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Trelawney Mining and Exploration Inc.
("Trelawney" or the "Company") (TSX VENTURE:TRR - News; FRANKFURT:RTW - News) announces additional
drill results from the Cote Lake Deposit on the Chester Project located
halfway between Timmins and Sudbury in northern Ontario. Highlights of the
drilling program include:
-- Hole E10-32 - 47.50 metres of 1.02 g/t gold
-- Hole E10-33(i) - 520.28 metres of 1.44 g/t gold (0.92 g/t cut) including
1.70 metres of 199.80 g/t gold
-- Hole E10-35 - 12.00 metres of 8.00 g/t gold and 187.55 metres of 0.61
g/t gold
A detailed table of results is included
below.
(i) E10-33 intersected three wide
intervals of porphyry-style mineralization separated by sections of weaker
and scattered mineralization (see table below and section 94+00E).
Drilling continues to uncover wide zones
of low to moderate grade gold +/- copper mineralization which are associated
with brecciated intermediate to felsic, and locally mafic intrusive rocks.
Mineralization occurs in the form of disseminated and fracture-controlled
sulfides which generally correlate to the gold values. Visible gold is
commonly observed. The zones are bleached with the prevalent alteration being
feldspathic, chloritic and biotitic. Trelawney believes that the nature of
the alteration and mineralization is indicative of a porphyry style of
mineralization. The mineralization and alteration envelope associated with
this system remains open in both directions along strike and to depth.
Greg Gibson, Trelawney's President and
CEO commented, "We are pleased with the strength and size of the
mineralized intervals that we continue to encounter within the Cote Lake
Deposit. Intersections such as these reported today support our confidence in
the exploration potential of 3.5 to 6 million ounces of gold for the Cote
Lake Deposit as reported in our October 18, 2010 press release."
The exploration potential discussed in
this press release is not a resource category. Investors are cautioned that
the potential quantity and grade described as 'exploration potential' is
conceptual in nature. There has been insufficient exploration to define a
mineral resource and it is uncertain if further exploration will result in
the target being delineated as a mineral resource.
The expansion and exploration drill
program continues with two rigs defining the extent of the Cote Lake deposit
and a third rig exploring other targets on the 1,700 hectare (4,200 acre)
Chester Property. A significant expansion of the drill program is
contemplated for the winter of 2011 with the addition of two drills. This
will enable Trelawney to explore the wetlands to the west and above
previously reported drilling.
A drill plan and sections of the drill
holes for which assays are reported will be available on Trelawney's website
(www.trelawneymining.com) within the week.
Cote Lake Deposit Drilling Results:
---------------------------------------------------------------------------
Au cut Gold
Section Hole From To Length Gold (g/t) Grade (oz/t)
------------------------------------------------------
cut to
(m) (m) (m) uncut 50g/t(i) uncut
---------------------------------------------------------------------------
96+00E E10-32 22.00 26.88 4.88 1.83 0.05
------------------------------------------------------
110.00 157.50 47.50 1.02 0.03
------------------------------------------------------
185.00 256.00 71.00 0.29 0.01
------------------------------------------------------
incl 195.00 196.89 1.89 1.09 0.03
------------------------------------------------------
incl 232.00 233.00 1.00 4.33 0.13
------------------------------------------------------
incl 255.00 256.00 1.00 1.24 0.04
---------------------------------------------------------------------------
94+00E E10-33 81.00 601.28 520.28 1.44 0.92 0.04
------------------------------------------------------
incl 81.00 121.00 40.00 1.28 0.04
------------------------------------------------------
incl 103.14 105.06 1.92 8.81 0.26
------------------------------------------------------
and incl 186.95 380.45 193.50 2.82 1.42 0.08
------------------------------------------------------
incl 209.38 211.10 1.72 199.80 43.28 5.83
------------------------------------------------------
incl 271.00 272.00 1.00 52.14 50.00 1.52
------------------------------------------------------
incl 308.22 309.17 0.95 49.00 1.43
------------------------------------------------------
and incl 421.20 556.81 135.61 0.81 0.02
---------------------------------------------------------------------------
94+00E E10-34 3.60 4.36 0.76 1.96 0.06
------------------------------------------------------
24.00 24.81 0.81 6.16 0.18
------------------------------------------------------
32.82 33.45 0.63 1.06 0.03
------------------------------------------------------
46.09 46.83 0.74 1.56 0.05
------------------------------------------------------
48.86 49.62 0.76 1.96 0.06
------------------------------------------------------
96.82 97.54 0.72 6.59 0.19
------------------------------------------------------
218.80 219.76 0.96 1.81 0.05
------------------------------------------------------
243.79 244.43 0.64 3.64 0.11
------------------------------------------------------
262.59 263.36 0.77 3.65 0.11
------------------------------------------------------
331.16 331.79 0.63 7.61 0.22
------------------------------------------------------
356.23 358.86 2.63 1.41 0.04
------------------------------------------------------
399.00 399.60 0.60 1.98 0.06
------------------------------------------------------
409.81 416.73 6.92 2.06 0.06
------------------------------------------------------
423.00 423.90 0.90 2.30 0.07
---------------------------------------------------------------------------
95+00E E10-35 24.25 25.25 1.00 2.65 0.08
------------------------------------------------------
47.80 48.30 0.50 14.30 0.42
------------------------------------------------------
65.30 66.30 1.00 1.29 0.04
------------------------------------------------------
75.30 76.30 1.00 1.51 0.04
------------------------------------------------------
105.60 111.60 6.00 1.22 0.04
------------------------------------------------------
127.60 128.60 1.00 1.41 0.04
------------------------------------------------------
158.00 170.00 12.00 8.00 5.08 0.23
------------------------------------------------------
incl 166.00 167.00 1.00 85.02 50.00 2.48
------------------------------------------------------
241.00 243.00 2.00 2.74 0.08
------------------------------------------------------
263.00 265.00 2.00 2.21 0.06
------------------------------------------------------
329.70 517.25 187.55 0.61 0.02
------------------------------------------------------
incl 416.30 442.00 25.70 1.42 0.04
------------------------------------------------------
535.75 536.60 0.85 2.56 0.07
------------------------------------------------------
580.80 581.80 1.00 1.50 0.04
------------------------------------------------------
598.80 600.80 2.00 1.56 0.05
------------------------------------------------------
605.80 606.80 1.00 1.21 0.04
---------------------------------------------------------------------------
94+00E E10-07 ext 238.00 239.00 1.00 3.00 0.09
------------------------------------------------------
284.00 310.00 26.00 1.10 0.03
------------------------------------------------------
incl 284.00 286.00 2.00 8.38 0.24
------------------------------------------------------
329.60 330.50 0.90 5.62 0.16
------------------------------------------------------
354.00 354.50 0.50 16.47 0.48
------------------------------------------------------
477.00 477.50 0.50 1.60 0.05
------------------------------------------------------
501.00 501.50 0.50 2.31 0.07
------------------------------------------------------
527.00 528.00 1.00 1.22 0.04
------------------------------------------------------
545.00 546.00 1.00 2.58 0.08
---------------------------------------------------------------------------
Notes
- True widths of intersections are unknown at this time
- Only intervals with assays cut to 50 g/t gold are shown
- Intervals are graded with a lower cut of 0.40 g/t with internal waste and
low grade material within graded zones of up to 20 metres in length
---------------------------------------------------------------------------
Trelawney has implemented a
Quality-Control, Quality Assurance program to ensure best practice principals
are being applied in the sampling and analysis of the drill core. Samples are
crushed to -8 mesh then a 1,000 gram subset of each sample is pulverized to
90% passing -150 mesh. Assays have been completed using a standard fire assay
with a 30 gram aliquot and an AA finish. For samples that return values of
between two to five grams per tonne gold, another pulp is taken and fire
assayed with a gravimetric finish. Samples returning values greater than five
grams per tonne are re-analyzed by pulp metallic analysis. NQ size drill core
is saw cut, and half the drill core is sampled in standard intervals. The
remaining half of the core is stored in a secure location. The drill core is
transported in security-sealed bags to the Accurassay prep lab in Sudbury,
Ontario by Trelawney personnel. Accurassay is an ISO/IEC 17025 certified
Laboratory by the Standards Council of Canada. In addition to quality
assurance controls at the laboratory, blanks and certified standards have
been inserted into the sample stream at random intervals.
David Beilhartz, Vice President,
Exploration for Trelawney Mining and Exploration, a Qualified Person under NI
43-101, has prepared or supervised the scientific or technical information
for the property and verified the data disclosed in this press release.
Trelawney is a Canadian junior mining
and exploration company with a strategic focus on "Quality Ounce"
gold deposits. The Company's current focus is directed towards the
development and continued exploration of its newly acquired Chester Project,
located in Chester Township 20 kilometres southwest of Gogama, Ontario.
This news release may contain
forward-looking statements including but not limited to comments regarding
the timing and content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
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.
Contact:
Greg Gibson
Trelawney Mining and Exploration Inc.
President and CEO
416-361-2826
ggibson@trelawneymining.com
www.trelawneymining.com |