Detour Gold Stakes Burntbush Property on Casa Berardi Trend
TORONTO, ONTARIO--(Marketwired - Sep 15, 2016) - Detour Gold Corp. (TSX:DGC) ("Detour Gold" or the "Company") announces the staking of 3,105 mining claims (two groups of contiguous claims) totaling 494 square kilometres comprising its new Burntbush project in the District of Cochrane in northeastern Ontario, approximately 115 kilometres northeast of the Town of Cochrane and 70 kilometres south of its flagship Detour Lake mine. The West claim group can be accessed via a forestry road from highway 652 (Detour Lake Mine Road).
The Burntbush East and West properties are strategically located along the Casa Berardi deformation zone in the Abitibi Greenstone Belt, approximately 35 and 75 kilometres respectively, west of the Casa Berardi gold mine operated by Hecla Mining Company, which has produced approximately 1.9 million ounces of gold since it commenced production in 1988.
Jean-François Métail, Vice President Mineral Resource Management, commented: "The Burntbush properties represent an important opportunity for Detour Gold's future organic growth, one that complements our strong base in Detour Lake. Our recent exploration success on the Lower Detour trend have prompted us to look at similar and favorable geological settings in the vicinity. We are fortunate to have identified an extensive prospective land position that was open for staking along the western end of the Casa Berardi fault, which remains underexplored with relatively no drilling along the secondary splays and untested gaps along the main structure."
In general, exploration on the Ontario side of the Casa Berardi fault has been minimal due to limited access, overburden and the lack of outcrop exposures. Historical and more recent exploration activities have focused on the main structural break. The Burntbush grassroot properties cover more than 80 kilometres of primary (EW) and secondary (NE-SW) subsidiary faults. It also encompasses a number of gold anomalies intersected in old diamond drill holes, including an intercept of 6.41 g/t over 2.9 metres drilled by Newmont in 1985, and in till samples from a 2005 regional program by the Ontario Geological Survey. Immediately east of the West claim group, drilling by Lakeshore Gold in the mid-2000s delineated a 500 metres gold mineralized horizon (Porphyry Creek Zone). Within the East claim group, in the portion not controlled by Detour Gold, a small NI 43-101 compliant gold resource (A8 3200 Vein System) was reported in 2013 by Alpha Minerals.
A 2017 exploration program currently in preparation will include high resolution airborne magnetic and electromagnetic surveys, along with field mapping and prospecting. The location and geology maps of Detour Gold's Burntbush property can be found at: http://www.detourgold.com/projects/detour-lake-exploration-regional/default.aspx.
Technical Information
The scientific and technical content of this news release was reviewed, verified and approved by Guy MacGillivray, P.Geo., Exploration Manager, a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects."
About Detour Gold
Detour Gold is an intermediate gold producer in Canada that holds a 100% interest in the Detour Lake mine, a long life large-scale open pit operation. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.
Forward-Looking Information
This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this news release contains forward-looking statements regarding the Company's 2017 exploration program on the Burntbush properties.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's ability to predict or control and may cause Detour Gold's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled "Description of Business - Risk Factors" in Detour Gold's 2015 AIF and in the continuous disclosure documents filed by Detour Gold on and available on SEDAR at www.sedar.com. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: the availability of financing for exploration and development activities; operating and capital costs; the Company's ability to attract and retain skilled staff; the mine development schedule; sensitivity to metal prices and other sensitivities; the supply and demand for, and the level and volatility of the price of, gold; timing of the receipt of regulatory and governmental approvals for development projects and other operations; the supply and availability of consumables and services; the exchange rates of the Canadian dollar to the U.S. dollar; energy and fuel costs; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; market competition; ongoing relations with employees and impacted communities and general business and economic conditions. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date hereof, or such other date or dates specified in such statements. Detour Gold undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
Contact
Detour Gold Corp.
Paul Martin
President and CEO
(416) 304.0800
Detour Gold Corp.
Laurie Gaborit
Director Investor Relations
(416) 304.0581
www.detourgold.com