Destor Claim Block Acquisition and Airborne Survey Complete at Tres-Or's Duparquet Gold Project, Quebec
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/02/11 -- Tres-Or Resources Ltd. ('Tres-Or' or 'the Company') (TSX VENTURE: TRS) is pleased to announce the completion of the purchase of the Destor claim group which forms part of Tres-Or's Duparquet Gold Project, located within the Abitibi region of northwestern Quebec. The Duparquet Gold Project now covers 1,792 hectares (ha) of claims, including the new 277 ha Destor claim block added north of the past producing Duquesne Mine property currently being re-evaluated by Osisko Mining Corporation ('Osisko') and Clifton Star Resources Inc. ('Clifton'). Tres-Or purchased this new claim block for an $11,088 cash payment and the issuance of 75,000 common shares of Tres-Or to the Optionor on Exchange acceptance of the agreement. Tres-Or has acquired a 100% interest in the claims subject to a 2.0% NSR. Tres-Or will retain a first right to purchase 1.0% of the NSR by paying to the Optionor $1,000,000.
Historical records indicate drill hole A-83-15 (1983) intersected multiple mineralized zones within the Destor claim group, including: 0.76 grams per tonne (g/t) gold (Au) over 12 m, containing a higher-grade zone of 1.32 g/t Au over 2.0 m; 1.12 g/t Au over 4.0 m; and 23.75 g/t silver (Ag) and 0.75% zinc (Zn), based on reports filed with the Quebec government (Aiguebelle showing; GM40928). No information exists as to the true thickness of these intersections, nor can Tres-Or verify the reported results due to the historical nature of the reports. For details refer to maps of the Duparquet Gold Project and Destor Claim Group at http://www.tres-or.com/images/Duparquet3c%20%282%29.jpg and http://www.tres-or.com/images/Duparquet_newRelease.JPG.
A high-resolution airborne magnetic and electromagnetic geophysical survey covering the Company's entire Duparquet Gold Project including this new Destor claim block was completed and Tres-Or is awaiting the delivery of the data files and reports. This airborne survey was flown in conjunction with adjacent property holders Osisko (TSX-OSK), Clifton (TSXV-CFO), and Xmet Inc. (TSXV-XME) (see news release dated December 21, 2010).
The survey utilized a high-resolution time domain transient electromagnetic system that provides deep penetration. Detailed magnetic coverage and radar altimetry was recorded for digital elevation modeling and the survey was flown using a helicopter at flight line spacing of 100 meters across Tres-Or's entire Duparquet property. This survey is meant to provide refined direct detection of gold-bearing conductive sulphide zones and to define extensions to the potentially gold bearing splay faults originating at the Porcupine-Destor Fault.
Tres-Or's Duparquet Gold Project adjoins the past-producing Beattie and Donchester gold mine properties and the Dusquene gold mine property. These past-producing gold mines are currently being re-evaluated by the Osisko/Clifton joint venture where Osisko is planning a 130,000 m drill program along with metallurgical testing (see Osisko and Clifton news releases dated December 6, 2010 and January 26, 2011). Tres-Or's Duparquet Gold Project is also contiguous to the Duquense-Ottoman property where Xmet has recently published a 43-101 compliant inferred resource of 525,000 ounces of gold (see Xmet news releases dated November 8, 2010 and December 2, 2010).
Production from all of these past producing gold mines is associated with the regionally significant Porcupine-Destor fault, and splay faults which extend from the major fault. Tres-Or is targeting extensions of these splay faults which appear to cross the Duparquet Gold Project, based on government and Company geological mapping, as well as historical records of drill intersections containing gold in the central Duparquet property including 1.7 g/t gold over 1.16 metres (see Tres-Or news release dated September 15, 2010 for details) and the Destor claim block Aiguebelle gold showing as mentioned above.
Laura Lee Duffett, President and CEO of the Company, a qualified person by the standards of National Instrument 43-101, is overseeing the project and is responsible for the content in this news release.
On behalf of the Board of Directors,
Laura Lee Duffett, President and CEO
About Tres-Or Resources Ltd.:
Tres-Or Resources Ltd. (TSX VENTURE: TRS) is a Canadian resource company exploring gold and precious metals projects and diamond assets in Ontario and Quebec. The experienced team has proven success in exploration through to discovery and mine development. Additional information related to the Company is available at: www.tres-or.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Contacts:
Tres-Or Resources Ltd.
Dominic Spedaliere
Corporate Communications
604-688-8700
info@tres-or.com
www.tres-or.com