Welcome!

Microsoft Cloud Authors: Andreas Grabner, Stackify Blog, Liz McMillan, David H Deans, Automic Blog

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
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that A&I Solutions named "Bronze Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded over 15 years ago in 1999, A&I Solutions continues to provide companies with premier integrated enterprise solutions. By partnering with the trusted and proven solutions of leading technology companies, our customers are assured high performance levels across all IT environments including:...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search and...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
SYS-CON Events announced today that Tintri, Inc, a leading provider of enterprise cloud infrastructure, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Tintri offers an enterprise cloud platform built with public cloud-like web services and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds – to build agile development environments...