VAL-D'OR, QUEBEC--(Marketwire - Sept. 9, 2008) - Threegold Resources Inc. (TSX VENTURE:THG) is pleased to inform its shareholders that it has received the final results from the 2007 diamond drilling program and has commenced a 2008 diamond drill campaign that will target extensions of the known mineralized zones intercepted by drilling and trenching in the southern sector of the project area. Also new targets outlined in the northern portion of the Lemieux Dome will be drilled. Currently a property wide exploration program of prospecting, trenching and alteration mapping using PIMA is in progress.
The 2007 diamond drilling program was the first program performed by Threegold on the Lemieux Dome project and targeted the extension of surface copper, zinc, lead and silver mineralization occurring at the Big Pioneer, Veronique, Brandy South and the former Federal Mine on the Lemieux Dome in the Gaspesie region. Preliminary assay results were announced previously (Press release April 22 and June 5, 2008).
Drilling consisted of 7431 metres of NQ-sized core mainly in the southern portion of the project where on-going prospecting-trenching outlined broad areas of copper, zinc, lead and silver mineralisation during the 2006 and 2007 programs. Several new mineralised zones (Gasse, Guillaume, Elisabeth, Vital) have been uncovered while trenching and these are now believed to form the lateral extension of previously known occurrences. Drilling on the Brandy South surface showing intersected fifteen (15) metres of significant Pb/Zn/Ag mineralization at fifty three (53) metres depth (Table I below). Copper (Cu) mineralization was intersected in twelve (12) drill holes drilled on and in the vicinity of the Big Pioneer copper surface showing. Copper grades of 0.57% and 0.49% Cu were reported over drill core thicknesses of 25.5 metres and 28.0 metres respectively in two drill holes (Table I below). Several new mineralised zones have been discovered by recent trenching activities and they are possibly lateral extension of previously known mineral occurrences drilled in 2007. Previously announced results have been validated and confirmed. Final significant results are summarized in the following table:
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Table I - Final result Lemieux Dome 2007 diamond drilling program
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Hole # Location From To Length Cu Zn Pb Ag
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(m)(i) (%) (%) (%) (g/t)
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DL07-01 Brandy Sud 89.7 91.0 1.3 1.51 1.0
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95.4 95.8 0.4 1.34 1.3
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152.0 152.5 0.5 3.46 1.5
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DL07-02 Brandy Sud 53.0 68.0 15.0 4.62 1.38 4.3
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133.25 133.65 0.4 5.67 2.46 3.8
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166.0 167.0 1.0 5.48 2.85 7.4
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191.5 192.0 0.5 0.42 3.40 15.2
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204.5 205.5 1.0 2.68 0.22 1.5
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223.0 224.3 1.3 1.77 2.40 13.7
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227.3 228.0 0.7 1.59 0.69 1.7
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245.3 246.5 1.2 1.32 0.21 0.7
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DL07-03 Brandy Sud 85.3 86.0 0.7 1.75 0.93 1.5
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101.5 102.2 0.7 1.50 0.52 1.6
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130.0 142.95 12.95 0.11 1.83 0.99 4.2
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DL07-05 Veronique 32.9 34.2 1.3 2.32
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FED07-02 Federal 70.5 71.4 0.9 4.76 10.70 7.2
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195.5 196.0 0.5 1.05
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233.5 234.1 0.6 5.34 1.83 10.9
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441.15 441.7 0.55 1.59 0.63 4.2
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445.5 446.0 0.5 3.35 0.71 3.6
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FED07-04 Elisabeth 202.75 204.0 1.25 2.12
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BP07-02 Big Pioneer 75.0 76.0 1.0 2.09
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114.2 115.0 0.8 1.03
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289.1 289.6 0.5 1.05
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BP07-05 Big Pioneer 150.2 153.4 3.2 0.90
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199.5 201.0 1.5 1.20
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BP07-06B Big Pioneer 68.4 84.0 15.6 0.23
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BP07-07 Big Pioneer 50.2 58.2 8.0 0.17 2.2
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BP07-08 Big Pioneer 48.2 49.5 1.3 2.05 0.20 1.3
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248.7 250.0 1.3 0.25
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BP07-09 Big Pioneer 96.1 99.25 3.15 0.31 0.26
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BP07-10 Big Pioneer 131.9 134.0 2.1 1.26
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BP07-11 Big Pioneer 11.55 13.8 2.25 0.16 0.45
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BP07-12 Big Pioneer 161.5 165.5 4.0 0.18 0.44
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BP07-13 Big Pioneer 16.3 21.15 4.85 0.13 0.60 1.90
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Big Pioneer 95.5 121.0 25.5 0.57 2.24
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BP07-14 Big Pioneer 107.0 110.8 3.8 0.24 1.43
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BP07-15 Big Pioneer 40.4 68.5 28.1 0.49 0.24 1.94
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77.0 85.0 8.0 0.22 0.22 0.91
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87.5 94.5 7.0 0.29 0.08 1.91
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112.0 119.8 7.8 0.20 0.44 0.59
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(i) measured core length
The observed mineralization in the numerous showings is different both in style and mode of emplacement. In the Brandy South and Veronique showings, separated by more than three (3) kilometres, mineralization occurs in veins in contact between sandstone-argillite and mafic intrusions. Copper mineralization distinguishes the Veronique showing while zinc, lead and silver is the main mineralization in Brandy South. The Federal and Big Pioneer showings, separated by more than four (4) kilometres, are important faulted corridors where epithermal breccias and polyphase quartz veins are mineralized. The Elizabeth showing consists of a network of veins in a north-south shear while the Leclerc showing is located in a hightly hematized zone containing chalcopyrite rich veins.
A total 1290 split-core samples were assayed for copper, zinc, lead, silver and gold as well as a series of major and trace elements. Results showed that 22% assayed above 1 g/t silver, 27% assayed above 1000 ppm copper, 12% assayed above 1000 ppm Zn and 8% assayed above 1000 ppm lead. Anomalous gold and cobalt values were also recorded for a number of the split core samples.
The 2008 diamond drilling programme of ten thousand (10,000) metres currently in progress will test the continuation of these mineralized 2007 drill intersections in the southern sector of the Lemieux Dome and also test targets in areas located in the northern portion of the Dome in the Mont-de-l'Aigle property optioned by Threegold from Ressources Appalaches Inc (APP : TSX Venture exchange). Previous diamond drilling by Appalaches returned the following partial results:
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Hole # From (m) To (m) Length (m) Cu (%)
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F02-07 52.0 52.85 0.85 2.43
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F04-12 189.6 234.6 45.0 0.15
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Including 191.8 192.3 0.5 2.08
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F05-01 103 141.7 38.7 0.11
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F03-20 46.8 96.3 49.3 0.12
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Including 48.9 49.6 0.7 2.9
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http://www.ressourcesappalaches.com/html/fr/proprietes/projet.php?pro_id=5
Quantec Geophysics of Toronto is currently reinterpreting the results of a 2003 Titan 24 geophysical survey on the Mont de la Breche area (Mont-de-l'Aigle optioned property) utilizing up-to-date signal processing and imagery techniques. The reinterpreted data is expected to outline potential phase change targets that will be tested during the current diamond drilling program. In the western sector of the Dome project area, the Company is reviewing all available ground and airborne geophysical data to outline areas for ground prospecting and exploration.
In addition to geophysical studies, Threegold is conducting a systematic regional outcrop sampling programme over the entire 150 sq. kilometre Lemieux Dome to better characterize and quantify rock/mineral alteration using PIMA technology. PIMA utilizes infrared spectroscopy to identify and quantify the alteration minerals present in the various rock lithologies. The method has been effectively used in targeting potential mineralization on a regional scale.
Management is pleased with the drill results which confirmed and outlined subsurface extensions to different styles of base/precious metal mineralization in a small area of the 150 km2 property that has been explored to date. Threegold has assembled a diverse geological exploration team backed by experienced geological consultants well-versed with the geology of Gaspe, especially copper mineralization styles applicable to the region.
The 2007 drilling was conducted under the supervision of Bruce Robbins, P.Geo and Bernard-Olivier Martel, P.Geo; drillcore was logged by Bernard-Olivier Martel, P. Geo. drillcore sample analysis was conducted by ALS-Chemex of Val-d'Or on half split cores by the ICP method for thirty five (35) elements and metals and by fire assay, atomic absorption (AA) for gold on a fraction of 30g. Duplicates and blanks were regularly inserted following quality control protocols. Samples with more than10 000 ppm were systematically re-analysed by ICP.
Updates on the Mercier and Adanac Projects will be released shortly when results and evaluation studies are released to the company.
Threegold's common shares are listed on the TSX Venture Exchange under the symbol "THG". Investors are invited to visit the website at www.threegold.ca.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.