Trelawney Mining and Exploration Inc.
TSX VENTURE : TRR

Trelawney Mining and Exploration Inc.

June 21, 2010 15:07 ET

Trelawney Intersects 202.50 Metres of 0.87 g/t Gold on 100-Metre Step-Out at the Cote Lake Deposit

TORONTO, ONTARIO--(Marketwire - June 21, 2010) - Trelawney Mining and Exploration Inc. (the "Company") (TSX VENTURE:TRR) announces additional drill results from the Cote Lake Deposit on the Chester Project located halfway between Timmins and Sudbury in northern Ontario. Highlights of the drilling program include:

  • Hole E10-15 – 50.75 metres of 0.71 g/t gold
  • Hole E10-16 – 202.50 metres of 0.87 g/t gold
  • Hole E10-17 – 13.50 metres of 5.15 g/t gold
  • Hole E10-18 – 36.0 metres of 1.27 g/t gold
  • Hole E10-19 – 115.00 metres of 0.71 g/t gold

The results being reported are from the Cote Lake Deposit located about 1 kilometre southwest and along strike of the former Young Shannon gold mine (Chester 2 Deposit). The holes are located on two different sections. The first three holes (E10-15, E10-16 and E10-17) are located on section 95+00E located 200 metres east of the discovery section. The additional two holes (E10-18 and E10-19) are located on section 92+00E and are overcuts of holes previously reported on May 17, 2010. The spacing between drill holes on each section varies from 50 to 75 metres.

Results released from the deposit to date are from four sections (92E to 95E), spaced 100 metres apart. The mineralization has been traced to depths of 350 metres, and on the most drilled section, 93+00E, it has a width of at least 400 metres in section. The wide zones of low grade gold +/- copper mineralization are associated with brecciated intermediate to felsic, and locally mafic intrusive rocks. Mineralization occurs in the form of disseminated and fracture controlled sulfides which generally correlate to the gold values. Visible gold is commonly observed. The zones are bleached with the prevalent alteration being feldspathic and chloritic. Carbonate content in the breccia is quite limited (small rare veins). Structure associated with the gold mineralization is limited to brecciation with a lack of penetrative foliation. The mineralization and alteration envelope associated with this system remains open to the north at depth, to the south and along strike.

The expansion and exploration drill program continues with two rigs defining the extent of the Cote Lake deposit and a third rig exploring other targets on the 1,700 hectares (4,200 acre) Chester Property.

Greg Gibson, Trelawney's President and CEO commented, "We continue to be very encouraged by the results from the Cote Lake area. The additional five drill holes reported today have expanded the mineralization on section 92E and confirmed similar mineralization on a new section 100 metres to the east of the known zone. With each drill hole we are growing more and more confident that Cote Lake will develop into a large tonnage, open pitable gold deposit. Together with our Chester 1 and 2 underground high grade projects Trelawney is on target to rapidly become a mid-tier gold producer. We will continue to aggressively explore and expand Cote Lake while moving our underground projects forward."

Cote Lake Deposit Drilling Results:

Hole From To Length Gold (g/t) Copper (%) Au cut Grade Gold (Oz/t)
(m) (m) (m) uncut cut to 50g/t* uncut
E10-15 153.00 203.25 50.75 0.71 0.05   0.02
               
E10-16 32.51 33.85 1.34 5.98     0.18
  57.00 62.35 5.35 0.71     0.02
  105.50 106.00 0.50 6.47     0.19
  134.50 337.00 202.50 0.87 0.03 0.86 0.03
               
E10-17 47.00 112.00 65.00 0.38 0.01   0.01
  181.50 274.00 92.50 0.31     0.01
  303.50 317.00 13.50 5.15 0.04   0.15
               
E10-18 10.17 11.00 0.83 6.04 0.01   0.18
  55.00 139.00 84.00 0.69 0.02   0.02
incl 55.00 91.00 36.00 1.27     0.04
  330.00 333.10 3.10 2.43 nil   0.07
E10-19              
  17.00 132.00 115.00 0.71 0.01   0.02
  148.42 175.81 27.39 0.33 nil   0.01
  306.00 307.00 1.00 1.13     0.03
Notes:
• True widths of intersections are unknown at this time
* Only interval with assays cut to 50 g/t gold are shown
Intervals are graded with a lower cut of 0.40 g/t with internal waste and low grade material within graded zones of up to 20 metres in length.

Sections of the drill holes for which assays are reported are attached herewith and posted on Trelawney's website (www.trelawneymining.com).

Trelawney Mining and Exploration has implemented a Quality-Control, Quality Assurance program to ensure best practice principals are being applied in the sampling and analysis of the drill core. Samples are crushed to -8 mesh then a 1,000 gram subset of each sample is pulverized to 90% passing -150 mesh. Assays have been completed using a standard fire assay with a 30 gram aliquot and an AA finish. For samples that return values of between two to five grams per tonne gold, another pulp is taken and fire assayed with a gravimetric finish. Samples returning values greater than five grams per tonne are re-analyzed by pulp metallic analysis. NQ size drill core is saw cut, and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is transported in security-sealed bags to the Accurassay prep lab in Sudbury, Ontario by Trelawney personnel. Accurassay is an ISO/IEC 17025 certified Laboratory by the Standards Council of Canada. In addition to quality assurance controls at the laboratory, blanks and certified standards have been inserted into the sample stream at random intervals.

David Beilhartz, Vice President, Exploration for Trelawney Mining and Exploration, a Qualified Person under NI 43-101, has prepared or supervised the scientific or technical information for the property and verified the data disclosed in this press release.

Trelawney is a Canadian junior mining and exploration company with a strategic focus on "Quality Ounce" gold deposits. The Company's current focus is directed towards the development and continued exploration of its newly acquired Chester Project, located in Chester Township 20 kilometres southwest of Gogama, Ontario.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The first figure associated with this release is available at the following link: http://media3.marketwire.com/docs/trr0621fig1.pdf.

The second figure associated with this release is available at the following link: http://media3.marketwire.com/docs/trr0621fig2.pdf.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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