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Detour Gold Corp
Symbol DGC
Shares Issued 101,761,664
Close 2012-01-16 C$ 27.90
Market Cap C$ 2,839,150,426
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Detour Gold starts 70,000 m of drilling at Detour Lake

2012-01-17 13:15 ET - News Release

Mr. Gerald Panneton reports

DETOUR GOLD STARTS 2012 DRILLING PROGRAM ON DETOUR LAKE PROPERTY

Detour Gold Corp. has started the 2012 exploration program on its flagship Detour Lake property located in Northeastern Ontario. The company will focus its exploration activities on the near-surface resources defined on block A and the Lower Detour deformation zone (LDDZ), a regional structure similar to the Sunday Lake deformation zone (SLDZ), located approximately five kilometres south. A total of 70,000 metres of diamond drilling is planned for the first half of 2012 with six drill rigs.

Block A open-pit resource

In 2012, the company plans to start a prefeasibility study on the block A near-surface gold deposit located to the northwest of the Detour Lake open pit. The company has started a 50,000-metre drilling program with four drill rigs to infill the near-surface M zone on a 40 m by 40 m spacing. Some of the holes will also be testing the footwall mineralization, which represents the upper extension of the QK zone (underground mineralized zone defined by Placer Dome in the mid-1990s). The drilling program will focus between Section 15,200E and Section 16,780E to advance the definition drilling of a potential small open pit around the M zone. The open-pit mineral resources defined at the end of 2010 contained an indicated resource of 1.9 million ounces (70.8 million tonnes grading 0.85 gram per tonne) with an additional 762,000 ounces (27.3 million tonnes grading 0.87 g/t) in the inferred category.

The prefeasibility study work planned for this year will also include metallurgical testing, geotechnical work and all necessary baseline studies in preparation for an environmental assessment.

Lower Detour deformation zone

The company has started an initial 20,000-metre drilling program with two drill rigs to test a portion of the known 40-kilometre LDDZ, which has similar characteristic to the SLDZ that hosts the Detour Lake gold deposit (2010 year-end mineral reserves of 14.9 million ounces at a gold price of $850 (U.S.) per ounce gold).

The drilling program will start with a series of north-south fences of holes along prior high-grade gold intersections 53.0 g/t Au over three metres (Placer Dome) and 22.6 g/t Au over one metre (DXCQ-11-01 by Detour Gold) to better understand the gold mineralization, alteration and stratigraphy. Relogging of prior holes in the area indicate an increase in the potassic (biotite) alteration to the south. Results from the MMI (mobile metal ion) geochemical survey and sampling of outcrops found in the area also indicate potential gold mineralization to the south.

Results from the MMI (mobile metal ion) geochemical survey conducted over approximately 30 kilometres along the LDDZ indicate a number of gold anomalies along the trend. Additional MMI sampling and IP (induced polarization) geophysics are also planned along the LDDZ in 2012.

Conquest joint venture

Approximately 2,000 metres of drilling are planned on the Sunday Lake property, located east of the Detour Lake deposit along the SLDZ. Detour Gold is earning a 50-per-cent interest in the property.

Detour Lake project

The company plans to announce its 2011 year-end mineral resource and reserve update in early February, 2012. For the new mineral reserve estimate, the company will be using a gold price of $850 (U.S.) per ounce and the same pit shell that currently contains mineral reserves of 449.5 million tonnes averaging 1.03 g/t for 14.9 million ounces of gold estimated at a gold price of $850 (U.S.) per ounce. Approximately 67,587 metres (or 78 per cent) of the 2011 drilling program, which focused on converting inferred resources into reserves, will be included in the update. The project remains on schedule for gold production to start in the first quarter of 2013.

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