Shareholders Update
To: TNR Shareholders
Interested Parties and
Media Reps
On behalf of the Board and Management of Triple Nine Resources Ltd. I am very pleased to update you on the latest results from our 2010 exploration program on the Four Corners Vanadium – Titanium – Magnetite (Iron Ore) Project. During the fieldwork, which is still in progress, we successfully completed an airborne magnetic and electromagnetic survey, trenching and channel sampling of bedrock, geological mapping and prospecting. The different work phases all produced highly positive results that indicate the potential for outlining a major bulk tonnage resource of ore grade mineralization (overall these results from our first full exploration season have exceeded our expectations).
We were fortunate in early June to contract Fugro Airborne Surveys of Mississauga, ON, a world leader in airborne geophysical surveying, to complete a 110 kilometre airborne survey over the project area. (Fugro was in the area surveying for other mining companies thereby allowing TNR to avail of their services). The Fugro survey has produced “exceptional” magnetic and electromagnetic responses over a 5.6 km (3.5 miles) strike length extending the strike length of 3.5 kms initially outlined during earlier ground magnetic surveys in 2009 and 2010. Adding to the strike length by 2 kms increases the overall size of the target zone by almost 40%.
This is a significant exploration result for the Four Corners Project, particularly as prospecting in the area of the strike extension has identified strong mineralization in grab samples of outcrop and boulders. A suite of 18 samples assayed at Actlabs in Ancaster, ON yielded a high range of values with iron oxide (Fe2O3 T) averaging 31.55%, titanium oxide (T1O2) 7.00% and vanadium pentoxide (V2O5) 0.172%. These are very robust mineral values and present another new and exciting target to explore.
Our trenching and channel sampling program completed in mid July was a tremendous success. Approximately 1000 metres of excavator digging succeeded in exposing 662 metres of bedrock and continuous channel sampling with rock saws confirmed the extensive distribution of significant mineralization throughout the Four Corners Project. Trenches were dug at representative sites along a 2.7 km strike length section of the target zone with a total of 321 samples being collected. A weighted average of these samples confirms average grades of 23.00% Fe2O3 (T), 5.70% TiO2 and 0.13% V2O5 which falls within the range of ore grade values.
At this time we are also pleased to report that our 1000 metre first phase drilling program is nearing completion and the last of 5 holes will be completed this week. The success we have achieved in our surface and airborne surveys is continuing in our drilling as all 5 holes have intersected the magnetite – titanium – vanadium enriched zones sampled during the surface sampling completed in July. The results of the trench sampling and airborne surveys have greatly assisted in positioning the drill holes for testing this large target zone on the Four Corners Project. The 2010 work program of airborne surveying, trenching, rock sampling and diamond drilling is generating a large database which will provide important information on the mineralizing nature and extent of the mineralized zone which is emerging to be a major resource potential.
To our shareholders we sincerely appreciate your on-going support which is essential to the exploration and development of the Four Corners Project – without your support this success would not have been possible. Over the next few weeks we will update out website with information on the on-going 2010 exploration program and will be show-casing the Four Corners Project at the Canadian Institute of Mining meeting to be held in St. John’s, NL November 4 – 5. If you are in the area at that time please come by and visit us at our convention display booth.
Again, on behalf of the Board and Management of Triple Nine we thank you.
Best Regards,
Len Muise
Chairman and CEO