Trend Mining Reports Further Drill Results From Diabase Peninsula Uranium Project
HILTON HEAD, S.C., July 7 /PRNewswire-FirstCall/ — Trend Mining Company (OTC Pink Sheets: TRDM) is pleased to report further assays from the Diabase Peninsula uranium project showing anomalous uranium levels that are typical of values at the margins of economic uranium deposits in Saskatchewan’s Athabasca Basin. The project is a joint venture with Nuinsco Resources (TSX: NWI) being the operator of the project. Of particular interest is hole ND-08-08, located near to recently reported gravity “lows” with characteristics similar to those associated with major Athabasca Basin uranium deposits such as Key Lake, Rabbit Lake, Midwest Lake and Sue.
The two drill holes, ND-08-07 and ND-08-08, were collared approximately 11 kilometres apart. ND-08-07 was drilled in an area about two kilometres north of the project’s main target area to test for an interpreted cross-fault, while ND-08-08, the most northerly hole drilled to date, was collared to test a ground TEM geophysical conductor and possible faulting. ND-08-07 returned several anomalous uranium (U) results between 472.6 metres and 501.5 metres (discontinuously sampled), which peaked at 0.04% U (0.048% U3O8) within the basement graphite and sulphide bearing schists of the Cable Bay Shear Zone. DDH ND-08-08 produced anomalous uranium values, peaking at 0.02% U (0.029% U3O8), from 507 metres to 517 metres (continuously sampled) in sandstone and schists at the unconformity target horizon. These uranium results are typical of values at the margins of economic uranium deposits.
To view full drill results for holes ND-08-07 and ND-08-08, please visit http://media3.marketwire.com/docs/DiabasedrillresultsJune608.pdf. To view drill plans, please visit http://media3.marketwire.com/docs/nuinscodrillplansJune608.pdf. All analyses are conducted by the Saskatoon Research Council laboratory in Saskatoon.
“Of particular importance is the proximity of ND-08-08 to gravity lows interpreted to result from the presence of hydrothermally altered, desilicified, sandstone typically found in proximity to uranium mineralization in the Athabasca Basin,” said Paul Jones, President of Nuinsco. “The presence of uranium geochemistry along with strongly anomalous minerals such as arsenic, cobalt, nickel and boron near these gravity responses only serves to heighten the prospective nature of the geology. A drill rig remains on the property and we are in the process of determining our next steps for additional drilling at Diabase in 2008.”
ND-08-07 and ND-08-08 were part of a $2.5 million winter work program, which included a 6,534 metre drilling program, conducted over 23 kilometres of strike along the prospective Cable Bay Shear Zone that underlies the entire property for 35km from north to south. Strongly anomalous uranium mineralization, peaking at 0.07% uranium (0.083% U3O8) in ND-08-01 at the unconformity, has been obtained from the drill core of this year’s program (see news release dated June 6, 2008).
Exploration work on the 21,900 hectare Diabase Peninsula Project, located approximately five kilometres north of the southern boundary of Saskatchewan’s Athabasca Basin, includes 28 widely spaced drill holes totalling 11,205 metres. Nuinsco is the operator, and currently owns an approximate 82% interest in the property and is partnered with Trend Mining Company of Hilton Head, SC (OTC Pink Sheets: TRDM.PK). The project is being supervised by C.A. Wagg, Manager of Canadian Exploration for Nuinsco, who acts as QP under National Instrument 43-101 who has read and approved the contents of this press release.
About Trend Mining Company
Trend is a U.S.-based mineral exploration company. Trend currently has two projects in North America. One is the Diabase Peninsula Uranium Project more fully described in this news release. The second is the Lake Owen platinum- palladium-magnetite project where the Company holds 100% of approximately 12,000 acres of federal unpatented claims. The Lake Owen Complex is a steeply dipping, extensive, layered, igneous intrusive complex with a lateral dimension of approximately four by six miles. Several zones hosting anomalous amounts of platinum and palladium have been traced and delineated by past sampling and drilling. Additionally, a large sub-ore grade magnetite resource is known on the site which has the potential to host economic concentrations of both titanium and vanadium.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company which are available at http://www.sec.gov/.
Trend Mining Company
CONTACT: John Ryan, CFO of Trend Mining Company, +1-843-263-1169