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News Releases
| | December 18, 2008
Exploration Update
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| | Triple Dragon Resources Inc. (the "Company") is pleased to report on the progress made during its field work program on the Company's wholly-owned Murray Property. The Property is located about 80 km northeast of Yellowknife, Northwest Territories and within a few kilometers of the winter road to the Diavik and Ekati diamond mines.
Exploration Program 2008
During 2008, the Company conducted geological mapping and sampling to confirm historic values reported for several of the gold zones at the Murray Property. In total, 198 rock samples were collected from the property. Highlights from outlined trench areas include:
- Area A (historic Zone #6): chip samples returned 6.73 oz/t Au across a 0.25 m quartz vein and 0.85 oz/t across a 0.75 m section of wall rock;
- Area B (historic Zone #7): chip samples returned 0.75 oz/t Au across a 0.25 m quartz vein; and
- Area E (historic Zone #3): a grab sample returned 0.36 oz/t Au from a quartz vein.
The Company is encouraged by the results obtained to date and is planning an expanded exploration program in 2009, which will include mapping and sampling on historic workings, as well as diamond drilling to explore the depth of the surface mineralization.
All samples were prepared and analyzed by Acme Analytical Laboratories Ltd. of Vancouver, British Columbia. Samples were analyzed for gold by fire assay and other constituents by 30-element ICP-MS techniques.
Historical Exploration
At the Murray Property, historic mineralized zones include the following:
- Historic Zone #1: quartz veins traced for over 24 m along strike, with a maximum of 1.70 oz/t Au reported over a 1.2 m width;
- Historic Zone #6 (Area A): rotary holes each drilled to approximately 0.9 m depth, returned from nil to 1.308 oz/t Au; and
- Historic Zone #7 (Area B): values of 3.59 oz/t Au across 0.45 m and 4.2 oz/t Au across 1.2 m have been reported for a 9.1 m long quartz-filled fracture zone.
The Property is underlain by metaturbidites of the Archean Burwash Formation, and is considered favorable for turbidite-hosted gold deposits. Notable examples of this deposit type include the Meguma Group deposits in Nova Scotia, which produced in excess of 1.5 million ounces of gold, and the Bendigo District deposits in Australia, which have produced in excess of 12 million ounces of gold. Within the Northwest Territories, known turbidite-hosted vein deposits and/or past producing mines within the Burwash Formation, tend to contain very high grades, but are generally of smaller tonnage. These include Camlaren Mine, located 10 km due east of Murray, which produced 36,661 ounces of gold at an average grade of 0.57 oz/t Au, and Bullmoose Lake Gold Mine, about 80 km south-southeast of the Murray Property, which produced about 20,000 ounces during 1986/87 at an average grade of 0.37 oz/t Au.
Jocelyn Klarenbach, P.Geol. of Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the field work at the Murray Property and prepared the technical information in this news release.
On Behalf of the Board of Directors
TRIPLE DRAGON RESOURCES INC.
David Hodge
President and Director
Tel: 604 681 1568
The CNSX does not accept responsibility for the
adequacy or accuracy of this news 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 release include statements regarding expanded exploration in 2009 to include mapping and sampling on historic workings, diamond drilling to explore the depth of the surface mineralization, and that the Murray Property is considered favorable for turbidite-hosted gold deposits.
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, but are not limited to, 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 property; that we may not complete environmental programs in a timely manner or at all; 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 and Analysis of its audited financial statements filed with the British Columbia Securities Commission. |
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