Detour Gold Corporation

TSX : DGC


Detour Gold Corporation

June 02, 2014 17:00 ET

Detour Gold Reports High Grade Gold Intersections in the Lower Detour Area of Its Detour Lake Property

TORONTO, ONTARIO--(Marketwired - June 2, 2014) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") reports assay results from its 2014 exploration drilling program in the Lower Detour Lake area located approximately 6 kilometres south of the Detour Lake gold mine on its 100% owned Detour Lake property. The Company extended its initial 8,000 metre drilling program to nearly 15,000 metres as a result of encouraging results and a longer winter drilling season. The Company completed 14,874 metres in 40 holes and has received assay results for all significant intersections of the program.

The Company has identified a significant mineralized system to the north of Zone 75 in following up a high-grade intercept of 17.3 g/t over 4.4 metres (DLD-13-075, last hole of the 2013 drilling program). This east-west mineralized zone (referred to as Zone 58N) was tested over a length of 450 metres by 28 holes totaling 10,888 metres. The mineralized system has a maximum width of 120 metres and narrows to less than 15 metres to the west and east. It has been tested from surface to a depth of approximately 300 metres and it remains open to the west and down dip. The gold mineralization is mainly found within the southern portion of a strongly sheared and altered feldspar porphyry intrusive containing quartz and/or quartz-tourmaline veins with up to 10% pyrite and multiple occurrences of visible gold. The results suggest that the grade and continuity of the gold mineralization may improve at depth.

"Confirming high-grade potential within trucking distance of the processing plant only after our second exploration drilling program and with minimal expenditures demonstrates the tremendous potential of our large land package," said Paul Martin, President and CEO of Detour Gold. "Our team is excited about the prospects for success over the coming years. In the coming months, the Company will complete a detailed geological and structural interpretation exercise of the Lower Detour area in preparation for the next winter drilling campaign."

Highlights from Zone 58N include (uncut assays reported) (from west to east):

  • 9.69 g/t over 30.3 metres (hole DLD-14-105)
  • 11.82 g/t over 32.4 metres (hole DLD-14-103)
  • 12.74 g/t over 28.0 metres (hole DLD-14-110, 80 metres up dip from DLD-14-103)
  • 5.67 g/t over 23.0 metres and 5.04 g/t over 16.0 metres (hole DLD-14-112)
  • 9.20 g/t over 22.0 metres (hole DLD-14-116)
  • 2.55 g/t over 31.1 metres (hole DLD-14-120)

Gold mineralization was also encountered in Zone 75 (20 to 50 metres south of Zone 58N described above). This mineralized zone is characterized by strongly sheared and altered mafic volcanics and feldspar porphyry dykes containing quartz veins and up to 25% sulphides.

Highlights from Zone 75 include:

  • 4.31 g/t over 7.3 metres (hole DLD-14-111)
  • 10.82 g/t over 7.0 metres (hole DLD-14-088)
  • 7.41 g/t over 5.1 metres (hole DLD-14-100)

The Company has also completed 3,985 metres in 12 holes testing mainly geophysical (IP) anomalies over a strike length of 5 kilometres in the Lower Detour area. With only partial assays available, only minor pyrite and/or pyrrhotite with no significant gold mineralization were encountered in the holes.

All drill hole data, including drill hole location map and cross sections are posted on the Company's website under Projects/Detour Lake Exploration: Regional.

Detour Gold's drilling program is being managed by its Exploration Manager, Guy MacGillivray, P.Geo., a Qualified Person within the meaning of National Instrument 43-101. Mr. MacGillivray has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The true width of the reported intercepts is estimated to be 65 to 75% of the drilled length. No significant gold mineralization was intersected in the other drill holes. Samples are prepared at ALS Laboratories in Timmins and Sudbury and assayed at their Vancouver, B.C. laboratory. Analysis for gold is done on sawn half core samples (size NQ) using 50 grams fire assay (AA finish). Samples with higher grade gold (>3 g/t) or with visible gold are re-assayed using the pulp and metallics procedures. The Company's quality control checks include the insertion of standard reference materials and blank samples to monitor the accuracy of the assay data.

About Detour Gold

Detour Gold is an emerging mid-tier gold producer in Canada. In 2014, the Company is completing the ramp-up of its 100% owned Detour Lake mine to a long life, large scale open pit operation.

Forward-Looking Information Forward-Looking Information

This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this press release contains forward-looking statements regarding the Company's plans to complete a detailed geological and structural interpretation exercise of the Lower Detour area in preparation for the next winter drilling campaign. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's ability to predict or control and may cause Detour Gold'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. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled "Description of Business - Risk Factors" in Detour Gold's 2012 AIF and in the continuous disclosure documents filed by Detour Gold on and available on SEDAR at www.sedar.com.
Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: the availability of financing for exploration and development activities; operating and capital costs; the Company's ability to attract and retain skilled staff; the mine development schedule; sensitivity to metal prices and other sensitivities; the supply and demand for, and the level and volatility of the price of, gold; timing of the receipt of regulatory and governmental approvals for development projects and other operations; the supply and availability of consumables and services; the exchange rates of the Canadian dollar to the U.S. dollar; energy and fuel costs; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; market competition; ongoing relations with employees and impacted communities and general business and economic conditions. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date hereof, or such other date or dates specified in such statements. Detour Gold undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Lower Detour Area - Significant Assay Results from 2014 Drilling Program
Shown by sections from West to East and Drill Holes from South to North
Hole No. From To Length Au g/t
(uncut)
Au g/t
(cut to
30 g/t)
Mineralized Zone
(IFP = intermediate feldspar porphyry)
(m) (m) (m)
Section 595730E
DLD-14-091 229.2 235.0 5.8 4.06 4.06 75 silicified shear zone; quartz veins; VG
Section 595680E
DLD-14-089 231.6 241.0 9.4 1.12 1.12 75 silicified shear zone; quartz veins
DLD-14-108 151.0 154.1 3.1 2.94 2.94 75 silicified shear zone; quartz veins
Section 595630E - Zone 58 N from 2 to 10 m (core length)
DLD-14-087 301.4 304.0 2.6 3.63 3.63 75 silicified, sericitized shear zone
DLD-14-113 94.0 96.3 2.3 7.05 7.05 75 silicified shear zone
DLD-14-125 22.0 30.0 8.0 2.66 2.66 58N sheared mafic volcanics; quartz veins; VG
Section 595580E - Zone 58N from 10 to 30 m (core length)
DLD-14-105 370.9 401.2 30.3 9.69 8.14 58N silicified IFP; quartz-tourmaline veins; VG
Incl. 377.0 388.5 11.5 19.68 16.27 IFP; quartz-tourmaline veins; VG
DLD-14-090 231.0 235.0 4.0 4.10 4.10 75 sheared quartz feldspar porphyry; quartz veins; VG
DLD-14-100 141.8 146.9 5.1 7.41 7.41 75 IFP; quartz veins; VG
DLD-14-088 87.0 94.0 7.0 10.82 4.07 75 silicified shear zone; quartz veins; VG
Section 595530E - Zone 58N from 60 to 130 m (core length)
DLD-14-103 320.5 352.9 32.4 11.82 3.08 58N sericitized IFP; quartz-tourmaline veins; VG
376.7 387.0 10.3 3.46 3.46 58N IFP; quartz-tourmaline veins; VG
DLD-14-110 165.0 181.0 16.0 1.55 1.55 58N IFP; quartz-tourmaline veins; VG
215.0 243.0 28.0 12.74 2.81 58N IFP; quartz-tourmaline veins; VG
261.0 296.0 35.0 1.03 1.03 58N IFP; quartz-tourmaline veins
DLD-14-115 86.0 121.0 35.0 1.55 1.55 58N IFP; quartz-tourmaline veins; VG
165.0 186.0 21.0 1.72 1.72 58N IFP/mafic volcanics; quartz-tourmaline veins; VG
Section 595480E - Zone 58N from 115 to 160 m (core length)
DLD-14-112 253.0 276.0 23.0 5.67 3.43 58N sheared IFP; quartz-tourmaline veins; VG
296.0 312.0 16.0 5.04 3.06 58N sheared IFP; quartz-tourmaline veins; VG
320.0 334.0 14.0 2.72 2.72 58N sheared IFP; quartz-tourmaline veins; VG
344.0 351.5 7.5 4.96 2.59 58N sheared IFP; quartz-tourmaline veins; VG
DLD-14-111 135.2 142.5 7.3 4.31 4.31 75 silicified shear zone; quartz veins; VG
157.0 205.0 48.0 1.00 1.00 58N IFP; quartz veins; VG
216.0 226.0 10.0 1.06 1.06 58N IFP; quartz-tourmaline veins; VG
309.0 316.0 7.0 8.92 5.51 58N IFP; quartz veins; VG
DLD-14-116 55.5 57.5 2.0 15.03 8.33 75 sheared IFP; quartz veins; VG
103.0 125.0 22.0 9.20 4.42 58N IFP; quartz-tourmaline veins; VG
153.0 156.5 3.5 5.62 5.25 58N IFP; quartz veins; VG
275.3 283.0 7.7 3.25 2.78 58N IFP; quartz veins; VG
Section 595430E - Zone 58N from 20 to 30 m (core length)
DLD-14-120 97.3 99.0 1.7 2.80 2.80 75 silicified shear zone; quartz veins
169.4 200.5 31.1 2.55 2.19 58N IFP; quartz-tourmaline veins; VG
Incl. 169.4 179.0 9.6 6.49 5.35 IFP; quartz-tourmaline veins; VG
DLD-14-122 50.0 58.2 8.2 1.69 1.69 58N IFP; quartz-tourmaline veins
215.0 221.0 6.0 1.94 1.94 Mafic volcanics; quartz-carbonate veins
Section 595330E - Zone 58N from 20 to 45 m (core length)
DLD-14-123 352.7 386.0 33.3 1.22 1.22 58N mafic volcanics/ IFP; quartz veins
Incl. 366.9 381.0 14.1 2.45 2.45 IFP; quartz-tourmaline veins
DLD-14-121 251.0 266.0 15.0 0.98 0.98 58N IFP; quartz veins
276.0 293.3 17.3 0.95 0.95 58N IFP; quartz veins
DLD-14-119 77.4 85.5 8.1 2.10 2.10 75 silicified shear zone; quartz veins
Section 595230E - Zone 58N approx. 25 m (core length)
DLD-14-097 270.0 295.0 25.0 0.88 0.88 58N IFP; quartz veins

Note: True width is estimated to be 65 to 75% of the drilled length. No significant gold mineralization was intersected in the other drill holes. Reported intervals are also shown with an assay cap of 30 g/t. Reported average gold grade is over core length widths.

Contact Information

  • Detour Gold Corporation
    Paul Martin
    President and CEO
    (416) 304.0800

    Detour Gold Corporation
    Laurie Gaborit
    Director Investor Relations
    (416) 304.0581

    Detour Gold Corporation
    Royal Bank Plaza, South Tower
    200 Bay Street, Suite 2200
    Toronto, Ontario M5J 2J1
    www.detourgold.com