VANCOUVER, Feb. 21, 2018 /CNW/ - Tres-Or Resources Ltd.
("Tres-Or" or the "Company") (TSX-V: TRS, OTCPK: TRSFF) is pleased
to provide an update on its ongoing 3D modelling initiative and
exploration plans, as well as a review of historical data for the
Fontana Gold Project, the Company's flagship project located 10 km
northeast of Amos, and 65 km north
of Val-d'Or, Quebec.
Fontana was originally discovered in the 1930s, and has been the
subject of considerable historical work including a 92 m shaft, 242 m
of underground galleries, 350 drill holes, surface samples and
22,047 tonnes of bulk samples yielding a reported 1438 ounces of
gold (see Map 1 and NR December 8,
2017). Most of the work (e.g. 220 drill holes, and 22,000
tonnes of bulk samples) was completed in the late 1980s, when gold
was around US$350 an ounce. No
work occurred on the Project between 1991 and 2012. Multiple
high-interest gold zones were identified within the Fontana project
area. Based on a review of the historical data, Tres-Or has
identified four high-priority targets: the Hooper-Bunkhouse zone,
Zone 27, the Fontana shaft area and the Toughie zone.
"Fontana is the heart of the Amos gold district, and Tres-Or's ongoing
compilation and 3D modelling of past results appears to point
encouragingly towards a significant gold opportunity. Tres-Or
is excited to be advancing the promising Fontana Gold Project with
plans for a substantial drill program," said Laura Lee Duffett, Tres-Or's President and
CEO.
Tres-Or's review of the data reports from the late 1980s and
earlier, including the reported recovery of 1438 ounces of gold
from the bulk samples (at an average grade of 2.04 grams Au per
metric tonne), as well as identification of multiple priority gold
zones with significant mineralized drill intervals convinces the
Company that the Fontana Gold Project holds strong promise given
current gold prices in excess of US$1300 an ounce.
Four Priority Target areas:
- Hooper-Bunkhouse Zone:
The Hooper-Bunkhouse Zone is located at the intersection of
the northeast striking Bunkhouse sheared quartz vein with multiple
northwest oriented sulfide-rich quartz veins. It is the
location of the most gold-rich drill intersections including
historical drill hole JB-200B, which intersected 17.5 g/t gold
over 38.1 meters. Tres-Or's 2017 drill program comprising
four holes in this area confirmed high-grade gold mineralization,
intersecting 46.1 g/t Au over 0.5
m; 15.9 g/t Au over 1.0
m from the Hooper (sulfide-rich) veins; and 10.1 g/t
Au over 1.0 m from Bunkhouse
sheared quartz veins (see NR December 8,
2017 for details). This zone is also the site of large
bulk samples from the late 1980s, with open pits remaining as
evidence today. These bulk samples recovered 1420 ounces of
gold from 21,800 tonnes of extracted material for a sample grade of
2.04 grams per tonne gold (g/t Au).
- Zone 27: The Zone 27 (named for the first hole
F-27 in this area from 1945) is a 300+ m section of the
northwest-trending Fontana main shear including such high-grade
historical drill intersections up to 6.53 g/t Au over
8.3 m (F-27), 58.4 g/t Au over
1.8 m (JB-006), and 114 g/t Au
over 0.9 m (JB-117), out of
nearly 40 drill holes (Map 2). No bulk samples were completed
in this high-priority zone. A table of significant
intersections from Zone 27 is provided on www.tres-or.com
- Fontana Shaft Zone: The Fontana shaft zone extends
approximately 500 m southeast along
the main shear, and was tested by more than 40 drill holes.
The best intervals include 44.1 g/t Au over 0.4 m (FT-13-01), 7.10 g/t Au over
1.22 m (JB-027), 25.03 g/t Au
over 0.1 m (F-46) and 1.46 g/t
Au over 11.23 m (F-42,
6.2 m of interval not sampled), as
well as a bulk sample that yielded 3 ounces of gold from 91 tonnes
(recovered grade of 1.10 g/t Au).
- Toughie Zone: The best intervals include 13.27 g/t Au
over 2.87 m (JB-042) and 38.09
g/t Au over 0.9 m (JB-108), as
well as a bulk sample that yielded 2 ounces of gold from 91 tonnes
(reported grade of 0.51 g/t Au).
Tres-Or is currently using 3D modelling of all the drill results
to better understand the potential for extension of priority
zones. Creation of 3D grade shells confirms potential to
extend the historical mineralization, possibly defining either
underground or open pit gold mineralization. The Company
commenced this exploration program with 4 drill holes into the
intersection of the Hooper and Bunkhouse zones (#1 above).
Tres-Or's four holes confirmed high-grade gold mineralization with
intervals of 46.1 g/t Au over 0.5
m; 15.9 g/t Au over 1.0
m; and 10.1 g/t Au over 1.0
m from both Hooper (sulfide-rich) and Bunkhouse (sheared
quartz) zones (see NR December 8,
2017 for details). The Company is now planning for a
drill program to confirm and expand each of the priority zones
described above, in light of the historical data and our 3D
modelling work.
Tres-Or also completed a high-resolution ground HLEM geophysical
survey over the same area, identifying several near-surface
anomalies consistent with sulfide veins warranting field follow-up
this spring once the snow melts. The HLEM survey will be
expanded if the anomalies have identified new mineralization
zones.
About the Fontana Gold Project
The Fontana Gold Project is the most advanced project in the
Amos area of Quebec. It has
been the subject of considerable past work, including the sinking
of a 92 meter shaft, excavation of 242 meters of underground
workings, completion of over 300 drill holes, and processing of
22,047 tonnes of bulk sample material yielding 1,450 ounces of
gold.
Gold mineralization within the Fontana Gold Zone occurs within
quartz veins and veinlets spatially associated with a number of
northeast-southwest and northwest-southeast trending
shear zones.
Some of the best historic drill intersections were reported at
the intersection of the Hooper and Bunkhouse zones, including
17.5 g/t gold over 38.1 meters (Drill Hole JB200B)
and 17.1 g/t gold over 13.7 meters (Drill Hole
JB200).
Laura Lee Duffett, P.Geo. and
Harrison Cookenboo, Ph.D., P.Geo,
OGQ are the qualified persons as defined in National Instrument-
43-101, who have reviewed and are responsible for the technical
information presented in this news release.
CORPORATE UPDATE: New Director Appointed
The Board of Directors of Tres-Or is pleased to announce the
appointment of Louie Anthony Spedaliere LL.B (Hons) as an
independent director of Tres-Or Resources Ltd.
Mr. Spedaliere's academic background includes studies in Law at
Carleton University, Ottawa, Ontario, Canada in 1994-1997; trained
by Professor's Linda Singer,
Michael Lewis and Frank Sander who is considered to be the father
of ADR in Mediation at Harvard Law School, Cambridge, Massachusetts, U.S.A in 2003 and
Conflict Mediation Services of Downsview, Mediation Training, Toronto, Ontario, Canada in 2004; Awarded a
Bachelor of Laws with Honours, LL.B (Hons), Nottingham Law School, Nottingham Trent University (Ranked one of the best
universities in the world in 2017) Nottingham, U.K. in 2006; Authored an honours
thesis titled: ' The Benefits of Family Mediation as Compared to
the Traditional Adversarial Approach'; In 2006 Mr. Spedaliere
became an Associate Member of Ontario Association For Family
Mediation; Granted a license to provide legal services by The Law
Society of Upper Canada in
2010.
Since 2010, Mr. Spedaliere has provided legal services in
Ontario courts, tribunals,
administrative boards and mediated: civil litigation matters,
family and workplace disputes. Mr. Spedaliere teaches in the areas
which he provides services and has been instrumental in the
preparation of curriculum changes that were required to comply with
the evolving requirements of the Ministry of Training Colleges and
Universities of Ontario, The Law
Society of Upper Canada and ADR
Institute of Ontario.
In 2002 Mr. Spedaliere and his brother Dominic incorporated
Louianna Inc., which produces certified organic, Protected
Designation of Origin, Extra Virgin Olive Oil from olive groves
owned in Molise, Italy located
south of Rome on the Adriatic Sea.
The product is sold under the brand Louianna and imported
throughout Canada to over 400 fine
food stores and grocery chains including: Longo's, Pusateri's,
McEwan, Highland Farms, Coppa's Fresh Market, Bruno's Fine Foods,
Nature's Emporium, and Organic Garage to name a few, and Online at:
louianna.com
Mr. Spedaliere is also actively involved in his local
Richmond Hill, Ontario community
and has been appointed in Honourable Reza Moridi, Minister of
Research, Innovation and Science, MPP Riding as President of the
Richmond Hill Provincial Liberal Association, Ontario Liberal Party
since 2011-Present.
On behalf of the Board of Directors
"Laura Lee Duffett"
Laura Lee Duffett
President and CEO
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as the term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy of accuracy of this news release.
About Tres-Or Resources Ltd.:
Tres-Or Resources Ltd. (TSX Venture: TRS) is a Canadian resource
company focused on exploring for gold, base metals and diamond
resources in the Abitibi-Témiscamingue regions in northwestern
Quebec. Additional information related to the Company is
available at: www.tres-or.com.
SOURCE Tres-Or Resources Ltd.
