Trio Gold cuts high-grade in Idaho

Vancouver — A hole drilled by Trio Gold (TGK-V) on its Empire Mine project, a former producer in Custer Cty, Idaho, has returned high-grade copper values.

Though only 30 metres deep, core hole 1 intersected 5.8 metres grading 4.23% copper, including a 1.5-metre section of 13.5% copper. The hole was terminated for budgetary reasons, but Trio intends to deepen it.

The top 18 metres of the hole cut feldspar porphyry, with skarn mineralization encountered in the following 12 metres.

Trio also drilled nine reverse-circulation holes in the centre of the AP pit to test the extent of oxide copper mineralization (results are pending) and extracted a 2.3-tonne surface bulk sample for testing.

Between 1901 and 1942, the Empire mine produced 694,000 tonnes grading 3.6% copper, plus 53.8 grams silver and 1.6 grams gold per tonne.

Drilling by Cambior in the mid-1990s outlined an oxide copper resource of 18 million tonnes grading 0.49% copper, 0.19% zinc, 13.5 grams silver, and 0.48 gram gold. The company also outlined a resource of 9 million tonnes grading 0.29% copper and 0.31% zinc, with no precious metals.

In 2001, a feasibility study by Sierra Mining & Engineering proposed solvent extraction-electrowinning for the oxide copper mineralization and standard flotation for the deeper sulphide material.

Trio Gold is earning a 100% interest in the project from privately owned, Idaho-based Sultana Resources in return for US$50,000 (already paid), 1 million shares, and completion of a bankable feasibility study. When and if commercial production is achieved, Trio must issue a further 1.5 million shares to Sultana, which retains a 0.5% net smelter return royalty.

Trio Gold recently closed a $420,000 private placement of 8.4 million shares priced at 5 apiece. Proceeds will be applied to the Empire Mine project.

Correction

In our Jan. 28 issue, a statement by Paul Davis, vice-president and a director of Canadian Arrow Mines (CRO-V), was incorrectly attributed to Paul Searle, manager of investor relations.

The Northern Miner wishes to confirm that no promotion was given to Mr. Searle.

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