Trade Winds Files Updated NI 43-101 Technical
Report for Block A on SEDAR
Vancouver,
BC, February 16, 2011 - Trade Winds Ventures Inc. (TSX-V: TWD, FSE:
TVR) (�Trade Winds� or the �Company�) is pleased to announce that
further to the Company's news release dated December, 30 2010, the
independent National Instrument 43-101 compliant technical report for
the Block A property, a 50/50 joint venture with Detour Gold
Corporation (�Detour Gold�), located adjacent to Detour Gold�s Detour
Lake gold project in northeastern Ontario, has been filed on SEDAR.
This updated estimate contained within an open pit shell was completed
by Watts, Griffis and McOuat
Limited (�WGM�), Consulting Geologists and Engineers, of Toronto,
Canada and complies with National Instrument 43-101 (�NI 43-101�)
Standards of Disclosure for Mineral Projects. Trade Winds is the operator of the Joint Venture exploration
program. The full text of the technical report is also available on the
Company�s website at www.tradewindsventures.com.
The
focus of the report is the In-pit Mineral Resource Estimate for Block A
presented in the Trade Winds December, 30 2010 press release and
summarized below. This mineral resource estimate is an update of the
July 2009 Technical Report by WGM and contains data from an additional
30 diamond drill holes totaling 11,591 metres
completed in 2010. The 2010 drilling program targeted near-surface gold
mineralization of the M Zone regions with spacing greater than 80 metres within the pit area, as well as testing the
western extension of the modeled pit. A Lerch-Grossman
optimized pit shell was used to generate an updated in-pit mineral
resource.
In-pit Mineral Resource Estimate for
Block A (100% of JV) at a cut-off grade of 0.4 g/t Au
|
Resource Category
|
Tonnes
|
Grade Capped
|
Gold Ounces
|
|
(millions)
|
(g/t Au)
|
(000�s)
|
Indicated
|
70.8
|
0.85
|
1,924
|
Inferred
|
27.3
|
0.87
|
762
|
Notes:
(1)
The mineral resources are classified as indicated and inferred, and
comply with the CIM mineral resource definitions referenced in National
Instrument 43-101.
(2)
Base case assumes a gold price of US$1,000/oz gold and US$ exchange
rate of $1.08.
(3)
Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
(4)
The quantity and grade of reported inferred resources in this
estimation are conceptual in nature and there has been insufficient
exploration to define these inferred resources as an indicated or
measured resource and it is uncertain if further exploration will
result in upgrading them to an indicated or measured resource category.
(5)
The tonnages and grades quoted are undiluted. Gold grades were capped
at values ranging from 10 g/t to 100 g/t based on statistical analysis.
(6)
Parameters and methodology are presented in the Trade Winds December,
30 2010 press release and the NI 43-101 technical report posted on www.SEDAR.com
and the Company�s website.
Ian
Lambert, CEO of Trade Winds, stated about the technical report: �This mineral resource estimate and corresponding
technical report has been prepared independently by Watts, Griffis and McOuat
Limited for Trade Winds, acting as Operator for the 50/50 Joint Venture
between Detour Gold and Trade Winds on Block A at Detour Lake. These
estimated results, using industry standard parameters and best possible
estimates of costs, have been determined and thoroughly reviewed by WGM
in stating the resource within this report.�
�Based
on these results, Trade Winds has embarked
upon a 30,000 metre program of both infill
drilling and exploration drilling to the west and outside the pit.
Assay results will be published as available throughout the program.
Further updates to the block model and resource estimate will be made
upon completion of the 2011 drilling.�
Quality Assurance and Quality Control (�QA/QC�) Program
The
Company has implemented a quality control program to ensure best
practices in sampling and analysis of the core samples. The core is
first logged then sawn in half during the sampling process with the
half being retained for verification and reference purposes. During
sample collection and assaying, there is an established QC procedure
for using standards, duplicates and blanks. It is Trade Winds� policy
that blanks are inserted after high grade gold mineralized samples,
especially those with visible gold. The samples were delivered direct
to ALS-Chemex Laboratories preparation
facility in Timmins, Ontario Canada. Sample pulps were shipped from
there to ALS-Chemex Laboratories in
Mississauga Ontario, Canada for analysis. Trade Winds used Chemex AU-AA24, which is a 50 g fire assay with AA
finish. Samples returning greater than 10 g/t Au were automatically
processed using a fire assay-gravimetric finish. Total metallic assays
for gold were also performed on selected intervals. All sample batches
assayed by Chemex included a standard
multi-element ICP package. The coarse rejects and pulps are kept in
Timmins for re-assaying purposes and then returned to the Trade Winds
site where they are stored at the exploration site.
NI 43-101 Compliant Report
The
mineral resource estimate block model was completed by Pierre Desautels, P.Geo, a Senior WGM Associate Geologist. The Lerch-Grossman pit shells and final mineral
resource estimates were completed by Gordon Zurowski
P.Eng, a Senior WGM Associate Mining
Engineer. Metallurgical testwork was
completed at SGS Canada (Lakefield) under the independent supervision
of Andy Holloway, P.Eng, a Senior WGM
Associate Process Engineer The material in this news release has been
reviewed and approved by Mr. Desautels and
Mr. Zurowski of WGM, both Qualified Persons
as defined by NI 43-101 and by Stephen Wallace, P.Geo,
Senior VP Exploration of Trade Winds, also a Qualified Person as
defined by NI 43-101.
FOR
FURTHER INFORMATION PLEASE CONTACT:
Ian
D. Lambert, CEO/President (604) 648-6225
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. The Company 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 the Company to be materially different
from the Company's 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. The Company 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. The
Company advises investors that although these terms are recognized and
required by Canadian regulations (under NI 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 NI 43-101.
Investors are cautioned not to assume that part or all of an inferred
resource exists, or is economically or legally mineable.
THE
TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS
PRESS RELEASE.
TRADE WINDS VENTURES INC.
|