Welcome!

Microsoft Cloud Authors: Elizabeth White, Mihai Corbuleac, Pat Romanski, David Bermingham, Steven Mandel

News Feed Item

Threegold Consolidates Its Land Position Around Rousseau and Standard Gold in Abitibi in Acquiring Two New Properties from Diagnos, as Well as Provides an Update

VAL-D'OR, QUEBEC -- (Marketwire) -- 11/30/12 -- Threegold Resources Inc (TSX VENTURE:THG) ("Threegold" or the "Company") is pleased to announce the acquisition from Diagnos Inc. of the Colline Bearn and Dalquier properties located at approximately 13 kilometre from the town of Amos and some 55 kilometres northeast of Val-d'Or, in the Bearn and Dalquier townships, in the Abitibi region of Quebec (see appended map: http://media3.marketwire.com/docs/va1130.pdf).

The Collines Bearn and Dalquier projects consist of 22 map-designated cells covering a surface area of about 13 square kilometres (1,282 hectares). The two new properties are immediately adjacent to the Rousseau West property, which together with Rousseau East and Standard Gold, are 100% owned projects. These projects are located on trend with a 3.6 kilometre-long, auriferous corridor that has been defined by the last drill campaign carried out on Standard Gold by Threegold's option partner Bowmore (see Press Release March 29th, 2012). The old Standard Gold mine contains historical resources estimated at 132,750tonnes at 5.4g/t Au.

Geologically, the Collines Bearn and Dalquier projects lie on volcanic units of the Lac Arthur Group dominated by andesites, structurally overlain by basalts of the Bearn Group. The volcanic rock package is truncated by the prominent Berry Pluton and a dioritic intrusion on the Colline Bearn property, and by a granodioritic pluton adjacent to a gabbros on the Dalquier Property (Source: Sigeom MRNF NTS sheet 32D09-200-0202).

The Collines Bearn project contains the historical showings AN-88-6 and DD88-1 which, with Gordona on Rousseau West, are all associated with prominent high magnetic and strong electromagnetic anomalies identified over few kilometers by the recently completed MAG-TDEM airborne geophysical survey by the Company (see press release June 21, 2012). Mineralization consists of disseminated to semi-massive sulphides (sphalerite, galena, pyrrhotite, pyrite) associated with brecciated to sheared, quartz-carbonate-sericite veins and veinlets returning high grade values in gold, silver, lead and zinc (Source: Sigeom MRNF GM-46485, GM-47679, GM-47830).

The Dalquier project contains the East Dalquier Showing characterized by a quartz vein network associated with scheelite. The mineralization consists of disseminated pyrite with traces of pyrrhotite, chalcopyrite and native gold, which returned historical values in gold of up to 5.5g/t-Au in grab samples (Source: Sigeom MRNF GM 56186), 4.8g/tAu over 1.1 metre in drilling (Source: Sigeom MRNF GM-01714) and unconfirmed values in tungsten of 1.86%W.

Note that the resources reported above are provided as historical data and have not been verified. In addition, grab samples are selective by nature and unlikely represent average grades.

Under the terms of the agreement, Threegold will acquire 100% interest in the two properties by making a $10,000 cash payment and by issuing 200,000 common shares to Diagnos Inc. The deal will be subject to a 2% NSR ("Net Smelter Return") royalty of which 1% can be bought back for $1,000,000.

Termination of option agreements:

Threegold Resources has opted to terminate its option to earn up to 75% of the Hop O'My Thumb and Vauquelin properties of Plato Gold. Osisko Mining Corporation ("Osisko") has opted to drop its option to earn up to 70% on the Adanac property. Osisko still maintains its share position in the Company and is confident in Threegold's management and ability to deliver long term shareholder value.

Financing activities:

Threegold has closed a 48,000 $CND financing priced at 6 cents per unit with a half warrant at 10 cents for 18 months. A 7% finder's fee in cash is being paid in association with this transaction.

Victor Goncalves, President and CEO of Threegold Resources Inc. stated: "We are pleased with the progress made by the Company despite the current difficult economic market conditions. We are pleased to have acquired two new gold plays with high-grade gold occurrences along with base metals in our portfolio. The Collines Bearn and Dalquier projects are now part of our strategic and ongoing effort to consolidate an already strong land position in a highly prospective gold mining camp. The company is planning an exploration news release shortly to update the Company activities".

Alain Berclaz, P.Geo, Vice-President Exploration for Threegold and a Qualified Person under National Instrument 43-101, has approved the technical information contained in this news release.

About Threegold

Threegold has established itself as one of the premier exploration companies in Quebec. The Company has a highly qualified technical team with extensive exploration experience, including previous gold discoveries in Quebec, and a management team with financing and public company expertise.

Threegold offers investors a portfolio of high-quality exploration projects focussing on Canadian assets primarily in Quebec; and the potential to create shareholder wealth through discoveries of new, low-cost multi-million ounce gold deposits

Threegold's strategy is to mitigate shareholder risk through partnerships with the likes of Bowmore Exploration.

You can also visit our website : www.threegold.ca

Forward-looking statement:

Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, future plans and objectives are forward-looking statement which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The paradigm has shifted. A Gartner survey shows that 43% of organizations are using or plan to implement the Internet of Things in 2016. However, not just a handful of companies are still using the old-style ad-hoc trial-and-error ways, unaware of the critical barriers, paint points, traps, and hidden roadblocks. How can you become a winner? In his session at @ThingsExpo, Tony Shan will present a methodical approach to guide the holistic adoption and enablement of IoT implementations. This ov...
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...