Latest Drill Assays confirm consistency of Mineralization at Triple Nine’s

Triple Nine Resources Ltd of Stephenville, NL is pleased to report that assay results of  all 346 samples from the 955.70 metres of core drilled in September have now been received.  These assays record a weighted average of 0.124% vanadium pentoxide (V₂O₅), 6.00% titanium oxide (TiO₂) and 23.73% iron oxide ( Fe₂O₃T).  The company regard these drill results to be highly encouraging as they demonstrate the consistency of the mineralization observed in the anorthosite – gabbro (mafic intrusive rocks ) host.

Earlier this summer 662 metres of channel sampling from bedrock exposed in 11 trenches along a 1300 metre section of the more than 6000 metre mineralized target recorded weighted average grades of 0.130%  V₂O₅, 5.70% TiO₂ and 23.00% Fe₂O₃T .

The company advises that these trenching and drilling results also correspond to the initial surface prospecting and rock sampling completed from late 2009 to early 2010 along the more than 6000 metre long target zone.  The earlier prospecting and surface sampling results are another indication of the consistent and widespread distribution of the 3 metals comprising the mineralization.  This large mineralized target has been easy to outline because of its high magnetite content which produces strong magnetic responses that allow accurate mapping by the airborne and ground magnetic surveys.

The following table details the mineralized intersections and grades obtained in each hole:

Hole #	Hole length (Metres)	Fe2 03 (T) %	TiO2 %	V2O5 %
FCP-01-10	217.00	21.82	5.08	0.116
FCP-02-10	137.50	20.19	5.86	0.104
FCP-03-10	182.80	25.61	6.22	0.131
FCP-04-10	230.70	27.10	6.90	0.144
FCP-05-10	187.70	22.55	5.65	0.117
Avg. Grades		23.73	6.00	0.124

 

Another very positive feature further enhanced by the drill core assays is the recognition of significant high grade sections in all 5 holes including:

	Fe2O3 T	TiO2	V2O5
28.90 metres   (95 feet) in FCP-01-10 grading	42.74%	9.62%	0.227%
76.20 metres   (250 feet) in FCP-03-10 grading	36.20%	9.15%	0.190%
123.50 metres   (380 feet) in FCP-04-10 grading	31.50%	7.90%	0.170%

 

4 of the 5 holes were drilled to test along strike a 400-metre section of the 1300 m zone detailed earlier in 11 surface trenches.  These 4 holes were drilled at dips of 50° and 60° to allow a true drill intersected thickness of the mineralization which is dipping 55° west, observed in the higher grade semi-massive to massive magnetite layers.  Hole FCP-04-10 drilled to test the down-dip extension of the mineralization below the first layer of drilling was highly successful with an apparent thickening of the higher grade sections with depth, confirmed by the highest grade drill results to date with the total core length of FCP-04-10 averaging 27.10% Fe₂O₃T, 6.90% TiO₂ and 0.144% V₂O_5.

Company Chairman and CEO Len Muise states “the early successes of the surface trenching and drilling programs is a significant achievement for this private, junior mining company, especially at this early stage of exploration with the first round of trenching and drilling yielding these grades and thickness of mineralization over a 1,300 m (4,300 ft) section”.

Mr. Muise adds, “in addition to confirming signification mineralization within the magnetic trend, this 1,300 m section now provides a target for detailed, 43-101 compliant drilling and suggests that Triple Nine should be able to readily identify a 43-101 compliant resource within this 1,300 metre section that could be the building block for outlining a much larger resource”.

The Company             also announces it has commissioned Dr. Derek Wilton of St. John’s, NL to compile a 43-101 compliant report on the Four Corners Project to be completed in January, 2011.  This report will greatly assist in directing the 2011 drilling program, which is now being planned for detailed follow-up of the 2010 results. This report will also enable financing to allow the necessary drilling for reporting a 43-101 compliant resource, which Triple Nine hopes to achieve in 2011.

Work is in process to update all 2010 exploration work and results on the TNR  website at www.triplenineresources.com.

Industry consultant, Victor A. French, P.Geo., Vice President of Exploration for Triple Nine and a qualified person as defined by National Instrument 43-101 reviewed the scientific and technical information contained in this news release.