Trelawney Intersects 165.00 Metres of 1.20 g/t Gold at Cote Lake
February 24 2012 - 5:38PM
Marketwired Canada
Trelawney Mining and Exploration Inc. (the "Company" or "Trelawney") (TSX
VENTURE:TRR)(FRANKFURT:RTW) announces the results from 26 additional holes
drilled on the Cote Lake Deposit on the Chester Project located halfway between
Timmins and Sudbury in Northern Ontario. The results are from the ongoing
expansion and infill drilling on the Cote Lake Deposit. Drilling continues to
intersect wide zones of low to moderate grade gold mineralization.
The holes along the infill sections have been drilled at various angles to
provide better variography in the upcoming resource estimate. Several of the
infill holes have encountered diabase dykes on the 50-metre infill sections
resulting in some breaks in the continuity of the mineralization along the
holes. These dykes, estimated to be approximately 20 metres wide, run
sub-parallel to the sections and were not unexpected as they can be seen on the
magnetic maps. Minor additional infill drilling may be required in the vicinity
of these dykes to convert the resource in this area to the indicated category.
The inferred resource of the Cote Lake Deposit currently stands at 131 million
tonnes grading 1.0 g/t for a total of 4.2 million ounces gold as reported in
Trelawney's press release dated March 7, 2011. To date, mineralization of the
Cote Lake Deposit has been intersected over a strike-length of 1,200 metres and
outcrops at two known locations 500 metres apart. The zone remains open along
strike and at depth on all sections that have been drilled. In section, the zone
attains widths of up to 300 metres. The mineralization, delineated by drilling
to date, coincides well with a NE-SW-trending IP anomaly. The Cote Lake Deposit
consists of low to moderate grade gold +/- copper mineralization which is
associated with brecciated intermediate to felsic, and locally mafic intrusive
rocks. The nature of the alteration and mineralization is indicative of a
porphyry deposit.
Preliminary results of age dates for several samples submitted from the Cote
Lake mineralized zone have now been received. Two samples of unaltered and
altered (biotite) tonalite which host the mineralized zone were analyzed using
the U-Pb zircon method at the Jack Satterly Geochronology Laboratory at the
University of Toronto and returned ages of 2,738 and 2,741 +/- 1 Million years
(Ma). Analysis of two molybdenite samples, one from a fracture coating in
tonalite and the other from a Au-rich quartz-chalcopyrite-molybenite vein in the
Cote Deposit, completed at the Radiogenic Isotopic Facility at the University of
Alberta returned ages of 2,737 and 2,741 +/- 7 Ma. The similarity in the age
dates complemented with geological studies, indicates the gold mineralization is
of hypogene origin and provides additional strong evidence that the deposit is a
true porphyry-type gold deposit. Furthermore, this deposit now represents the
oldest documented gold mineralization within the Abitibi subprovince.
Drilling continues on the Company's vast land holdings in the Swayze area with a
total of 10 diamond drill rigs. The drill program on the Cote Lake Deposit will
continue with eight drills, with one focusing on expansion drilling and the
remaining seven on infill drilling. The current warm winter weather has hampered
mobility on the wetlands limiting drilling locations. Consequently, an
additional lighter helicopter drill rig will be mobilized to cover less frozen
areas. The final two drill rigs are conducting regional exploration and
condemnation drilling.
Greg Gibson, Trelawney's President and CEO commented, "A significant portion of
the results released today will be included in our upcoming resource estimate
update. As we complete our second resource estimate from two years of diamond
drilling, the mineralized envelope of the Cote Lake Deposit has still not been
fully delineated. This truly demonstrates the significant potential of this new
and unique discovery."
Cote Lake Deposit Drilling Results
----------------------------------------------------------------------------
From To Length Gold Au cut Gold
Section Hole (m) (m) (m) (g/t) Grade (oz/t) Comments
-------------------------
cut to
uncut 25g/t(i) uncut
----------------------------------------------------------------------------
92+50E E11-113 149.50 206.10 56.60 0.48 0.01 outside
resource
----------------------------------------------------------------------------
----------------------------------------------------------------------------
88+00E E11-114 158.00 221.00 63.00 0.95 0.03 outside
resource
----------------------------------------------------------------------------
266.00 267.00 1.00 32.03 25.00 0.93
----------------------------------------------------------------------------
----------------------------------------------------------------------------
85+00E E11-115 179.00 193.00 14.00 0.51 0.01 outside
resource
----------------------------------------------------------------------------
442.00 443.00 1.00 5.34 0.16
----------------------------------------------------------------------------
----------------------------------------------------------------------------
89+00E E11-116 63.00 83.00 20.00 0.46 0.01 outside
resource
----------------------------------------------------------------------------
394.00 559.00 165.00 1.20 0.04
----------------------------------------------------------------------------
604.00 605.00 1.00 23.96 0.70
----------------------------------------------------------------------------
625.00 668.00 43.00 1.02 0.03
----------------------------------------------------------------------------
----------------------------------------------------------------------------
93+50E E11-117 154.00 269.00 115.00 diabase
----------------------------------------------------------------------------
281.00 284.00 3.00 15.00 13.14 0.44 infill
----------------------------------------------------------------------------
498.00 500.00 2.00 23.82 13.94 0.69
----------------------------------------------------------------------------
535.00 549.00 14.00 1.84 0.05
----------------------------------------------------------------------------
----------------------------------------------------------------------------
93+50E E11-118 134.00 175.00 41.00 0.90 0.03 infill
----------------------------------------------------------------------------
220.00 295.00 75.00 diabase
----------------------------------------------------------------------------
448.00 449.00 1.00 36.26 25.00 1.06
----------------------------------------------------------------------------
456.00 476.00 20.00 0.84 0.02
----------------------------------------------------------------------------
----------------------------------------------------------------------------
85+00E E11-119 97.00 97.90 0.90 2.27 0.07 outside
resource
----------------------------------------------------------------------------
318.00 319.00 1.00 3.78 0.11
----------------------------------------------------------------------------
----------------------------------------------------------------------------
92+50E E11-120 253.00 254.00 1.00 1.11 0.03 outside
resource
----------------------------------------------------------------------------
----------------------------------------------------------------------------
88+00E E11-121 94.00 113.00 19.00 0.46 0.01 outside
resource
----------------------------------------------------------------------------
----------------------------------------------------------------------------
93+50E E11-122 65.00 78.00 13.00 0.51 0.01 infill
----------------------------------------------------------------------------
100.00 102.00 2.00 2.88 0.08
----------------------------------------------------------------------------
133.00 136.00 3.00 1.71 0.05
----------------------------------------------------------------------------
93+50E E11-122 214.70 337.70 123.00 diabase
----------------------------------------------------------------------------
...(cont)...(cont) 354.00 355.00 1.00 4.88 0.14
----------------------------------------------------------------------------
506.00 507.00 1.00 4.79 0.14
----------------------------------------------------------------------------
----------------------------------------------------------------------------
85+00E E11-123 50.00 65.00 15.00 0.87 0.03 outside
resource
----------------------------------------------------------------------------
----------------------------------------------------------------------------
85+00E E11-124 4.40 26.00 21.60 1.12 0.03 outside
resource
----------------------------------------------------------------------------
55.00 66.00 11.00 0.83 0.02
----------------------------------------------------------------------------
----------------------------------------------------------------------------
93+50E E11-125 26.00 41.00 15.00 0.61 0.02 outside
resource
----------------------------------------------------------------------------
536.00 537.00 1.00 23.10 0.67
----------------------------------------------------------------------------
----------------------------------------------------------------------------
86+00E E11-126 3.80 9.50 5.70 0.86 outside
resource
----------------------------------------------------------------------------
46.20 49.20 3.00 1.36
----------------------------------------------------------------------------
----------------------------------------------------------------------------
93+50E E11-127 7.00 50.00 43.00 0.54 0.02 outside
resource
----------------------------------------------------------------------------
120.00 128.00 8.00 1.88 0.05
----------------------------------------------------------------------------
156.00 177.00 21.00 0.60 0.02
----------------------------------------------------------------------------
197.00 198.00 1.00 8.01 0.23
----------------------------------------------------------------------------
----------------------------------------------------------------------------
87+00E E11-128 167.00 168.00 1.00 5.75 0.17 outside
resource
----------------------------------------------------------------------------
216.00 217.00 1.00 1.28 0.04
----------------------------------------------------------------------------
----------------------------------------------------------------------------
88+00E E11-129 76.00 92.00 16.00 0.95 0.03 outside
resource
----------------------------------------------------------------------------
297.00 298.00 1.00 10.84 0.32
----------------------------------------------------------------------------
----------------------------------------------------------------------------
93+50E E11-130 9.70 42.60 32.90 1.32 0.04 infill
----------------------------------------------------------------------------
155.80 177.60 21.80 0.84 0.02
----------------------------------------------------------------------------
186.60 188.60 2.00 7.43 0.22
----------------------------------------------------------------------------
268.80 272.80 4.00 5.89 0.17
----------------------------------------------------------------------------
381.80 382.80 1.00 5.41 0.16
----------------------------------------------------------------------------
----------------------------------------------------------------------------
94+50E E11-131 97.00 183.00 86.00 1.24 1.21 0.04 infill
----------------------------------------------------------------------------
235.00 245.00 10.00 0.99 0.03
----------------------------------------------------------------------------
290.00 296.00 6.00 1.56 0.05
----------------------------------------------------------------------------
519.00 527.00 8.00 0.83 0.02
----------------------------------------------------------------------------
619.00 658.00 39.00 0.87 0.03
----------------------------------------------------------------------------
----------------------------------------------------------------------------
84+00E E11-132 155.00 156.00 1.00 1.19 0.03 outside
resource
----------------------------------------------------------------------------
----------------------------------------------------------------------------
85+00E E11-133 abandoned
----------------------------------------------------------------------------
----------------------------------------------------------------------------
85+00E E11-134 56.00 66.00 10.00 0.72 0.02 abandoned
outside
----------------------------------------------------------------------------
----------------------------------------------------------------------------
84+00E E11-135 pending
----------------------------------------------------------------------------
----------------------------------------------------------------------------
92+50E E11-136 2.60 15.00 12.40 0.75 0.02 infill
----------------------------------------------------------------------------
19.00 100.50 81.50 diabase
----------------------------------------------------------------------------
104.00 116.00 12.00 0.71 0.02
----------------------------------------------------------------------------
150.00 159.00 9.00 1.85 0.05
----------------------------------------------------------------------------
178.00 185.00 7.00 0.72 0.02
----------------------------------------------------------------------------
188.50 223.90 35.40 diabase
----------------------------------------------------------------------------
226.00 240.00 14.00 1.22 0.04
----------------------------------------------------------------------------
270.00 283.00 13.00 0.92 0.03
----------------------------------------------------------------------------
401.85 433.00 31.15 1.55 0.05
----------------------------------------------------------------------------
440.00 441.00 1.00 5.13 0.15
----------------------------------------------------------------------------
448.00 452.00 4.00 1.16 0.03
----------------------------------------------------------------------------
488.00 496.00 8.00 1.14 0.03
----------------------------------------------------------------------------
550.00 653.00 103.00 0.94 0.03
----------------------------------------------------------------------------
707.30 747.00 39.70 1.51 0.04
----------------------------------------------------------------------------
----------------------------------------------------------------------------
93+50E E11-137 112.00 188.00 76.00 diabase infill
----------------------------------------------------------------------------
189.00 204.00 15.00 0.81 0.02
----------------------------------------------------------------------------
260.00 272.00 12.00 1.04 0.03
----------------------------------------------------------------------------
284.00 288.00 4.00 14.37 9.57 0.42
----------------------------------------------------------------------------
316.00 322.00 6.00 0.70 0.02
----------------------------------------------------------------------------
347.00 355.00 8.00 0.65 0.02
----------------------------------------------------------------------------
401.00 540.00 139.00 0.97 0.90 0.03
----------------------------------------------------------------------------
incl 401.00 424.00 23.00 1.40 0.04
----------------------------------------------------------------------------
and incl 474.00 511.00 37.00 1.96 1.70 0.06
----------------------------------------------------------------------------
554.00 555.00 1.00 5.60 0.16
----------------------------------------------------------------------------
647.00 681.00 34.00 0.86 0.03
----------------------------------------------------------------------------
----------------------------------------------------------------------------
94+50E E11-138 22.00 34.00 12.00 2.57 0.07 infill
----------------------------------------------------------------------------
55.00 91.00 36.00 0.77 0.02
----------------------------------------------------------------------------
97.00 101.00 4.00 4.35 0.13
----------------------------------------------------------------------------
94+50E E11-138 125.00 129.00 4.00 21.25 13.17 0.62
----------------------------------------------------------------------------
...(cont)...(cont) 324.00 329.00 5.00 1.47 0.04
----------------------------------------------------------------------------
336.00 355.50 19.50 1.93 0.06
----------------------------------------------------------------------------
452.00 514.00 62.00 1.24 0.04
----------------------------------------------------------------------------
535.00 540.00 5.00 1.10 0.03
----------------------------------------------------------------------------
Notes:
-- True widths of intersections are unknown at this time.
-- (i)Only intervals with assays cut to 25 g/t gold are shown.
-- Intervals are graded with a lower cut of 0.30 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 5 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 of Trelawney, a Qualified Person
under NI 43-101, has prepared or supervised the scientific and/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 focus on
Archean gold deposits. The Company's current focus is directed towards the
continued exploration and development of the Cote Lake Deposit, 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.
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