SOURCE: Trek Mining Inc.

Trek Mining Inc.

May 17, 2017 07:30 ET

Trek Mining Confirms Extension of Piaba Gold Deposit

300 Metre Step-out Hole Intersects 3.90 Grams per Tonne Gold Over 11.0 Metres

VANCOUVER, BC--(Marketwired - May 17, 2017) - Trek Mining Inc. (TSX VENTURE: TREK) ("Trek" or "the Company") is pleased to announce that initial drilling in Piaba West has intersected 3.90 grams per tonne gold ("g/t Au") over 11.0 metres in a step-out drill hole located 300 metres along strike of the currently defined Piaba gold deposit at its 100%-owned Aurizona Gold Mine ("Aurizona") in Brazil. Results from the initial 18 shallow holes totalling 1,594 metres have successfully demonstrated that significant gold mineralization persists below the shallow, westernmost reserve pit and that the Piaba gold deposit extends along strike at least 300 metres to the west.

Drilling highlights include:

  • 3.90 g/t Au over 11.0 m in BRAZP575
  • 1.95 g/t Au over 4.0 m and 2.17 g/t Au over 5.0m in BRAZP580
  • 28.16 g/t Au over 4.0 m including 112 g/t over 1.0 m in BRAZP582
  • 2.63 g/t Au over 9.0 m in BRAZP572
  • 0.99 g/t Au over 15.0 m in BRAZP571
  • 1.22 g/t Au over 33.0 m including 2.27 g/t Au over 11.0 m in BRAZP569

"Encountering ore grade intercepts along strike is exactly the result we were looking for," said Scott Heffernan, EVP Exploration of Trek. "Drilling at Piaba West is ongoing and will further test the continuity of mineralization along strike from current gold reserves in the Piaba gold deposit."

Drill hole BRAZP575, located 300 metres beyond the westernmost edge of the existing Piaba pit, encountered 3.90 g/t Au over 11.0 metres from 49 metres down hole. BRAZP576 was collared a further 100 metres west of BRAZP575 and ended in mineralization grading 0.71 g/t gold over 6.0 metres at a depth of 110 metres, indicating that mineralization continues for an additional 100 metres along strike but may dip to the southwest.

  • For a complete table of the Company's 2017 exploration drill results to date, click here
  • For a map showing the Company's 2017 exploration drill holes and highlight results to date, click here

"These initial results support our expectation that the Piaba gold deposit continues at depth and along strike to the west," said Christian Milau, CEO of Trek. "Successful infill drilling below the western end of the pit and in the identified extension should lead to an increase in Aurizona gold resources and an extension of the mine life."

Current gold reserves at Aurizona are contained primarily within the Piaba gold deposit which remains open along strike and to depth. Piaba West is a potential 900-metre long extension of the Piaba gold deposit and is the first of several near-mine targets to be drilled as part of the Company's planned 30,000-metre 2017 exploration program at Aurizona. Trek's immediate priority is to follow the mineralization along strike and down plunge, and to increase drill hole density below the western edge of the current reserve pit and the initial 300-metre extension. An additional 600 metres of westerly strike will be tested upon receipt and interpretation of a recently completed 38,000 line-km airborne magnetic and radiometric survey.

Invitation to Trek Mining Open House

Trek is hosting an open house at its office in Vancouver at the end of May, providing an opportunity for existing and potential investors to meet Trek's executive team and discuss ongoing activities at the Company's portfolio of projects. If you would like to attend, please RSVP by May 22 to Rhylin Bailie by phone at +1 604-260-0516 or by email at rhylin.bailie@trekmining.com.

   
When: Sunday, May 28 from 4-6pm
  Monday, May 29 from 4-6pm
Where: Suite 730, 800 West Pender St., Vancouver
RSVP: +1 604-260-0516 or rhylin.bailie@trekmining.com
   

On behalf of the Board of Trek Mining Inc.

"Christian Milau"

CEO & Director

About the Aurizona Gold Mine

The current reserve and resource model for Aurizona outlines a 6.5-year mine life based on reserves identified in the Piaba and Boa Esperança pits. Gold mineralization is structurally controlled by subvertical, strike-slip shear zones occurring along significant lithological contact between metavolcano-sedimentary units and intrusive rocks. Host rocks are hydrothermally altered quartz diorite and plagioclase-quartz diorite rocks. The mineralization style is disseminated stockwork and vein-hosted sulphides and gold within a silicified shear zone. Gold mineralization at Piaba West is hosted in a northern, hanging wall sequence composed mainly of diorite and quartz diorite intrusives with subordinate dacitic volcanics. Additional information about Aurizona is available in the September 2016 "Pre-feasibility Study on Aurizona Mine Project, Maranhão, Brazil, NI 43-101 Technical Report" that is available on the Company's website and on SEDAR at www.sedar.com.

About Trek Mining Inc.

Trek is a Canadian mining company with a portfolio of production, near-production and exploration-stage projects in North and South America. The Company is producing gold from its Koricancha Mill, a custom-built gold and silver ore processing facility in Peru, and is completing a feasibility study for its past-producing Aurizona Gold Mine in Brazil, with the objective of pouring gold at Aurizona by the end of 2018. Trek's exploration properties include both near-mine and district exploration opportunities at Aurizona; the Warintza project, a porphyry copper-molybdenum exploration project in Southeastern Ecuador; the Ricardo project, a porphyry copper-molybdenum exploration project in Chile; and Elk Gold, a past-producing high-grade gold mine in British Columbia, Canada. Further information about Trek's business strategy and portfolio of assets is available at www.trekmining.com or by email at ir@trekmining.com.

Qualified Person and Disclosure Statement

Scott Heffernan, M.Sc., P.Geo., the Company's EVP Exploration and Qualified Person under National Instrument 43-101, has reviewed and verified that the technical information contained in this news release is accurate and approves the written disclosure of the same. Drill composites were calculated using cut-off values of 0.3 g/t, 1.0 g/t or 5.0 g/t gold as specified in the drill table and contain no more than 3 metres of internal waste. Drill intersections are calculated using uncut assays and are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be 60 to 90 percent of the reported lengths. All samples were submitted to ALS Chemex in Belo Horizonte, Brazil for sample preparation. Sample pulps were then sent to ALS Chemex in Lima, Peru for geochemical analysis for gold by fire assay of a 30-gram charge with an Atomic Absorption finish (AA) and for a 33 multi-element geochemical suite by 4-acid digestion and Inductively-Coupled Mass Spectrometry (ICP-MS). Samples with AA gold values over 5.0 g/t are re-assayed using a Gravimetric Finish (Grav). Control samples (accredited standards, blanks and duplicate samples at the field and preparation stages) were inserted on a regular basis. Results were monitored upon receipt of assays.

Cautionary Notes

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

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will", "should", "could", "expected" and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include statements regarding planned exploration activities and drill results at Aurizona, and the anticipated restart of production at Aurizona. Although Trek believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Trek can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Trek's periodic filings with Canadian securities regulators, and assumptions made with regard to: the anticipated results of exploration activities at Aurizona; whether exploration activities will lead to an increase in Aurizona resources and an extension of the Aurizona mine life; the anticipated results of the feasibility study for Aurizona; the anticipated Board of Directors decision to approve construction of the Aurizona mine; the ability to raise the capital required to fund construction and development of Aurizona; the ability to restart production at Aurizona; and timing of the anticipated restart of production. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Trek does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

Contact Information

  • Trek Mining Contacts
    Christian Milau
    Chief Executive Officer
    Rhylin Bailie
    Vice President Investor Relations
    Tel: +1 604-558-0560
    Email: ir@trekmining.com