September 04, 2011 01:19 am
.August 30, 2011
Tigray Resources Inc. to Commence Trading on the TSX Venture Exchange
| ||Vancouver, BC, August 30, 2011 - Tigray Resources Inc.|
(TSX-V: TIG) ("Tigray" or the "Company") is pleased to announce it will begin trading on the TSX Venture Exchange on August 31, 2011 under the symbol TIG.
Tigray was created as a spin-out from Canaco Resources Inc. (TSX-V: CAN) and owns 70% of the Harvest project in Ethiopia, a polymetallic VMS property covering 362 square kilometres in the Neoproterozoic Asmara volcanogenic belt that stretches southward from Eritrea. Prior to the spin-out of Tigray, Canaco drilled 12 holes at Harvest as part of its due diligence process in acquiring the project, 10 of which contained significant mineralization along a strike length of 850 metres and identified a favourable volcanogenic massive sulfide (VMS) mineralized horizon capped by an oxide gold zone. The Company recently launched an 11,000-metre first phase drill program, with one rig currently drilling and up to two more planned in the coming weeks.
Tigray President and CEO Andrew Lee Smith said: "We are excited to see Tigray come to trade and we believe it represents a unique opportunity for investors to gain exposure to the emerging mineral exploration sector in Ethiopia. Our first phase drill program at Harvest is now under way at Terakimti, one of six concessions on the Harvest property, where our due diligence drilling last year led to the discovery of significant oxide gold and primary VMS mineralization and identified potential for supergene mineralization." About Tigray
Tigray is a Canadian mineral exploration company focused on advancing early stage mineral projects in the Tigray region of Ethiopia. Tigray's key property is the 70%-owned Harvest VMS project, located 600 kilometres north-northwest of the capital city of Addis Ababa. Tigray trades on the TSX Venture Exchange under the symbol TIG. On behalf of the Board of Directors:
Andrew Lee Smith, P.Geo.
President, CEO and Director For further information contact:
Meghan Brown, Director Investor Relations