Trade Winds Reports 8.38 g/t Au over 19.47 metres from Drilling on Block A
• M Zone gold mineralization intersected within current pit shell
• 8.38 g/t Au over 19.47 m and 3.02 g/t Au over 8.79 in M Zone
• 2.41 g/t Au over 11.3 m and 1.53 g/t Au over 19.0 m in Footwall Zone
• 105.5 g/t Au over 1.37 m in M Zone, 79.0 g/t Au over 0.50 m and 34.5 g/t Au over 1.0 m in Foot Wall Zone
Vancouver, BC, July 15, 2010, – Trade Winds Ventures Inc. (TSX-V: TWD, FSE: TVR) (“Trade Winds”) is pleased to announce the results for eight (8) completed holes totaling 3,534 metres from the winter 2010 drill program on the Block A property in northeastern Ontario, a 50/50 joint venture (JV) with Detour Gold Corporation (“Detour Gold”). Block A is located adjacent to Detour Gold’s Detour Lake gold project, which contains a mineral reserve of 11.4 million ounces of gold. Trade Winds is currently the operator of the JV on Block A.
The 2010 winter drilling was completed on April 17th with a total 11,591 metres of drilling in 30 diamond drill holes. The Company previously announced the assay results of fifteen (15) drill holes totaling 4,930 metres from this program. This drill program was designed to fill drill-hole gaps and to test the western extension of the currentUS$700/oz pit shell, which presently contains an indicated resource of 1.2 million ounces and an inferred resource of 277,000 ounces of gold at an average grade of 1.02 grams/tonne (g/t), as outlined in the July 9, 2009 Technical Report by Watts, Griffis and McQuat (“WGM”).
The M Zone, the major gold mineralized zone on Block A, was intersected in all eight drill holes. All eight of these drill holes also intersected gold mineralization in the hanging wall and footwall on the north and south sides respectively of the M Zone. The 23 drill holes announced to date of the winter 2010 drill program continue to confirm the validity of the 2009 block model in predicting the location of M Zone and hanging wall and footwall zones parallel to the M Zone. Based on previous drilling, the M Zone extends another two kilometres further west of the proposed US$700/oz pit on Block A.
The best gold drill intercepts from this group of eight holes include 8.38 g/t over 19.47 m in hole TWDDH-254, 3.02 g/t over 8.79 m in TWDDH-259, 2.41 g/t over 11.3 m in TWDDH-260 and 1.53 g/t over 19.0 m in TWDDH-257. There continues to be a number of significant gold values greater than 10 g/t in most of the drill holes within the pit shell, including gold values as high as 105.5 g/t over 1.37 m in the M Zone of TWDDH-254, 79.0 g/t over 0.5 m in footwall zone of TWDDH-260 and 34.5 g/t Au over 1.0 m in footwall zone of TWDDH-254. Full results are summarized in the table below.
Ian Lambert, CEO & President, stated “The winter 2010 drill program has been highly successful infilling and extending the mineralization within and to the west of the current US$700 pit. Every hole has intersected gold mineralization. We are seeing mineralization from near surface on the hanging wall side of the M Zone, often for up to 300 metres on the north side of the structure, and extending for up to 200 metres on the footwall side to the south of the M Zone. We anticipate this new mineralization, which is mostly in-pit, will contribute to the reduction of what is currently categorized as waste rock, and will result in new resource ounces. In addition, the results from the extended footwall drilling will have a strong influence on the next round of winter drilling which is being planned to include the examination of the footwall side of the structure from the M Zone several hundred metres to the southern boundary of the Block A property.”
