News
Tri-Gold plans 4,000 m drilling at Nipigon/Sibely
2007-07-13 16:57 ET - News Release
Mr. Barry Coughlan reports
TRI-GOLD RESOURCES CORP.: EXPLORATION UPDATE
Tri-Gold Resources Corp. is releasing an exploration update on its project in Northern Ontario.
Stake Lake copper-gold project
The final report and interpretation of the spectral induced-polarization/resistivity and magnetometer survey that was carried out during the period March 30 to April 11, 2007, have recently been completed. A series of induced-polarization anomalies have been identified, one of which is coincident with an area which yielded 2.3 per cent to 4.1 per cent copper (Cu), 0.5 gram per tonne (g/t) to 2.7 g/t gold (Au) and 41 g/t to 82 g/t silver (Ag), taken from an outcrop in the fall of 2006. Follow-up channel sampling is planned for late July, 2007, in addition to planning and preparing for a diamond drill program, to be undertaken in the fall of this year.
Nipigon/Sibley basin uranium project
The final report and interpretation of the airborne magnetic and MegaTEM survey that was carried out between Jan. 28 and Jan. 31, 2007, have recently been completed. Conductive and high-intensity zones have been recognized, most of which are well situated proximal to modelled basement lineaments (faults), as derived from the magnetic field data. A follow-up ground radiometric survey will commence in the last week of July, 2007, which will focus on the highest-ranking anomaly. A proposed 4,000-metre diamond drill program is still scheduled to commence in the late summer or fall of 2007, targeting unconformity-style and basement-hosted uranium targets.
Big Duck Lake Au project
The company is currently undergoing a major review of the entire project area, but focusing on the Coco-Estelle prospect to the east of the prospect area. In particular, a computer-based 3-D block model of all surface channel/trench and drill hole data is being undertaken. This will form the basis of a detailed assessment and re-evaluation of the area, which will be completed by mid-August this year. The results of this assessment will determine what follow-up work will be required at Big Duck Lake.
The company is also issuing 100,000 stock options to an officer of the company.
We seek Safe Harbor.