DENVER, Feb. 24, 2005 (PRIMEZONE) -- Trend Mining Company (OTCBB:TRDM) is pleased to announce that its partner in uranium exploration, Nuinsco Resources Limited (TSX Venture Exchange:NWI), is commencing its geophysical program on the Diabase Peninsula uranium project at Cree Lake in Northern Saskatchewan. Nuinsco has an option to earn a 50% interest in the project by spending $CDN 1 million over three years. Comprising three mining claims encompassing approximately 4234 hectares (16 square miles), the project is located on the western shore of Cree Lake. The claims were acquired because of their prospective locality and geochemical signature -- indicating the potential for nearby unconformity-type uranium mineralization. High grade uranium mineralization is a hallmark of Saskatchewan's unconformity-type uranium deposits.
Previous exploration on and near the claim group during the 1970s and early 1980s consisted of lake sediment and drift sampling geochemistry, airborne and ground geophysics and limited diamond drilling. This work identified extensive areas of intense hydrothermal alteration consisting of clay and chlorite in sandstone. Also occurring at elevated levels within the sandstone are uranium, lead, vanadium, and yttrium. Alteration of this type and pattern has been observed to be closely associated with a number of areas of unconformity-type uranium mineralization in the Athabasca Basin. The alteration is coincident with electromagnetic conductors believed to be caused by graphite mineralization in the basement rocks beneath the Athabasca sediments: these horizons are thought to exert significant control on uranium deposition and hence serves as a useful exploration guide.
Grid control will be established over the central part of the property in preparation for a geophysical survey. EM geophysics will subsequently assess the terrain for conductive signatures and extend and refine those established from nearby historic surveys.
Several factors point to this property's being an exceptional prospect for uranium mineralization: the strong indication of hydrothermal activity in the area, manifested in zones of clay and chlorite alteration observed at surface and in drill core; the presence of trace element anomalies known to be associated with uranium mineralization elsewhere in the Athabasca Basin; the presence of EM conductors interpreted to be caused by graphite in the basement; the relatively shallow depth of the unconformity beneath the property. Additionally exploration, particularly diamond drilling, has been limited in the immediate area of the Diabase Peninsula providing ample scope for upcoming exploration by Nuinsco.
Trend Mining Company is a U.S.-based exploration company that has 100% ownership and a large land position at two North American precious metals properties with potential for hosting significant amounts of platinum, palladium, gold and other metals as well as one uranium project in Saskatchewan with potential for hosting high grade, unconformity-type uranium mineralization.
Throughout this press release there are forward looking statements and assumptions made by management within the meaning of Section27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor created by those sections. Factors that could cause results to differ materially from those projected are, but not limited to, adverse price fluctuations of underlying metals, the company's ability to acquire and develop properties, competition from larger more established companies, the ability to finance future acquisitions and projects, and governmental regulation. Trend Mining Company believes that the projects it has entered into and those it will enter into show promise, but there can be no guarantee of that. This press release is for informational purposes only and should not be construed as an offer to solicit, buy, or sell any security.