NEWS!!!!News Releases
Mon Oct 16, 2006
PRESS RELEASE OCTOBER 16, 2006
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Tri-Gold Resources Corp (TSX:V TAL) announces the completion of its 2006 Summer work program consisting of prospecting, trenching, washing, sampling, assaying and mapping of its Big Duck Lake "Hemlo-West" property in Northern Ontario. Final mapping under the direction of Henry Marsden, P. Geo to identify drill targets was completed on October 15, 2006.
The 100% owned Big Duck Lake property comprising 2900 Hectares, has had numerous exploration programs over the last 50 years by such major mining companies as Falconbridge, Inmet and Battle Mountain (now Newmont) resulting in over one hundred diamond drill holes recording more than 40 gold occurrences found on the property
Since obtaining the property in 2004, after Newmont allowed the claims to come open, Tri-Gold has initiated a comprehensive and extensive exploration program that has filled in the geological gaps left by previous owners of the property and has now prepared the property for diamond drilling.
To date, a central shear zone extending over 5 kilometers from west to east through the claim block has been found to host mineral combinations of molybdenum, copper, barite and seracite, analogous to the mineralogy found at the famous Hemlo gold deposit, 100 km from Big Duck Lake, and which over a 25 year period produced 22 million oz of gold with a value of over 15 Billion Dollars.
In addition, the 2006 summer work program confirmed orientation changes, or inflexions, along this shear zone giving further promise of a Hemlo style deposit.
Boart Longyear, one of Canada's largest and most experienced drill contractors, has been engaged to conduct the diamond drill program under the supervision of Equity Exploration Services of Vancouver. Drilling is expected to commence in late October, 2006.
Yours truly,
T. Barry Coughlan,
Executive Chairman
For Further information please contact Haroon Khan, Corporate Communications
cel:604-720-8054 e-mail: info@trigoldresources.com
Certain matters discussed in this press release may contain forward-looking statements. Investors are cautioned that all statements, other than statement of historical fact, involve risks and uncertainties, including but not limited to: exploration and mining risks and financing risks. There can be no assurance that such statement will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Investors are encouraged to review Tri-Gold's filings on SEDAR at www.sedar.com
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