Trade Winds Executes Joint Venture Agreement with Detour Gold for Block A West of the Detour Lake Project
Vancouver, British Columbia CANADA, Apr 14, 2009 (Filing Services Canada via COMTEX) --
Companies: Detour Gold Corp (DGC), Detour Gold Corp (DRGDF), Trade Winds Ventures Inc. (TWD), Trade Winds Ventures Inc. (TWDIF)
Trade Winds Ventures Inc. (TWD - TSX Venture, TVR - FWB), ("Trade Winds" or the "Company") is pleased to report that it has entered into a comprehensive Joint Venture Agreement with Detour Gold Corporation (TSX: DGC) for the 50/50 joint venture Block A property located in Northern Ontario.
The new agreement formalizes the operating relationship between the parties, which was previously governed by a binding Letter of Intent, assigned to Detour Gold in January, 2007.
Block A is located west of Detour Gold's wholly owned Detour Lake gold project and east of Trade Winds' adjacent wholly owned Gowest property, approximately 180 kilometres northeast of Cochrane, Ontario. The gold mineralized M Zone structural corridor runs west from Detour Gold's property across Block A onto the Gowest property, with a total strike length of over 4.6 kilometres. Block A has been the subject of an on-going exploration program operated by Trade Winds since late 2003, and includes a total of 602 diamond drill holes, comprising 114,951 metres of drilling completed by Trade Winds during the period 2003 to 2007 and 112,464 metres of drilling completed previously by Placer Dome and other operators.
A National Instrument 43-101 resource estimate was completed by Golder Associates Ltd. in December, 2006. A new independent mineral resource estimate by Watts, Griffis and McOuat Limited ("WGM"), Consulting Geologists and Engineers of Toronto, Canada, compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects is currently under review by the Joint Venture partners, and which will be published upon completion of the review.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ian D. Lambert, CEO/President (604) 648-6225
or Terry McGee 1-866 698-9187 Ext 228
Email: info@tradewindsventures.com
Visit our Website at www.tradewindsventures.com
Certain information included in this news release constitutes "forward-looking statements". The words "expect", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to, risks associated with the mining industry such as government regulation, environmental and reclamation risks, title disputes or claims, success of mining activities, future commodity prices, costs of production, possible variation in mineral reserves, mineral resources, grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, the timing of estimated future production, capital expenditures, financial market fluctuations, requirements for additional capital, conclusions of economic evaluations, limitations on insurance coverage, risks associated with using third-party contractors, inflation as well as those factors discussed in the Company's most recent Annual Information Form on file with Canadian provincial securities regulatory authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
Source: Trade Winds Ventures Inc. (TWD - TSX-V, TWDIF - Pink Sheets, TVR - Frankfurt) http:www.tradewindsventures.com
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Companies: Detour Gold Corp (DGC), Detour Gold Corp (DRGDF), Trade Winds Ventures Inc. (TWD), Trade Winds Ventures Inc. (TWDIF)
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