Welcome!

Microsoft Cloud Authors: David H Deans, Pat Romanski, Janakiram MSV, Jnan Dash, Andreas Grabner

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.

Contacts:
Mr. Victor Goncalves
President and CEO
Threegold Resources Inc
(204) 997-5517
victor@threegold.ca

Mr. Sylvain Laberge.
Investor Relations
Threegold Resources Inc
(514) 702-9841
sylvain@threegold.ca

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
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
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...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
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, discussed how leveraging the Industrial Internet and...
910Telecom exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and exchanges.
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Events announced today that CA Technologies has been named "Platinum 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, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
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.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that CA Technologies has been named “Platinum 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, 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. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, 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. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...