Welcome to the San Gold HUB on AGORACOM

San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.

Free
Message: San City,,,,,,,,,,,,,,De... grams VS, San 1.21 OZ"

Aug 07, 2008 05:24PM

Aug 07, 2008 05:45PM
1
Aug 07, 2008 06:45PM
3
Aug 07, 2008 07:34PM
1
Aug 07, 2008 08:21PM
2
Aug 07, 2008 11:24PM
2
Aug 08, 2008 01:56AM

Aug 08, 2008 04:58AM

San City,,,,,,,,,,,,,,De... grams VS, San 1.21 OZ"

posted on Aug 08, 2008 06:24AM
Pelangio Advised of Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario (1.83 g/t Over 64.0 Metres and 1.33 g/t Over 78.9 Metres in Gap Zone)
TORONTO, ONTARIO, Aug 6, 2008 (Marketwire via COMTEX) -- (Marketwire)

Pelangio Mines Inc. (TSX:PLG) ("Pelangio") has been advised by Detour Gold Corporation ("Detour Gold") that it has released drill results of 21 holes from the Calcite and Gap Zones of its Phase II drilling program at the Detour Lake property in northern Ontario. Detour Gold started Phase II drilling in July 2007 and thus far has completed 351 holes totaling 137,702 metres (including 29 holes abandoned for 2,401 metres and deepening of 9 holes for 1,439 metres). Prior to the mineral resource update of July 2, 2008, the Company had reported 187 holes totaling 68,428 metres (including 15 holes abandoned for 1,290 metres). There are four (4) active drill rigs on site.

Pelangio has a 44.6% equity interest in Detour Gold (20 million shares). Detour Gold issued a press release today, the verbatim text of which follows:

"Detour Gold Reports Additional Mineralization West of Calcite Zone and Wide Gold Intersections in the Gap Zone of its Detour Lake Project in Northern Ontario (1.83 g/t over 64.0 metres and 1.33 g/t over 78.9 metres in Gap Zone)

Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to report the first drill results since its mineral resource update of July 2, 2008 at the Detour Lake property in northern Ontario. The Company received assays for 21 holes in the Calcite and Gap Zones from its ongoing Phase II drilling program.

The Company started Phase II drilling in July 2007 and thus far has completed 351 holes totaling 137,702 metres (including 29 holes abandoned for 2,401 metres and deepening of 9 holes for 1,439 metres). Prior to the mineral resource update, the Company had reported 187 holes totaling 68,428 metres (including 15 holes abandoned for 1,290 metres). There are four (4) active drill rigs on site.

Results from an additional 11 holes drilled at the western end of the Calcite Zone are indicating additional gold mineralization within the US$700 pit shell, which will positively impact the final pit design (lower strip ratio) and resource base. Of importance, significant gold mineralization was encountered at the contact between the massive and pillow flows in holes DG-08-321 with 1.21 g/t over 47.0 metres and DG-08-326 with 1.37 g/t (cut) over 32 metres on section 18,020E, and in holes DG-08-313 with 1.43 g/t (cut) over 38.0 metres and DG-08-318 with 2.54 g/t (cut) over 19.0 metres on section 18,060E.

Detour Gold received results from 10 holes drilled in the Gap Zone (between sections 18,920E and 19,240E), mostly testing the extent of the mineralized corridor to the north (hanging wall). Results continue to show excellent continuity of the gold mineralization within the core of the corridor, especially along the lower massive and pillow flow contact.

The best mineralized (uncut) intervals encountered are shown below.

Click here for additional information

Approximately 7,770 metres remain to be drilled for the Phase II program which will total nearly 143,000 metres (initially planned for 135,000 metres). The Phase III program of 30,000 metres is underway with approximately 3,970 metres completed as of the end of July 2008.

On July 2, 2008, Detour Gold reported a mineral resource update based on a detailed engineered pit design using a preliminary mine schedule at a mining rate of 30,000 tpd operation for the first few years and increasing to 60,000 tpd thereafter. The base case reported (using a gold price of US$700 per ounce) contained 10.8 million ounces of gold in the measured and indicated categories and 2.4 million ounces of gold in the inferred category (refer to press release dated July 2, 2008).

Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or http://www.detourgold.com/s/LatestDr... or on the home page "Explore Detour Lake".

Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information.

Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold ( greater than 5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control ("QA/QC"), refer to the press release dated April 11, 2007.

Click here for additional 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"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding: the Company's planned drilling program and estimate of the quantity and quality of its mineral resources. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties involved in interpreting geological data and other risks involved in the gold exploration and development industry as well as those risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR.

Readers are cautioned that the list of factors included in the AIF is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the following assumptions: the Company's exploration and development activities on the Detour Lake Property will proceed in accordance with the Company's current timetables; and the Company's resource estimates, geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources) and operational and price assumptions on which the resource estimates are based, are accurate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company'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. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

Information Concerning Estimates of Mineral Resources

This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises

1
Aug 08, 2008 07:39AM

Aug 08, 2008 07:43AM
1
Aug 08, 2008 07:56AM

Aug 08, 2008 08:06AM

Aug 08, 2008 08:18AM
1
Aug 08, 2008 08:33AM
1
Aug 08, 2008 09:17AM

Aug 08, 2008 09:21AM

Aug 08, 2008 09:33AM
1
Aug 08, 2008 09:34AM

Aug 08, 2008 09:35AM

Aug 08, 2008 09:37AM
1
Aug 08, 2008 09:54AM
1
Aug 08, 2008 10:23AM
1
Aug 11, 2008 09:45AM
Share
New Message
Please login to post a reply