Post by
sammenard on Sep 17, 2007 2:50pm
TAL to drill Sibley by end of the month
September 17, 2007
Drilling on Stake Lake Complete-And Drilling to Commence on Sibley Basin
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2007) - Tri-Gold Resources Corp. (the "Company") (TSX VENTURE:TAL) is pleased to announce that drilling of the Company's Stake Lake copper gold property is now complete. As previously reported (News Release dated August 13, 2007), the drill program at Stake Lake was designed to test a series of Induced Polarization anomalies. A total of 1,398 meters of drilling was completed, and the Company is awaiting the results of samples submitted for assay.
Furthermore, preparations are being made to drill a minimum of four diamond drill holes on the Company's Sibley Basin uranium property. Tri-Gold Resources has the exclusive rights and option to earn up to a sixty (60) percent interest in the project with joint venture partner, Benton Resources Corp. This initial phase of drilling on the Sibley Basin project is designed largely for geological purposes, by means of testing a series of conductive zones in the central portion of the property, as interpreted from the airborne magnetic and MEGATEM survey, which was carried out in January 2007. The target zone is also well sited proximal to modeled basement lineaments (faults), as derived from the magnetic field data. Such a setting may well be similar to unconformity-style and basement-hosted uranium targets, which are believed to exist within the Sibley Basin. This drill program will assist greatly in characterizing the depth and nature of the basement floor rocks and the overlying sediments. Drilling is scheduled to commence towards the end of September 2007.
The Company will also evaluate for Cu and Ni-PGE potential of the Sibley Sills on the property, which are regionally known to contain deposits of this style and which are the same age as the Duluth Complex.