Threegold Resources Inc.
TSX VENTURE : THG

Threegold Resources Inc.

May 06, 2009 10:58 ET

Threegold Resources Inc.: More Promising Results for Copper, Zinc, Silver and Gold on the Lemieux Dome Project

VAL-D'OR, QUEBEC, CANADA--(Marketwire - May 6, 2009) - Threegold Resources inc. (TSX VENTURE:THG) wishes to inform its investors of the results generated from the 2008 exploration program on its Lemieux Dome project located on the Gaspe Peninsula of Quebec. The drilling was successful in proving the continuity of the zones outlined in 2007 and in testing the underground extension of occurrences located in the northern portion of the property currently under option from Appalaches Resources (TSX VENTURE:APP). Reprocessing of geophysical data and spectral analysis of rock samples to quantify the alteration patterns are proceeding and on schedule.

The Dome Lemieux Project covers an area of approximately 150 km2 divided in four distinct properties; 100% owned Gasse-Lemieux, Vital and Cascapedia as well as the Mont-de-l'Aigle property in which Threegold signed an agreement in 2007 for the acquisition of a 50% interest from Appalaches Resources (TSX VENTURE:APP). The 2008 exploration program consisted in an extensive summer exploration program on the Lemieux Dome Property including 9256 metres of NQ diamond drilling, 945 surface outcrop samples for alteration mapping, as well as exploration trenching and sampling. The diamond drilling program targeted mineralized zones intercepted during the 2007 diamond drilling program at Big Pioneer, Veronique, Brandy South and at the former Federal Mine, as well as to test new targets outlined on Appalaches Resources' Mont-de-l'Aigle option.

The 2008 diamond drilling successfully tested the extension of Veronique - 2.32% Cu over 1.3m (Threegold - press release September 9, 2008) now interpreted to represent the southern limit of a strongly deformed zone of the north-south fault system and that extends some 470m to the Dionne occurrence. Results for holes at Dionne and nearby Cobalt copper vein are awaited. The mineralized zone at Elizabeth now extends over 950 meters from the Pardiac showing on Appalache option in the north to the Leclerc showing further to the south. Anomalous copper was obtained at Pardiac -2.3% over 1.3m and 3.77% over 0.5m (http://www.ressourcesappalaches.com/html/fr/proprietes/projet.php?pro_id=5), Elizabeth - 2.12% over 1.25m (Threegold - press release September 9, 2008) while the Leclerc was never drilled prior to this year.

The drilling on the Mont-de-l'Aigle property targeted the copper mineralizations at Hatie, Eagle-Gaspesie, Frenette, Ruisseau Anomalie and Pardiac. This first phase of diamond drilling consisted of 11 holes totalling 3347 metres of NQ sized core. Core logging and sampling was completed in early October and all samples have been shipped out to the ALS-Chemex facilities in Val-d'Or . Results for the current drilling are presented in the following table:



2008 Diamond Drill program highlights

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Drill (i)
hole Property Occurrence From To Length Cu Zn Pb Au Ag
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# (m) (m) (m) (%) (%) (%)(ppm) (ppm)
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DL08- Gasse -
09 Lemieux Elizabeth 68.00 69.28 1.28 1.61 0.89 2.49
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DL08- Gasse -
09 Lemieux Elizabeth 73.52 74.22 0.70 0.16 0.40 3.19 15.70
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DL08- Gasse -
10 Lemieux Elizabeth 46.93 55.00 8.07 1.00 3.83
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DL08- Vital Veine
11 Leclerc 82.50 85.50 3.00 0.44
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DL08- Vital Veine
12 Leclerc 69.85 73.73 3.88 0.47
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DL08- Vital Veine
12 Leclerc 133.42 134.50 1.08 1.10
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DL08- Vital Veine
13 Leclerc 98.57 100.50 1.93 0.24 2.42
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DL08- Vital Veine
14 A4-B4 24.15 27.00 2.85 0.39
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DL08- Vital Veine
14 A4-B4 29.20 30.65 1.45 1.48 0.46 2.60
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DL08- Vital Veine
15 A4-B4 87.50 88.90 1.40 0.41
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DL08- Vital Veine
17 A4-B4 85.00 93.34 8.34 0.27
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DL08- Vital Veine
17 A4-B4 106.00 108.00 2.00 0.77 527.65
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DL08- Gasse - Guillaume
18 Lemieux 45.50 47.50 2.00 0.52 1.30
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DL08- Gasse - Guillaume
18 Lemieux 147.00 147.50 0.50 1.60 1.20
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DL08- Gasse - Cobalt
19 Lemieux (Dionne) 137.50 139.00 1.50 0.24 1.10
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DL08- Gasse - Cobalt
20 Lemieux (Dionne) 193.12 194.23 1.11 0.40 2.30
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DL08- Gasse - Cobalt
20 Lemieux (Dionne) 239.15 239.63 0.48 0.74 1.20
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DL08- Gasse - Cobalt
21 Lemieux (Dionne) 261.12 262.00 0.88 0.43
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DL08- Gasse - Cobalt
22 Lemieux (Dionne) 64.00 64.30 0.30 1.20
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DL08- Mont-de-
23 l'Aigle
(APP
option) Pardiac 216.00 218.82 2.82 0.33
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DL08- Mont-de-
24 l'Aigle
(APP
option) Pardiac 124.00 124.50 0.50 0.34
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DL08- Mont-de-
24 l'Aigle
(APP
option) Pardiac 238.50 239.50 1.00 0.19
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DL08- Mont-de-
24 l'Aigle
(APP
option) Pardiac 261.50 262.00 0.50 0.21
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DL08- Mont-de-
24 l'Aigle
(APP
option) Pardiac 345.00 346.00 0.38
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DL08- Mont-de-
25 l'Aigle
(APP
option) Pardiac 50.78 55.65 4.87 0.31
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DL08- Mont-de-
25 l'Aigle
(APP
option) Pardiac 220.00 221.50 1.50 0.70
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DL08- Mont-de-
25 l'Aigle
(APP
option) Pardiac 236.00 238.00 2.00 0.37
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DL08- Gasse -
27 Lemieux Guillaume 10.20 22.65 12.45 0.86 2.00
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DL08- Gasse -
27 Lemieux Guillaume 31.27 33.00 1.73 0.25
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DL08- Gasse -
27 Lemieux Guillaume 74.00 75.00 1.00 0.36
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DL08- Gasse -
27 Lemieux Guillaume 148.50 152.50 4.00 1.12 1.10
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DL08- Mont-de-
28 l'Aigle
(APP
option) Frenette 85.38 87.00 1.62 1.44
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DL08- Mont-de-
28 l'Aigle
(APP
option) Frenette 85.38 89.00 3.62 0.90
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DL08- Mont-de-
28 l'Aigle
(APP
option) Frenette 102.00 102.81 0.81 0.94
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DL08- Mont-de-
28 l'Aigle
(APP
option) Frenette 195.36 196.00 0.64 0.97
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DL08- Brandy
30 Vital Sud 69.50 72.00 2.50 0.92 0.15 0.03 5.76
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DL08- Brandy
30 Vital Sud 125.46 126.00 0.54 3.06
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DL08- Brandy
30 Vital Sud 172.65 173.50 0.85 2.22 0.22 0.03
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DL08- Brandy
30 Vital Sud 186.32 191.32 5.00 2.37 1.54
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DL08- Brandy
30 Vital Sud 198.93 199.67 0.74 1.11
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DL08- Brandy
30 Vital Sud 212.50 214.50 2.00 3.44 0.31
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DL08- Brandy
30 Vital Sud 217.95 218.87 0.92 5.63 1.68
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DL08- Brandy
31 Vital Sud 60.50 60.80 0.30 3.75 2.02 0.01 6.50
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DL08- Brandy
31 Vital Sud 117.00 118.00 1.00 1.90 0.15 0.02 2.30
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DL08- Brandy
31 Vital Sud 170.32 174.46 4.14 1.19 0.44 0.03 3.25
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DL08- Brandy
31 Vital Sud 176.61 178.06 1.45 1.57 1.87
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DL08- Brandy
31 Vital Sud 184.20 185.18 0.98 3.15 0.23 0.02 1.50
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DL08- Brandy
31 Vital Sud 214.14 215.60 1.46 0.10 8.49 3.98 0.01 10.70
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DL08- Brandy
32 Vital Sud 49.68 50.53 0.85 2.40 0.48 2.03
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DL08- Brandy
32 Vital Sud 53.57 60.00 6.43 0.46 0.96 2.68
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DL08- Brandy
32 Vital Sud 144.47 144.95 0.48 1.27 0.42 0.05 1.20
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DL08- Brandy
32 Vital Sud 179.93 180.62 0.69 4.55 5.10 0.01 24.60
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DL08- Brandy
32 Vital Sud 191.00 191.42 0.42 0.30 3.77 1.79 0.05 3.90
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DL08- Brandy
32 Vital Sud 220.00 220.50 0.50 1.95
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DL08- Brandy
32 Vital Sud 227.50 228.25 0.75 3.22 1.34 0.02 4.20
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DL08- Brandy
33 Vital Sud 13.50 14.50 1.00 0.33 2.11 1.01 0.03 539.00
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DL08- Brandy
33 Vital Sud 8.70 29.54 20.84 1.91 0.41 0.03 28.14
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DL08- Brandy
33 Vital Sud 36.93 37.50 0.57 1.43 0.15 0.01 2.10
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DL08- Brandy
33 Vital Sud 40.78 42.00 1.22 3.48 1.17 2.60
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DL08- Brandy
33 Vital Sud 48.00 49.35 1.35 1.23 1.10
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DL08- Brandy
33 Vital Sud 63.16 65.20 2.04 4.30 0.99 0.08 8.43
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DL08- Brandy
33 Vital Sud 72.44 74.79 2.35 2.97 2.76 0.02 5.42
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DL08- Brandy
33 Vital Sud 91.67 93.00 1.33 9.55 4.67 1.64 20.20
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DL08- Brandy
33 Vital Sud 91.00 103.00 12.00 3.15 1.03 0.22 5.22
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DL08- Brandy
33 Vital Sud 142.18 143.00 0.82 1.75 0.40
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DL08- Mont-de-
35 l'Aigle
(APP
option) Frenette 21.50 22.00 0.50 0.74
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DL08- Mont-de-
35 l'Aigle
(APP
option) Frenette 102.46 103.50 1.04 0.56
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DL08- Mont-de-
35 l'Aigle
(APP
option) Frenette 132.50 133.50 1.00 0.65
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DL08- Mont-de-
35 l'Aigle
(APP
option) Frenette 135.77 136.72 0.95 0.22
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DL08- Mont-de-
35 l'Aigle
(APP
option) Frenette 231.84 232.50 0.66 0.38
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DL08- Mont-de-
36 l'Aigle
(APP Eagle-
option) Gaspesie 62.00 87.00 25.00 0.22
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DL08- Mont-de-
36 l'Aigle
(APP Eagle-
option) Gaspesie 111.66 113.74 2.08 1.01
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DL08- Mont-de-
36 l'Aigle
(APP Eagle-
option) Gaspesie 121.35 122.20 0.85 3.89
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DL08- Mont-de-
36 l'Aigle
(APP Eagle-
option) Gaspesie 118.50 124.23 5.73 0.83
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DL08- Mont-de-
36 l'Aigle
(APP Eagle-
option) Gaspesie 129.50 130.50 1.00 0.62
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DL08- Mont-de-
36 l'Aigle
(APP Eagle-
option) Gaspesie 230.50 231.65 1.15 0.65
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DL08- Mont-de-
36 l'Aigle
(APP Eagle-
option) Gaspesie 234.50 237.38 2.88 0.41
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DL08- Mont-de-
37 l'Aigle
(APP Eagle-
option) Gaspesie 46.55 47.50 0.95 1.47
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DL08- Mont-de-
37 l'Aigle
(APP Eagle-
option) Gaspesie 52.00 57.89 5.89 0.44
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DL08- Mont-de-
37 l'Aigle
(APP Eagle-
option) Gaspesie 120.00 121.74 1.74 0.35
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DL08- Mont-de-
37 l'Aigle
(APP Eagle-
option) Gaspesie 128.00 129.00 1.00 0.60
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DL08- Mont-de-
38 l'Aigle Ruisseau
(APP de l'
option) anomalie 60.83 61.70 0.87 0.31
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DL08- Mont-de-
38 l'Aigle Ruisseau
(APP de l'
option) anomalie 165.72 231.17 1.40 0.57
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DL08- Mont-de-
39 l'Aigle
(APP
option) Hattie 96.00 99.00 3.00 2.12
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DL08- Mont-de-
39 l'Aigle
(APP
option) Hattie 113.62 114.50 0.70 1.40
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(i) length of drill core intercept


The results obtained confirm those from the first diamond drill program completed in 2007 while successfully testing the extension and continuity of the structural zones at Dionne - Cobalt - Veronique, Pardiac - Elizabeth-Leclerc and Brandy South. The fault structure responsible for the mineralization at Brandy South can be traced northward on the western side of the Brandy Brook where numerous untested copper occurrences have been located on surface. Some 2 km to the NNW and along the Big Pioneer Zone drilled in 2007, copper enrichment is now interpreted to coincide with the presence of cross cutting faults of this N-S system. Brandy South produced the highest precious metals values with silver grading up to 539 g/t over 1.0m and gold 1.64 g/t over 1.33m. Significant copper grades were obtained on Appalaches' Mont-de-l'Aigle with 2.12 % Cu over 3 metres on Hattie, 0.44% over 5.89 metres, 0.83% Cu over 5.73m and 0.22% Cu over 25.0 m on Eagle - Gaspesie. Orientation drilling on Eagle - Gaspesie has resulted in better defining the characteristics and orientation of the copper mineralization and also provided the necessary structural information to orient further drilling.

The 2007 drilling and core logging were conducted under the supervision of geologists Emilie Tremblay-Paquet and Bernard-Olivier Martel. Drill core sample analysis were 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. A total of 1670 samples were sent for assaying in the course of the current program. Samples with more than10 000 ppm were systematically re-analysed by ICP.

The program was successful in testing the lateral continuity of the mineralized zones and also helped in identifying potential confining layers that would have acted as a cap rock preventing mineralizing solutions from migrating vertically outside of the well-defined fault corridors. These layers would help explain the apparent lack of mineralization in the upper stratigraphic levels. Updates were made to the stratigraphic column following this program and these could have a significant impact in targeting skarns, mantos and porphyry-type mineralizations to be tested during upcoming diamond drill programs.

Exploration teams were able to collect some 945 bedrock samples thus providing an adequate sample density to study the alteration patterns over the entire 150km2 property surface. The samples are now being prepared according to specifications prior to shipping. To assist with the interpretation of alteration results, a representative portion of each sample will also be sent to a laboratory for major and trace element analysis.

Reprocessing of the Titan24 survey should be completed shortly and a report is expected upon completion. The reprocessing was deemed necessary considering the advancement in signal processing and imagery techniques since the survey was initially performed by Quantec (http://www.quantecgeoscience.com/) in 2003. Recently, the data from a geophysical survey using CSAMT (Controlled source audio-frequency magnetotelluric) performed in 1991 by the Geological Survey of Canada on a portion of the Dome was obtained. CSAMT surveys are useful in locating disseminated sulphides that may occur at depth in porphyry-type systems. Quantec will also be responsible for data integrity control and reprocessing.

Threegold is pleased with the progress accomplished at the Lemieux Dome Project. Drilling greatly improved the understanding of the mineralized systems, the extension of the structures observed during trenching operations and in providing a better overall comprehension of the stratigraphic column, a key in targeting mineralizations. Reprocessing of both the Titan24 and the CSAMT should provide an insight into the potential at depth while the geochemical survey, first of its kind completed on the Dome, should provide much needed clues into the alteration processes. Results from the geological, geophysical and geochemical surveys will significantly enhance the exhaustive information database compiled on the project and will assist in locating high potential areas and in the development of new exploration models. Threegold's exploration team backed by seasoned geological consultants has greatly improved the geological understanding and mineralization modeling at the Dome which ultimately, will prove useful in targeting unexplored models at the Dome.

Antoine Fournier, geologist and president of the company is the qualified person under NI 43-101 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 the company's website at www.threegold.ca.

Neither 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 the release.

Contact Information

  • Threegold Resources Inc.
    Mr. Antoine Fournier, P.Geo.
    President and Chief Executive Officer
    819-825-3883
    819-825-7545 (FAX)
    info@threegold.ca
    or
    Threegold Resources Inc.
    Mr. Octavio Soares, FCA
    Chief Financial Officer
    418-999-8811
    819-652-8149 (FAX)
    info@threegold.ca
    or
    S.D.N.L. Financial Communication
    Mr. Sylvain Laberge
    Investor Relations
    514-380-5610
    slaberge@sdnlfinancial.com