Detour Lake gold propects show promise

Vancouver – Detour Lake is showing promise for Detour Gold (DGC-T) and it’s JV-partner for part of the project, Trade Winds Ventures (TWD-V), as both companies release drill results from different areas of the site with strong gold numbers.

Detour Gold announced results from 15 new holes from its Phase 1 program designed to infill drill the known West Pit and Calcite Zone deposits as well as test the continuity of mineralization between the two targets. Results show the gap between the targets is mineralized: hole 32 hit 40 metres grading 1.03 grams gold per tonne starting 69 metres downhole, hole 54 returned 6.99 grams gold over 12 metres from 191 metres deth, and hole 61 intersected 6 metres of 31.18 grams gold also starting 191 meres below surface.

The infill drilling also gave strong results. Hole 43, collared in the West Pit, first hit 32 metres of 1.23 grams gold starting 126 metres downhole, and then intersected 5 metres of 8.29 grams gold at 466 metres below surface. Another West Pit hole, number 46, returned 8.01 grams gold over 12 metres from 320 metres depth. And in the Calcite Zone, Hole 47 hit 22 metres of 1.76 grams gold starting 88 metres downhole and hole 50 returned 7.13 grams gold over 7 metres from 202 metres depth.

The Detour Lake project sits in northeastern Ontario, in the Abitibi Greenstone Belt. The 242-sq. km project includes the West Pit and Calcite zone deposits, collectively called the Detour Lake deposit, which hosts an indicated resource of 20 million tonnes grading 2.14 grams gold plus an inferred resource of 35.4 million tonnes grading 1.8 grams gold. The deposit lies just south of the former Detour Lake mine, which produced 1.8 million ounces of gold between 1983 and 1999 under Placer Dome.

The 2006 resource estimate used a gold pirce of US$450/oz. and assumed one large pit covering both deposits. The optimization study produced two seperate pits. Thus Detour Gold’s 2007 drill programs were designed to assess continuity of mineralization, as well as upgrade inferred resources to indicated. The company plans to release a new resource estimate in the fall.

Some 5 km to the northwest of the Detour Lake deposit lies Block A, a seperate target on the same property being explored through a joint venture with Trade Winds Ventures. Trade Winds is also pulling strong, though short, gold cores as the company steps out to the west from the M Zone corridor discovered last summer.

Hole 219 returned 5.78 grams gold over 1 metre at 114 metres depth followed by 4.6 metres of 5.48 grams gold starting 280 metres downhole. Hole 222 intersected 2 metres grading 8.96 grams gold at 245 metres below surface; 20 metres deeper the drill hit 0.5 metres of 14.75 grams gold. And hole 224 returned 1.08 grams gold over 7.88 metres starting 166 metres below surface.

Trade Wind’s 2007 drill programs at Block A were designed to better outline the new zone discovered in 2006 and explore to the west of the new zone. To the east sits a 2006 resource estimate of 14.2 million tonnes grading 1.77 grams gold indicated and 24.8 million tonnes grading 1.88 grams gold inferred.