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Tumi Resources Ltd
Symbol TM
Shares Issued 34,447,039
Close 2010-08-30 C$ 0.09
Market Cap C$ 3,100,234
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Tumi identifies unmined mineral resource at Tomtebo

2010-08-31 10:06 ET - News Release

Mr. David Henstridge reports

TUMI'S RESEARCH UNCOVERS HISTORICAL RESOURCE AT TOMTEBO, SWEDEN

Tumi Resources Ltd.'s recently found documentation relating to previous Tomtebo mining operations has revealed an unmined historical mineral resource at Tomtebo in Sweden.

The historic Tomtebo mine is located 25 kilometres southeast of the city of Falun, Sweden. Earliest records indicate that the Tomtebo mine was first discovered and developed in the mid-17th century, but detailed production records were kept only from the mid-19th century onward. The mine has been closed since 1969 though exploration work continued underground until 1972. The host rocks are cordierite quartzite and mica schists which grade into biotite-andalusite-bearing quartzite. These rocks are derived from highly potassic rhyolite tuffs. The ore at the Tomtebo mine occurs in minor folds as lenses or stringers on both flanks of a steeply dipping antiform structure where a larger orebody was mined. Between 1836 and 1837, 1,841 tons of copper and 1,077 tons of sulphur were produced. The copper content of the ore varied from 3 per cent to 5.3 per cent between the years 1915 and 1919. The average ore grade during the last phase of mining, between 1965 and 1969, was about 1 per cent copper, 1 per cent zinc and 35 per cent sulphur. Copper concentrate produced contained on average 140 grams per tonne silver and nine g/t gold.

During detailed research of literature pertaining to the Tomtebo licence area, a report written by Birger Hellegren in 1983 was found. The report details unmined resources when the Tomtebo mine was closed. The mine was accessed by a 244 m deep, 4.2 m diameter shaft sunk between 1965 and 1968, and resources remaining between the surface and the 200 m level are estimated at 385,000 tonnes grading 0.67 per cent copper, 1.84 per cent lead, 3.72 per cent zinc, 0.66 g/t gold and 55 g/t silver. The data are historical in nature and were compiled prior to the implementation of National Instrument 43-101 reporting standards. Tumi has not completed sufficient exploration to verify the estimates and is not treating them as NI 43-101-defined resources or reserves verified by a qualified person; the historical estimate should not be relied upon.

In 2007 (see press release in Stockwatch dated Dec. 10, 2007), the company completed an induced polarization (IP) survey at Tomtebo covering an area of 1,000 m by 800 m centred on an airborne electromagnetic (EM) anomaly located two years earlier (see press release in Stockwatch dated Nov. 14, 2006). The IP survey supports the existence of the EM anomaly and, in addition, several previously unknown anomalies with high chargeability and low resistivity were detected. The data collected by the two geophysical surveys have been reviewed, modelled and interpreted by an independent geophysicist in Australia, and several potential drilling targets have been identified in proximity to the old mine. With the discovery of this historical resource, the company will undertake a drill program on these anomalies as soon as capital can be raised.

David Henstridge stated: "There have been discussions recently in Sweden over the possibility of building a central processing plant for base metal ores known in the Bergslagen district. The Tomtebo resource may well be an important immediate source of ore should this plant be built, and hence the company will continue to work towards holding this area for the long term."

The qualified person for Tumi's projects, Anders Hogrelius, a member of the Australian Institute of Geoscientists, has visited Tomtebo, Sweden, and has verified the contents of this news release.

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