Trelawney Gears Up for Drilling Program High Grade Gold Results Now Traced on Surface for Over 100 Metres
Trelawney Resources Inc. reports that a mechanical stripping program has recently been completed on the Dorset Property. Approximately 2,000 m2 of stripping was conducted in the area southeast of the Dorset Zone. This work was done as follow up to stripping conducted late last year, which was suspended due to early snowfall and freezing conditions. The total area now stripped covers approximately 3,700 m2.
The stripping program was conducted to expose surface mineralization of the Dorset “B” zone. The “B” zone exhibits similar style of deformation, alteration and mineralization to that of the Dorset “Main” Zone, but is located approximately 150 metres to the southeast of the Main Zone. A National Instrument 43-101 compliant resource estimate on the Dorset “B” Zone alone consists of an Inferred Resource of 40,000 ounces of gold (620,000 tonnes grading 1.85 g/t Au, using a 1.00 g Au/t cut off). Assay results of 13 grab samples collected from this area prior to recent stripping returned assay values up to 11.66 g/t Au.
The “B” zone was drilled tested by several holes, including MC-07-92, MC-07-93, and MC-07-116 which returned values (core lengths) of 2.43 g/t Au over 13.7m, 2.83 g/t Au over 7.5m and 3.00 g/t Au over 6.0 metres respectively. Based on drilling the initial interpretation was that the “B” zone, similar to the main Dorset Zone, strikes in an approximate east – west direction and dips approximately 50 degrees to the north. However, based on surface exposures revealed by recent stripping, the “B” zone structure is more complex than originally interpreted. The “B” zone mineralization has been traced on surface through a series of complex folds for a strike length of approximately 100m. While detailed strike directions are highly variable within this 100m strike length the general attitude on mineralized zone appears to follow a south southeast direction. Several folds were observed, with fold noses plunging steep in an easterly direction.
Over 125 grab samples were collected along the surface exposure of the zone which varies in width from 4 to 14 metres. Assay results are pending. In the next few weeks the Company will conduct an initial phase 15 hole drilling program to determine the extent of the mineralization.
President Wayne O’Connor stated, “The recent stripping program was hugely successful as we have now traced the “B” zone mineralization on surface for over 100 meters in a strike direction which was not previously known and not fully drill tested. The current Inferred Resource estimate for just the B zone alone stands at 40,000 ounces of gold (with a grade of 1.85 g/t Au) and we feel that we can add significantly to this amount. And we certainly cannot overlook the idea that this represents a potential open pit resource as previous drilling on this zone has been shallow, and mineralization has now been traced to surface. We are one of the fortunate junior exploration companies to have an actual gold resource on our property. We are also fortunate to be in a position to add significantly to this resource especially when gold prices are expected to rise significantly due to the melt down in the US financial system.”
On the Dorset property, Trelawney has earned a 50% interest in the project, and a joint venture has now been formed with MetalCORP Limited. Trelawney is the manager of the Joint Venture and has presented an exploration program for 2008 which include mechanical stripping and approximately 2,500 meters of additional drilling, with an estimated budget of approximately $476,000. MetalCORP has decided not to participate in this phase of the program, and their interest in the project will be diluted below 50% pursuant to the standard dilution clauses contained within the agreement.
Trelawney recently commissioned a National Instrument 43-101 compliant resource estimate on the Dorset Zone and the results were reported in a press release dated October 31, 2007. The initial estimate (using a 0.50 g Au/t cut off) consists of an Indicated Resource of 40,000 ounces of gold (780,000 tonnes grading 1.42 g/t Au) and an Inferred Resource of 180,000 ounces of gold (4,760,000 tonnes grading 1.19 g/t Au). The complete report can be accessed on www.sedar.com.
Trelawney also owns a 100% interest in the 13,000 acre Mishi property which is contiguous to Wesdome’s producing Eagle River Gold Mine, the Dorset property and the Mishibishu Lake property. The area is traversed by an all weather road and power line. A prospecting and sampling program has recently been completed and assay results are pending.
