Trelawney Resources Inc.: Deepest Hole Drilled to Date Hits Widespread Gold Mineralization
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TORONTO, ONTARIO--(CCNMatthews - Feb. 20, 2007) - Trelawney Resources Inc.
(TSX VENTURE:TRR) reports assay results for seven holes from the ongoing
drilling program on the Mishi Project, located 50 kilometres northwest of
Wawa, Ontario. All holes intersected the Dorset Deformation Zone (DDZ), and
all holes returned significant gold values.
Hole MC-07-76 represents the deepest hole drilled on the Dorset Zone to
date and it returned an averaged grade of 2.02 g/t gold over 12.8 metres
(41.9 feet) including a higher grade section of 4.1 g/t gold over 3.4
metres. Hole MC-07-76 was drilled on the same section as previously
reported holes MC-06-51, MC-06-54, MC-07-61, MC-07-62 and MC-07-69. Results
for these holes are summarized in the following table:
/T/
Depth of
Intercept
Estimated below
Core True surface
From To Grade Length Width (metres)
Hole (Metres) (Metres) (g/t Au) (metres) (metres) (estimated)
---------------------------------------------------------------------------
(a)MC-06-51
(-45 degrees) 126.2 138.7 3.26 12.5 12.0 97
Including 128.4 136.6 4.71 8.2 7.9
Including 131.9 134.9 9.21 3.0 2.9
---------------------------------------------------------------------------
(a)MC-06-54
(-70 degrees) 153.2 170.1 2.06 16.9 13.0 150
Including 154.0 160.5 3.80 6.5 5.0
Including 156.0 160.5 4.37 4.5 3.5
---------------------------------------------------------------------------
(a)MC-07-61
(-45 degrees) 163.6 167.3 1.63 3.7 3.6 120
Including 163.6 164.7 2.69 1.1 1.0
---------------------------------------------------------------------------
(a)MC-07-62
(-70 degrees) 182.8 200.8 2.56 18.0 15.3 185
Including 185.5 194.5 3.77 9.0 7.7
Including 188.5 192.5 5.50 4.0 3.4
---------------------------------------------------------------------------
(a)MC-07-69
(-45 degrees) 97.7 108.9 2.18 11.2 10.8 70
Including 97.7 106.0 2.74 8.3 8.0
Including 103.7 106.0 6.56 2.3 2.2
---------------------------------------------------------------------------
MC-07-76 260.3 273.1 2.02 12.8 10.8 230
Including 262.0 265.4 4.10 3.4 2.9
---------------------------------------------------------------------------
(a) Previously released results - see press releases dated October 12,
2006, January 10, 2007 and February 8, 2007.
/T/
Drill hole MC-07-76 represents the deepest hole drilled on this section to
date, and the dip length along the zone, from the intercept in hole
MC-07-69 to that in MC-07-76 is approximately 190 metres. This further
demonstrates the continuity, depth extent and depth potential of the Dorset
Gold Zone. The Dorset Zone remains open in all directions.
Other holes also returned significant gold results over widths (core
lengths) of up 23 metres. Detailed results of each hole are listed in the
following table:
/T/
Estimated
Core True
From To Grade Length Width
Hole (Metres) (Metres) (g/t Au) (metres) (metres)
---------------------------------------------------------------------------
MC-07-70 (-45 degrees) 71.8 82.8 2.08 11.0 10.6
---------------------------------------------------------------------------
MC-07-71 (-70 degrees) 80.1 103.1 1.29 23.0 19.5
Including 88.4 99.7 1.64 11.3 9.6
---------------------------------------------------------------------------
MC-06-72 (-45 degrees) 24.7 40.1 1.22 15.4 14.8
30.2 33.8 2.54 3.6 3.4
---------------------------------------------------------------------------
MC-06-60 Assays pending
---------------------------------------------------------------------------
MC-07-73 (-45 degrees) 93.8 97.1 2.56 3.3 3.1
---------------------------------------------------------------------------
MC-07-74 (-45 degrees) 48.4 52.4 2.61 4.0 3.8
---------------------------------------------------------------------------
MC-07-75 (-45 degrees) 102.2 104.8 1.36 2.6 2.5
---------------------------------------------------------------------------
/T/
All split or sawn core samples were submitted to Accurassay Laboratories
Ltd., Thunder Bay, Ontario, and/or Swastika Laboratories, Swastika,
Ontario. All gold assaying was performed using a 30g standard fire assay
with an AA and/or gravimetric finish.
Since early January 2007, the Company has completed 37 drill holes
(MC-07-61 to MC-07-98) all of which intersected the Dorset Deformation
Zone. Assay results are pending for all other holes which are not reported
in this release.
The purpose of the drilling program is to provide sufficient drill
information to outline an (NI 43-101 compliant) inferred mineral resource
for the Dorset Zone, to further evaluate the open pit potential and to test
the on strike and depth potential of the zone.
Wayne O'Connor, President of Trelawney stated:
"As a result of the detailed logging of the drill holes, our geological
consultant, Robert Duess, has been able to resolve the complex structural
pattern which hosts the gold mineralization within the Dorset Gold Zone. By
doing so, we have had a near 100% success hit ratio on the 60 holes we have
completed to date in the Dorset Zone. This is a remarkable accomplishment
at such an early point in time for any gold exploration program!"
The Dorset Zone is a primary, hydrothermal, stratiform, gold system with a
minimum strike length of 1 kilometre. Airborne geophysical work suggests
the Dorset Zone may have a potential strike length of about 6 kilometres.
Trelawney is earning up to a 70% interest in the property from MetalCorp
Ltd. by spending $2 million on exploration, by completing a feasibility
study and issuing shares to MetalCorp.
A drilling program on the Mishibishu Lake Property optioned from Murgor
Resources Inc. will also be conducted this winter as part of the expanded
20,000 metre drilling program. The Mishibishu Lake Property contains more
than 30 known gold occurrences, the most important of which is the Martin
Zone. The geology of the Martin Zone consists of pyrite and arsenopyrite
mineralization in deformed, altered and quartz veined mafic metavolcanics.
This zone has been traced for over a kilometre along strike in drill holes
and trenches where assay results of 5.5 g/t Au over five metres were
obtained from previous drilling. Ground and airborne geophysical surveys
suggest that the zone may continue for more than three kilometres along
strike. The Martin Zone appears to be similar in style and orientation to
the Dorset Zone which is located about 400 metres to the north.
Trelawney is the largest land holder in the entire Wawa/Hemlo mining camp
with approximately 21,000 acres now under its control. The Company's
neighbour, gold producer Wesdome Gold Mines Ltd. holds approximately 16,000
acres. Trelawney has assembled the largest land package in this area since
the Hemlo staking rush in the 1980s. The consolidated property contains
over 48 known gold occurrences attesting to the potential of the Mishibishu
greenstone belt.
Robert Duess, P. Geo. is a "Qualified Person" as defined in National
Instrument 43-101 and is responsible for the technical information
presented in this news release.
Shares Issued: 72,050,188
Statements in this press release regarding the Company's business which are
not historical facts are "forward-looking statements" that involve risks
and uncertainties, such as estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect
that the Company or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Trelawney Resources Inc.
Wayne J. O'Connor
President and CEO
(416) 361-2826
Email: wayne@trelawneyresources.com
Website: www.trelawneyresources.com
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. |
