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KELOWNA, BC, Dec. 27, 2013 /CNW/ - TrinCan Capital Corp. ("TrinCan" or the "Corporation") (TSXV: TRN) is pleased to announce preliminary assay results from the first two diamond drill holes of the 2013-2014 winter diamond drilling campaign on the Tashota gold project being conducted by its newly acquired subsidiary, Markinch Resources Inc.
The winter diamond drilling campaign, which commenced mid-December at the Tashota gold project (225 km northeast of Thunder Bay, Ontario), is primarily targeted at the Paulpic gold zone; which has an inferred mineral resource of 68,900 ounces of gold with an average grade of 8.24 grams per tonne of gold (g/t Au). However, drilling was commenced at the Wascanna shaft gold-bearing zone, a secondary target, while access trails to the Paulpic gold zone are in the process of freezing. The Wascanna shaft, which was sunk at intervals between 1917 and 1936, is reportedly 98 metres deep with 604 metres of lateral development on three levels, although no production is reported.
The first two drill holes, designed to intersect the Wascanna zone at vertical depths of 9 and 15 metres, both encountered zones of quartz veining with visible gold, following on which two deeper holes were drilled to intersect the zone at vertical depths of 17 and 22 metres. These also cut quartz veining with visible gold. With these visually encouraging results, four additional holes on the same pattern were drilled 10 metres to the north. Three of these four holes of the second "fence" also encountered visible gold. A deeper hole was then attempted to intersect the zone below the 100-ft level of the mine, but ran into underground workings, so a tenth hole was attempted, which successfully cut the vein zone at a vertical depth of about 35 metres, also with an occurrence of visible gold. Total drilling at Wascanna has been 260 metres, which is more than originally planned because of the visually encouraging results.
The preliminary assay results from holes W13-01 and W13-02, which were assayed on a rush basis using a fire assay preparation on 30-gram splits with atomic absorption finish, are as follows (all widths quoted are actual core lengths):
|Drill Hole|| From
These preliminary results and the results from the other holes drilled, which are expected in the coming weeks, will be checked using gravimetric fire assay procedures on samples assaying over 2.5 g/t Au.
The vein zone is nearly vertical and it is inferred that true widths for W13-01 will be approximately 71 percent of the core lengths and for W13-02 that true widths will be approximately 50 percent of the core lengths quoted above.
Quality Assurance/Quality Control:
Assays quoted in this news release were performed at Accurassay Laboratories in Thunder Bay, Ontario, using fire assay preparation on 30-gram splits with atomic absorption finish. Accurassay is an independent analytical laboratory with ISO/IEC 17025 accreditation. Technical information in this news release was also prepared by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and President and a Director of the Corporation who is also supervising exploration at the Tashota Project.
Forward-Looking and Cautionary Statements:
This news release contains forward-looking statements relating to preliminary assay results and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors could cause actual results to differ materially from the Company's expectations and are detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of TrinCan. As a result, TrinCan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and TrinCan does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein.
SOURCE: TrinCan Capital Corp.
For further information:
Colin Bowdidge, Ph.D., P.Geo
TrinCan Capital Corp.
Phone: (416) 807-2004