Trivello Acquires Copper-Gold Porphyry Project in British Columbia
04 Août 2010 - 9:01AM
PR Newswire (Canada)
VANCOUVER, Aug. 4 /CNW/ -- VANCOUVER, Aug. 4 /CNW/ - Trivello
Energy Corp. (TSX-V "TRV"; Frankfurt "T6U1") (the "Company") is
pleased to announce that it has acquired the Day Copper-Gold
Porphyry Property and related claims, located approximately 380km
northeast of Prince George, British Columbia. About the Day
Porphyry Project The Day occurrence is located in north-central
British Columbia and is host to significant porphyry gold-copper
mineralization. The occurrence was discovered and previously
drilled by Falconbridge. Drilling in the early 1970s produced
several significant intersections including 0.67% copper and 0.84
g/t gold across 58.83 m, and Hole 74-4 with 14.94 m of 0.61% copper
and 1.92 g/t gold. The project is located in the Toodoggone region
of north central British Columbia, approximately 50 km south of
Northgate Mineral's Kemess South Mine. The Kemess South Mine is
host to proven reserves of 22.7 MT of 0.28 g/t gold and 0.14 %
copper. This year, the mine is forecast to produce 102,500 ounces
of gold and 47.6 million pounds of copper. The area between the
Toodoggone region in the north and the Mt. Milligan region in the
south has seen significant increased mineral exploration for
copper, gold, and silver deposits in recent years. Notable porphyry
projects in the belt include: Northgate Minerals Corp's. (TSX:NGX)
Kemess South and North Projects, Terrane Metals Corp's (TSXv:TRX)
Mount Milligan Project, and Serengeti Resources Inc's (TSXv:SIR)
Kwanika Project. Project Highlights: - Copper-gold porphyry
exploration property situated in the Toodoggone region of
north-central British Columbia. - Discovered in 1972 by
Falconbridge; which drilled eight holes (totaling 1360 meters)
including 60 meters of 1.5% Cu as well as: DDH 74-1: 0.67% Cu, 0.84
g/t Au over 58.83 meters DDH 74-4: 0.61% Cu, 1.92 g/t Au over 14.94
meters - Target displays porphyry exploration hallmarks: 1.
Anomalous copper/gold geochemistry in soil (greater than 200 ppm
Cu; greater than 50 ppb Au) 2. Higher magnetic susceptibility (800
nT above background in the area) 3. Strong IP chargeability -
Hosted by an altered dacite porphyry that contains significant
bornite and chalcopyrite associated with quartz flooding. - Soil
geochemistry, and grid-controlled geophysics, have outlined three
extension targets to the Day Zone: 1. Northern copper/gold soil
anomaly, with coincident angular mineralized bodies 2. Southern
copper soil anomaly, parallel but weaker than the northern anomaly
3. Northern magnetic anomaly, with associated IP chargeability
anomaly north of and subparallel to the Day zone. Other porphyry
deposits in region: Deposit Tonnes (mt) Cu (%) Au (g/t) Category
----------------------------------------------------------- Kemess
South 22.7 0.14 0.28 Proven Reserves Kemess North 719.2 0.15 0.30
Measured and Indicated Mount Milligan 482.4 0.20 0.39 Proven and
Probable Reserves Kwanika 182.6 0.29 0.28 Indicated The technical
information provided above for the Day Porphyry Project was
prepared by Jeff Reeder, P.Geol, a Qualified Person as defined by
National Instrument 43-101. Certain exploration results referred to
above are historical in nature and were compiled before NI 43-101.
Trivello has not independently analyzed the results of the previous
exploration therefore the historical results should not be relied
upon. Trivello believes these historical results provide an
indication of the potential of the properties and are relevant to
ongoing exploration. Under the terms of the Acquisition Agreement,
Trivello will acquire a 100% interest in the Day Porphyry Project
and related claims from Zimtu Capital Corp. and 877384 Alberta Ltd.
Total consideration of the Acquisition is $50,000 cash and the
issuance of 5.0 million common shares. The acquisition remains
subject to TSX Venture Exchange acceptance. As the Company will be
issuing more than 10% of the current issued and outstanding share
capital to non-arm's length parties, shareholder approval of the
acquisition will be sought at the Company's Annual General Meeting,
to be held in Vancouver, BC on September 8, 2010. On Behalf of the
Board of Directors Trivello Energy Corp. "Jay Roberge"
------------- Jay Roberge Director Tel: (604) 687-3113 Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are
forward-looking statements, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Forward looking statements in this news release include that the
acquisition of the Day Porphyry Project is subject to TSX Venture
Exchange acceptance and shareholder approval. It is important to
note that actual outcomes and the Company's actual results could
differ materially from those in such forward-looking statements.
Risks and uncertainties include economic, competitive,
governmental, environmental and technological factors that may
affect the Company's operations, markets, products and prices.
Factors that could cause actual results to differ materially may
include misinterpretation of data; that we may not be able to get
equipment or labour as we need it; that we may not be able to raise
sufficient funds to complete our intended exploration and
development; that our applications to drill may be denied; that
weather, logistical problems or hazards may prevent us from
exploration; that equipment may not work as well as expected; that
analysis of data may not be possible accurately and at depth; that
results which we or others have found in any particular location
are not necessarily indicative of larger areas of our properties;
that we may not complete environmental programs in a timely manner
or at all; that market prices may not justify commercial production
costs; and that despite encouraging data there may be no
commercially exploitable mineralization on our properties. Readers
should refer to the risk disclosures outlined in the Company's
Management Discussion & Analysis of its audited financial
statements filed with the British Columbia Securities Commission.
Jay Roberge, Director, Tel: (604) 687-3113
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