Threegold Resources Inc.
TSX VENTURE : THG

Threegold Resources Inc.

April 23, 2008 10:04 ET

Encouraging Results Obtained During the First Drilling Campaign on Lemieux Dome

VAL-D'OR, QUEBEC--(Marketwire - April 23, 2008) - THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Threegold Resources Inc. (TSX VENTURE:THG) is pleased to announce that it has received assay results from twenty (20) of the twenty nine (29) drilling holes drilled on the Lemieux Dome property located in the Gaspe region of Quebec. Drilling was planned to intersect the sub-surface extensions of the zones of mineralization as mapped and sampled on the property. The results confirm the diversity of mineralization styles on this 150 sq. km property. Encouraging copper, zinc, lead and silver results were returned from the different mineralized systems.

The drill programme consisted of twenty-nine (29) cored holes (NQ), totalling 7,431 meters, drilled in proximity to seven (7) mineralized surface showings. Sixteen (16) of the drill holes were situated on the extensive Big Pioneer showing; five (5) holes on the Veronique showing; three (3) on the Brandy South; two (2) on the Federal Mine; two (2) on the Leclerc showing and one (1) on the Elizabeth showing. A number of planned holes were unable to be completed due to snow conditions. Overall, the drilling programme attained its goal and results are outlined in the table below:



------------------------------------------------------------------------
Partial results of drillings on Lemieux Dome
------------------------------------------------------------------------
Hole # Showing From To Length Cu Zn Pb Ag
(m)(i) (%) (%) (%) (g/t)
------------------------------------------------------------------------
DL07-01 Brandy 89.7 91.0 1.3 1.51 1.0
South
------------------------------------------------------------------------
DL07-02 Brandy 95.4 95.8 0.4 1.34 1.3
South
------------------------------------------------------------------------
152.0 152.5 0.5 3.46 1.5
------------------------------------------------------------------------
53.0 68.0 15.0 4.62 1.38 4.3
------------------------------------------------------------------------
133.25 133.65 0.4 5.67 2.46 3.8
------------------------------------------------------------------------
166.0 167.0 1.0 5.48 2.85 7.4
------------------------------------------------------------------------
191.5 192.0 0.5 0.42 3.40 15.2
------------------------------------------------------------------------
204.5 205.5 1.0 2.68 0.22 1.5
------------------------------------------------------------------------
223.0 224.3 1.3 1.77 2.40 13.7
------------------------------------------------------------------------
227.3 228.0 0.7 1.59 0.69 1.7
------------------------------------------------------------------------
245.3 246.5 1.2 1.32 0.21 0.7
------------------------------------------------------------------------
DL07-03 Brandy 85.3 86.0 0.7 1.75 0.93 1.5
South
------------------------------------------------------------------------
101.5 102.2 0.7 1.50 0.52 1.6
------------------------------------------------------------------------
130.0 142.95 12.95 0.11 1.83 0.99 4.2
------------------------------------------------------------------------
DL07-05 Veronique 32.9 34.2 1.3 2.32
------------------------------------------------------------------------
FED07-02 Federal 70.5 71.4 0.9 4.76 10.70 7.2
------------------------------------------------------------------------
195.5 196.0 0.5 1.05
------------------------------------------------------------------------
233.5 234.1 0.6 5.34 1.83 10.9
------------------------------------------------------------------------
441.15 441.7 0.55 1.59 0.63 4.2
------------------------------------------------------------------------
445.5 446.0 0.5 3.35 0.71 3.6
------------------------------------------------------------------------
FED07-04 Elizabeth 202.75 204.0 1.25 2.12
------------------------------------------------------------------------
BP07-02 Big 75.0 76.0 1.0 2.09
Pioneer
------------------------------------------------------------------------
114.2 115.0 0.8 1.03
------------------------------------------------------------------------
289.1 289.6 0.5 1.05
------------------------------------------------------------------------
BP07-05 Big 150.2 153.4 3.2 0.90
Pioneer
------------------------------------------------------------------------
199.5 201.0 1.5 1.20
------------------------------------------------------------------------
BP07-06B Big 68.4 84.0 15.6 0.23
Pioneer
------------------------------------------------------------------------
BP07-08 Big 48.2 49.5 1.3 2.05 0.20 1.3
Pioneer
------------------------------------------------------------------------
BP07-15 Big 40.4 48.0 7.6 0.48 0.78 2.2
Pioneer
------------------------------------------------------------------------
55.2 67.4 12.2 0.63 0.03 1.0
------------------------------------------------------------------------
(i)Core total length
------------------------------------------------------------------------


The observed mineralization in the numerous showings is different both in style and mode of emplacement of the mineralization. In the Brandy South and Veronique showings, separated by more than three (3) kilometres, mineralization occurs in veins in contact between sandstone-argillite and mafic intrusions. Copper mineralization distinguishes the Veronique showing while zinc, lead and silver is the main mineralization in Brandy South. The Federal and Big Pioneer showings, separated by more than four (4) kilometres, are important faulted corridors where epithermal breccias and veins are mineralized. The Elizabeth showing consists of a network of veins in a north-south shear while the Leclerc showing is located in a hightly hematized zone containing chalcopyrite rich veins.

Of the 998 results received to date, 21% contain more than 1 g/t silver, 24% more than 0.1% Cu, 11% contains values greater than 0.1% Zn and 9% contains values greater than 0.1% Pb. The remaining results are awaited and will be released when received.

Drilling was under the supervision of Bruce Robbins, P.Geo and Bernard-Olivier Martel, P.Geo; drillcore was logged by Bernard-Olivier Martel, P. Geo. Drillcore sample analyse was conducted by ALS-Chemex of Val-d'Or on half split cores by the ICP method for thirty five (35) elements and metals and by fire assay, atomic absorption (AA) for gold on a fraction of 30g. Duplicates and blanks were regularly inserted following quality control protocols. Samples with more than 10 000 ppm were systematically re-analysed by ICP.

Strongly encouraged by these results, the company is planning a follow up programme of work this year which will include drilling, regional geochemical evaluation, geological and structural mapping.
Antoine Fournier, P. Geo. M. Sc. and president of the company is responsible for the technical content of this press release.

Threegold's common shares are listed on the TSX Venture Exchange under the symbol "THG". Investors are invited to visit our website at www.threegold.ca.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Threegold Resources inc.
    Mr. Antoine Fournier, P. Geo,
    President
    819-825-3883
    819-825-7545 (FAX)
    or
    Threegold Resources inc.
    Mr. Daniel Duval
    Chairman of the Board
    819-825-3883
    819-825-7545 (FAX)
    info@threegold.ca
    or
    S.D.N.L. Financial Communication
    Mr. Sylvain Laberge
    Investor Relations
    514-380-5610
    slaberge@sdnlfinancial.com