Oct 10, 2007 06:00 ET
Trade Winds Intersects 19.27 Grams/Tonne Gold Over 7.18 Metres Within the M Zone on Block A Property at Detour Lake, Ontario
TIMMINS, ON--(Marketwire - October 10, 2007) - Trade Winds Ventures Inc. (TSX VENTURE: TWD) (FSE: TVR) is pleased to announce more results from its 13,000 metre 2007 winter diamond drill program on Block A at Detour Lake, Ontario. Block A is being explored as a 50/50 Joint Venture between Detour Gold Corporation (TSX: DGC) (50%) and Trade Winds (50%), the operator during the exploration phase. The purpose of drilling these four holes, TWDDH-235 & TWDDH-237 on Section 16140E, TWDDH-238 on Section 16620E and TWDDH-236 on Section 16660E, is to determine the continuity of the M Zone structural corridor by infill drilling previous excellent results at a 40 meter spacing. The M Zone ultramafic and numerous other gold bearing structures were intersected in all four holes, with gold mineralization ranging from approximately 20 metres to 191 metres below surface and approximately 40 metres above or below previous drilling on those sections.
In March of 2006, Trade Winds discovered new, near surface mineralization along the M Zone corridor (see news release May 16, 2006). Phase 1 of this winter's drilling was to explore the mineralization of this new zone along a 480 metre strike between sections 15380E and 15860E. Today's results on these three sections represent the continuation of the Phase 2 infill drilling of the October 2006 Resource Estimate.
On Section 16140E, diamond drill hole TWDDH-235 returned 13.96 grams/tonne over 3.00 metres, 2.30 grams/tonne over 2.00 metres, and 7.92 grams/tonne gold over 12.00 metres including 148.50 grams/tonne over 0.50 metre.
Diamond drill hole TWDDH-237 returned 5.58 grams/tonne over 1.00 metre and 93.10 grams/tonne over 0.50 metre.
On Section 16620E, diamond drill hole TWDDH-238 returned 30.59 grams/tonne over 1.25 metres, including 75.30 grams/tonne over 0.50 metre, and 19.27 grams/tonne over 7.18 metres, including 20.10 grams/tonne over 1.18 metres and 106.00 grams/tonne over 1.00 metre.
On Section 16660E, diamond drill hole TWDDH-236 returned 8.34 grams/tonne over 2.00 metres, 24.90 grams/tonne over 1.00 metre and 6.26 grams/tonne over 2.00 metres.
Details of significant fire assay results received for recent holes completed on Sections 16140E, 16620E and 16660E are as follows:
HOLE NAME FROM TO Depth LENGTH ASSAY COMPOSITE
(m.) (m.) Vertical (m.) (g/tonne (g/tonne
(m.) gold) gold)
16140E
TWDDH-235 51 61 42 10.00 1.83
69 72 56 3.00 13.96
Including 71 72 1.00 38.90
16140E
TWDDH-235 102 103 83 1.00 6.91
104.7 105.2 85 0.50 6.88
186 188 152 2.00 2.30
205 217 168 12.00 7.92
Including 215.3 215.8 0.50 148.50
233.9 234.4 191 0.50 23.70
TWDDH-237 29 30 23 1.00 1.95
36 37 29 1.00 4.75
112.96 114 92 1.04 5.58
150.5 151 123 0.50 93.10
155 156 127 1.00 3.08
181 182 148 1.00 6.28
16620E
TWDDH-238 24.86 25.36 20 0.50 9.57
60 61 48 1.00 3.46
107.75 109 88 1.25 30.59
Including 107.75 108.25 0.50 75.30
133.82 141 109 7.18 19.27
Including 133.82 135 1.18 20.10
and 140 141 1.00 106.00
191 195.5 156 4.5 1.75
16660E
TWDDH-236 31 33 25 2.00 8.34
Including 32 33 1.00 14.90
163 164 133 1.00 24.90
179 181 146 2.00 6.26
Including 179 180 1.00 9.48
True Width is estimated to be between 65-75% of core length. Drawings for
Sections 16140E, 16620E and 16660E are available on the Company's website
www.tradewindsventures.com.
Diamond drill hole location and final depths for the M Zone diamond drill
program on Sections 16140E, 16620E and 16660E are as follows:
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Section Hole # Northing Easting Azimuth Dip Length(m)
---------------------------------------------------------
16140E TWDDH-235 20616.9 16138.3 180 -55 240.00
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TWDDH-237 20582.0 16137.8 180 -55 229.00
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16620E TWDDH-238 20539.4 16618.3 180 -55 198.00
---------------------------------------------------------
16660E TWDDH-236 20561.6 16660.1 180 -55 267.00
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The M Zone structural corridor is a gold bearing structure that begins near surface at the eastern boundary of Block A, and plunges gently westward along strike for over four kilometres on to the immediately adjacent 100% owned Gowest property. Two significant mineralized zones occur along a komatiite structure, the Upper and Lower M Zone gold zones. The near surface and other portions of the M Zone structural corridor drilled to date are the subject of our recent NI 43-101 compliant resource estimate (October 2006). The 2007 M Zone winter drilling program was designed to test the westward near surface extension of the known gold mineralization with the purpose of adding new gold ounces to the resource estimate, and upgrading the current near surface inferred resource to the indicated category.
Golder Associates Ltd. (Golder) was commissioned by Trade Winds to provide an independent Mineral Resource Estimate in conformance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Mineral Resource and Mineral Reserve definitions referred to in the National Instrument NI 43-101, Standards of Disclosure for Mineral Projects. The resource estimation work was completed in October 2006 and is based on information contained within the Technical Report prepared by Golder on Trade Winds behalf and filed on SEDAR, which, using a cut-off of 1.0 grams/tonne, outlines an indicated resource of 14,158,000 tonnes grading 1.77 grams Au/t containing 804,321 ounces of gold and an inferred mineral resource of 24,796,000 tonnes grading 1.88 g Au/t containing 1,499,552 ounces of gold.
Mr. Alex Burton, P. Eng., P. Geo., is the qualified person for Trade Winds' projects at Detour Lake. Trade Winds, as operator of the projects, has implemented a quality control program to ensure best practice in the sampling and analysis of the drill core. All fire assay results are being provided by ALS Chemex.
Management is looking to increase shareholder value by working towards the completion of the spin-out of its Tuole Gold/Copper and the Silu Zinc/Lead projects, located in the Peoples Republic of China, to a wholly owned subsidiary. Western China Mining ("WCH") proposes to list on a Canadian stock exchange following an Initial Public Offering (IPO) to fund the development programs for these projects. It is expected that TWD would own approximately 50% of WCH prior to the distribution to shareholders. The assignments have been made, the NI 43-101 reports are completed and signed, and the audit of WCH is underway. Following completion of the audit, the Offering Prospectus will be submitted for initial review by the BCSC, ASC and OSC.
TWD has indicated that it will look at similar spin-out strategies for its other Canadian projects, which include a 60% option in the Birch Lake, Ontario gold project and its 100% interests in the Turner Lake, Nunavut project and its Treasure Mountain copper property and Dardanelles gold property in B.C. These spin-out strategies are being designed to improve the identification and valuation of each specific TWD property and to enable TWD to separately finance and develop its various assets, selectively reducing stock dilution.
Visit our Website at www.tradewindsventures.com
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
i.Voraus
und welche Silberwerte nehmen wir zusätzlich WL? Sabina.........andere Vorschläge?
was geht den da jetzt schon vorbörslich ab auf der Geldseite 300k.......
Detour auch fett. Schön für Pelangio, jeder Cad 20 Mio mehr in de Täsch!
