| Trade winds drills 10.66 g/t Gold over 5.0 metres |
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TRADE WINDS DRILLS 10.66 g/t GOLD OVER 5.0 METRES WITHIN 86 METRES OF SURFACE AT BLOCK A, DETOUR LAKE, ONTARIO.
Timmins, Ontario, June 28, 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 four more holes, TWDDH-203 and TWDDH-205 on Section 15580E, and TWDDH-207 and TWDDH-209 on Section 15620E. These four holes are within two 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 M Zone. The M Zone is believed to extend up to the surface to bedrock with the amount of overburden ranging from 9 to 20 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.
On Section 15580E, diamond drill hole TWDDH-203 returned 85.30 grams/tonne over 1.00 metre and 3.36 grams/tonne gold over 3.00 metres.
Diamond drill hole TWDDH-205 returned 1.51 grams/tonne over 8.00 metres at a depth of 33 metres from surface.
Details of significant fire assay results received for holes completed on Section 15580E are as follows:
On Section 15620E, diamond drill hole TWDDH-207 returned 10.66 grams/tonne over 5.00 metres, including 37.70 grams/tonne over 1.0 metre.
Diamond drill hole TWDDH-209 returned 6.42 grams/tonne over 3.00 metres, 10.15 grams/tonne over 1.00 metre, and 4.05 grams/tonne over 3.20 metres.
Previously reported 2005 drilling, intersecting the M Zone some 125 metres deeper on this section, also returned encouraging results as follows:
Diamond drill hole TWDDH-045 returned 9.66 grams/tonne over 6.24 metres, including 46.70 grams/tonne over 1.00 metre and 14.70 grams/tonne over 0.52 metres.
Diamond drill hole TWDDH-046 returned 6.89 grams/tonne over 2.40 metres, including 45.30 grams/tonne over 0.35 metres.
Details of significant fire assay results received for recent holes completed on Section 15620E are as follows:
True Width is estimated to be between 65-75% of core length. Trade Winds has now reported on the first 26 of 53 diamond drill holes completed from this winters near surface M Zone drilling program. Please click here for drawings of Section 15620E and Section 15580E.
Diamond drill hole location and final depths for the M Zone diamond drill program are as follows:
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.
In October 2006, Trade Winds reported 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, using a cut-off of 1.0 gram/tonne. The Technical Report prepared by Golder Associates Ltd. was filed on SEDAR on behalf of Trade Winds.
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 Trade Winds would own approximately 60% of WCH prior to the distribution to shareholders.
Trade Winds 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 Trade Winds property and to enable Trade Winds 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.
Click here for Stock Quote/Chart Click here for SEDAR regulatory filings
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