Drilling at Trade Winds Ventures‘ (TWD-V) Block A project in northeastern Ontario, a 50-50 joint-venture with Detour Gold (DGC-T), has returned strong intercepts.
The Block A property covers about 1,326 hectares and is roughly 3.5 km west of Detour Gold’s Detour Lake deposit, along the same geological trend as the former Detour Lake mine. (The Detour Lake mine was operated by Placer Dome and produced 1.8 million ounces of gold between 1983 to 1999.)
Highlights from 69 drill holes (29,756.5 metres) completed between January 5 and May 2 include 1.31 grams gold over 17.5 metres and 2.54 grams gold over 10 metres in the M Zone structural corridor; 2.08 grams gold over 30 metres and 1.43 grams gold over 29 metres in the Foot Wall; and 30.2 grams gold over 0.3 metres in the M Zone, 34.7 grams gold over 1 metre in the footwall and 14.1 grams gold over 1 metre in the hanging wall.
Trade Winds is the operator of the project and the 2011 winter program was focused on infill drilling particularly in large gap areas and exploration drilling.
Placer Dome carried out much of the exploration activity on Block A property from 1993 to 1997 with the ultimate goal of increasing resources for the Detour Lake mine.
Trade Winds started an exploration-diamond drilling program on the Block A property in November 2003, and continuously drill-tested it up to the end of the winter-spring 2007 drill campaign. Exploration activity stopped during 2008 and 2009, but resumed in the winter-spring of 2010 with an 11,565-metre drill program.
The Block A property is on the northern most Abitibi Greenstone Belt in northeastern Ontario, about 200 km northeast of Timmins and 140 km northeast of Cochrane.
At presstime in Toronto Trade Winds was trading at 24.5¢ per share and over the last year has traded in a range of 12¢ and 47.5¢ per share.
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