Trade Winds Ventures Inc. (TSX-V: TWD, FSE: TVR) is pleased to announce the start of the second-half drill program of 2011 on Block A (2H 2011), located adjacent to Detour Gold’s Detour Lake gold project in northeastern Ontario. The Joint Venture partners (50% Trade Winds / 50% Detour Gold) have approved a 20,000 metre (70 holes) drilling program designed to continue increasing the confidence level of the resource estimate and testing areas outside the Block A pit shell with the objective of expanding the known mineral resources. Trade Winds is the operator of the Joint Venture exploration program.
There are two objectives for this program. Much like the previous 2010 (12,000 metres) and the 1H 2011 (30,000 metres) drill programs, the 2H 2011 program is planned to expand detailed infill drilling and exploration drilling. Two diamond drill rigs will be utilized from mid-August 2011 to December 2011 to accomplish this.
A portion of the deposit located between grid lines 15,420E and 15,740E will be drilled on 40 metre by 40 metre centres to increase the confidence level of the mineral resource. A total of 54 drill holes, approximately 77% of the drill program, is planned for this infill drilling, some of which are in previously untested areas within the current pit shell. On Block A, drill spacing of closer than 80 metres is required for the category of inferred resources and closer than 40 metres for indicated resources.
As part of a continuing program to explore Block A, a total of 16 drill holes, approximately 23% of the drill program, is planned to test areas outside the current pit shell. This exploration drilling will focus on the area west of the North Walter Lake zone. The objective is to test for mineralization up to 320 metres to the west and extend the pit shell of the North Walter Lake zone westward. This area is largely untested and will be drilled on 80 metre by 80 metre centres.
In addition to the drilling program and incorporated as part of the 2H 2011 Joint Venture budget of approximately $6 million, infill sampling of previously drilled but unsampled core will continue in 2H 2011. It is anticipated that up to 10,000 metres of previously unsampled drill core from within the pit shell will be sampled and included, together with the results from the 1H 2011 and 2H 2011 drilling, in the next block model and resource estimate update at the end of the 2H 2011 program.
The material in this news release has been prepared and reviewed by Stephen Wallace, P. Geo, VP Exploration, a Qualified Person as defined in NI 43-101.
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Forward Looking Information
Certain information included in this news release constitutes “forward-looking statements”. The words “expect”, “will”, “intend”, “estimate” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from the Company’s estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to, risks associated with the mining industry such as government regulation, environmental and reclamation risks, title disputes or claims, success of mining activities, future commodity prices, costs of production, possible variation in mineral reserves, mineral resources, grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, the timing of estimated future production, capital expenditures, financial market fluctuations, requirements for additional capital, conclusions of economic evaluations, limitations on insurance coverage, risks associated with using third-party contractors and inflation. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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