Threegold Resources Inc.: Drilling to Begin at Standard Gold
16 Novembre 2011 - 6:32PM
Marketwired
Threegold Resources Inc ("Threegold" or the "Company") (TSX
VENTURE:THG) is pleased to announce that exploration is about to
commence on its Standard Gold property under option to Bowmore
Explorations Ltd ("Bowmore") (TSX VENTURE:BOW)(FRANKFURT:0B5). The
terms of the agreement can be found in the press release dated Feb
14, 2011.
During Phase One of the exploration program, approximately 3,000
meters will be drilled in ten (10) diamond drill holes on the
Standard Gold property located in the Abitibi region of Quebec. The
objective of the initial phase of drilling will be to: 1) confirm
some of the historical gold intersections near the past-producing
Standard Gold mine; and 2) test the host granodiorite intrusion for
possible extensions to gold mineralization along sections spaced
700 metres apart. The intrusion, defined by previous drilling and
the aeromagnetic signature, is 4.8 km long and 150 to 250 metres
wide. It hosts the Standard Gold deposit and displays intense
regional-scale carbonate alteration similar to the context present
at the historical Larder Lake gold camp in Ontario.
Previous drilling around the Standard Gold mine (surface and
underground holes) suggests a potential for bulk tonnage gold
mineralization around the past-producing mine and along the
granodiorite intrusion. Although only partial assays are available
for most historical holes, others were fully analyzed and returned
significant intersections. Highlights are summarized below.
Table 1: Historical drill hole results on the Standard Gold property
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Hole No. From (m) To (m) Length(i) (m) Au g/t
232-3 37.0 265.4 228.4 0.50
including 79.1 79.8 0.7 10.30
including 129.3 129.9 0.6 12.10
including 255.1 255.7 0.6 10.90
234-1 4.0 119.0 115.0 0.46
including 116.8 107.3 0.5 12.0
234-2 0.0 123.2 123.2 0.48
including 120.8 121.4 0.6 14.4
234-4 10.0 117.0 107.0 0.89
including 18.7 19.2 0.5 20.30
including 74.4 76.0 1.6 10.80
235-4 0.0 10.0 10.0 21.47
including 5.0 6.0 1.0 121.70
236-6 16.7 46.8 30.1 1.81
including 18.0 18.6 0.6 28.50
237-1 37.6 94.4 56.8 0.59
237-3 9.7 104.3 94.6 1.16
including 25.1 25.6 0.5 55.80
including 103.8 104.3 0.5 41.60
238-4 43.0 54.5 11.5 26.40
including 52.2 54.0 1.8 161.50
SG-24 10.4 83.1 72.7 0.57
including 23.7 24.1 0.4 27.43
S-36 39.4 76.0 36.6 0.90
including 75.6 76.0 0.4 20.23
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(i)Drill length intercept
Neither Threegold nor Bowmore have verified the assaying quality
or validity of the historical gold intersections reported above.
However, both companies believe these results warrant disclosure
and are relevant to the planning of the upcoming drill program.
Threegold has obtained all necessary agreements and permits for
property access and for the drilling work to be done on the
targeted areas. Drilling will extend into the winter season (after
freeze-up) in order to access the swampy portions of the
property.
Mr Victor Goncalves, President and CEO of Threegold Resources,
comments: "The start of a new drill program is always exciting news
and with the historical results indicated here, we eagerly await
the results of this program."
Standard Gold Property
The Standard Gold property is located in Duverny Township some
19 km northeast of the town of Amos, Quebec. It includes the
Standard Gold mine, which operated from 1935 to 1953 and produced
an unreported quantity of gold. It has been the subject of several
historical exploration programs, including considerable diamond
drilling. Higher-grade gold mineralization occurs within a sheeted,
subvertical quartz vein system trending north-northeast, with a
documented minimum surface extent of 200 metres by 200 metres and a
minimum depth of 250 metres. The vein system is hosted within
intensely carbonate-altered granodiorite wall rock, and historical
drilling suggests this wall rock contains low-grade gold
mineralization. The vein system sits in a brittle granodiorite
intrusion displaying regional-scale carbonate (ankeritic)
alteration. This intrusion extends for about 4.8 kilometres within
a regional shear zone at least 9 kilometres long and known to
extend onto the adjacent Duverny (Bowmore) property to the
northwest.
About Threegold
Threegold has established itself as one of the premier
exploration companies in Quebec. The Company has a highly qualified
technical team with extensive exploration experience, including
previous gold discoveries in Quebec, and management with financing
and public company expertise.
Threegold aims to create shareholder wealth through the
discovery of new deposits with a focus on Canadian assets, mainly
in Quebec. Threegold offers investors a portfolio of high-quality
exploration projects and the potential to take part in a major
discovery.
With a strategic property portfolio and solid partnerships, like
the one with Osisko Mining Corporation, Threegold's goal is to
discover a low-cost, multi-million ounce gold deposit in
Quebec.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Mr. Victor Goncalves President and CEO Threegold
Resources Inc (403) 478-0055info@threegold.ca Mr. Antoine Fournier,
P. Geo. Vice President Exploration Threegold Resources Inc (819)
825-3883info@threegold.cawww.threegold.ca
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