| Trade Winds drills 8.01 g/t Gold over 3.0 metres |
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TRADE WINDS DRILLS 8.01 g/t GOLD OVER 3.0 METRES WITHIN 42 METRES OF SURFACE AT DETOUR LAKE, ONTARIO.
Timmins, Ontario, June 20, 2007 - Trade Winds Ventures (TSX-V: TWD, FSE: TVR) is pleased to announce additional 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 Company has received further encouraging results from five holes, TWDDH-208, TWDDH-211, TWDDH-213, TWDDH-215, and TWDDH-216, on Section 15820E. These five holes are within one of twelve step-out sections, drilled near surface, to determine the continuity of the M Zone structural corridor. Management continues to be pleased with the results of this program, as it continues to define the near surface zone. A gold bearing quartz zone was intercepted at a vertical depth of 17 metres with a grade of 4.10g/t over 4.80 metres. The M Zone is believed to extend up to the surface to bedrock with the amount of overburden being approximately 5 metres in these sections. The gold bearing M Zone structural corridor has a strike length of over four kilometers, continuing west onto the 100% owned Gowest property.
Diamond drill hole TWDDH-213 returned 8.01 grams/tonne over 3.00 metres at a vertical depth of 42 metres, including 11.10 grams/tonne over 1.00 metre and 4.65 grams/tonne over 3.50 metres, including 29.20 grams/tonne over 0.50 metres.
Diamond drill hole TWDDH-208 returned 4.10 grams/tonne over 4.80 metres at a vertical depth of 17 metres, 5.17 grams/tonne gold over 5.00 metres, including 28.70 grams/tonne over 0.50 metres and 12.50 grams/tonne over 0.50 metres, and 11.05 grams/tonne gold over 0.50 metres.
Diamond drill hole TWDDH-211 returned 7.00 grams/tonne over 1.00 metre.
Diamond drill hole TWDDH-215 returned 19.65 grams/tonne over 1.00 metre.
Diamond drill hole TWDDH-216 returned 5.58 grams/tonne over 4.00 metres, including 30.70 grams/tonne over 0.50 metres at a vertical depth of 51 metres.
Details of significant fire assay results received for recent holes completed on Section 15820E are as follows:
True Width is estimated to be between 65-75% of core length. Trade Winds has now reported on the first 22 of 53 diamond drill holes completed from this winters near surface M Zone program. Please click here for drawing of Section 15820E
Diamond drill hole locations and final depths for the M Zone diamond drill program are as follows:
Block A, using a cut-off of 1.0 grams/tonne, has 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. The resource estimation work was completed in October 2006 and is based on information contained within the Technical Report prepared by Golder Associates Ltd. on Trade Winds behalf and filed on SEDAR.
The objective of Phase 1 2007 winter drilling program was to explore the mineralization of this new zone discovered in 2006 along a 480 metre strike length between Sections 15380E and 15860E at 40 metres intervals, while Phase 2 focused on in-fill drilling of the near surface M Zone mineralization from Sections 15900E to 16740E. Drilled on a 40 meter by 40 meter spacing, both vertically and horizontally, these new holes are part of the drilling done to the west of the area encompassing the previously published NI 43-101 indicated resource. The 2007 drill program was designed to potentially add new gold ounces to the resource estimate, and upgrade the near surface inferred gold ounces, already included in the current resource estimate, to the indicated category.
Management is looking to increase shareholder value by working towards the completion of the spin-off 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 raise up to a maximum of $7,500,000 to fund the development programs for these projects. It is expected that TWD would own approximately 60% of WCH prior to the distribution to shareholders.
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 and Dardanelles gold properties 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.
Mr. Alex Burton, P. Eng., P. Geo., is the qualified person for Trade Winds projects at Detour Lake and has reviewed the information contained herein. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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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