Printer Friendly

Pelangio Advised That M-Zone Structure Has 3.6 Kilometre Strike Length.

TORONTO -- Pelangio Mines Inc. (TSX VENTURE: PLG) today announced that Trade Winds Ventures Inc. (TSX VENTURE: TWD) has released additional results from its drilling program at the Detour Lake Block A property. Trade Winds' has an option agreement with Pelangio to earn a 50% interest in Pelangio's Detour Lake Block A gold property.

Under the terms of the option agreement, Trade Winds has the right to acquire a 50 per-cent interest in the Detour Lake Block A property subject to staged payments of cash and shares to Pelangio totaling $250,000 and 500,000 shares, and completion of an exploration commitment of $7,500,000. Trade Winds is the operator on the project during the earn-in and thereafter until completion of a bankable feasibility study, at which time, Pelangio shall have the option to become operator.

The Detour Lake Block A property, contiguous with the western boundary of the Detour Mine property, is located approximately 180 km northeast of the City of Timmins, within the Porcupine Mining Division in the District of Cochrane, Ontario. The Detour Lake Block A property comprises approximately 4.5 square miles of the 80 square mile Detour Lake property owned by Pelangio.

Trade Winds issued a press release on October 4, 2004 regarding its latest drill results, the text of which follows verbatim:


Timmins, Ontario, October 4, 2004 - Trade Winds Ventures Inc. (TSXV: TWD) announces that diamond drilling at Detour Lake has now located the M-Zone Structure over a 3.6 kilometre strike length. As well, the Company is able to confirm that significant gold mineralization has now been intercepted over 2.8 kilometres strike length from its on-going drilling program on Block A and the West Block, two of its optioned Detour Lake Properties in Ontario. Trade Winds' 2004 exploration NQ drilling program of some 30,000+ metres is testing the M Zone and Northwest Zone structures extending generally east-west across these Detour Lake properties located approximately 160 km. northeast of Timmins, Ontario, under option from Pelangio Mines Inc. (TSX-V: PLG) and Gowest Amalgamated Resources Ltd. (TSX-V:GWA).

Drill holes TWDDH-014 to TWDDH-020 were completed through to August, with all assay results now received and listed hereunder. A summary of results includes:
Section Hole No. Metric Results Imperial Results
14000 E TWDDH-015 9.51 g/t gold 0.28 oz/ton gold
 over 0.5 metres over 1.6 feet
 TWDDH-019 3.6 g/t gold 0.11 oz/ton gold
 over 17.0 metres over 55.8 feet
 TWDDH-019 21.4 g/t gold 0.63 oz/ton gold
 over 2.0 metres over 6.6 feet
14500 E TWDDH-014 10.73 g/t gold 0.31 oz/ton gold
 over 2.73 metres over 9.0 feet
 TWDDH-014 2.87 g/t gold 0.08 oz/ton gold
 over 8.0 metres over 26.2 feet
 TWDDH-016 13.07 g/t gold 0.38 oz/ton gold
 over 4.4 metres over 14.4 feet
 TWDDH-016 69.1 g/t gold 2.03 oz/ton gold
 over 0.7 metres over 2.3 feet
14600E TWDDH-018 5.07 g/t gold 0.15 oz/ton gold
 over 4.75 metres over 15.6 feet
 TWDDH-018 6.16 g/t gold 0.18 oz/ton gold
 over 3.0 metres over 9.8 feet

Two diamond drills continue to test the M Zone Structure along a 3.6 kilometre strike length, with one drill focusing on determining the outer limits to a recently discovered, large zone of gold mineralization located along the M-Zone structure, the Upper M Gold Zone, up-dip of Placer Dome's original M Zone drilling. The other drill is focusing on infill drilling on sections every one hundred metres from 14000E to 15000E. The M Zone structure trends within a magnesium enriched, basaltic-komatite surrounded by iron-rich pillowed and massive basalts.

To date, Trade Winds has intercepted the Upper M Gold Zone over an 850 metre strike length from 14000E to 14850E, with heights in excess of 300 metres and true widths of greater than 7.0 metres. When combined with the lower M Zone gold mineralization, originally discovered by Placer Dome and the subject of further drilling by Trade Winds, the total height of significant gold mineralization can reach in excess of 500 metres.

TWDDH-014/016/017 tested infill Section 14500E. The purpose of diamond drill holes TWDDH-014/016/017 was to test beneath, within and above the interpreted limits of the Upper M Gold Zone respectively. In now typical Upper M Gold Zone style the majority of gold mineralization occurs in the structure's footwall, with hole TWDDH-016 returning an intercept of 13.07 g/tonne Au over 4.4 metres.

TWDDH-014 penetrated beneath the main body of the zone yet still returned 2.87 g/tonne gold over 8.0 metres including 14.4 g/tonne gold over 1.0 metre along the M structure's footwall. In addition, the newly discovered Midway Zone was cross-cut and returned 10.73 g/tonne gold over 2.73 metres. The Midway Zone appears to have a 50-100 metre height and similar plunge to the M Zone mineralization.

TWDDH-017 tested beyond the interpreted upper limits, exploring for additional mineralization along the M Zone structure. Visible gold was encountered along the M Zone structure's hangingwall contact instead of the footwall, returning 2.55 g/tonne gold over a 2.0 metre core length and may represent the start of a new zone.

Table # 1 Section 14500E (Estimated true width is determined to be approximately 94% of drill interval)
HOLE (Metres) (Metres) (Metres) ASSAY COMMENTS
 (g/tonne Au)

TWDDH- Section Azimuth 180 Dip -74
014 14500E degrees degrees End of Hole 688.00 M

 423.70 426.00 2.73 10.73 Midway Zone
 Visible Gold in
 Quartz vein in
 579.50 580.12 0.62 6.44 Pillowed Basalt
 601.00 603.00 2.0 3.71 Hangingwall M Zone
 609.00 611.00 2.0 7.14 Middle M Zone
 616.00 624.00 Footwall M Zone,
 8.0 2.87 Gold
 623.00 624.00 1.0 14.4 Quartz vein with
 Visible Gold
 Pillowed Basalt with
 640.00 643.00 3.0 4.30 veining

TWDDH- Section Azimuth 180 Dip -60 End of Hole 652.00 M
016 14500E degrees degrees

 443.60 448.00 4.4 13.07 Footwall M Zone


 443.60 444.30 0.7 69.10 Visible Gold in
 Quartz vein.

TWDDH- Section Azimuth 180 Dip -54 End of Hole 517.00 M
017 14500E degrees degrees

 Quartz vein Pillowed
 253.50 254.35 0.85 3.47 with Visible Gold
 Hangingwall M Zone
 372.00 374.00 2.0 2.55 Visible Gold
 Footwall M Zone with
 382.00 383.00 1.0 1.49 Chalcopyrite

TWDDH-018 has been completed on infill Section 14600E. The Midway Zone area returned two intercepts of 5.07g/tonne gold over 4.75 metres and 6.16 g/tonne gold over 3.0 metres. The hangingwall contact of the M Zone returned a large-lower grade intercept of 1.04 g/tonne over 11.0 metres. The footwall of the M Zone returned 3.39 g/tonne gold over 6.0 metres though visible gold was observed in 5 of 6 samples.
HOLE (Metres) (Metres) (Metres) ASSAY COMMENTS
 (g/tonne Au)
TWDDH- Section Azimuth 180 Dip -68
018 14600E degrees degrees End of Hole 657.33 M

 357.75 358.25 Quartz vein with
 0.5 35.2 gold

 393.75 398.50 4.75 5.07 Midway Zone
 410.00 413.00 3.0 6.16 Midway Zone
 529.00 540.00 11.0 1.04 Hangingwall M Zone

 Footwall M Zone -
 572.00 578.00 6.0 2.87 Gold observed in all

TWDDH-015/019 were completed on step-out Section 14000E with TWDDH-015 ending before reaching target depth. TWDDH-019 cross-cut the M Zone providing a core length of 17.0 metres averaging 3.60 g/tonne gold including 21.4 g/tonne gold over 2.0 metres along the hangingwall contact. The lower contact returned 11.35 g/tonne gold over 1.0 metre.
HOLE (Metres) (Metres) (Metres) ASSAY COMMENTS
 (g/tonne Au)

TWDDH- Section Azimuth 180 Dip -74
015 14000E degrees degrees End of Hole 929.50 M

 824.75 825.25 Quartz vein in
 0.5 9.51 Basalt
 880.00 882.00 2.0 4.38 Middle M Zone
 884.00 885.00 1.0 6.59 Middle M Zone
 Hole abandoned before reaching target depth due to poor
 ground conditions.

TWDDH- Section Azimuth 180 End of Hole 804.43 M
019 14000E degrees
 Dip -64

 719.00 736.00 17.0 3.60 Upper M Zone
 727.00 729.00 2.0 21.4
 745.00 746.00 1.0 11.35 Lower M Zone

TWDDH-020 completed on step-out exploration Section 13200E was designed to locate the M Zone structure close to surface, far away from predicted mineralization but providing guidance towards orientating deeper drilling. No significant values were obtained although minor quartz veining with traces of chalcopyrite and sphalerite were observed.

Trade Wind's diamond drilling program at Detour Lake is focused on defining the Upper M Gold Zone over one kilometre from 14000 to 15000E prior to the commencement of a major winter drilling program at the easterly end of the structure. The winter campaign will be centred on defining additional, potentially open-pit, near-surface gold mineralization along several known structures including the M Zone. Previous drilling by Placer Dome has outlined 3 main target areas including additional near-surface M Zone gold mineralization.

Mr. Ian Lambert, Trade Winds' CEO, stated "We are particularly gratified by the continuity of height and grade that we are seeing along a significant strike length for all sections of the M Zone that have been drilled to date. We have a assembled a highly qualified team of explorationists, headed by Lorne Warner, former Senior Geologist with Placer Dome including several years at Detour Lake. He is supported by our Detour Lake Project Manager, Mr. Michael Roberts, Project Geologist formerly with Placer Dome both at Detour Lake as well as Red Lake. These two professionals, with their depth of knowledge about our project areas, head our team totalling four geologists and six technicians located at our two camps in Ontario. This is a large undertaking, and we are well equipped personnel-wise, and well funded, with over $6 million in our treasury, to continue the excellent progress we have been making".

Mr. Lorne Warner, P. Geo., is the qualified person responsible for the Trade Winds' exploration programs at Detour Lake. Fire assay results have been provided by ALS Chemex."

About Pelangio Mines

Pelangio is an innovative mineral exploration and development company with properties in Ontario and Quebec, Canada. Its most significant gold project is at Detour Lake in northeastern Ontario where more than 80 square miles of the Abitibi Greenstone Belt is held. Past production from the Pelangio ground by Placer Dome and Amoco totaled 1.7 million ounces of gold. For a discussion of the historically estimated resource remaining on the property, please refer to Pelangio's Management Discussion and Analysis dated August 26, 2004 (pp 2-4), filed on A scoping study is currently underway at Detour Lake to re-estimate the resource calculated by Placer Dome at the end of mine life. The study is expected to be completed in compliance with National Instrument 43-101 Standard of Disclosure of Mineral Projects; as such, the final resource estimate may vary from the historical estimate. For additional information, please visit our Website at

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Pelangio Mines Inc. (TSX VENTURE:PLG)
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1CANA
Date:Oct 4, 2004
Previous Article:Permabit Uses Secure Hashing Technology in Accordance with Federal Standards.
Next Article:invivodata Urges the FDA to Address Patient Reported Outcomes Data In Its Critical Path Initiative.

Related Articles
Pelangio Commences Drilling At Detour Mine Property.
Pelangio Receives Update from Trade Winds on Drilling Activities at Detour Lake Block A.
Pelangio Mines Exploration Update.
Pelangio Receives Update From Trade Winds On Drilling Activities At Birch Lake Property.
Pelangio Advised of High Grade Gold Intercepts on M Zone Including 11.82 G/Tonne Gold Over 4.0 Metres.
Pelangio Advised Recent Drilling Results Confirm And Help Define High Grade Zone At Birch Lake.
Pelangio Announces That 25,000+ Metre Winter Drilling Programs Underway At Detour Lake.
AXMIN Accelerates Exploration At Kofi Project Area, Mali Following Updated Resource Estimate.
High-grade gold finds at Detour Lake.
4 Junior piecing the golden puzzle together.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters