11.18 g/t gold for 2.5 c company$$$$$$$
Trelawney samples over three g/t Au in 36% of samples
Mr. Wayne O'Connor reports
TRELAWNEY TO START DRILLING PROGRAM IN WAWA
Assay results have now been received from 127 grab samples collected during the recently completed mechanical stripping program on Trelawney Resources Inc.'s Dorset property. The stripping program was conducted to expose surface mineralization of the Dorset B zone (see news in Stockwatch on Sept. 25, 2008). The grab samples were collected intermittently along a strike length of approximately 100 metres and virtually all samples returned encouraging gold values. Over 36 per cent of the samples (46 samples in total) returned values ranging from 3.00 grams per tonne (g/t) gold to 11.18 g/t gold and only two samples returned nil values. Channel sampling has also been completed and results are pending. Assay results are summarized in the table.
Assay value range Number of samplesFrom 3.00 to 11.18 g/t Au 46From 2.00 to 2.99 g/t Au 23From 1.00 to 1.99 g/t Au 23From 0.50 to 0.99 g/t Au 11From 0.1 to 0.49 g/t Au 22Nil values 2 ---Total number of samples 127 ===
Please refer to the company's website for pictures of the stripped and sampled area and a comprehensive list of the assay results.
Drill equipment is currently being mobilized onto the Dorset property and a minimum 1,500-metre drilling program is expected to commence this week. Drilling will be primarily focused in the immediate vicinity of the recently stripped area of the Dorset B zone. A National Instrument 43-101-compliant resource estimate on the Dorset B zone consists of an inferred resource of 40,000 ounces of gold (620,000 tonnes grading 1.85 g/t Au, using a 1.00 g/t Au cut-off).
Trelawney president Wayne O'Connor stated: "The results from sampling of the recent stripped area are very encouraging as the average assay from the 127 samples is over 2.6 g/t Au, while an impressive 46 (36 per cent) of the samples returned values ranging from 3.0 to 11.18 g/t Au. For Archean gold deposits, these values are extremely consistent and we feel confident that with additional drilling we can significantly build on the current inferred resource of the Dorset B zone."
On the Dorset property, Trelawney has earned a 50-per-cent interest in the project, and a joint venture has now been formed with MetalCorp Ltd. Trelawney is the manager of the joint venture and has presented an exploration program for 2008 which include mechanical stripping and approximately 2,500 metres of additional drilling, with an estimated budget of approximately $476,000. MetalCorp has decided not to participate in this phase of the program, and its interest in the project will be diluted below 50 per cent pursuant to the standard dilution clauses contained within the agreement.
Trelawney recently commissioned a National Instrument 43-101-compliant resource estimate on the Dorset zone and the results were reported in Stockwatch on Oct. 31, 2007. The initial estimate (using a 0.50 g/t Au cut-off) consists of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1.42 g/t Au) and an inferred resource of 180,000 ounces of gold (4.76 million tonnes grading 1.19 g/t Au). The complete report can be accessed on SEDAR.
Trelawney also owns a 100-per-cent interest in the 13,000-acre Mishi property which is contiguous to Wesdome's producing Eagle River gold mine, the Dorset property and the Mishibishu Lake property. The area is traversed by an all-weather road and power line. A prospecting and sampling program has recently been completed and assay results are pending.
Robert Duess, PGeo, is a "qualified person" as defined in National Instrument 43-101 and is responsible for the technical information presented in this news release.