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 over 7.0 m |
9.09 g/t over 22.0 m |
5.01 g/t over 10.0 m
1.43 g/t over 38.0 m |
3.44 g/t over 18.0 m
2.81 g/t 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 over 8.0 m |
2.06 g/t over 29.5 m |
1.33 g/t over 78.9 m |
1.83 g/t over 64.0 m |
|
16.73 g/t over 9.8 m |
1.38 g/t over 49.0 m |
|
|
9.89 g/t over 12.0 m |
3.60 g/t 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
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 (>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.
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
Detour Lake Project - Highlights of Drill Results
Hole No. |
Section No. |
From
(m) |
To
(m) |
Length (m) |
Au
Uncut
(g/t) |
Au
Cut to 20 g/t
(g/t) |
Host Rock Unit |
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 Flow |
(Calcite 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 Zone) |
|
Inc. 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 Zone) |
|
Inc. 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 Zone) |
|
Inc. 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 Zone) |
|
Inc. 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.
|