Threegold Resources Inc.: New Gold Trend Extended Using Final Results From The Adanac Project (2010-02-17)

VAL-D'OR, QUEBEC, CANADA, Feb. 17, 2010 (Marketwire) -- Threegold Resources Inc. (TSX VENTURE:THG) is pleased to announce that the new Adanac gold trend discovered in the fall of 2009 has been extended another 480 metres to a total known length of 1.4 kilometres, and is still open along strike and at depth. Strongly anomalous zinc results were also obtained in several drill holes along the corridor. Results from the 2009 program will be used to plan the next phase of exploration on the project.

The final results for the 2009 program come from thirteen (13) diamond drill holes that probed the eastern projection of the new gold corridor (see press release of January 18, 2010) and the southern portion of the property. Holes TAD09-11 and TAD09-13 encountered highly anomalous gold values (see Table 1), and zinc assays from several other holes demonstrated the project's additional strong base metal potential (see Table 2).

Table 1 - Summary of gold results from the fall Adanac drilling program

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Hole #          From     To   Length(i)    Au
                (m)      (m)     (m)     (g/t)
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TAD-09-11      176.0   177.0     1.0      0.12
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               180.0   181.1     1.1      0.12
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               208.0   208.3     0.3      0.15
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               227.0   228.0     1.0      0.17
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               229.0   232.8     3.8      0.28
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               236.8   242.0     5.2      0.37
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               251.3   252.4     1.1      0.18
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TAD09-13        32.0    33.0     1.0      0.17
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                36.0    37.0     1.0      0.19
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               122.2   123.0     0.8      0.21
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               125.0   125.5     0.5      0.24
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(i) drill intercept length

Table 2 - Summary of zinc results from the fall Adanac drilling program

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Hole #          From     To   Length(i)    Zn
                (m)      (m)     (m)       (%)
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TAD09-05      66.50    74.00    6.50      0.24
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              79.70    99.50   11.80      0.25
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             103.70   106.50    2.80      0.69
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             119.00   121.00    2.00      0.15
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             133.00   139.70    6.70      0.18
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             140.20   143.00    2.80      0.24
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             148.00   156.00    8.00      0.29
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TAD09-06      36.00    36.90    0.90      0.43
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              44.55    45.00    0.45      1.80
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              46.05    46.55    0.50      0.11
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              50.30    51.30    1.00      0.31
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              54.15    55.75    1.60      0.38
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             181.45   181.85    0.40      0.16
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TAD09-07      82.00    87.00    5.00      0.12
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              90.00   100.00   10.00      0.11
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TAD09-08      43.65    46.30    2.65      0.58
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              76.80    77.05    0.25      0.37
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             103.00   103.35    0.35      0.23
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             104.35   105.10    0.75      0.11
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TAD09-09      64.25    67.45    3.20      0.32
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              68.60    68.90    0.30      0.17
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              70.65    76.65    6.00      0.25
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              77.65    78.25    0.60      0.26
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              79.30    84.25    4.95      0.18
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              85.00    88.20    3.20      0.27
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              88.65    90.95    2.30      0.22
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              93.60    94.65    1.05      0.18
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             101.05   101.40    0.35      0.39
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             110.00   111.00    1.00      0.12
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TAD09-19     190.90   191.45    0.55      0.12
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             192.35   193.20    0.85      0.58
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             195.00   195.75    0.75      0.76
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             196.15   196.55    0.40      0.84
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(i) drill intercept length

The company is very pleased with the results of its first diamond drilling program on the project, which led to the discovery of the new 1.4-km-long gold corridor just 200 metres south of the former Adanac mine. The 2009 drilling program successfully validated targets identified by the technical team, and proved the usefulness of combining soil geochemistry and geophysical modelling to discover new gold zones in a well-established mining camp.

Three different but gradational styles of mineralization have been observed along the new Adanac corridor, characterized by a quartz-hosted pyritic system in the west, a pyrrhotite-pyrite base-metal system in the centre, and an arsenopyrite-pyrite quartz-rich system in the east. Additional work will soon be carried out to better understand the nature and distribution of the mineralization, and to evaluate areas where higher gold grades might occur.

The new gold trend appears as a structurally complex deformation corridor within clastic metasedimentary rocks of the Pontiac Group, characterized by fractured and boudinaged quartz veins and veinlets. Pyrite and pyrrhotite, with lesser chalcopyrite and sphalerite, are present in the foliated rocks and in fractures within grey and white quartz in quantities ranging from trace amounts to semi-massive concentrations. Sericite alteration is ubiquitous within the sheared rocks, and fuchsite and biotite have been observed locally. The first nine (9) holes initially traced the mineralized corridor over a strike length of 920 metres. The continuity of the newly extended 1.4-km zone, as well as its vertical reach, will be tested by additional drilling.

The 2009 diamond drill program was carried out under the supervision of Antoine Fournier, P. Geo. and president of the company. Gold analysis was performed by Techni-Lab S.G.B. Abitibi Inc. using fire assay and atomic absorption (AA) on 30-gram fractions from half-split drill core samples. Duplicates, blanks and gold standards were inserted at regular intervals according to Threegold's quality control protocol.

 

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ABOUT THREEGOLD

Threegold Resources is a dynamic and active Quebec-based junior explorer with a diversified property portfolio. Threegold is pursuing exploration on three main projects in Quebec: Lemieux Dome on the Gaspe Peninsula for copper, zinc, lead, silver and gold; Mercier in the Abitibi region where the company recently made a rare earth element discovery with base and rare metals (see press release of August 6, 2009); and Adanac, a gold property located a few kilometres from downtown Rouyn-Noranda.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.