Tres-Or Resources Ltd. (TSX VENTURE:TRS) has announced commencement of a high-resolution airborne magnetic and electromagnetic geophysical survey covering the Company's Duparquet Gold Project, located within the Abitibi region of northwestern Quebec.
The airborne survey is being flown in conjunction with adjacent property holders Osisko Mining Corporation, Clifton Star Resources Inc., and Xmet Inc.
Tres-Or's Duparquet Gold Project comprises 1,792 hectares (ha) of claims, including the Destor claims, a new contiguous claim block of 277 ha just added north of the past producing Duquesne Mine property. Tres-Or is purchasing this new claim block for an $11,088 cash payment and the issuance of 75,000 common shares of Tres-Or to the Optionor for a 100% interest in the claims subject to a 2.0% NSR. Tres-Or will retain a first right to purchase 1.0% of the NSR by paying to the Optionor $1,000,000. The Destor claim acquisition is subject to the acceptance of the TSX Venture Exchange.
The entire Duparquet Gold Project including this new Destor claim block will be covered by the airborne geophysical survey.
The survey will utilize the advanced TDEM EMosquito II high-resolution time domain transient electromagnetic system that will provide deep penetration. Detailed magnetic coverage and radar altimetry will be recorded for digital elevation modeling. This survey will be flown by Geophysics GPR International Inc. of Longueuil, Quebec using a helicopter at flight line spacing of 100 meters across Tres-Or's entire Duparquet property. This survey is meant to provide refined direct detection of gold-bearing conductive sulphide zones and to define extensions to the potentially gold bearing splay faults originating at the Porcupine-Destor Fault.
Tres-Or's Duparquet Gold Project adjoins the past-producing Beattie and Donchester gold mine properties to the east and the Dusquene gold mine property to the south. These past-producing gold mines are currently being re-evaluated by Osisko Mining Corporation ("Osisko") and Clifton Star Resources Inc. ("Clifton") where Osisko is planning a 130,000 m drill program along with metallurgical testing (see Osisko and Clifton news releases dated December 6, 2010). Tres-Or's Duparquet Gold Project is also contiguous to the Duquense-Ottoman property to the south where Xmet Inc. has recently published a 43-101 compliant inferred resource of 525,000 ounces of gold (see Xmet Inc. news releases dated November 8, 2010 and December 2, 2010).
Production from all of these past producing gold mines is associated with the regionally significant Porcupine-Destor fault, and splay faults which extend from the major fault. Tres-Or is targeting extensions of these splay faults which appear to cross the Duparquet Gold Project, based on government and Company geological mapping, as well as historical records of drill intersections containing gold in the central Duparquet property including 1.7 g/t gold over 1.16 metres (see Tres-Or news release dated September 15, 2010 for details).
Laura Lee Duffett, President and CEO of the Company, a qualified person by the standards of National Instrument 43-101, is overseeing the project and is responsible for the content in this news release.
Source: Tres-Or Resources Ltd.