Independent Survey Results Add to TNR’s Four Corners Project
A report received by Triple Nine Resources Ltd. on March 22, 2010 from Atlantic Geophysics Inc. (AGI) of Mount Pearl, NL detailing the latest ground magnetometer (MAG) survey results from new gridding on the Four Corners Project has identified 17 target areas, each considered highly prospective for future exploration. These target areas, first detected during MAG surveying completed in December, 2009 (ref release February 1, 2010), are now better defined up to several hundred metres in length and are aligned in a highly anomalous trend extending through the project area. The AGI report notes “many of the Target Areas have characteristics consistent with those in high grade iron deposits”.
Prospector Shawn Rose of Stephenville, NL was contracted by Triple Nine (TNR) to carry out detailed prospecting over the new gridded areas which totaled 11.9 kms; he availed of the limited snow cover to collect samples of outcrop and sub-outcrop (locally derived boulders). His work produced highly positive results that included the detection of previously unrecognized semi-massive to massive magnetite exposures corresponding to areas of high magnetism identified during the MAG survey.
Representative surface samples collected by Rose were forwarded to Activation Laboratories in Ancaster, ON for assaying using Whole Rock and Total Digestion ICP analyses. The assay results received on March 23, 2010 further confirm the high concentrations of vanadium – titanium – iron ore (magnetite) mineralization obtained during earlier sampling programs dating back to September, 2009.
These latest assays are very encouraging as they display a range of strong values for all 3 metals. In these magnetite-enriched samples, values range from 0.11% to 0.31% vanadium pentoxide (V2O5), 4.85% to 15.34% titanium oxide (TiO2), and 25.77% to 52.43% iron oxide (Fe2O3 T). These mineralized samples correspond with highly magnetic zones and provide further support for the grades of mineralization that can be expected in the target areas defined by the strong MAG responses.
Two samples, 425 metres apart, from a highly magnetic zone on the northwest end of the grid each yielded 0.21% V2O5 with Fe2O3 up to 31.46% and TiO2 up to 9.83%. The discovery of these 2 mineralized outcrops and the high MAG responses are considered significant as these latest results suggest the mineralized zone is continuing to the northwest and beyond the grid. Results of the earlier surveying and sampling completed in 2009 also showed the MAG responses and mineralization extending beyond the southeast end of the grid, and together with the latest results suggest a mineralized zone with at least 3.3 kms of strike length.
The current assays and MAG survey results now provide the company with the necessary information to direct the 2010 summer exploration program scheduled to start May 1. New gridding, magnetometer surveying, detailed prospecting, geological mapping and trenching together with surface channel sampling will be completed. The program also includes a contingency to allow drilling initial test holes at several of the higher grade zones. A base camp has been commissioned and exploration permits are in place to allow fieldwork to continue throughout 2010.
Company Chairman and CEO Len Muise states these latest results provide a better understanding of the potential and the size of the mineralized targets on the Four Corners Project. He adds that TNR’s ability to carry out an extensive exploration program is a result of the excellent support from its shareholders received during the recently completed private offering. He also acknowledges the support received from the Government of Newfoundland and Labrador to offset some exploration expenditures through several grants awarded by the Department of Natural Resouces.
Details of the magnetometer surveying and surface sampling completed to date on the Four Corners Project is available by following this link.