Recommended macrodiamond analyzes, photos in microdiamonds (mainly type II) of the Guigues de Tres-Or pipe in Quebec and closure of the third tranche of private placement
Vancouver, British Columbia – (Newsfile Corp. – May 5, 2021) – Tres-Or Resources Ltd. (TSXV: TRS) (OTC: TRSFF) (“Tres-Or” or the “Company”) is pleased to present the new photomicrographs of type II microdiamonds that dominate at the Guigues Kimberlite Pipe in southwestern Quebec. The photographs of the 21 Guigues microdiamonds larger than 0.150 mm are now available on the Tres-Or website at the address: www.tres-or.com.
Type II diamond dominates microdiamond populations of the Guigues kimberlite in southwestern Quebec
16 out of 21 microdiamonds measured by SRC Labs, Type II, as defined by a lack of the common impurity nitrogen
Type II diamonds are rare (less than 2% of gemstone diamonds sold) but can be extremely valuable and include many of the most famous and largest stones ever sold.
In addition to being favorable type II diamonds, 90% of the microdiamonds recovered from Guigues (53 out of 58) are described by SRC Labs as “white / colorless and transparent”
The photographs of the 21 Guigues microdiamonds> 0.150 mm are available for consultation on www.tres-or.com
Recommended work includes processing most of the remaining December 2019 drill core to recover diamonds larger than 0.425mm
Subsequently, Tres-Or will drill 2 to 5 additional drill holes to better define the pipe (currently evaluated at 4.5 to 6 hectares)
Photomicrographs were produced by the Saskatchewan Research Council Geoanalytical Laboratories Diamond Services (“SRC”) from 21 microdiamonds recovered from Guigues larger than 0.150mm. Of these 21 microdiamonds, 16 were reported to be Type II diamonds, signifying an absence of nitrogen impurity determined at SRC using the industry standard technique of Micro-Fourier transform infrared spectroscopy (FTIR) (see Tres-Or press releases of December 8, 2020, January 5, 2021 and April 6, 2021).
Diamond Figure 1
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Diamond Figure 2
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Diamond Figure 3
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Type II diamonds (sometimes referred to as Type IIa) lack nitrogen and include some of the largest and highest quality diamonds recovered from mines around the world (for example, most notably the historic 1.758 Sewelô, the 1.109 carats Lesedi La Rona and the 813 carat Constellation diamonds from the Karowe mine in Botswana, as well as the famous Cullinan diamond +3000 carats from the Premier mine in South Africa, and a flawless D color, 271 carat stone from the Victor mine De Beers Diamond Mine in northern Ontario), although they are rare and represent only 1 to 2% of global diamond production (see Table 1 of the Tres-Or press release of December 8, 2020 ).
Guigues microdiamonds are also predominantly described (90%) by SRC reviewers as white / colorless and transparent.
[Note: Type II diamonds are defined as lacking nitrogen; they are equivalent to Type IIa diamonds which are additionally defined as lacking trace boron impurities which results in a blue color, such as the famous Hope diamond. Nitrogen measurements were conducted by the Saskatchewan Research Council Geoanalytical Laboratories Diamond Services (SRC) on all Guigues +0.150 mm microdiamonds, using the industry-standard technique of micro-Fourier Transform Infrared Spectroscopy (FTIR). SRC does not report boron, thus all analyses lacking nitrogen are reported as Type II.]
Note that although the recovery of Type II microdiamonds from the Guigues kimberlite suggests the presence of larger stones, this does not mean that the Guigues kimberlite will necessarily host large Type II diamonds.
Recommended work program:
In light of the successful recovery of predominantly abundant Type II microdiamonds closely comparable to those reported in the Victor Diamond Mine (Winzar, 2001), as well as similar diamond indicator mineral chemistry, further work is recommended to the Kimberlite of Guigues.
Next steps of work, which are expected to begin immediately, include testing the remaining drill core from the December 2019 drill program for macrodiamonds, followed by additional testing of microdiamonds, and later this summer, drilling 2 to 5. new additional coring holes at Guigues Kimberlite. Pipe to refine its 3-dimensional shape and improve understanding of the distribution of macros and microdiamonds throughout the kimberlite body.
Winzar, DJ, 2001. Evaluation report on the 2001 winter reverse circulation drilling program for the Alpha-1 and Alpha-1 North kimberlites. De Beers Exploration Inc. Filed with the Ontario Geoscience Assessment Office and available online at http://www.geologyontario.mndmf.gov.on.ca
Tres-Or closes the third tranche of flow-through private placement:
Tres-Or Resources Ltd. also announces that, following its press releases of December 14, 2020 (first tranche) and February 2, 2021 (second tranche), it has closed the third tranche of its private transit placement (the “FT units“). In connection with this closing, the Company issued 564,000 FT units at a price of $ 0.15 per FT unit for total gross proceeds of $ 84,600 (the”Offer“).
Each FT unit consists of one flow-through common share (a “FT Sharing“) and one-half common share purchase warrant. Each whole warrant (a”To guarantee“) gives its holder the right to purchase one non-flow-through common share of the Company for a period of 24 months from the date of issue at a price of $ 0.20 per share. FT shares give the bearer right to benefit from the tax advantages applicable to flow-through shares, in accordance with the provisions of Income Tax Act (Canada).
The gross proceeds from the FT share issue will be used only for exploration expenses in Canada (“EEC“) which are” flow-through mining expenditures “(as these terms are defined in the Income Tax Act (Canada)) on the Company’s Guigues Kimberlite Pipe in Quebec.
All securities issued under this third tranche of the placement are subject to a legal hold period ending September 8, 2021 in accordance with applicable Canadian securities laws.
About Tres-Or Resources Ltd.
Tres-Or Resources Ltd. is a Canadian resource company engaged in the exploration of diamonds and gold resources in the Témiscamingue and Abitibi regions of Quebec and is listed on the TSX Venture Exchange under the symbol “TRS”. Additional information relating to the Company is available on SEDAR and on the Company’s website (www.tres-or.com).
On behalf of the board of directors
“Laura Lee Duffett”
Laura Lee Duffett, P.Geo.
President and CEO
For more information:
Laura Lee Duffett, President and CEO: +1 (604) 541-8376 – [email protected]
Dean Claridge, Business Development: +1 (604) 688-8700
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Disclosure of a scientific or technical nature relating to the Company’s exploration projects and activities in this press release has been prepared under the supervision of Dr. Harrison O. Cookenboo, B.Sc., M.Sc., Ph.D. ., P.Geo., The independent qualified person of the company (as that term is defined in National Instrument 43-101), and Ms. Laura Lee Duffett, P.Geo., President and Chief Executive Officer of the Company, who is a non-independent Qualified Person, both of whom have reviewed and approved the technical and scientific portions of this press release.
This press release contains projections and forward-looking information that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization, resources, reserves, exploration results and the plans and objectives of the Company. These risks and uncertainties include, but are not limited to, the initial development of the company and its projects; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and their interpretation, and the need for adequate funding for future exploration and development efforts. There can be no assurance that these statements will prove to be correct. Actual results and future events could differ materially from those anticipated in these statements. These statements and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management as of the dates on which they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions change.
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