Trillion Resources Ltd
TLQ TSE
November 18, 1996
Purchase Of Indarama Approved And Drilling Program Initiated
TRILLION RESOURCES LTD ("TLQ-T;TIRUF-L")
- Purchase Of Indarama Approved And Drilling Program - Initiated
Trillion Resources announces that it has received all regulatory approvals to purchase 100% of the
Indarama property in Zimbabwe as initially announced June 21st. Indarama Mines is situated near
Kwekwe in south central Zimbabwe. The Indarama property which comprises 1600 hectares of
mining leases, hosts 3 active mining operations and numerous historic producers including the
Sherwood Star mine which has recorded production of over 480,000 oz of gold. The largest mine
in the region is the nearby Globe and Phoenix which has produced almost 4,000,000 ounces of
gold. Current production from the Indarama project is 18,000 oz gold per year with an expansion
capable of taking the production to 30,000 oz underway.
An initial two phase 41 hole drill program has commenced as part of a C$4.4 million exploration
program. The first target to be drilled is the Ford Porphyry deposit. The prime objective of the drill
program is to obtain sufficient data to complete an open pit minable reserve and to define the
underground resource. The Ford porphyry deposit is composed of non-refractory, disseminated
sulfide hosted mineralization with indicated gold recoveries of 90%.
Previous wide-spaced diamond drilling has defined potentially economic mineralization over a
minimum 450 metre strike length with the deepest hole intersecting the zone over 300 metres
below the surface. The zone remains open to the north and at depth. Previous resource estimates
indicate 7.5 million tonnes grading 2.0 g/t gold. The following table summarises the results of that
program.
HOLE # CORE GRADE HORIZONTAL DEPTH BELOW
LENGTH WIDTH SURFACE
(m) (g/t) (m) (m)
87/2 17.9 3.24 27.3 132
A1 71 1.75 35.1 118
A2 63 3.91 29.3 90
A7 19.6 1.71 24.4 107
A9 17.4 1.68 24.4 178
AH1 22.2 2.7 23.1 38
B12 19.7 3.19 31 204
B12 (LWR) 22 3.37 41 27
B7 30.2 3.94 36 96
B9 29.3 2.63 39 157
C1 59 1.17 11 222
C11 10.6 2.84 13 183
C11(LWR) 14.8 2.44 13.5 222
C2 47 3.32 38.6 48
C3 34 4.24 37.5 70
C7 27.5 3.78 32 87
D1 36 3.63 38 30
D11/ION 16.1 1.28 25 183
D12 17.9 1.44 24 201
D12(LWR) 3.3 1.39 4.5 228
D2 56 1.88 34 48
D7 28.2 2.31 37 85
D9 32.6 2.29 42 163
E1 1 1.64 42.5 18
E10/135 52.7 2.16 58.9 155
E2 4.6 3.12 43.7 38
F5 43 2.39 42.8 87
H11 1/2 34.3 1.04 35 157
H6 32 1.53 28.7 23
X4 35.4 1.77 36.3 66
Z2 82 1.44 33 52
Numerous other targets exist on the property and Trillion's program will explore these targets
concurrently. The potential at Indarama, which the exploration program will help determine is
believed to have substantial upside.
The purchase of 100% of Indarama property is to be completed in two stages. Trillion has
purchased a 20% indirect interest for US$3.0 million (through the purchase of 28.6% of
International Exploration and Mining Corporation ("IEMC") which owns 70% of Indarama). This
also gives Trillion a one year option (extendible to two years if required) to purchase the remainder
for a total purchase price of US$24.5 million. Trillion has the right to withdraw its option and
require the owners of IEMC to buy-back its current interest for US$3.0 million. Trillion holds
security for this buy-back. During the period of the option, Trillion will manage the exploration
program directly and will co-manage the mine with the current owners.
TEL: (403) 488-6798 Michael Halvorson, Director FAX: (403) 488-1184 TEL: (613) 591-8555
David Chaplin, Projects Co-ordinator FAX: (613) 591-6077
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