Trade Winds Drills 5.48 Grams/Tonne Gold Over 4.60 Metres on Previously Unexplored Area Near Surface at Block A, Detour Lake, Ontario
Wednesday August 22, 8:30 am ET
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TIMMINS, ON--(MARKET WIRE)--Aug 22, 2007 -- Trade Winds Ventures (CDNX:TWD.V - News) (Frankfurt:TVR.F - News) is pleased to announce additional 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 (Toronto:DGC.TO - News) (50%) and Trade Winds (50%), the operator during the exploration phase.
The Company has received encouraging results from three holes, TWDDH-219, TWDDH-222, & TWDDH-224 on Section 15060E. The purpose of drilling these three holes was to determine the continuity of the M Zone structural corridor by stepping out 320 metres west from the successful 2007 winter drill program. The M Zone ultramafic and numerous other gold bearing structures were intersected in all three holes, with gold mineralization ranging from approximately -135 metres to -235 metres below surface and 185 metres above previous drilling on this section last drilled in 2004.
In March 2006, Trade Winds discovered new, near surface gold mineralization along the M Zone corridor (see news release May 16, 2006). Phase 1 of this winter's drilling program was to explore the mineralization of this new zone along a 480 metre strike length between sections 15380E and 15860E. The three drill holes announced today on Section 15060E represent a 320 metre step out near the western extension of this phase of drilling above - 300 metres.
Diamond drill hole TWDDH-219 returned 5.78 grams/tonne over 1.00 metre; 5.48 grams/tonne gold over 4.60 metres including 19.20 grams/tonne over 0.50 metres; 4.13 grams/tonne over 1.65 metres; 2.40 grams/tonne gold over 3.00 metres; and 11.55 grams/tonne over 1.02 metres.
Diamond drill hole TWDDH-222 returned 2.73 grams/tonne over 2.00 metres; and 8.96 grams/tonne over 2.00 metres including 15.75 grams/tonne over 1.00 metre; 3.53 grams/tonne over 0.63 metres; and 14.75 grams/tonne over 0.50 metres.
Diamond drill hole TWDDH-224 returned 4.66 grams/tonne over 1.00 metre and 1.08 grams/tonne over 7.88 metres.
Previous drilling by Placer Dome and Trade Winds on this section also returned encouraging results as follows:
Placer Dome diamond drill hole 464-091 returned 18.76 grams/tonne over 2.00 metres, including 36.27 grams/tonne over 1.00 metre; 4.73 grams/tonne over 6.00 metres including 16.90 grams/tonne over 1.00 metre; and 8.18 grams/tonne over 2.00 metres, including 10.10 grams/tonne over 1.00 metres.
Placer Dome diamond drill hole 464-091A returned 11.31 grams/tonne over 2.00 metres, including 14.40 grams/tonne over 1.00 metres.
Trade Winds' 2004 diamond drill hole TWDDH-029 returned 9.46 grams/tonne over 1.00 metre; 8.02 grams/tonne over 2.11 metres, including 12.65 grams/tonne over 1.00 metre; 16.94 grams/tonne over 1.70 metres, including 29.7 grams/tonne over 0.92 metres; 5.67 grams/tonne over 7.00 metres, including 9.75 grams/tonne over 1.00 metre and 17.90 grams/tonne over 1.00 metre.
Details of significant fire assay results received for recent holes completed on Section 15060E are as follows:
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HOLE NAME FROM TO Depth LENGTH ASSAY COMPOSITE
(m.) (m.) Vertical(m.) (m.) (g/tonne gold) (g/tonne gold)
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TWDDH-219 114 115 93 1.00 5.78
240.97 242 197 1.03 3.96
291 292 238 1.00 3.35
297.9 302.5 243 4.60 5.48
Including 297.9 298.4 0.5 19.2
Including 299.5 300 0.5 5.62
Including 300.85 301.35 0.5 8.71
312 313.65 255 1.65 4.13
336 339 275 3.00 2.40
358.98 360 293 1.02 11.55 11.55
TWDDH-222 198 200 162 2.00 2.73
245 247 201 2.00 8.96
Including 246 247 1.00 15.75
258.35 258.98 211 0.63 3.53
268.75 269.25 220 0.50 14.75
TWDDH-224 162 163 132 1.00 1.46
166 173.88 136 7.88 1.08
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True Width is estimated to be between 65-75% of core length. A drawing for
Section 15060E is available on the Company's website
tradewindsventures.com
Diamond drill hole location and final depths for the M Zone diamond drill
program are as follows:
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Section Hole# Northing Easting Azimuth Dip Length
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15060 464-091 15049.09 20953.46 180 -81 1002
464-091A 15049.09 20953.46 180 -74.5 1033
TWDDH-029 15054.51 20925.32 175 -63 572
TWDDH-219 15061.90 20775.71 180 -55 381
TWDDH-222 15060.74 20736.50 180 -55 304
TWDDH-224 15059.78 20697.83 180 -55 261
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The objective of Phase 1 2007 winter drilling program was to explore the mineralization of this new zone discovered in 2006 along a 480 metre strike length between Sections 15380E and 15860E at 40 metres intervals, and one further step-out to 15060E, while Phase 2 focused on in-fill drilling of the near surface M Zone mineralization from Sections 15900E to 16740E. Drilled on a 40 meter by 40 meter spacing, both vertically and horizontally, these new holes are part of the drilling done to the west of the area encompassing the previously published NI 43-101 indicated resource. The 2007 drill program was designed to potentially add new gold ounces to the resource estimate, and upgrade the near surface inferred gold ounces, already included in the current resource estimate, to the indicated category.
In October 2006, Trade Winds reported an indicated resource of 14,158,000 tonnes grading 1.77 grams/tonne containing 804,321 ounces of gold and an inferred mineral resource of 24,796,000 tonnes grading 1.88 grams/tonne containing 1,499,552 ounces of gold, using a cut-off grade of 1.0 gram/tonne. The Technical Report prepared by Golder Associates Ltd. was filed on SEDAR on behalf of Trade Winds.
Management is looking to increase shareholder value by proceeding with the spin-off 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 raise up to a maximum of $7,500,000 to fund the development programs for these projects. It is expected that Trade Winds would own approximately 60% of WCH prior to the distribution to shareholders.
Trade Winds has indicated that it will look at similar spin-out strategies for other Canadian projects, which include a 60% option in the Birch Lake, Ontario gold project and its 100% interest 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 Trade Winds property and to enable Trade Winds to separately finance and develop its various assets, selectively reducing stock dilution.
Mr. Alex Burton, P. Eng., P. Geo., is the qualified person for Trade Winds' projects at Detour Lake and has reviewed the information contained herein. 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.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact:
FOR FURTHER INFORMATION PLEASE CONTACT:
Ian D. Lambert
CEO/President
(604) 742-2522
Terry McGee
Investor Relations
Toll Free (877) 811-4518 ext. 228 or (604) 742-2531
Email: Email Contact
Visit our Website at tradewindsventures.com
Suite 300, 1620 West 8th Ave.
Vancouver, BC V6J 1V4
117 Kent Avenue
Timmins, ON P4N 3B9
Source: Trade Winds Ventures Inc. |
