Trade Winds Announces Initial
Results
of 2011 Drilling on Block A
- 1.89 g/t Au over 28.0 m and 2.92 g/t Au
over 7.0 m in hanging wall
- 3.47 g/t Au over
15.4 m and 2.68 g/t Au over 8.3 m in M
Zone
- 2.44 g/t Au over 11.0 m and 2.34 g/t Au
over 10.4 m in footwall
- 47.8 g/t Au over 1.0 m in hanging wall,
47.9 g/t Au over 0.7 m in M Zone, and 42.7g/t Au over 0.4 m in
footwall
- 49 diamond drill holes � 20,328 metres completed to date
Vancouver,
BC, March 31, 2011 - Trade Winds Ventures Inc. (TSX-V: TWD, FSE: TVR)
is pleased to announce the results of the first seven drill holes of
the planned 70 holes, 30,000 metres 2011
winter drilling program on the Block A Joint Venture project (50% Trade
Winds / 50% Detour Gold), located adjacent to Detour Gold�s Detour Lake
gold project in northeastern Ontario. Trade Winds is
the operator of the Joint Venture exploration program.
Shown
below are the significant mineralized (uncut) sections intersected in
the first seven infill drill holes, all within the pit shell on Block
A.
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1.14 g/t Au over 21.0 m
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2.92 g/t Au over 7.0 m
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1.89 g/t Au over 28.0 m
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1.03 g/t Au over 9.6 m
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3.47 g/t Au over 15.4 m
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2.68 g/t Au over 8.3 m
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0.79 g/t over Au 8.0 m
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1.22 g/t Au over 6.0 m
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2.34 g/t Au over 10.4 m
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1.50 g/t Au over 6.5 m
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1.02 g/t Au over 5.0 m
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Additional
results are listed below.
To
date, a total of 49 drill holes totaling 20,328 metres
have been completed from the planned 30,000 metre
drill program, which commenced on January 5, 2011. The 2011 program
calls for up to 70 drill holes, subject to favourable
ground conditions. Similar to the 2010 program, the 2011 program seeks
to address more than one objective: infill drilling, particularly large
gap areas, and exploration drilling.
One of
the recommendations of the 2009 NI 43-101 report by Watts Griffis and McOuat (WGM)
was the infill drilling of numerous drilling gaps, also termed data
gaps, within the pit shell area. On Block A, drill spacing of closer
than 80 metres is required for the category
of inferred resources and closer than 40 metres
for indicated resources. The winter 2010 program targeted regions with
spacing greater than 80 metres within the pit
area. This will continue with this 2011 drilling program. A portion of
the deposit will be drilled on 40 metre by 40
metre centres to
increase the confidence level of the mineral resources. A total of 53
drill holes, approximately 76% of the winter 2011 drill program, is planned for this infill drilling.
As part of a continuing program to explore Block A, a total of 17 drill
holes, approximately 24% of the winter 2011 drill program, is planned
to test areas outside the delineation drilling within the pit shell.
This exploration drilling will focus in the areas north of the main pit
area between the main pit shell and the North Walter Lake (NWL) pit
shell, and south of the main pit shell to the southern boundary of
Block A to test the footwall and to determine if the Sunday Lake
Deformation Zone (SLDF) extends onto the southern portion of Block A.
Both areas, between NWL and the main pit shell and south of the main
pit shell, are nearly untested and both represent areas of potential
mineralization parallel to the M Zone.
Further drilling will be to the west of the main pit shell. In the
July, 2009 NI 43-101 technical report, Watts Griffis
and McOuat recommended drilling between sections
15380E and 15060E to test the western extension of the modeled pit. The
result was the intersection of gold mineralization in the M Zone in all
seven drill holes of this part of the 2010 program. A similar western
extension drilling program is planned for winter 2011, testing the M
Zone mineralization a further 320 metres to
the west between sections 15060E and 14740E. Previous deep drilling by
Trade Winds on sections 14700E and 14900E showed mineralized
intersections of the M zone at depth. The 2011 drilling will test the
shallower potential between these sections.
Current Results from Block A � Winter 2011 Drill Program:
Click
Here To View - Current Results from Block A � Winter 2011 Drill Program
Quality
Assurance and Quality Control (�QA/QC�) Program for Core Sampling
The Company has implemented a quality control program to ensure best
practices in sampling, analysis and security of core samples. The drill
core is first logged then sawn in half during the sampling process with
half being retained for verification and reference purposes. During
sample collection and assaying, there is an established QC procedure
which includes the insertion into the sample stream of standard
reference samples, sample duplicates and blank samples, including the
insertion of blank samples after all samples with visible gold.
The samples are delivered direct to Activation Laboratories Ltd. (ActLabs) preparation facility in Timmins, Ontario
by Trade Winds personnel. The samples are analyzed for gold using the ActLabs procedure 1A2-50, which is a 50 g fire
assay with AA finish. Samples returning greater than 3 g/t Au are
automatically processed using a fire assay-gravimetric finish. Total
metallic assays for gold were also performed on selected intervals. All
samples assayed by ActLabs include a standard
multi-element ICP package.
The coarse rejects are kept in Timmins for re-assaying purposes for a
period of up to six months and then returned to the Trade Winds site
for long term storage. Selected coarse rejects and pulps are check
assayed by third party laboratories other than ActLabs.
ABOUT
TRADE WINDS VENTURES INC.
Trade
Winds Ventures Inc. is a Canadian gold exploration and development company
focused, as operator, on advancing its Detour Lake properties towards
the feasibility stage. The Block A (50/50 Joint Venture with Detour
Gold) and adjacent 100% owned Gowest
properties are located in the Detour Lake Mining District, north of the
prolific gold mining camp of Timmins, Ontario, Canada. The current NI
43-101 technical report on the Block A properties by WGM delineated a
total indicated mineral resource of 90.5 million tonnes
grading 0.84 g/t gold containing 2,447,500 ounces and an inferred
resource of 73.7 million tonnes grading 0.83
g/t gold containing 1.967,300 ounces of gold (including the 50% portion
to Detour Gold on Block A).
The
latest in-pit mineral resource estimate of February 15, 2011, as
prepared by WGM, is shown in the table below.
US$1,000 Pit Shell - Mineral Resource
Estimate for Block A (100%) at a cut-off of 0.4 g/t Au
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Resource Category
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Tonnes
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Grade Capped
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Gold Ounces
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(millions)
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(g/t Au)
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(000�s)
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Indicated
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70.8
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0.85
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1,924
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Inferred
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27.3
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0.87
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762
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The
parameters and methodology utilized to estimate this mineral resource
are described in Trade Winds� February 15, 2011 NI 43-101 technical
report by WGM. The material in this news release has been prepared and
reviewed by Stephen Wallace, P. Geo, VP Exploration, a
Qualified Person as defined in NI 43-101.
FOR
FURTHER INFORMATION PLEASE CONTACT:
Ian D.
Lambert, CEO/President (416) 840-9843
Terry
McGee, Investor Relations Toll Free (866) 698-9187 ext 228 or (604)
648-6228
Email: info@tradewindsventures.com Visit
our Website at www.tradewindsventures.com
Forward Looking Information
Certain
information included in this news release constitutes
"forward-looking statements". The words "expect",
"will", "intend", "estimate" and similar
expressions identify forward-looking statements. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. Trade Winds cautions the reader that
such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Trade Winds to be materially different
from Trade Winds� estimated future results, performance or achievements
expressed or implied by those forward-looking statements and the
forward-looking statements are not guarantees of future performance.
These risks, uncertainties and other factors include, but are not
limited to, risks associated with the mining industry such as government
regulation, environmental and reclamation risks, title disputes or
claims, success of mining activities, future commodity prices, costs of
production, possible variation in mineral reserves, mineral resources,
grade or recovery rates, failure of plant, equipment or processes to
operate as anticipated, accidents, labour
disputes, the timing of estimated future production, capital
expenditures, financial market fluctuations, requirements for
additional capital, conclusions of economic evaluations, limitations on
insurance coverage, risks associated with using third-party contractors
and inflation. Trade Winds disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required by applicable law.
Information Concerning Estimates of Mineral Resources
This
news release uses the terms 'indicated' and 'inferred'
resources. Trade Winds 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.
Neither
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.
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