Nice drill results from Detour Gold
TORONTO, ONTARIO, Aug 03, 2010 (MARKETWIRE via COMTEX) -- Detour Gold Corporation /quotes/comstock/11t!dgc (CA:DGC 26.62, +0.92, +3.58%) ("Detour Gold" or the "Company") reports assay results for its 2010 drilling campaign at the Detour Lake gold project in northern Ontario. The 2010 drilling campaign of 90,000 metres is over 90% complete. The program is focusing on the western extension of the Detour Lake open pit deposit between section 17,540E and 18,000E on a 40X40 metre drill spacing. Thus far, the Company has completed 78,352 metres in 154 holes. Today's results include an additional 25 holes totaling 13,620 metres (including one hole abandoned for 42 metres). Thus far, the Company has released drill results from 79 holes of the 2010 drilling program.
The Company plans to issue an updated mineral resources and reserves statement for the year-end, which will include the 2010 drilling program. Drill results to date indicate that the gold mineralization continues west of the current US$850 pit shell, which is expected to have a positive impact on the mineral resources and reserves. The current mineral reserves (proven and probable) currently stand at 11.4 million ounces of gold (347.5 million tonnes averaging 1.02 g/t) (Technical Report filed on SEDAR on June 30, 2010).
All 25 drill holes were completed from section 17,540E to 18,060E, west of the Calcite Zone. The majority of the gold mineralization was intersected outside of the feasibility study open pit (based on a gold price of US$850/oz), along the same wide mineralized corridor. Of significance, holes DG-10-883 on section 17,820E intersected 4.04 g/t (uncut) or 1.11 g/t (cut) over 51.0 metres, DG-10-896 on section 17,900E intersected 4.59 g/t (uncut) or 1.97 g/t (cut) over 39.0 metres, and DG-10-888A on section 17,980E intersected 3.38 g/t (uncut) or 2.50 g/t (cut) over 38.1 metres.