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TRES OR UPDATE ON THE ADVANCED DUVAY GOLD PROJECT, QUEBEC
TRES OR UPDATE ON THE ADVANCED DUVAY GOLD PROJECT, QUEBEC
About this update from Tres-or Resources Ltd.
[{"type":"text","content":"\nTRES OR UPDATE ON THE ADVANCED DUVAY GOLD PROJECT, QUEBEC\n\n\n Sep. 20, 2010 (TheNewswire.ca) -- Tres-Or Resources Ltd (\"Tres-Or\") is pleased to provide an update on field exploration activities on the Duvay Gold Property, an advanced gold project located in northwestern Quebec, and to announce the acquisition of the large and adjacent Duvay North Property. Duvay and Duvay North are located 15 to 20 km northeast of the regional center of Amos, in the Abitibi region of Quebec. This region has numerous historical gold showings and occurrences including Tres-Or's Duvay Gold Property (sometimes referred to as the Duvay-Obalski gold occurrence; see for example news release by Bowmore Exploration Ltd. (OOTC:BWMXF) (TSXV:BOW) dated August 10, 2010) where free gold was discovered in the late 1930s, and considerable stripping, blasting and shallow drilling has occurred over ensuing decades. Tres-Or executed an Option Agreement to acquire up to 100% interest in the Duvay Gold Property in May, 2010 with Sementiou Inc., subject to a Gross Metals Royalty in favour of Globex Mining Enterprises (TSX:GMX) Inc. of 1.5% (where gold is US$800 per ounce or less) and 2.0% (where gold is US$800 per ounce or greater)(see Tres-Or news release dated May 25, 2010). This area in Quebec has been a focus of considerable recent gold exploration and staking activity including Bowmore's acquisition of claims adjacent to Tres-Or's Duvay Gold Property on 3 sides.Duvay North comprises 1,785 hectares, including a reported historical drill hole intersection of 6.5 grams per tonne gold over 0.3 m from 1946 (Quebec government showing report GM307-b) and is on a structural trend with several more showings. Tres-Or's Duvay projects, including the Duverny property recently acquired by Aurizon Mines Ltd. (AMEX:AZK) (TSX:ARZ) , lie within a mafic volcanic belt with gold mineralization associated with extensive quartz vein systems and fold structures.Tres-Or concluded an agreement to acquire 76% in the Duvay North Property on September 17, 2010 from Sementiou Inc. for a cash payment of $25,000 and a work commitment of $50,000 in the first two years, followed by another $25,000 of work in the third year. Sementiou retains 24% and no royalty applies.Tres-Or's current field work includes detailed geological mapping and a high-resolution ground magnetic survey covering th...