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Trade Winds Intersects High Grade Gold, 120.83 grams/tonne over 1.50 metres |
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TRADE WINDS INTERSECTS HIGH GRADE GOLD, 120.83 GRAMS/TONNE OVER 1.50 METRES, WITHIN THE M ZONE ON BLOCK A PROPERTY AT DETOUR LAKE, ONTARIO.
Timmins, Ontario, October 2, 2007 - Trade Winds Ventures (TSX-V: TWD, FSE: TVR) is pleased to announce more 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 (TSX: DGC) (50%) and Trade Winds (50%), the operator during the exploration phase. The purpose of drilling these three holes, TWDDH-220, TWDDH-221, & TWDDH-223 on Section 15900E, hole TWDDH-225 on Section 15980E and hole TWDDH-227 on Section 16020E, is to determine the continuity of the M Zone structural corridor by infill drilling previous excellent results at a 40 meter spacing. The M Zone ultramafic and numerous other gold bearing structures were intersected in all three holes, with gold mineralization ranging from approximately 20 metres to 200 metres below surface and approximately 40 metres above or below previous drilling on those sections.
In March of 2006, Trade Winds discovered new, near surface mineralization along the M Zone corridor (see news release May 16, 2006). Phase 1 of this winter’s drilling was to explore the mineralization of this new zone along a 480 metre strike between sections 15380E and 15860E. Today's results on these three sections represent the beginning of the Phase 2 infill drilling of the October 2006 Resource Estimate.
On Section 15900E, diamond drill hole TWDDH-220 returned 3.10 grams/tonne over 2.00 metres, 2.97 grams/tonne over 5.00 metres, and 2.07 grams/tonne gold over 7.00 metres.
Diamond drill hole TWDDH-221 returned 7.64 grams/tonne over 3.00 metres, 15.45 grams/tonne over 1.00 metre and 3.77 grams/tonne over 3.25 metres.
Diamond drill hole TWDDH-223 returned 13.40 grams/tonne over 0.92 metre, 25.8 grams/tonne over 0.50 metre, and 1.65 grams/tonne over 7.00 metres.
On Section 15980E, diamond drill hole TWDDH-225 returned 2.15 grams/tonne over 1.00 metre, 120.83 grams/tonne over 1.50 metres, and 14.35 grams/tonne over 1.00 metre.
On Section 16020E, diamond drill hole TWDDH-227 returned 3.54 grams/tonne over 3.00 metres and 2.59 grams/tonne over 8.00 metres.
Details of significant fire assay results received for recent holes completed on Sections 15900E, 15980E and 16020E are as follows:
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HOLE NAME
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FROM
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TO
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Depth
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LENGTH
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ASSAY
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COMPOSITE
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|
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(m.)
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(m.)
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Vertical (m.)
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(m.)
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(g/tonne gold)
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(g/tonne gold)
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15900E
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TWDDH-220
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108
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112
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88
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4.00
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1.16
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153
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155
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125
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2.00
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3.10
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Including
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153
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154
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1.00
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4.46
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15900E
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TWDDH-220
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159
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164
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130
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5.00
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2.97
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Continued
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170
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171
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139
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1.00
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9.50
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179
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186
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146
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7.00
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2.07
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Including
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179
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180
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1.00
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4.78
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and
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185
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186
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1.00
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6.52
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198
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199
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162
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1.00
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3.27
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236
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240
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193
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4.00
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2.17
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Including
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237.7
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238.2
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0.50
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6.13
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244
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247.25
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200
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3.25
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2.29
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Including
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244
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245
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1.00
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4.65
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TWDDH-221
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54
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57
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44
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3.00
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7.64
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Including
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54
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55
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1.00
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21.10
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70
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71
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57
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1.00
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15.45
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162
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163
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132
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1.00
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6.87
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192
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195.25
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157
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3.25
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3.77
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Including
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194.75
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195.25
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0.50
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15.60
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TWDDH-223
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41
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42
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33
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1.00
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2.25
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45
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46
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36
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1.00
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2.22
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78.08
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79
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64
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0.92
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13.40
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96.25
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09.75
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78
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0.50
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25.80
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152
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159
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124
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7.00
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1.65
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165
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165.71
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135
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0.71
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3.11
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186
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187
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152
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1.00
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3.25
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15980E
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TWDDH-225
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49
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50
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40
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1.00
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2.15
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140.5
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142
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115
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1.50
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120.83
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Including
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140.5
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141
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0.50
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124.50
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and
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141
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142
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1.00
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119.00
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192
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193
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157
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1.00
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14.35
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16020E
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TWDDH-227
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27
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30
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22
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3.00
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3.54
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Including
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29
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30
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1.00
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8.26
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36
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44
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29
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8.00
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2.59
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Including
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39
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39.75
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0.75
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8.36
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and
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40.57
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41.25
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0.68
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6.96
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True Width is estimated to be between 65-75% of core length. Drawings for Sections15900E, 15980E and 16020E are available on the Company’s website www.tradewindsventures.com
Diamond drill hole location and final depths for the M Zone diamond drill program on Sections15900E, 15980E and 16020E are as follows:
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Section
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Hole #
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Northing
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Easting
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Azimuth
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Dip
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Length (m)
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15900E
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TWDDH-220
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20644.9
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15901.76
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180
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-55
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297.00
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TWDDH-221
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20606.0
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15902.49
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180
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-55
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235.00
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TWDDH-223
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20565.3
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15902.71
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180
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-55
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259.00
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15980E
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TWDDH-225
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20536.4
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15979.85
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180
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-55
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195.00
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16020E
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TWDDH-227
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20459.5
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16021.59
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180
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-55
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106.00
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The M Zone structural corridor is a gold bearing structure that begins near surface at the eastern boundary of Block A, and plunges gently westward along strike for over four kilometres on to the immediately adjacent 100% owned Gowest property. Two significant mineralized zones occur along a komatiite structure, the Upper and Lower M Zone gold zones. The near surface and other portions of the M Zone structural corridor drilled to date are the subject of our recent NI 43-101 compliant resource estimate (October 2006). The 2007 M Zone winter drilling program was designed to test the westward near surface extension of the known gold mineralization with the purpose of adding new gold ounces to the resource estimate, and upgrading the current near surface inferred resource to the indicated category.
Golder Associates Ltd. (Golder) was commissioned by Trade Winds to provide an independent Mineral Resource Estimate in conformance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Mineral Resource and Mineral Reserve definitions referred to in the National Instrument NI 43-101, Standards of Disclosure for Mineral Projects. The resource estimation work was completed in October 2006 and is based on information contained within the Technical Report prepared by Golder on Trade Winds behalf and filed on SEDAR, which, using a cut-off of 1.0 grams/tonne, outlines an indicated resource of 14,158,000 tonnes grading 1.77 grams Au/t containing 804,321 ounces of gold and an inferred mineral resource of 24,796,000 tonnes grading 1.88 g Au/t containing 1,499,552 ounces of gold.
Mr. Alex Burton, P. Eng., P. Geo., is the qualified person for Trade Winds’ projects at Detour Lake. 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.
Management is looking to increase shareholder value by working towards the completion of the spin-out 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 fund the development programs for these projects. It is expected that TWD would own approximately 50% of WCH prior to the distribution to shareholders. The assignments have been made, the NI 43-101 reports are completed and signed, and the audit of WCH is underway. Following completion of the audit, the Offering Prospectus will be submitted for initial review by the BCSC, ASC and OSC.
TWD has indicated that it will look at similar spin-out strategies for its other Canadian projects, which include a 60% option in the Birch Lake, Ontario gold project and its 100% interests 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 TWD property and to enable TWD to separately finance and develop its various assets, selectively reducing stock dilution.
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: info@tradewindsventures.com
Visit our Website at www.tradewindsventures.com
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.
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