Northrock Summer Drilling Program Results in Multiple Gold Intersections on Trade Winds' Turner Lake Option, Nunavut
VANCOUVER--(BUSINESS WIRE)--Trade Winds Ventures Inc. (TSX-V: TWD; FSE: TVR) is pleased to report that Northrock Resources Inc. ("Northrock") has received the assay results of the 2008 summer drill program on the Turner Lake Option located approximately 20 kilometres northwest of Bathurst Inlet Nunavut, Canada. Gold mineralization has been intersected in 13 of the 14 diamond drill holes completed on the Turner Lake Gold targets including 16.20 grams/tonne ("g/t") gold over 8.50 metres ("m") which included 31.85 g/t gold over 2.00m in drill hole TL-08-012.
The highlights of the 16 diamond drill holes (two holes were not completed due to technical reasons) testing the Main Gold Showing are shown below.
| TL-08-012 |
16.2 g/t |
or | 0.47 oz/t | over | 8.5 m | |||||
| including |
31.85 g/t |
or | 0.93 oz/t | over | 2.0 m | |||||
| including | 25.2 g/t | or | 0.74 oz/t | over | 2.0 m | |||||
| TL-08-020 | 4.39 g/t | or | 0.13 oz/t | over | 10.0 m | |||||
| including | 15.3 g/t | or | 0.45 oz/t | over | 1.0 m | |||||
| TL-08-021 | 8.36 g/t | or | 0.24 oz/t | over | 8.0 m | |||||
| including | 18.6 g/t | or | 0.54 oz/t | over | 2.0 m | |||||
| Note: 1 troy ounce = 31.10348 grams |
Details of all significant assay results are located below in Table #1.
The Turner Lake Property consists of the HA 1-4 mineral claims which covers an area of approximately 29.0 sq km contains three known Archean age mineral occurrences, Main Gold Showing, Turner East Gold and Nickel Knob Showing. The Main Gold Showing which was the primary target of the 2008 summer drill has a surface exposure of over 500 metres and was tested to a depth of 150 metres during this drill program. The 2008 results indicate this zone of mineralization remains open along strike and to depth. The massive sulphide Nickel Knob Showing results were presented in the Trade Winds press release of March 16th, 2008.
The gold mineralization at the Main Gold Zone occurs near a mafic metasedimentary-ultramafic (Fe-Mg) contact with most concentrations focused within the Iron rich metasedimentary unit. Visible gold is common in most holes associated with quartz veins/microveins in close proximity to higher arsenopyrite concentrations. Arsenopyrite and lesser pyrrhotite and chalcopyrite commonly occur throughout the zone. ICP 35 element analysis indicates that Ag, As, Bi and S concentrations are significantly higher in the gold zone. There appears to be at least 3 generations of quartz veining of various orientations and stages of deformation.
|
Table # 1 Significant Assay Results |
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| Hole Name | From | To | Interval | Gold | Gold | Visible Gold | Area Tested | |||||||
| (m) | (m) | (m) | (g/tonne) | (oz/ton) | ||||||||||
| TL-08-001 | 33.70 | 35.00 | 1.30 | 9.53 | 0.28 | East Fold Nose | ||||||||
| 44.00 | 48.90 | 4.90 | 4.41 | 0.13 | VG | |||||||||
| 52.00 | 54.00 | 2.00 | 1.69 | 0.05 | ||||||||||
| TL-08-004 | 19.00 | 22.00 | 3.00 | 6.25 | 0.18 | East Fold Nose | ||||||||
| 26.90 | 27.90 | 1.00 | 8.96 | 0.25 | ||||||||||
| 76.00 | 78.00 | 2.00 | 4.95 | 0.14 | ||||||||||
| TL-08-005 | NSV | East Fold Nose | ||||||||||||
| TL-08-006 | 47.00 | 57.00 | 10.00 | 3.18 | 0.09 |
VG |
West Fold Area |
|||||||
| 74.00 | 75.00 | 1.00 | 3.34 | 0.10 | ||||||||||
| 80.00 | 83.00 | 3.00 | 2.65 | 0.08 | ||||||||||
| TL-08-007 | 68.00 | 77.34 | 9.34 | 2.49 | 0.07 |
VG |
West Fold Area |
|||||||
| 98.00 | 101.00 | 3.00 | 1.39 | 0.04 | ||||||||||
| 146.00 | 149.00 | 3.00 | 1.25 | 0.04 | VG | |||||||||
| TL-08-008 | 105.30 | 107.15 | 1.85 | 3.06 | 0.09 | West Fold Area | ||||||||
| TL-08-009 | 65.30 | 72.20 | 6.90 | 3.22 | 0.09 | VG | Main Gold Zone | |||||||
| TL-08-010 | 126.60 | 129.10 | 2.50 | 2.95 | 0.09 | Main Gold Zone | ||||||||
| TL-08-011 | 171.00 | 176.00 | 5.00 | 4.7 | 0.14 | VG | Main Gold Zone | |||||||
| 180.00 | 181.00 | 1.00 | 1.42 | 0.04 | ||||||||||
| 183.00 | 184.00 | 1.00 | 3.8 | 0.11 | ||||||||||
| TL-08-012 | 115.20 | 123.70 | 8.50 | 16.2 | 0.47 | VG | Main Gold Zone | |||||||
| including | 116.20 | 118.20 | 2.00 | 31.85 | 0.93 | VG | ||||||||
| including | 121.20 | 123.20 | 2.00 | 25.2 | 0.74 | VG | ||||||||
| TL-08-013 | 275.00 | 280.00 | 5.00 | 8.9 | 0.26 | VG | Main Gold Zone | |||||||
| TL-08-019 | 42.00 | 46.00 | 4.00 | 4.9 | 0.14 | VG | Main Gold Zone | |||||||
| TL-08-020 | 59.00 | 69.00 | 10.00 | 4.39 | 0.13 | VG | Main Gold Zone | |||||||
| including | 67.00 | 68.00 | 1.00 | 15.3 | 0.45 | VG | ||||||||
| TL-08-021 | 86.00 | 88.00 | 2.00 | 1.53 | 0.05 | VG | Main Gold Zone | |||||||
| 92.00 | 100.00 | 8.00 | 8.36 | 0.24 | VG | |||||||||
| including | 96.00 | 98.00 | 2.00 | 18.6 | 0.54 | VG | ||||||||
|
Note: |
Core lengths are estimated to range between 55-80% of true width as the zone is interpreted to have a near vertical dip. |
Northrock can earn a 65% interest in the Turner Lake project from Trade Winds by spending $1 million in the first year and issuing 150,000 shares. Northrock can earn an additional 10% by spending a further $500,000 and issuing an additional 250,000 shares.
Mr. Lorne Warner, P. Geo, Director and VP Exploration of Northrock Resources Inc. is the Qualified Person for the project as defined under NI 43-101. This news release has been prepared and reviewed by Stephen Wallace, P. Geo, VP Exploration of Trade Winds, a Qualified Person as defined by NI 43-101.
Visit our Website at www.tradewindsventures.com
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
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