Trelawney Intersects Gold Values Up to 7.52 G/T Gold Over 2.5 Metres
Trelawney Resources Inc. (TSX VENTURE: TRR) reports that assay results have been received from the first five holes from an ongoing drilling program on the Dorset property. Drilling was focused in the immediate vicinity of the recently stripped area of the Dorset “B” zone to test near surface gold mineralization. All holes intersected the Dorset “B” zone, and all five holes returned significant gold mineralization. The highest value of 7.52 g/t over a core length of 2.5 metres was intersected in drill hole DB-08-02. Complete results are listed in the following table.
———————————————————————– —– Hole From To Grade (g Au/ t) Core Length (m) —————————————————————————- DB-08-01 (-45 degrees) 13.3 21.4 1.04 8.1 —————————————————————————- – including 16.4 17.4 2.01 1.0 —————————————————————————- – including 20.5 21.4 2.72 0.9 —————————————————————————- DB-08-02 (-85 degrees) 20.9 28.1 4.01 7.2 —————————————————————————- – including 25.6 28.1 7.52 2.5 —————————————————————————- DB-08-03 (-45 degrees) 14.8 16.6 3.77 1.8 —————————————————————————- DB-08-04 (-70 degrees) 17.0 20.0 1.16 3.0 —————————————————————————- – including 18.0 19.5 1.54 1.5 —————————————————————————- DB-04-05 (-45 degrees) 4.0 7.6 1.93 3.6 —————————————————————————- – including 5.7 7.6 3.14 1.9 —————————————————————————- – including 6.2 7.2 4.57 1.0 —————————————————————————- 20.3 22.8 3.19 2.5 —————————————————————————-
As previously announced, this drilling program is being conducted as follow up to recently completed mechanical stripping of the Dorset “B” zone. Recent stripping has revealed that the Dorset “B” zone is structurally complex with several areas of intense folding. Drill holes 1, 2 and 5 were drilled to the south, inclined at -45 degrees, -85 degrees and -45 degrees respectively. Holes 3 and 4 were drilled along the same section, inclined from east to west, to determine the plunge direction of a major fold structure.
The current drill program has been temporarily suspended due to wet ground conditions and drilling is expected to re-commence within the next few weeks.
In addition to drill results, the Company has also results from saw cut channel samples collected during the recent stripping program. A total of 108 samples returned values ranging from 0.01 to 5.76 g/t Au over a 1 metre channel cut.
All split and/or sawn core drill and channel samples were submitted to Swastika Laboratories, Swastika, Ontario. All gold assaying was performed using a 30 g standard fire assay with an AA and / or gravimetric finish.
For more information, including pictures of recent drill core, drill hole location plan and idealized cross sections, please visit the Company website at www.trelawneyresources.com.
Trelawney President Wayne O’Connor stated, “The current Inferred Resources for just the B zone alone stands at 40,000 ounces of gold (with a grade of 1.85 g/t Au). Assay results from this recent drilling, and the surface channel samples confirms that significant near surface gold mineralization exists, and with additional drilling, our aim is not only to add to our current resources, but to outline an area of the Dorset “B” zone which may represent an open pit resource. Furthermore, the holes drilled east to west suggest that the “B” zone may plunge steeply to the east, into areas not previously drill tested.”
On the Dorset property, Trelawney has earned a 50% interest in the project, and a joint venture has now been formed with MetalCORP Limited. Trelawney is the manager of the Joint Venture and has presented an exploration program for 2008/2009 with an estimated budget of approximately $476,000. MetalCORP has decided not to participate in this phase of the program, and their interest in the project will be diluted below 50% 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 a press release dated October 31, 2007. The initial estimate (using a 0.50 g Au/t 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 (4,760,000 tonnes grading 1.19 g/t Au). The complete report can be accessed on www.sedar.com.
Trelawney also owns a 100% 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.
Robert Duess, P. Geo. is a “Qualified Person” as defined in National Instrument 43-101 and is responsible for the technical information presented in this news release.
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Contacts: Trelawney Resources Inc. Wayne J. O’Connor President and CEO (416) 361-2826 Email: firstname.lastname@example.org Website: www.trelawneyresources.com
SOURCE: Trelawney Resources Inc.