Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the
"Company") is pleased to report that today it has filed on SEDAR
(www.sedar.com) the independent NI 43-101 compliant Technical Report on
the Detour Lake Project. The report is also available on the Company's
website.
On December 11, 2007, Detour Gold had announced the results of the
mineral resource estimate for the project, which was defined as follows:
Detour Lake Mineral Resource Estimate
(using US$575/oz gold price, cutoff of 0.64 g/t Au)
Resource
Category
|
Tonnes
(millions)
|
Grade Capped
at 20 g/t Au
(g/t Au) |
Gold Ounces
(capped)
(000’s) |
Measured |
19.7 |
1.93 |
1,221 |
Indicated |
70.2 |
1.60 |
3,610 |
Total (M&I) |
89.9 |
1.67 |
4,831 |
Inferred |
63.3 |
1.49 |
3,025 |
The resource estimate is based on the concept of a large-scale open pit
operating at a rate of approximately 20,000 tonnes per day. All mineral
resources are contained within a Lerchs Grossman optimized pit shell
using mine cost parameters (see below) to generate a preliminary in-pit
mineral resource that Detour Gold believes can be economically
extracted. Pit walls are projected at 50 degrees. Current projection
of the strip ratio is 6.1:1, based on the cut-off grade of 0.64 g/t
gold. The mineral resources within the pit are estimated assuming a
minimum five (5) metre mining width. Gold assays are capped at 20 g/t.
Assumed costs to establish the cut-off grade, based on a gold price of
US$575 per ounce, are $8.25/t for milling, $1.75/t for ore mining,
$1.50/t for waste mining and $2.00/t for general and administration
(G&A), with mill recoveries of 91%. All the projected cost and
recovery figures should be considered preliminary and subject to a high
degree of risk.
Conclusions of the Report
Watts, Griffis and McOuat Limited ("WGM") was retained by Detour Gold to
review and verify Thon Consulting ("Thon") mineral resource estimate
and document the study in an independent NI 43-101 compliant technical
report.
Based on WGM review, the Detour Lake project shows excellent potential
for a large open pit mine. The Phase II drilling of approximately
110,000 m is expected to expand the current mineral resource. The
exploration potential in surrounding areas is very good, particularly to
the west of the Calcite Zone, and the mineralized corridor has
potential to be widened to the north. To the east of the pit,
geological mapping indicates a possibility of mineralization along the
Sunday Lake Deformation Zone, and other areas of interest include the
Block A, M Zone and North Walter Lake Zone. WGM believes that once all
of the results have been received from the Phase II drill program, the
categorization of the mineral resources can be improved in an updated
block model.
WGM also concluded that the assay and QA/QC procedures and protocols
being carried out by Detour Gold site personnel, Thon and Analytical
Solutions Ltd. for Detour Gold are resulting in the highest quality
unbiased gold assays.
The content of this news release was reviewed by Mr. Roger Aubertin,
P.Eng., the Qualified Person for the Detour Lake Project and by Michael
W. Kociumbas, P.Geo, Vice President of WGM.
For further information, please contact:
Gerald Panneton, President and CEO
Tel: (416) 304.0800
Laurie Gaborit, Director Investor Relations
Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street,
Suite 2040, Toronto, Ontario M5J 2J1
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