) both at a 0.6 g/t Au cut off. (See 2011 43-101 Technical Report by TetraTech/Wardrop on SEDAR and Company's website).
On the property on the west boundary of Tanager's claims, Moss Lake Gold Mines Ltd, announced in its new release of July 29, 2013, receipt of results from an independent 43-101 Preliminary Economic Analysis (PEA) on its 100%-owned Moss Lake property, located 100 kilometres due west of Thunder Bay, Ontario. The Moss Lake deposit has Indicated Resources of 39,797,000 tonnes grading 1.1 g/t Au (1,377,300 ounces of gold) and Inferred Resources of 50,364,000 tonnes grading 1.1 g/t Au (1,751,600 ounces of gold).
Mr. Osmani has over 30 years of mineral exploration and management experience in Canada and internationally. He has held various progressively challenging positions within a number of major and junior exploration/mining companies, of which the most recent was Foundation Resources Inc. ("Foundation") where he was the President and Director from 2010 to 2013. At Foundation, Mr. Osmani was involved in overseeing day-to-day operations, both technical and corporate, developing and setting long-term goals and strategic direction for the company. He was directly involved in all exploration and development of Foundation's projects and was instrumental in developing a NI 43-101 compliant gold resource, totaling almost a million ounce gold, with respect to the company's flagship Coldstream project in Ontario.
Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for oil and gas and minerals. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TAN".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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