Threegold Commenced Drilling on Mercier Project and Awaits Results on Lemieux Dome (2008-01-15)
VAL-D'OR, QUEBEC--(Marketwire - Jan. 15, 2008) - Threegold Resources Inc. (TSX VENTURE:THG) is pleased to inform its investors that exploration has commenced on its 100% owned Mercier Property with the mobilization of a diamond drillrig in mid-December. The program is designed to target coincident magnetic and geochemical anomalies on the Mercier alkaline intrusive. Phase I of diamond drilling on the Lemieux Dome project was completed with the drilling of 7457 metres.
The Mercier Project is located approximately 175 kilometres ENE of Val-d'Or and consists of 61 designated claims covering 3865 hectares. A well maintained network of forestry roads provides year-round access to the property. The alkaline intrusive was initially discovered in 1966 and sporadic exploration was conducted between 1969 and 1982. A total of 6 diamond drill holes were drilled in the southern portion of the complex and only one was assayed producing anomalous copper values of up to 0.6% Cu.
A due diligence program consisting of a systematic MMI soil geochemical sampling over the complex during the summer of 2007 outlined six areas of anomalous copper, cobalt, nickel anomalies and LREE, niobium (press release November 21 2007). The current drill program will test the coincident magnetic/geochemical anomalies and 3000m of diamond drilling has been budgeted.
Threegold is also pleased to announce that it has completed the Phase I diamond drilling program on its Lemieux Dome Property. The program consisted of shallow diamond drill holes targeting the surface showings at Big Pioneer, Pardiac, Veronique, Vital, Brandy South and Federal. The drillcore is currently being logged at Threegold's Ste-Anne-des-Monts facility and samples are sent to ALS Chemex in Val-d'Or, Quebec for copper, zinc, silver and gold as well as for other major metals. Assay results will be announced upon receipt from the laboratory.
Antoine Fournier, P. Geo. M. Sc. and president of the company is responsible for the technical content of this press release.
Threegold's common shares are listed on the TSX Venture Exchange under the symbol "THG". Investors are invited to visit the new website on Monday, January 21 2008 at threegold.ca.
Threegold's common shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S registration or an applicable exemption from U.S. registration requirements.
For further information, please contact:
Antoine Fournier, P.Geo.
Threegold Resources Inc
Tel.: (819) 825-3883
Fax: (819) 825-7545
Octavio Soares, FCA
Chief Financial Officer
Threegold Resources Inc
Tel.: (418) 999-8811
Fax: (418) 652-8149
S.D.N.L. Financial Communications
Tel: (514) 380-5610
You can also visit our website: threegold.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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