2merkato

Ethiopia-focused Tigray Resources is making a healthy splash on the TSX Venture Exchange.

On its first day of trading on the TSX Venture Exchange on Wednesday, Tigray Resources charged forward closing up 64 percent at C$1.00 on brisk trading volume. Then it continued the streak, jumping up a further 41 percent to C$1.41 within the first few minutes of trading yesterday.

The investor demand signals strong interest in getting on board one of the TSX Venture Exchange's latest junior explorers.

Tigray Resources Inc has announced that it has completed nine diamond drill holes since mid-August in Ethiopia. The holes are approximately 1700 meters and have been completed on drill sections 80 meters apart at Terakimti and are part of ongoing exploratory drilling.

Drilling is targeting a zone approximately one kilometre in strike length identified through geological, structural and alteration mapping; gold anomalous gossan outcrops; soil geochemical anomalies; IP, resistivity, gravity and EM targeting; and results from 12 previously drilled holes.The lab is expected to deliver the results for the first eight diamond drill holes in four to six weeks.

Tigray Resources encountered an additional copper-polymetallic mineralization close to the site of its successful drilling last year at its Terakimti prospect in Ethiopia.

Tigray highlighted as much as 74 meters of 3.77% copper, 14 g/t silver, 1.31g/t gold, and 0.72% percent at about 57 meters down at the Terakimti site last December.

The latest results from Tigray reveal that it has intersected with 41 meters of 3.24% copper, 25 g/t silver, 1.19 g/t gold and 1.19% zinc at 41 meters away from its previous intercept.

Tigray has launched an 11,000-metre first phase drill program at Harvest project.

Tigray Resources Inc., a Canadian mineral exploration company focused on advancing early stage mineral projects in Ethiopia, announced yesterday that it would begin trading on the TSX Venture Exchange today under the symbol TIG.

Early this month Tigray Resources Inc had received conditional listing approval from the TSX Venture Exchange.

Tigray to immediately launch an 11,000-metre first phase drill program at the Harvest project

Canaco Resources Inc. and Tigray Resources Inc announced last week that Tigray had received conditional listing approval from the TSX Venture Exchange, subject to usual listing requirements. When it is listed, Tigray will file the necessary election to become a public corporation as of the beginning of its first taxation year.

Andrew Lee Smith, president and CEO of both Canaco and Tigray Resources said that the companies were endeavouring to fulfil the listing requirements as quickly as possible in order to facilitate the trading of Tigray shares on the TSX-V.