Global measured and indicated mineral resources of 20.5 million ounces (inclusive of mineral reserves)
Advancing North America's 4th Largest Gold Reserves Towards Development
Message: Detour Gold Reports More Consistent Results From 2007 Phase II Drilling at Its D
Detour Gold Reports More Consistent Results From 2007 Phase II Drilling at Its Detour Lake Property in Northern Ontario, Canada
(4.11 g/t over 43.0 m in Gap Zone and 8.86 g/t over 17.0 m in West Pit area)
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to report the drill results of 21 holes from the Gap Zone and West Pit of its Phase II drilling program at the Detour Lake property in northern Ontario. The Company started Phase II drilling in July 2007 and thus far has completed 294 holes totaling 115,739 metres (including 17 holes abandoned for 1,411 metres). The Company has now reported 160 holes totaling 55,852 metres (including 13 holes abandoned for 1,146 metres). There are four (4) active drill rigs on site.Results from 17 holes in the Gap Zone continued to return consistent positive drill results as the Company completes its 40 m X 40 m infill program. Of importance, 4.11 g/t (uncut) over 43.0 metres was intersected in hole DG-07-245, which is near the outline of the current US$575 pit shell. Gold mineralization was encountered in all four (4) holes drilled in the West Pit area. Holes DG-07-232 intersected 1.00 g/t over 30.0 metres within 50 metres of surface and 400 metres northward into the hanging wall. The extent of the northern limits of the mineralized corridor remains to be defined in certain areas of the Gap Zone and West Pit.
The best mineralized (uncut) intervals encountered are shown below.
Gap Zone
----------------------------------------------------------------------------
DG-07-245 DG-07-249 DG-07-254 DG-07-257
--------- --------- --------- ---------
1.85 g/t over 8.60 g/t over 1.31 g/t over 3.45 g/t over
28.8 m 12.0 m 27.0 m 15.0 m
4.11 g/t over 8.46 g/t over 3.81 g/t over 1.48 g/t over
43.0 m 26.0 m 12.0 m 34.0 m
3.12 g/t over
14.0 m
DG-07-268 DG-08-285 DG-08-290 DG-08-293
--------- --------- --------- ---------
3.70 g/t over 1.46 g/t over 2.45 g/t over 1.82 g/t over
39.0 m 59.0 m 36.0 m 22.0 m
3.24 g/t over 1.86 g/t over 1.57 g/t over
14.0 m 22.0 m 29.2 m
West Pit
----------------------------------------------------------------------------
DG-07-225 DG-07-232 DG-07-240
--------- --------- ---------
1.10 g/t over 7.40 g/t over 8.86 g/t over
54.0 m 8.0 m 17.0 m
The 135,000 metre Phase II program is expected to be completed by mid-2008. Approximately half of that program, along with Phase I, will be included in the end of June resource update. The Company is extremely confident in meeting its objectives of outlining a mineral resource of over 10 million ounces of gold at Detour Lake. The planned June resource update will be based on a fully designed and engineered open pit that will serve as the basis of our 2008 feasibility study to be completed by year-end.
The December 2007 mineral resource contained 4.8 million ounces in the measured and indicated categories (1.22 M oz in measured and 3.61 M oz in indicated) and 3.0 million ounces in the inferred category, using a gold price of US$575/oz (equivalent to a cut-off grade of 0.64 g/t gold and capped at 20 g/t gold).
Regional Exploration Program
Detour Gold completed a 12,055 metre regional drilling program on the Detour Lake property in the first quarter of 2008. Approximately six kilometres of the Sunday Lake Deformation Zone, east of the Detour Lake deposit were tested with 5,389 metres in 20 holes. Several high deformation zones were intersected into the volcanic assemblage, but with only anomalous to low grade gold mineralization. The best holes included: 1.46 g/t over 8.0 metres (DGE-08-319) and 1.08 g/t over 4.0 metres (DGE-08-323).
Another 3,981 metres in 11 holes targeted the North Walter Lake area where the gold mineralization is localized on the south limb of a north-overturned syncline. The best hole intersected 0.91 g/t over 28.0 metres (DGE-08-346) and confirmed the previously known mineralization. The eastern continuation of the M Zone (main target on Block A) on the Detour Lake property was tested over a strike length of 2,000 metres by 2,685 metres of drilling in 7 holes. Although the same ultramafic sequence was intersected, no significant gold mineralization was found.
The 2008 regional exploration results are being assessed for a follow-up drill program next winter. The potential for gold mineralization remains to be fully tested in these areas.
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or http://www.detourgold.com/dgc/Latest... on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The December 2007 mineral resource was prepared by Thon Consulting and audited by Michael W. Kociumbas, P.Geo., Vice-President of Watts, Griffis and McOuat Limited. Details on the current mineral resource are available in the January 2008 Technical Report, which is posted on the Company's website or on SEDAR (www.sedar.com).
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold (greater than 5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control ("QA/QC"), refer to the press release dated April 11, 2007.
For the regional exploration program, samples were prepared and assayed at ALS Chemex in Vancouver, British Columbia, using a 51 analyses aqua regia ICPMS method (ME-MS41) with Au 30g FA AA finish for ore grade gold samples (Au-AA25). The same QA/QC (April 11, 2007) was applied to this program.
Detour Lake Project - Highlights of Drill Results
----------------------------------------------------------------------------
Au
Cut
Au to 20
Hole No. Section From To Length Uncut g/t
No. (m) (m) (m) (g/t) (g/t) Host Rock Unit
----------------------------------------------------------------------------
DG-07-225 19,600E 68.0 78.0 10.0 1.15 1.15
---------------------------------------------------------
West Pit 104.0 119.0 15.0 0.83 0.83
---------------------------------------------------------
213.0 267.0 54.0 1.10 1.10 Lower Pillow Flow
---------------------------------------------------------
293.0 300.0 7.0 0.82 0.82
----------------------------------------------------------------------------
DG-07-232 19,300E 39.0 69.0 30.0 1.00 1.00 Upper Pillow Flow
---------------------------------------------------------
West Pit 101.0 109.0 8.0 1.03 1.03
---------------------------------------------------------
257.0 264.0 7.0 1.85 1.85
---------------------------------------------------------
305.0 317.0 12.0 1.47 1.47
---------------------------------------------------------
335.0 348.0 13.0 1.63 1.63
---------------------------------------------------------
358.0 365.0 7.0 0.88 0.88
---------------------------------------------------------
416.0 445.0 29.0 1.23 1.23 Lower Pillow Flow
---------------------------------------------------------
453.0 466.0 13.0 1.34 1.34
---------------------------------------------------------
475.0 484.0 9.0 1.00 1.00
---------------------------------------------------------
514.0 523.0 9.0 1.19 1.19
---------------------------------------------------------
533.0 541.0 8.0 7.40 6.77 Lower Mafic Flow
---------------------------------------------------------
Inc. 534.0 534.5 0.5 27.43 20.00
---------------------------------------------------------
Inc. 537.0 537.5 0.5 20.09 20.00
---------------------------------------------------------
Inc. 539.0 540.0 1.0 21.32 20.00
---------------------------------------------------------
571.0 620.0 49.0 0.95 0.94 Lower MF/CMH
---------------------------------------------------------
Inc. 571.5 572.0 0.5 20.68 20.00
----------------------------------------------------------------------------
DG-07-240 19,280E 49.0 85.0 36.0 1.04 1.04 Contact PF/MF
---------------------------------------------------------
West Pit 128.0 145.0 17.0 8.86 2.48 Lower PF
---------------------------------------------------------
Inc. 137.0 138.0 1.0 128.46 20.00
---------------------------------------------------------
167.0 177.0 10.0 1.61 1.61
---------------------------------------------------------
196.0 220.0 24.0 0.83 0.83
---------------------------------------------------------
315.0 325.0 10.0 1.86 1.86
---------------------------------------------------------
345.0 381.0 36.0 1.09 1.09 Lower MF/Lower PF
---------------------------------------------------------
496.0 507.0 11.0 1.87 1.87
----------------------------------------------------------------------------
DG-07-241 19,480E 38.0 46.0 8.0 4.70 2.49 Lower Mafic Flow
---------------------------------------------------------
West Pit Inc. 38.7 39.2 0.5 55.35 20.00
---------------------------------------------------------
58.0 70.0 12.0 2.65 2.65 CMH
---------------------------------------------------------
100.0 107.0 7.0 1.25 1.25
----------------------------------------------------------------------------
DG-07-242 19,220E 26.5 34.0 7.5 0.95 0.95
---------------------------------------------------------
Gap Zone 64.0 71.0 7.0 0.76 0.76
----------------------------------------------------------------------------
DG-07-244 19,200E Casing broke in overburden. Not assayed
Gap Zone
----------------------------------------------------------------------------
DG-07-244A 19,200E 46.0 55.0 9.0 1.12 1.12
---------------------------------------------------------
Gap Zone 74.0 81.0 7.0 1.10 1.10
----------------------------------------------------------------------------
DG-07-245 18,840E 205.2 234.0 28.8 1.85 1.85 Upper Pillow Flow
---------------------------------------------------------
Gap Zone 425.0 432.0 7.0 0.81 0.81
---------------------------------------------------------
485.0 528.0 43.0 4.11 2.92 Lower Pillow Flow
---------------------------------------------------------
Inc. 492.0 493.0 1.0 26.93 20.00
---------------------------------------------------------
Inc. 524.0 525.0 1.0 64.21 20.00
---------------------------------------------------------
550.0 559.0 9.0 1.92 1.92
----------------------------------------------------------------------------
DG-07-248 19,240E 96.0 103.0 7.0 1.33 1.33
---------------------------------------------------------
Gap Zone 114.0 121.0 7.0 1.51 1.51
---------------------------------------------------------
159.0 168.0 9.0 1.80 1.80
----------------------------------------------------------------------------
DG-07-249 18,920E 47.0 58.0 11.0 0.65 0.65
---------------------------------------------------------
Gap Zone 118.0 125.0 7.0 1.15 1.15
---------------------------------------------------------
196.0 208.0 12.0 1.09 1.09
---------------------------------------------------------
306.0 320.0 14.0 3.12 1.38 Lower Pillow Flow
---------------------------------------------------------
Inc. 318.3 318.8 0.5 68.64 20.00
---------------------------------------------------------
463.0 475.0 12.0 8.60 6.98 Lower Pillow Flow
---------------------------------------------------------
Inc. 471.0 472.0 1.0 31.40 20.00
---------------------------------------------------------
Inc. 472.0 473.0 1.0 28.10 20.00
---------------------------------------------------------
497.0 523.0 26.0 8.46 6.49 Lower Pillow Flow
---------------------------------------------------------
Inc. 499.0 500.0 1.0 41.90 20.00
---------------------------------------------------------
Inc. 500.0 501.0 1.0 41.40 20.00
---------------------------------------------------------
Inc. 503.0 503.6 0.6 22.50 20.00
---------------------------------------------------------
Inc. 503.6 504.1 0.5 33.24 20.00
---------------------------------------------------------
556.0 566.0 10.0 2.43 2.43
----------------------------------------------------------------------------
DG-07-253 19,000E 40.0 48.0 8.0 0.87 0.87
---------------------------------------------------------
Gap Zone 124.0 131.0 7.0 0.88 0.88
----------------------------------------------------------------------------
DG-07-254 18,960E 100.0 127.0 27.0 1.31 1.31 Upper Mafic Flow
---------------------------------------------------------
Gap Zone 206.0 213.0 7.0 1.68 1.68
---------------------------------------------------------
225.0 239.0 14.0 1.16 1.16
---------------------------------------------------------
265.0 272.0 7.0 1.13 1.13
---------------------------------------------------------
280.0 287.0 7.0 1.09 1.09
---------------------------------------------------------
319.0 331.0 12.0 1.91 1.91
---------------------------------------------------------
418.0 430.0 12.0 3.81 3.81 Lower Pillow Flow
---------------------------------------------------------
481.0 488.0 7.0 0.88 0.88
----------------------------------------------------------------------------
DG-07-256 19,000E 86.0 93.0 7.0 1.32 1.32
---------------------------------------------------------
Gap Zone 374.0 381.0 7.0 1.20 1.20
---------------------------------------------------------
401.0 415.0 14.0 1.80 1.80 Lower Pillow Flow
---------------------------------------------------------
457.0 466.0 9.0 2.49 2.49
----------------------------------------------------------------------------
DG-07-257 19,000E 101.0 108.0 7.0 0.98 0.98
---------------------------------------------------------
Gap Zone 185.0 192.0 7.0 3.48 3.48
---------------------------------------------------------
225.0 240.0 15.0 3.45 2.18 Lower Pillow Flow
---------------------------------------------------------
Inc. 239.0 240.0 1.0 39.10 20.00
---------------------------------------------------------
247.0 254.0 7.0 2.63 2.63
---------------------------------------------------------
272.0 321.0 49.0 0.92 0.92 Lower Pillow Flow
---------------------------------------------------------
367.0 401.0 34.0 1.48 1.43 Lower Mafic Flow
---------------------------------------------------------
Inc. 387.0 388.0 1.0 21.63 20.00
---------------------------------------------------------
463.0 475.0 12.0 0.93 0.93
----------------------------------------------------------------------------
DG-07-258 18,660E 53.0 64.0 11.0 0.85 0.85
---------------------------------------------------------
Gap Zone 90.0 139.0 49.0 0.81 0.81 Lower Mafic Flow
---------------------------------------------------------
153.0 160.0 7.0 0.85 0.85
---------------------------------------------------------
173.0 187.0 14.0 1.18 1.18
----------------------------------------------------------------------------
DG-07-268 18,620E 28.0 36.0 8.0 1.35 1.35
---------------------------------------------------------
Gap Zone 96.0 103.0 7.0 1.48 1.48
---------------------------------------------------------
115.0 129.0 14.0 2.72 2.72 Upper Pillow Flow
---------------------------------------------------------
140.0 147.0 7.0 0.85 0.85
---------------------------------------------------------
186.0 225.0 39.0 0.86 0.86 Lower Pillow Flow
---------------------------------------------------------
258.0 272.0 14.0 3.24 3.14 Lower Mafic Flow
---------------------------------------------------------
Inc. 262.0 263.0 1.0 21.42 20.00
---------------------------------------------------------
293.0 302.0 9.0 1.06 1.06
---------------------------------------------------------
314.0 335.0 21.0 1.01 1.01
---------------------------------------------------------
385.0 424.0 39.0 3.70 2.97 Lower Mafic Flow
---------------------------------------------------------
Inc. 389.0 390.0 1.0 33.71 20.00
---------------------------------------------------------
Inc. 393.0 394.0 1.0 26.02 20.00
---------------------------------------------------------
Inc. 410.0 411.0 1.0 28.92 20.00
---------------------------------------------------------
477.0 484.0 7.0 1.42 1.42
----------------------------------------------------------------------------
DG-07-283 18,700E 43.0 50.0 7.0 0.83 0.83
---------------------------------------------------------
Gap Zone 105.0 112.0 7.0 0.69 0.69
----------------------------------------------------------------------------
DG-08-285 19,040E 31.0 90.0 59.0 1.46 1.46 Lower MF/Lower PF
---------------------------------------------------------
Gap Zone 111.3 118.5 7.2 0.72 0.72
---------------------------------------------------------
140.0 148.0 8.0 1.50 1.50
---------------------------------------------------------
187.0 209.0 22.0 1.86 1.65 Lower MF
---------------------------------------------------------
Inc. 192.0 193.0 1.0 24.60 20.00
---------------------------------------------------------
231.0 238.0 7.0 6.07 3.98 CMH
---------------------------------------------------------
Inc. 237.0 238.0 1.0 34.60 20.00
----------------------------------------------------------------------------
DG-08-289 19,160E 108.0 116.0 8.0 1.81 1.81
---------------------------------------------------------
Gap Zone 169.0 176.0 7.0 1.29 1.29
---------------------------------------------------------
189.0 205.0 16.0 1.04 1.04
---------------------------------------------------------
257.0 270.0 13.0 1.29 1.29
---------------------------------------------------------
277.0 286.5 9.5 0.73 0.73
---------------------------------------------------------
297.0 312.0 15.0 0.73 0.73
----------------------------------------------------------------------------
DG-08-290 19,040E 34.0 41.0 7.0 0.77 0.77
---------------------------------------------------------
Gap Zone 79.0 94.0 15.0 1.00 1.00
----------------------------------------------------------------------------
147.8 177.0 29.2 1.57 1.57 Lower Pillow Flow
---------------------------------------------------------
203.0 239.0 36.0 2.45 2.22 Lower PF/Lower MF
---------------------------------------------------------
Inc. 210.0 211.0 1.0 28.40 20.00
---------------------------------------------------------
252.0 260.0 8.0 2.92 2.92
---------------------------------------------------------
343.0 350.0 7.0 2.35 2.35
---------------------------------------------------------
365.0 387.0 22.0 0.84 0.84
----------------------------------------------------------------------------
DG-08-293 19,120E 25.0 40.0 15.0 1.21 1.21
---------------------------------------------------------
Gap Zone 55.0 62.0 7.0 1.16 1.16
---------------------------------------------------------
83.0 105.0 22.0 1.82 1.82 Lower PF
---------------------------------------------------------
154.0 165.0 11.0 3.05 2.30 Lower MF
---------------------------------------------------------
Inc. 155.0 156.0 1.0 28.30 20.00
---------------------------------------------------------
180.0 188.0 8.0 1.31 1.31
---------------------------------------------------------
261.5 297.0 35.5 1.12 1.12 CMH/Lower MF
----------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the table.
True width is estimated to be 65 to 75% of the drilled length.
Forward-Looking Information
This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding: the Company's planned drilling program and estimate of the quantity and quality of its mineral resources. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties involved in interpreting geological data and other risks involved in the gold exploration and development industry as well as those risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR. Readers are cautioned that the list of factors included in the AIF is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the following assumptions: the Company's exploration and development activities on the Detour Lake Property will proceed in accordance with the Company's current timetables; and the Company's resource estimates, geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources) and operational and price assumptions on which the resource estimates are based, are accurate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Contacts:
Detour Gold Corporation
Gerald Panneton
President and CEO
(416) 304-0800
Detour Gold Corporation
Laurie Gaborit
Director Investor Relations
(416) 304-0581
Website: www.detourgold.com
5 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply