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 goldover 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.
For further information: Sebastian de Kloet - Strategic Advisor, Red Cloud Klondike Strike Inc., Ph: 416-970-5277; Dominic Spedaliere - Corporate Communications: Ph: 604-688-8700; Dean Claridge - Business Development: Ph: 604-880-1865; Email: [email protected], Website: www.tres-or.com