Global measured and indicated mineral resources of 20.5 million ounces (inclusive of mineral reserves)
Advancing North America's 4th Largest Gold Reserves Towards Development
Message: Detour Gold Reports Additional Mineralization West of Calcite Zone and Wide Gol
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)
TORONTO, ONTARIO -- (Marketwire) -- 08/06/08 -- 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.
Calcite Zone
--------------------------------------------------------------------------
DG-08-292 DG-08-302 DG-08-313 DG-08-318
--------- --------- --------- ---------
10.12 g/t 9.09 g/t 5.01 g/t 3.44 g/t
over 7.0 m over 22.0 m over 10.0 m over 18.0 m
1.43 g/t 2.81 g/t
over 38.0 m over 19.0 m
DG-08-321
---------
3.94 g/t
over 16.0 m
1.21 g/t
over 47.0 m
Gap Zone
--------------------------------------------------------------------------
DG-08-286 DG-08-308 DG-08-337 DG-08-315
--------- --------- --------- ---------
12.85 g/t 2.06 g/t 1.33 g/t 1.83 g/t
over 8.0 m over 29.5 m over 78.9 m over 64.0 m
16.73 g/t 1.38 g/t
over 9.8 m over 49.0 m
9.89 g/t 3.60 g/t
over 12.0 m over 37.0 m
DG-08-320
---------
1.90 g/t
over 38.0 m
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.
Detour Lake Project - Highlights of Drill Results
--------------------------------------------------------------------------
Hole No. Section From To Length Au Au Host Rock
No. (m) (m) (m) Uncut Cut to Unit
(g/t) 20 g/t
(g/t)
--------------------------------------------------------------------------
DG-08-286 19,040E 16.2 26.0 9.8 1.76 1.76
--------------------------------------------------------------
(Gap Zone) 70.0 77.0 7.0 1.04 1.04
--------------------------------------------------------------
341.0 348.0 7.0 1.27 1.27
--------------------------------------------------------------
398.0 406.0 8.0 12.85 2.16 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
398.0 398.5 0.5 191.02 20.00
--------------------------------------------------------------
422.0 432.0 10.0 1.15 1.15
--------------------------------------------------------------
442.0 462.0 20.0 1.31 1.31 Lower Mafic
Flow
--------------------------------------------------------------
493.0 529.0 36.0 0.74 0.74 Lower Mafic
Flow
--------------------------------------------------------------------------
DG-08-292 18,060E 237.0 244.0 7.0 10.12 3.05 CMH
(Calcite --------------------------------------------------------------
Zone) Inc.
240.0 241.0 1.0 69.52 20.00
--------------------------------------------------------------------------
DG-08-296 17,980E 207.0 215.0 8.0 1.65 1.65
(Calcite --------------------------------------------------------------
Zone) 281.0 288.0 7.0 1.23 1.23
--------------------------------------------------------------
299.0 312.0 13.0 1.39 1.39
--------------------------------------------------------------------------
DG-08-302 17,940E 77.0 99.0 22.0 9.09 0.99 Lower Mafic
(Calcite Flow
Zone) --------------------------------------------------------------
Inc.
96.5 97.0 0.5 376.39 20.00
--------------------------------------------------------------
133.0 140.0 7.0 1.64 1.64
--------------------------------------------------------------
369.0 380.0 11.0 0.92 0.92
--------------------------------------------------------------------------
DG-08-308 19,080E 39.0 58.0 19.0 0.68 0.68
(Gap Zone) --------------------------------------------------------------
177.0 203.0 26.0 0.80 0.80
--------------------------------------------------------------
252.0 275.0 23.0 1.23 1.23 Lower Pillow
Flow
--------------------------------------------------------------
347.0 359.0 12.0 1.39 1.39
--------------------------------------------------------------
372.5 402.0 29.5 2.06 2.06 Lower Pillow
Flow
--------------------------------------------------------------
413.0 422.0 9.0 3.80 3.80 Mafic Flow
--------------------------------------------------------------
438.0 445.0 7.0 1.18 1.18
--------------------------------------------------------------
459.2 469.0 9.8 16.73 2.55 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
466.0 466.5 0.5 22.45 20.00
--------------------------------------------------------------
Inc.
466.5 467.0 0.5 295.63 20.00
--------------------------------------------------------------
489.0 501.0 12.0 9.89 7.18 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
491.0 492.0 1.0 28.80 20.00
--------------------------------------------------------------
Inc.
492.0 493.0 1.0 26.40 20.00
--------------------------------------------------------------
Inc.
494.0 495.0 1.0 37.30 20.00
--------------------------------------------------------------------------
DG-08-312 19,120E 216.0 227.0 11.0 0.98 0.98
(Gap Zone) --------------------------------------------------------------
490.0 500.0 10.0 0.85 0.85
--------------------------------------------------------------
516.0 530.0 14.0 0.77 0.77
--------------------------------------------------------------
569.0 576.0 7.0 1.73 1.73
--------------------------------------------------------------------------
DG-08-313 18,060E 224.0 234.0 10.0 5.01 3.27 Upper Mafic
Flow
--------------------------------------------------------------
(Calcite Inc.
Zone) 225.0 225.5 0.5 54.84 20.00
--------------------------------------------------------------
275.0 283.0 8.0 1.39 1.39
--------------------------------------------------------------
317.0 355.0 38.0 1.43 1.43 Lower Pillow
Flow
--------------------------------------------------------------
364.0 371.0 7.0 1.16 1.16
--------------------------------------------------------------------------
DG-08-315 19,160E 97.0 108.2 11.2 1.06 1.06
--------------------------------------------------------------
(Gap Zone) 152.0 167.0 15.0 1.13 1.13
--------------------------------------------------------------
180.0 189.0 9.0 0.97 0.97
--------------------------------------------------------------
313.0 325.0 12.0 0.91 0.91
--------------------------------------------------------------
342.0 406.0 64.0 1.83 1.73 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
369.0 370.0 1.0 26.70 20.00
--------------------------------------------------------------
436.0 443.0 7.0 1.10 1.10
--------------------------------------------------------------
453.0 471.0 18.0 1.12 1.12
--------------------------------------------------------------
482.0 489.0 7.0 2.28 2.28
--------------------------------------------------------------------------
DG-08-318 18,060E 316.0 323.5 7.5 1.69 1.69
--------------------------------------------------------------
(Calcite
Zone) 335.0 353.0 18.0 3.44 1.93 Lower MF/PF
--------------------------------------------------------------
394.0 413.0 19.0 2.81 2.54 Lower Mafic
Flow
--------------------------------------------------------------
Inc.
411.0 411.5 0.5 30.28 20.00
--------------------------------------------------------------------------
DG-08-320 19,040E 91.0 111.0 20.0 0.80 0.80
--------------------------------------------------------------
(Gap Zone) 333.0 352.0 19.0 1.05 1.05
--------------------------------------------------------------
400.0 413.0 13.0 0.71 0.71
--------------------------------------------------------------
475.0 487.0 12.0 1.21 1.21
--------------------------------------------------------------
528.0 544.0 16.0 2.47 2.46 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
529.0 530.0 1.0 20.10 20.00
--------------------------------------------------------------
553.0 560.0 7.0 1.23 1.23
--------------------------------------------------------------
583.0 621.0 38.0 1.90 1.52 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
614.5 615.5 1.0 33.36 20.00
--------------------------------------------------------------
Inc.
620.0 620.5 0.5 22.27 20.00
--------------------------------------------------------------------------
DG-08-321 18,020E 165.0 172.0 7.0 4.95 3.40 Upper Mafic
Flow
--------------------------------------------------------------
(Calcite Inc.
Zone) 168.0 169.0 1.0 30.86 20.00
--------------------------------------------------------------
183.0 199.0 16.0 3.94 2.58 Pillow Flow
--------------------------------------------------------------
Inc.
189.0 190.0 1.0 41.70 20.00
--------------------------------------------------------------
312.0 330.0 18.0 0.69 0.69
--------------------------------------------------------------
360.0 377.0 17.0 1.94 1.94
--------------------------------------------------------------
393.0 440.0 47.0 1.21 1.21 Lower Pillow
Flow
--------------------------------------------------------------------------
DG-08-322 19,200E 125.0 138.0 13.0 0.85 0.85
--------------------------------------------------------------
(Gap Zone) 160.0 172.0 12.0 0.83 0.83
--------------------------------------------------------------
329.0 346.0 17.0 1.58 1.58 Mafic Flow
--------------------------------------------------------------
366.5 379.0 12.5 1.60 1.60
--------------------------------------------------------------
389.0 397.0 8.0 1.18 1.18
--------------------------------------------------------------
428.0 438.0 10.0 1.00 1.00
--------------------------------------------------------------
457.0 474.0 17.0 1.58 1.58 Lower Pillow
Flow
--------------------------------------------------------------
511.0 518.0 7.0 1.69 1.69
--------------------------------------------------------------------------
DG-08-325 17,980E 192.0 206.0 14.0 1.08 1.08
--------------------------------------------------------------
(Calcite
Zone) 316.0 326.0 10.0 1.98 1.98
--------------------------------------------------------------
362.0 382.0 20.0 1.92 1.92 Lower Pillow
Flow
--------------------------------------------------------------
415.0 429.0 14.0 2.18 2.18 Lower Pillow
Flow
--------------------------------------------------------------------------
DG-08-326 18,020E 42.0 50.0 8.0 1.39 1.39
--------------------------------------------------------------
(Calcite
Zone) 142.0 154.0 12.0 1.42 1.42
--------------------------------------------------------------
210.0 230.0 20.0 1.24 1.24
--------------------------------------------------------------
254.0 269.0 15.0 1.10 1.10
--------------------------------------------------------------
283.0 315.0 32.0 1.37 1.37 Lower Pillow
Flow
--------------------------------------------------------------
329.0 336.0 7.0 1.01 1.01
--------------------------------------------------------------
364.0 383.0 19.0 1.17 1.17 Lower Mafic
Flow
--------------------------------------------------------------------------
DG-08-329 19,240E 11.0 28.0 17.0 0.74 0.74
--------------------------------------------------------------
(Gap Zone) 52.0 64.0 12.0 0.87 0.87
--------------------------------------------------------------
263.0 306.0 43.0 1.09 1.09 Upper Mafic
Flow
--------------------------------------------------------------
317.0 345.0 28.0 0.85 0.85
--------------------------------------------------------------
359.0 366.0 7.0 1.78 1.78
--------------------------------------------------------------------------
DG-08-330 19,000E 53.0 60.0 7.0 5.71 2.87 Upper Mafic
Flow
--------------------------------------------------------------
(Gap Zone) Inc.
54.0 55.0 1.0 39.83 20.00
--------------------------------------------------------------
517.0 528.0 11.0 1.43 1.43
--------------------------------------------------------------------------
DG-08-333 17,980E 175.0 182.0 7.0 3.23 3.07
--------------------------------------------------------------
(Calcite Inc.
Zone) 177.0 178.0 1.0 21.10 20.00
--------------------------------------------------------------
252.0 261.0 9.0 0.89 0.89
--------------------------------------------------------------
374.0 381.0 7.0 2.05 2.05
--------------------------------------------------------------
390.0 400.0 10.0 1.41 1.41
--------------------------------------------------------------------------
DG-08-334 17,940E 267.0 274.0 7.0 2.73 2.73
--------------------------------------------------------------
(Calcite
Zone) 318.0 334.2 16.2 2.49 1.67 Mafic Flow
--------------------------------------------------------------
Inc.
318.0 318.5 0.5 46.34 20.00
--------------------------------------------------------------
363.0 384.0 21.0 1.02 1.02
--------------------------------------------------------------------------
DG-08-337 19,240E 39.0 117.9 78.9 1.33 1.33 Pillow Flow
--------------------------------------------------------------
(Gap Zone) 129.0 148.0 19.0 1.27 1.27
--------------------------------------------------------------
180.0 229.0 49.0 1.38 1.38 Pillow Flow
--------------------------------------------------------------
238.0 245.0 7.0 1.29 1.29
--------------------------------------------------------------
361.0 398.0 37.0 3.60 2.63 Lower PF/MF
--------------------------------------------------------------
Inc.
370.0 370.5 0.5 41.20 20.00
--------------------------------------------------------------
Inc.
370.5 371.0 0.5 40.51 20.00
--------------------------------------------------------------
Inc.
371.0 371.5 0.5 38.57 20.00
--------------------------------------------------------------
Inc.
371.5 372.0 0.5 31.80 20.00
--------------------------------------------------------------
424.0 434.0 10.0 2.07 2.07
--------------------------------------------------------------
520.0 537.0 17.0 1.25 1.25
--------------------------------------------------------------------------
DG-08-338 18,020E 65.0 72.0 7.0 4.25 3.61 Upper Mafic
Flow
--------------------------------------------------------------
(Calcite Inc.
Zone) 65.0 66.0 1.0 24.52 20.00
--------------------------------------------------------------------------
89.0 113.0 24.0 0.83 0.83
--------------------------------------------------------------
130.0 137.0 7.0 1.38 1.38
--------------------------------------------------------------
275.0 282.0 7.0 1.43 1.43
--------------------------------------------------------------
383.0 395.0 12.0 1.91 1.91
--------------------------------------------------------------
DG-08-339 18,920E 200.0 220.0 20.0 1.08 1.08
--------------------------------------------------------------
(Gap Zone)
--------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the table.
True width is estimated to be 65 to 75% of the drilled length.
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 investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Contacts:
Detour Gold Corporation
Gerald Panneton
President and CEO
(416) 304-0800
Detour Gold Corporation
Laurie Gaborit
Director Investor Relations
(416) 304-0581
Website: www.detourgold.com
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