Detour Gold Reports More Results from 2007 Phase II Drilling at its Detour Lake Property in Northern Ontario, Canada
Thu Apr 10, 8:30 AM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - April 10, 2008) - Detour Gold Corporation (TSX: DGC.TO) ("Detour Gold" or the "Company") is pleased to report the drill results of 19 holes from its Phase II drilling program at the Detour Lake property in northern Ontario. The Company started Phase II drilling in July 2007 and thus far has completed 265 holes totaling 102,225 metres (including 16 holes abandoned for 1,377 metres). The Company has now reported 121 holes totaling 40,952 metres (including 12 holes abandoned for 1,116 metres). The Company has added an additional 15,000 metres to its Phase II program which now totals 135,000 metres. There are six (6) active drill rigs on site, all of which are on the Phase II program.
The best mineralized (uncut) intervals encountered are shown below.
West Pit: Calcite Zone:
---------------------------------------------------------------------------
DG-07-234 DG-07-223 DG-07-228
--------- --------- ---------
3.03 g/t over 7.14 g/t over 1.52 g/t over
24.0 m 30.0 m 34.0 m
15.21 g/t over 1.75 g/t over
12.0 m 30.0 m
7.98 g/t over
7.0 m
Gap Zone:
---------------------------------------------------------------------------
DG-07-216 DG-07-224 DG-07-226 DG-07-231
--------- --------- --------- ---------
2.11 g/t over 3.59 g/t over 16.18 g/t over 1.70 g/t over
36.0 m 16.0 m 7.0 m 52.0 m
3.83 g/t over 37.78 g/t over
23.0 m 7.0 m
14.31 g/t over
11.0 m
Gold mineralization was encountered in all four (4) drill holes targeting the Calcite Zone. Holes DG-07-223 and DG-07-228 intersected significant mineralization at the contact with the Chert Marker Horizon (CMH), outside the boundaries of the 2007 estimated US$575 and US$700 pit shells. The Company is currently drilling the western extension of the Calcite Zone and has now intersected gold mineralization (VG) up to section 17,500E, approximately 560 metres west from the most westerly reported hole (DG-07-209) on section 18,060E. The near-surface gold mineralization intersected by Placer Dome during the late 90s while drilling the deeper QK zone is now being tested by Detour Gold. There is potential to find additional near-surface mineralization further west, over a strike length of at least 1.5 kilometres.
In the Gap Zone area, results from all seven (7) drill holes continue to be encouraging. Four (4) holes successfully tested the northern extension of the + 200 metre wide mineralized corridor within the US$575 pit shell. Holes DG-07-216 and DG-07-224 intersected multiple mineralized zones that have extended the width of the corridor to over 350 metres. The extent of the northern limits of the mineralized corridor remains to be defined in certain areas of the Gap Zone and West Pit.
From the eight (8) holes (including two abandoned holes) drilled in the West Pit area, significant mineralization was intersected in holes DG-07-208A and DG-07-221A at the east end of the West Pit in the hanging wall and footwall contact of the CMH, outside of the boundaries of the 2007 estimated US$575 pit shell. Earlier this year, the Company obtained significant results from several holes within the same rock units just below the US$575 pit boundary in the east part of the West Pit area (i.e. DG-07-194A intersected 16.97 g/t over 15 metres; see press release February 12, 2008). The Company has added more holes to its Phase II program with the objective, in part, of defining more ounces over a strike length of approximately 500 metres in the eastern part of the West Pit area.
The 2007-08 Phase II program which was increased from 120,000 metres to 135,000 metres is expected to be completed by mid-2008. The 15,000 metres added will test areas that are at the limits of, or outside of, the boundaries of the US$575 pit shell. The Company plans to release a mineral resource update by mid-2008, which would include Phase I and Phase II drill results received as of June 2008. Drill results announced to date are expected to increase the current open pit resource base of 4.8 million ounces in the measured and indicated categories (1.22 M oz in measured and 3.61 M oz in indicated) and 3.0 million ounces in the inferred category, using a gold price of US$575/oz (equivalent to a cut-off grade of 0.64 g/t gold and capped at 20 g/t gold).
Regional Exploration Program
Detour Gold has completed a 12,055 metre regional drilling program on the Detour Lake Property. Approximately six kilometres of the Sunday Lake Deformation Zone was tested with 5,389 metres in 20 holes, all east of the Detour Lake deposit. Another 3,981 metres in 11 holes targeted the North Walter Lake area and 2,685 metres in 7 holes tested the eastern continuation of the M Zone on the Detour Lake property. Results for the entire program will be released at the end of the month.
Feasibility Study Update
The feasibility study contemplates an open pit operation of greater than 30,000 tonnes per day over life of mine. The throughput capacity is expected to be assessed in the next few months as BBA of Montreal, Quebec completes the mine design and pit optimization.
The Company has appointed Patrick Rummel as Environmental Manager for the Detour Lake project. In addition, environmental studies for the Company's Environmental Impact Assessment started in the first quarter of 2008 with AMEC of Mississauga, Ontario.
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or detourgold.com on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The December 2007 mineral resource was prepared by Thon Consulting and audited by Michael W. Kociumbas, P.Geo., Vice-President of Watts, Griffis and McOuat Limited. Details on the current mineral resource are available in the January 2008 Technical Report, which is posted on the Company's website or on SEDAR ( www.sedar.com).
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold (greater than 5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control, refer to the press release dated April 11, 2007.
Forward-Looking Information
This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding: the Company's intent to advance the Detour Lake Project towards the development stage, including the planned drilling program and feasibility study for 2008; and the Company's estimate of the quantity and quality of its mineral resources. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties involved in interpreting geological data and other risks involved in the gold exploration and development industry as well as those risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR. Readers are cautioned that the list of factors included in the AIF is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the following assumptions: the Company's exploration and development activities on the Detour Lake Property will proceed in accordance with the Company's current timetables; certain consumables and services will be available to the Company when needed and on terms satisfactory to the Company; and the Company's resource estimates, geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources) and operational and price assumptions on which the resource estimates are based, are accurate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Detour Lake Project - Highlights of Drill Results
---------------------------------------------------------------------------
Au
Au Cut to Host
Hole Section From To Length Uncut 20 g/t Rock
No. No. (m) (m) (m) (g/t) (g/t) Unit
---------------------------------------------------------------------------
DG-07-208 19,840E No significant results, hit stope at 262.2m
(West Pit)
---------------------------------------------------------------------------
DG-07-208A 19,840E 130.0 138.0 8.0 2.58 2.58
(West Pit) -----------------------------------------------------
364.0 378.0 14.0 1.17 1.17
-----------------------------------------------------
401.0 420.0 19.0 1.90 1.90 CMH
---------------------------------------------------------------------------
DG-07-211 19,720E 89.0 98.0 9.0 3.07 3.07 CMH
(West Pit)
---------------------------------------------------------------------------
DG-07-216 18,620E 93.0 100.0 7.0 1.23 1.23
(Gap Zone) -----------------------------------------------------
210.0 234.0 24.0 1.22 1.22 Upper
Pillow
Flow
-----------------------------------------------------
253.0 260.0 7.0 3.15 3.15
-----------------------------------------------------
307.0 323.0 16.0 1.93 1.93 Mafic
Flow
-----------------------------------------------------
357.0 393.0 36.0 2.11 1.99 Pillow
Flow
-----------------------------------------------------
Inc. 379.0 380.0 1.0 24.10 20.00
-----------------------------------------------------
442.0 453.0 11.0 1.63 1.63
-----------------------------------------------------
530.0 553.0 23.0 3.83 3.55 Upper
Pillow
Flow
-----------------------------------------------------
Inc. 542.5 543.0 0.5 32.97 20.00
-----------------------------------------------------
575.5 586.5 11.0 14.31 4.80 Lower
Pillow
Flow
-----------------------------------------------------
Inc. 579.0 579.5 0.5 22.22 20.00
-----------------------------------------------------
Inc. 580.0 580.5 0.5 227.21 20.00
---------------------------------------------------------------------------
DG-07-221 19,800E Abandoned in overburden, not sampled
(West Pit)
---------------------------------------------------------------------------
DG-07-221A 19,800E 499.0 519.0 20.0 1.06 1.06
(West Pit)
---------------------------------------------------------------------------
DG-07-223 18,260E 26.0 34.0 8.0 2.44 2.44
(Calcite Zone) -----------------------------------------------------
68.0 80.0 12.0 1.84 1.84
-----------------------------------------------------
93.0 100.0 7.0 1.28 1.28
-----------------------------------------------------
247.0 255.0 8.0 2.27 2.27
-----------------------------------------------------
331.0 338.0 7.0 1.13 1.13
-----------------------------------------------------
422.0 452.0 30.0 7.14 1.71 CMH/MF
contact
-----------------------------------------------------
Inc. 425.5 426.0 0.5 232.88 20.00
-----------------------------------------------------
Inc. 426.0 426.5 0.5 132.93 20.00
---------------------------------------------------------------------------
DG-07-224 18,660E 207.0 218.0 11.0 1.49 1.49
(Gap Zone) -----------------------------------------------------
244.0 255.0 11.0 0.78 0.78
-----------------------------------------------------
305.0 312.0 7.0 1.43 1.43
-----------------------------------------------------
331.0 338.0 7.0 2.26 2.26
-----------------------------------------------------
357.0 373.0 16.0 2.18 2.18 Upper
Mafic
Flow
-----------------------------------------------------
380.0 387.0 7.0 3.61 3.61 Upper
Pillow
Flow
-----------------------------------------------------
406.0 416.0 10.0 1.06 1.06
-----------------------------------------------------
429.0 445.0 16.0 3.59 1.79 Lower
Pillow
Flow
-----------------------------------------------------
Inc. 441.0 442.0 1.0 48.80 20.00
-----------------------------------------------------
505.0 519.3 14.3 1.12 1.12
---------------------------------------------------------------------------
DG-07-226 18,960E 29.0 36.0 7.0 16.18 6.74 Upper
(Gap Zone) Mafic
Flow
-----------------------------------------------------
Inc. 32.0 33.0 1.0 35.80 20.00
-----------------------------------------------------
Inc. 33.0 34.0 1.0 70.30 20.00
-----------------------------------------------------
111.0 118.0 7.0 2.46 2.46
-----------------------------------------------------
180.0 187.0 7.0 1.24 1.24
-----------------------------------------------------
217.0 224.0 7.0 2.63 2.63
-----------------------------------------------------
267.0 274.0 7.0 2.70 2.70
-----------------------------------------------------
317.0 324.0 7.0 37.78 5.92 Pillow
Flow
-----------------------------------------------------
Inc. 318.0 319.0 1.0 141.00 20.00
-----------------------------------------------------
Inc. 319.0 320.0 1.0 122.00 20.00
-----------------------------------------------------
393.0 408.0 15.0 2.35 2.35 Lower
Pillow
Flow
-----------------------------------------------------
454.0 461.0 7.0 1.49 1.49
-----------------------------------------------------
538.0 548.0 10.0 4.36 2.83 CMH
-----------------------------------------------------
Inc. 538.0 539.0 1.0 35.30 20.00
---------------------------------------------------------------------------
DG-07-227 19,320E 67.0 75.0 8.0 1.41 1.41
(West Pit) -----------------------------------------------------
89.0 106.0 17.0 1.15 1.15
-----------------------------------------------------
132.0 142.0 10.0 1.06 1.06
-----------------------------------------------------
176.5 187.0 10.5 1.17 1.17
-----------------------------------------------------
287.0 309.2 22.2 2.10 2.10 Contact
MF/PF
-----------------------------------------------------
324.0 331.0 7.0 1.31 1.31
-----------------------------------------------------
400.0 426.0 26.0 0.86 0.86
-----------------------------------------------------
434.0 441.0 7.0 1.43 1.43
-----------------------------------------------------
494.0 503.0 9.0 0.92 0.92
---------------------------------------------------------------------------
DG-07-228 18,140E 84.0 118.0 34.0 1.52 1.52 Pillow
(Calcite Zone) Flow
-----------------------------------------------------
160.0 167.0 7.0 3.40 1.86
-----------------------------------------------------
Inc. 162.0 162.5 0.5 41.63 20.00
-----------------------------------------------------
180.0 206.0 26.0 0.76 0.76
-----------------------------------------------------
256.0 286.0 30.0 1.75 1.30 Lower
Pillow
Flow
-----------------------------------------------------
Inc. 276.5 277.0 0.5 47.11 20.00
-----------------------------------------------------
319.0 326.0 7.0 2.17 2.17
-----------------------------------------------------
393.0 403.0 10.0 0.99 0.99
-----------------------------------------------------
460.0 467.0 7.0 7.98 7.98 Lower
Mafic
Flow
-----------------------------------------------------
484.0 491.0 7.0 1.01 1.01
-----------------------------------------------------
518.0 537.0 19.0 1.99 1.91 CMH
-----------------------------------------------------
Inc. 518.0 519.0 1.0 21.50 20.00
---------------------------------------------------------------------------
DG-07-229 18,700E 172.0 180.0 8.0 1.26 1.26
(Gap Zone) -----------------------------------------------------
216.0 228.0 12.0 1.23 1.23
-----------------------------------------------------
251.0 258.0 7.0 2.01 2.01
-----------------------------------------------------
306.0 313.0 7.0 5.38 3.98 Upper
Mafic
Flow
-----------------------------------------------------
Inc. 312.0 313.0 1.0 29.80 20.00
---------------------------------------------------------------------------
DG-07-231 18,840E 102.0 112.0 10.0 0.74 0.74
(Gap Zone) -----------------------------------------------------
127.0 135.0 8.0 2.57 2.57
-----------------------------------------------------
147.0 162.0 15.0 0.79 0.79
-----------------------------------------------------
270.0 322.0 52.0 1.70 1.70 Upper
Pillow
Flow
-----------------------------------------------------
410.0 423.0 13.0 1.43 1.43
-----------------------------------------------------
436.0 446.0 10.0 1.19 1.19
-----------------------------------------------------
457.0 538.0 Assays pending
-----------------------------------------------------
545.0 555.0 10.0 1.36 1.36
-----------------------------------------------------
573.0 580.0 7.0 1.37 1.37
-----------------------------------------------------
590.7 601.0 10.3 1.50 1.50
---------------------------------------------------------------------------
DG-07-234 19,300E 100.0 107.0 7.0 1.29 1.29
(West Pit) -----------------------------------------------------
131.0 154.0 23.0 3.16 1.95 Lower
Pillow
Flow
-----------------------------------------------------
Inc. 147.5 148.0 0.5 25.49 20.00
-----------------------------------------------------
Inc. 148.0 148.5 0.5 69.88 20.00
-----------------------------------------------------
231.0 243.0 12.0 0.94 0.94
-----------------------------------------------------
298.0 310.0 12.0 15.21 2.00 Lower
Mafic
Flow
-----------------------------------------------------
Inc. 306.2 306.7 0.5 320.51 20.00
-----------------------------------------------------
Inc. 309.0 309.5 0.5 36.52 20.00
-----------------------------------------------------
347.0 356.5 9.5 1.50 1.50
---------------------------------------------------------------------------
DG-07-235 18,340E 39.0 48.0 9.0 1.11 1.11
(Calcite Zone) -----------------------------------------------------
198.0 221.0 23.0 1.11 1.11 Pillow
Flow
-----------------------------------------------------
286.0 294.0 8.0 0.95 0.95
---------------------------------------------------------------------------
DG-07-236 19,200E 17.0 30.0 13.0 0.90 0.90
(Gap Zone) -----------------------------------------------------
50.0 57.0 7.0 4.88 1.54 Pillow
Flow
-----------------------------------------------------
Inc. 53.0 53.5 0.5 66.69 20.00
-----------------------------------------------------
159.0 166.0 7.0 1.23 1.23
-----------------------------------------------------
188.0 195.0 7.0 1.04 1.04
-----------------------------------------------------
202.0 209.0 7.0 7.02 1.88 Mafic
Flow
-----------------------------------------------------
Inc. 206.7 207.2 0.5 91.96 20.00
-----------------------------------------------------
288.0 314.0 26.0 1.79 1.70 Lower
Mafic
Flow
-----------------------------------------------------
Inc. 313.0 314.0 1.0 22.20 20.00
---------------------------------------------------------------------------
DG-07-237 19,280E 28.2 35.0 6.8 1.80 1.80
(West Pit) -----------------------------------------------------
97.0 117.0 20.0 0.91 0.91
-----------------------------------------------------
135.0 142.0 7.0 1.00 1.00
---------------------------------------------------------------------------
DG-07-239 18,380E 17.0 24.0 7.0 0.79 0.79
(Calcite Zone) -----------------------------------------------------
30.0 38.0 8.0 0.80 0.80
-----------------------------------------------------
158.0 167.0 9.0 0.90 0.90
-----------------------------------------------------
189.0 196.0 7.0 1.11 1.11
-----------------------------------------------------
211.0 239.0 28.0 0.71 0.71
-----------------------------------------------------
248.0 267.0 19.0 0.83 0.83
-----------------------------------------------------
286.0 293.0 7.0 1.14 1.14
-----------------------------------------------------
474.0 483.0 9.0 1.52 1.52
-----------------------------------------------------
497.7 506.0 8.3 1.14 1.14
---------------------------------------------------------------------------
DG-07-252 19,000E 63.0 71.0 8.0 1.12 1.12
(Gap Zone)
---------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the table.
True width is estimated to be 65 to 75% of the drilled length.
Contacts
Gerald Panneton
Detour Gold Corporation
President and CEO
(416) 304-0800
Laurie Gaborit
Detour Gold Corporation
Director Investor Relations
(416) 304-0581
Website: www.detourgold.com |
