TLC Explorations Inc. (TLCX) completes Flow-Thru, raising over $500,000; completes NI 43-101 Technical Report - Monday, February 02 2009
Management of TLC Explorations Inc. (TLCX) is pleased to announce that the company has completed a flow-thru treasury share offer of $520,000 in December 2008. The treasury share proceeds will permit TLCX to continue work on the “Vega Property” as well as preliminary work on its interest in the Advandtel Minerals Canada Ltd. (AMCL) property situated in the Beardmore-Geraldton Gold Camp, east of Thunder Bay, Ontario. TLCX has a 25% carried interest in the AMCL property and a 100% interest in the adjoining "Vega Property" of which the Vega property produced over 115 samples averaging .31 opt Au, with some samples over 2.00 opt Au.
Management will continue stripping and field work on both properties which consist of approximately 2,800 acres, and prepare for the drilling program as suggested in the NI 43-101 Technical Report prepared for the company.
The Helicopter-Borne Mag-Em Geophysical Survey was completed on TLC's behalf by Prospectair Geosurveys Inc. of Gatineau, Quebec. The resulting magnetic and electromagnetic data, which included 221 km of coverage, revealed four primary target trends that are prospective for iron formation and/or shear vein hosted gold.
These results support further work to be performed on the properties, including stripping, geologic mapping and surface sampling in preparation for a drilling program to be initiated during the 2009 season.
As previously stated Kodiak Exploration Limited (KXL-X) acquired the Maki claims directly adjacent to the west of the AMCL property and adjacent north of the TLCX Vega property; now known as the Maki Midas. In its latest report, dated Thursday, January 22, 2009 Kodiak provided 2008 Final Results from the Maki Midas, wherein individual assays ranged up to 9.25 gpt (0.27opt) over 0.4 metres from reconnaissance drilling and gold mineralization was confirmed by drilling over a strike length of 1.5 kilometres. In addition, sampling and mapping have documented an additional 3.5 kilometres of strike potential along this major, regional, gold bearing structure.
The air-borne mag-geo survey carried out on the TLCX/AMCL property confirms the strike continuing west-east from the Maki Midas property over a distance of approximately 5 kilometres. It is Kodiak’s geologists contention that, “this geological setting (Maki Midas) is very similar to that found at the historic multi million ounce MacLeod – Cockshutt mine located 30 kilometres to the east, the focus of Premier Gold’s announced 2009 drill program.”
TLCX management anticipates a continuing release of positive drill results in the immediate area surrounding its claims during the 2009 drilling season, as well as continuing news releases on further development and drilling on its properties during the summer/fall drill season.
For further Information contact:
Charles J. Elbourne, President
TLC Explorations Inc.
E-mail: info@tlcexplorations.com
Phone: 416-849-1223
