PDX Resources Advised of Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario
October 01 2008 - 4:35PM
Marketwired Canada
PDX Resources Inc. (TSX:PLG) ("PDX") has been advised by Detour Gold Corporation
("Detour Gold") that it has released drill results of 28 holes from the Calcite
and Gap Zones of its Phase II drilling program at the Detour Lake property in
northern Ontario.
PDX has a 42.4% equity interest in Detour Gold (19 million shares). Detour Gold
issued a press release today, the verbatim text of which follows:
"Detour Gold Intersects Significant Mineralization West of Calcite Zone and in
Gap Zone of its Detour Lake Project in Northern Ontario" (Hole DG-08-373: 1.60
g/t over 60.0 m and 1.35 g/t over 78.0 m in Calcite Zone)
Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to
report assay results for an additional 28 holes from its Phase II drilling
program at the Detour Lake project in northern Ontario. There are four (4)
active drill rigs on site.
Since the Phase II start up in July 2007, the Company has completed 358 holes
totaling 139,714 metres (including 29 holes abandoned for 2,454 metres and
deepening of 10 holes for 1,661 metres). Approximately 4,000 metres remain to be
drilled for completion of the Phase II program. From Phase II, results from 187
holes totaling 68,428 metres (including 15 holes abandoned for 1,290 metres)
were included in the July 2008 mineral resource update. Over 60% of the Phase
III drilling program (30,000 metres) has now been completed.
Results from an additional 19 holes drilled at the western end of the Calcite
Zone (up to section 17,740E) are indicating additional gold mineralization
within and outside the US$700 pit shell (refer to Press Release July 2, 2008),
which will positively impact the final pit design (lower strip ratio) and
resource base. Of importance, significant gold mineralization was encountered in
holes DG-08-373 with 1.60 g/t over 60.0 metres and 1.35 g/t over 78.0 metres on
section 18,100E and DG-08-389 with 0.96 g/t over 78.0 metres on section 18,580E
(no intervals above capping grade of 20 g/t in both holes).
Results from nine (9) holes infilling the Gap Zone (between sections 18,760E and
19,160E) continue to show good continuity of the gold mineralization. In
particular, hole DG-08-369 intersected 1.68 g/t (cut) over 32.0 metres in the
hanging wall (350 metres to the north) and 1.36 g/t (cut) over 62.0 metres in
the core of the mineralized corridor. Hole DG-08-347 interesected 4.51 g/t
(uncut) and 2.40 g/t (cut) over 44 metres in the core of the mineralized
corridor.
The best mineralized (uncut) intervals encountered are shown below.
Calcite Zone
----------------------------------------------------------------------
DG-08-351 DG-08-361 DG-08-373 DG-08-389
--------- --------- --------- ---------
15.09 g/t over 1.55 g/t over 1.60 g/t over 5.29 g/t over
18.0 m 44.5 m 60.0 m 22.0 m
77.34 g/t over 5.14 g/t over 1.35 g/t over 0.96 g/t over
11.0 m 19.0 m 78.0 m 78.0 m
DG-08-400
---------
4.33 g/t over
16.0 m
Gap Zone
----------------------------------------------------------------------
DG-08-347 DG-08-353 DG-08-360 DG-08-369
--------- --------- --------- ---------
4.51 g/t over 51.29 g/t over 1.09 g/t over 2.80 g/t over
44.0 m 7.0 m 104.0 m 32.0 m
4.42 g/t over 1.37 g/t over
17.0 m 62.0 m
9.30 g/t over
12.0 m
DG-08-368
---------
10.78 g/t over
7.0 m
On July 2, 2008, Detour Gold reported a mineral resource update based on a
detailed engineered pit design using a preliminary mine schedule at a mining
rate of 30,000 tpd operation for the first few years and increasing to 60,000
tpd thereafter. The base case reported (using a gold price of US$700 per ounce)
contained 10.8 million ounces of gold in the measured and indicated categories
and 2.4 million ounces of gold in the inferred category (refer to press release
dated July 2, 2008).
Complete tables of results, surface and longitudinal plans and cross-sections
for the Detour Lake deposit are posted on the Company's website
www.detourgold.com /Projects/Detour Lake or
http://www.detourgold.com/s/LatestDrillResults.asp or on the home page "Explore
Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger
Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument
43-101. Mr. Aubertin has verified and approved the data disclosed in this
release, including the sampling, analytical and test data underlying the
information.
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario,
Canada. Analysis for gold is done on sawn half core samples using fire assay (AA
finish). Samples with higher grade gold ( greater than 5 g/t) are re-assayed
using the pulp and metallics procedures. Standard reference materials, blank and
field duplicate samples are inserted prior to shipment from site to monitor the
quality control of the assay data. For additional information on Quality
Assurance and Quality Control ("QA/QC"), refer to the press release dated April
11, 2007.
For further information, please contact:
Gerald Panneton, Laurie Gaborit,
President and CEO Director Investor Relations
Tel: (416) 304.0800 Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street,
Suite 2040, Toronto, Ontario M5J 2J1
Detour Lake Project - Highlights of Drill Results
---------------------------------------------------------------------------
Hole No. Section From To Length Au Au Host Rock Unit
No. (m) (m) (m) Uncut Cut
(g/t) to 20
g/t
(g/t)
---------------------------------------------------------------------------
DG-08-341 17,900E 335.0 354.0 19.0 0.86 0.86
(Calcite Zone) ------------------------------------------------------------
465.0 473.0 8.0 0.94 0.94
------------------------------------------------------------
500.0 507.0 7.0 1.87 1.87
------------------------------------------------------------
Lower Pillow
531.0 558.0 27.0 0.93 0.93 Flow
------------------------------------------------------------
582.0 590.0 8.0 2.37 1.44
------------------------------------------------------------
Inc. 583.9 584.4 0.5 34.92 20.00
------------------------------------------------------------
596.0 603.0 7.0 1.02 1.02
---------------------------------------------------------------------------
DG-08-343 18,020E 53.0 78.00 25.0 0.88 0.88
(Calcite Zone) ------------------------------------------------------------
110.0 119.0 9.0 1.44 1.44
------------------------------------------------------------
207.0 220.0 13.0 1.20 1.20
------------------------------------------------------------
235.0 250.0 15.0 0.76 0.76
------------------------------------------------------------
Lower Massive
348.0 363.0 15.0 2.24 2.23 Flow
------------------------------------------------------------
Inc. 350.0 351.0 1.0 20.10 20.00
------------------------------------------------------------
383.0 395.0 12.0 0.65 0.65
---------------------------------------------------------------------------
DG-08-344 Upper Massive
(Gap Zone) 18,880E 228.0 245.0 17.0 1.49 1.49 Flow
------------------------------------------------------------
Lower Pillow
373.0 393.0 20.0 1.46 1.46 Flow
------------------------------------------------------------
422.0 438.0 16.0 0.86 0.86
------------------------------------------------------------
448.0 458.0 10.0 1.10 1.10
------------------------------------------------------------
470.0 477.0 7.0 1.03 1.03
------------------------------------------------------------
483.0 491.0 8.0 1.10 1.10
------------------------------------------------------------
506.0 515.0 9.0 0.89 0.89
------------------------------------------------------------
543.0 555.0 12.0 0.97 0.97
---------------------------------------------------------------------------
DG-08-347 19,160E 283.0 297.0 14.0 0.72 0.72
(Gap Zone) ------------------------------------------------------------
362.0 369.0 7.0 1.69 1.69
------------------------------------------------------------
391.0 398.0 7.0 1.15 1.15
------------------------------------------------------------
545.0 557.0 12.0 1.76 1.76
------------------------------------------------------------
Lower Pillow
579.0 623.0 44.0 4.51 2.40 Flow
------------------------------------------------------------
Inc. 594.0 594.5 0.5 151.80 20.00
------------------------------------------------------------
Inc. 594.5 595.0 0.5 74.09 20.00
---------------------------------------------------------------------------
DG-08-349 18,020E 142.0 149.0 7.0 1.73 1.73
(Calcite Zone) ------------------------------------------------------------
185.0 192.0 7.0 3.46 3.46
------------------------------------------------------------
289.0 302.0 13.0 1.56 1.56
------------------------------------------------------------
330.0 339.0 9.0 1.18 1.18
---------------------------------------------------------------------------
DG-08-351 17,900E 138.0 152.0 14.0 0.69 0.69
(Calcite Zone) ------------------------------------------------------------
Upper Pillow
176.0 194.0 18.0 15.09 3.66 Flow
------------------------------------------------------------
Inc. 177.0 178.0 1.0 212.00 20.00
------------------------------------------------------------
Inc. 178.0 179.0 1.0 33.70 20.00
------------------------------------------------------------
215.0 236.0 21.0 0.76 0.76
------------------------------------------------------------
256.0 263.0 7.0 1.01 1.01
------------------------------------------------------------
274.0 283.0 9.0 1.66 1.66
------------------------------------------------------------
Lower Pillow
378.0 389.0 11.0 77.34 1.99 Flow
------------------------------------------------------------
Inc. 378.0 379.0 1.0 848.95 20.00
------------------------------------------------------------
413.0 420.0 7.0 1.14 1.14
------------------------------------------------------------
599.0 617.0 18.0 1.05 1.05
---------------------------------------------------------------------------
DG-08-353 18,800E 239.0 264.0 25.0 0.59 0.59
(Gap Zone) ------------------------------------------------------------
274.0 287.0 13.0 1.78 1.78
------------------------------------------------------------
471.0 480.0 9.0 1.24 1.24
------------------------------------------------------------
Lower Pillow
542.0 556.0 14.0 1.84 1.84 Flow
------------------------------------------------------------
Lower Pillow
581.0 588.0 7.0 51.29 5.86 Flow
------------------------------------------------------------
Inc. 585.5 586.0 0.5 182.46 20.00
------------------------------------------------------------
Inc. 586.0 586.5 0.5 338.02 20.00
------------------------------------------------------------
Inc. 586.5 587.0 0.5 175.52 20.00
---------------------------------------------------------------------------
DG-08-355 17,940E 69.0 87.0 18.0 1.38 1.38
(Calcite Zone) ------------------------------------------------------------
146.0 154.0 8.0 1.75 1.75
------------------------------------------------------------
170.0 177.0 7.0 1.73 1.69
------------------------------------------------------------
Inc. 175.0 175.5 0.5 20.60 20.00
------------------------------------------------------------
191.0 211.0 20.0 0.79 0.79
---------------------------------------------------------------------------
DG-08-356 19,120E 72.0 83.0 11.0 1.26 1.26
(Gap Zone) ------------------------------------------------------------
142.0 149.0 7.0 1.04 1.04
---------------------------------------------------------------------------
DG-08-359 17,980E 68.0 78.0 10.0 0.80 0.80
(Calcite Zone) ------------------------------------------------------------
132.0 144.0 12.0 1.05 1.05
------------------------------------------------------------
165.0 177.0 12.0 1.03 1.03
------------------------------------------------------------
454.0 470.0 16.0 1.10 1.10
---------------------------------------------------------------------------
DG-08-360 18,800E 106.0 113.0 7.0 1.30 1.30
(Gap Zone) ------------------------------------------------------------
Upper Pillow
138.0 145.0 7.0 4.32 2.94 Flow
------------------------------------------------------------
Inc. 142.0 143.0 1.0 29.60 20.00
------------------------------------------------------------
Upper Massive
158.0 178.5 20.5 1.57 1.57 Flow
------------------------------------------------------------
Lower Pillow
332.0 436.0 104.0 1.09 0.93 Flow
------------------------------------------------------------
Inc. 430.5 431.0 0.5 53.70 20.00
------------------------------------------------------------
Lower Pillow
466.0 483.0 17.0 4.42 2.72 Flow
------------------------------------------------------------
Inc. 481.5 482.0 0.5 77.90 20.00
------------------------------------------------------------
494.0 501.0 7.0 1.11 1.11
------------------------------------------------------------
Lower Pillow
525.0 532.0 7.0 3.62 2.46 Flow
------------------------------------------------------------
Inc. 526.0 526.5 0.5 36.36 20.00
------------------------------------------------------------
546.0 553.0 7.0 1.77 1.54
------------------------------------------------------------
Inc. 546.5 547.0 0.5 23.27 20.00
------------------------------------------------------------
Lower Massive
584.0 615.0 31.0 1.38 1.38 Flow
---------------------------------------------------------------------------
DG-08-361 17,940E 130.0 137.0 7.0 0.87 0.87
(Calcite Zone) ------------------------------------------------------------
155.0 199.5 44.5 1.55 1.23 Contact PF/MF
------------------------------------------------------------
Inc. 166.0 167.0 1.0 34.36 20.00
------------------------------------------------------------
Upper Massive
223.0 242.0 19.0 5.14 1.86 Flow
------------------------------------------------------------
Inc. 223.0 224.0 1.0 82.31 20.00
------------------------------------------------------------
261.0 270.0 9.0 1.29 1.29
------------------------------------------------------------
398.0 407.0 9.0 1.79 1.47
------------------------------------------------------------
Inc. 406.5 407.0 0.5 25.70 20.00
---------------------------------------------------------------------------
DG-08-362 19,080E 48.0 55.0 7.0 1.12 1.12
(Gap Zone)
---------------------------------------------------------------------------
DG-08-362A 19,080E 121.0 138.0 17.0 1.20 1.20
(Gap Zone) ------------------------------------------------------------
174.0 186.0 12.0 0.77 0.77
---------------------------------------------------------------------------
DG-08-365 17,740E 212.0 249.0 37.0 0.83 0.83 Upper MF
(Calcite Zone) ------------------------------------------------------------
Lower Pillow
319.0 340.0 21.0 2.00 1.85 Flow
------------------------------------------------------------
Inc. 337.0 338.0 1.0 23.11 20.00
------------------------------------------------------------
396.0 403.0 7.0 1.58 1.58
------------------------------------------------------------
498.0 505.0 7.0 3.29 2.90
------------------------------------------------------------
Inc. 500.0 501.0 1.0 22.78 20.00
------------------------------------------------------------
Lower Massive
525.0 538.0 13.0 3.11 2.44 Flow
------------------------------------------------------------
Inc. 537.0 538.0 1.0 28.65 20.00
------------------------------------------------------------
555.0 567.4 12.4 2.20 2.20 CMH
---------------------------------------------------------------------------
DG-08-366 18,020E No significant intercepts
(Calcite Zone)
---------------------------------------------------------------------------
DG-08-368 Lower Massive
(Gap Zone) 19,040E 39.0 46.0 7.0 10.78 1.76 Flow
------------------------------------------------------------
Inc. 41.5 42.0 0.5 146.33 20.00
------------------------------------------------------------
118.0 132.0 14.0 0.97 0.97
---------------------------------------------------------------------------
DG-08-369 18,760E 190.0 222.0 32.0 2.80 1.68 Contact MF/PF
(Gap Zone) ------------------------------------------------------------
Inc. 218.5 219.0 0.5 91.52 20.00
------------------------------------------------------------
Lower Pillow
382.0 444.0 62.0 1.37 1.36 Flow
------------------------------------------------------------
Inc. 443.0 444.0 1.0 20.80 20.00
------------------------------------------------------------
Lower Pillow
459.0 471.0 12.0 9.30 1.00 Flow
------------------------------------------------------------
Inc. 459.0 459.5 0.5 219.00 20.00
------------------------------------------------------------
486.0 497.0 11.0 1.61 1.61
------------------------------------------------------------
513.0 521.0 8.0 0.98 0.98
------------------------------------------------------------
562.0 574.0 12.0 1.04 1.04
---------------------------------------------------------------------------
DG-08-370 17,940E 85.0 92.0 7.0 1.08 1.08
(Calcite Zone) ------------------------------------------------------------
107.0 117.0 10.0 0.67 0.67
---------------------------------------------------------------------------
DG-08-373 Upper Pillow
(Calcite Zone) 18,100E 284.0 304.0 20.0 2.33 2.33 Flow
------------------------------------------------------------
325.0 335.0 10.0 0.80 0.80
------------------------------------------------------------
371.0 379.0 8.0 1.18 1.18
------------------------------------------------------------
Lower Pillow
391.0 451.0 60.0 1.60 1.60 Flow
------------------------------------------------------------
Lower Pillow
464.0 542.0 78.0 1.35 1.35 Flow
---------------------------------------------------------------------------
DG-08-374 17,820E 56.0 64.0 8.0 1.51 1.51
(Calcite Zone) ------------------------------------------------------------
104.0 116.0 12.0 0.70 0.70
---------------------------------------------------------------------------
DG-08-375 17,820E 59.0 66.5 7.5 2.09 1.56
(Calcite Zone) ------------------------------------------------------------
Inc. 64.5 65.0 0.5 27.95 20.00
------------------------------------------------------------
152.0 162.0 10.0 0.87 0.87
---------------------------------------------------------------------------
DG-08-376 17,740E 65.0 73.0 8.0 0.87 0.87
(Calcite Zone) ------------------------------------------------------------
314.0 326.0 12.0 0.77 0.77
---------------------------------------------------------------------------
DG-08-385 18,140E 185.0 197.0 12.0 0.72 0.72
(Calcite Zone) ------------------------------------------------------------
369.0 383.0 14.0 1.28 1.28
------------------------------------------------------------
412.0 421.0 9.0 0.86 0.86
------------------------------------------------------------
430.0 441.0 11.0 1.31 1.31
------------------------------------------------------------
458.5 471.0 12.5 1.95 1.39
------------------------------------------------------------
Inc. 458.5 459.0 0.5 33.86 20.00
------------------------------------------------------------
488.0 495.0 7.0 3.23 2.92
------------------------------------------------------------
Inc. 490.6 491.1 0.5 24.38 20.00
---------------------------------------------------------------------------
DG-08-389 Lower Pillow
(Calcite Zone) 18,580E 21.0 43.0 22.0 5.29 1.67 Flow
------------------------------------------------------------
Inc. 41.0 42.0 1.0 99.58 20.00
------------------------------------------------------------
110.0 118.0 8.0 1.01 1.01
------------------------------------------------------------
Lower Massive
162.0 240.0 78.0 0.96 0.96 Flow
---------------------------------------------------------------------------
DG-08-396 Lower Pillow
(Calcite Zone) 18,180E 79.0 107.0 28.0 1.74 1.64 Flow
------------------------------------------------------------
Inc. 100.0 101.0 1.0 22.60 20.00
------------------------------------------------------------
136.0 151.0 15.0 1.04 1.04
------------------------------------------------------------
252.0 265.0 13.0 1.44 1.44
------------------------------------------------------------
290.0 302.0 12.0 1.14 1.14
---------------------------------------------------------------------------
DG-08-397 18,140E 83.0 90.0 7.0 1.15 1.15
(Calcite Zone)
---------------------------------------------------------------------------
DG-08-400 Upper Massive
(Calcite Zone) 18,140E 43.0 51.0 8.0 5.04 2.88 Flow
------------------------------------------------------------
Inc. 43.0 44.0 1.0 37.30 20.00
------------------------------------------------------------
Upper Pillow
98.0 114.0 16.0 4.33 1.42 Flow
------------------------------------------------------------
Inc. 102.0 102.5 0.5 113.43 20.00
------------------------------------------------------------
Lower Pillow
153.0 174.0 21.0 1.32 1.06 Flow
------------------------------------------------------------
Inc. 173.5 174.0 0.5 31.01 20.00
------------------------------------------------------------
Lower Massive
255.3 263.0 7.7 5.19 4.88 Flow
------------------------------------------------------------
Inc. 258.0 259.0 1.0 22.40 20.00
---------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the table.
True width is estimated to be 65 to 75% of the drilled length.
Forward-Looking Information
This press release contains certain forward-looking information as defined in
applicable securities laws (referred to herein as "forward-looking statements").
Often, but not always, forward-looking statements can be identified by the use
of words such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "continues", "forecasts", "projects", "predicts", "intends",
"anticipates" or "believes", or variations of, or the negatives of, such words
and phrases, or statements that certain actions, events or results "may",
"could", "would", "should", "might" or "will" be taken, occur or be achieved.
Specifically, this press release includes forward-looking statements regarding:
the Company's planned drilling program and estimate of the quantity and quality
of its mineral resources. Inherent in forward-looking statements are risks,
uncertainties and other factors beyond the Company's ability to predict or
control. These risks, uncertainties and other factors include, but are not
limited to, the uncertainties involved in interpreting geological data and other
risks involved in the gold exploration and development industry as well as those
risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 -
"Description of Business - Risk Factors" filed on SEDAR. Readers are cautioned
that the list of factors included in the AIF is not exhaustive of the factors
that may affect the forward-looking statements. Actual results and developments
are likely to differ, and may differ materially, from those expressed or implied
by the forward-looking statements contained in this press release. Such
statements are based on a number of assumptions which may prove to be incorrect,
including, but not limited to, the following assumptions: the Company's
exploration and development activities on the Detour Lake Property will proceed
in accordance with the Company's current timetables; and the Company's resource
estimates, geological and metallurgical assumptions (including with respect to
the size, grade and recoverability of mineral resources) and operational and
price assumptions on which the resource estimates are based, are accurate.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the Company's actual results, performance or
achievements to be materially different from any of its future results,
performance or achievements expressed or implied by forward-looking statements.
All forward-looking statements herein are qualified by this cautionary
statement. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to update
publicly or otherwise revise any forward-looking statements whether as a result
of new information or future events or otherwise, except as may be required by
law.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred'
resources. Detour Gold advises investors that although these terms are
recognized and required by Canadian regulations (under National Instrument
43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and
Exchange Commission does not recognize them. Investors are cautioned not to
assume that any part or all of the mineral deposits in these categories will
ever be converted into reserves. In addition, 'inferred resources' have a great
amount of uncertainty as to their existence, and economic and legal feasibility.
It cannot be assumed that all or any part of an inferred mineral resource will
ever be upgraded to a higher category. Under Canadian rules, estimates of
inferred mineral resources may not form the basis of feasibility or
pre-feasibility studies, or economic studies except for Preliminary Assessment
as defined under 43-101. Investors are cautioned not to assume that part or all
of an inferred resource exists, or is economically or legally mineable."
About PDX Resources Inc.
PDX (formerly named Pelangio Mines Inc.) holds a 42.4% equity interest in Detour
Gold Corporation (TSX:DGC), which controls the Detour Lake advanced gold
exploration project. PDX provides prospective investors with an opportunity to
participate in potential increases in the size of the resource at the Detour
Lake project and the value of PDX's equity interest in Detour. PDX's
shareholders are also uniquely situated to benefit from current moves towards
consolidation in the gold industry and increasingly positive sentiment towards
investment in gold.
Reliance on Detour Gold and Forward-Looking Statements
The information contained in this press release is a verbatim extract of the
press release issued by Detour Gold. Although PDX believes the information
included in the press release to be generally reliable, the data has not been
independently verified and PDX does not assume any liability for the accuracy or
completeness of such information. Furthermore, as noted above in the verbatim
extract, the press release may contain forward-looking information within the
meaning of applicable securities laws. Such information includes the statements
contained in the verbatim extract regarding Detour Gold's exploration and
drilling plans, plans to update the mineral resource and the estimation of
mineral resources and are subject to risks, uncertainties and other factors
which may cause the actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking information. The risks include those that are
set out above in the verbatim extract and those contained in Detour Gold's
annual information form, Item 4.4 - "Description of Business - Risk Factors"
filed on SEDAR as noted above. See also, the risks set out in Pelangio Mines
Inc.'s annual information form, management information circular dated March 19,
2008 and quarterly and annual management's discussion and analysis. There is no
assurance that the forward-looking information contained in the press release
will prove to be accurate. Accordingly, readers should not place undue reliance
on the forward-looking information.
All of the information contained in the press release is qualified by this
cautionary statement.