DENVER, Dec. 6, 2006 (PRIME NEWSWIRE) -- Trend Mining Company (OTCBB:TRDM) (www.trendmining.com) is pleased to report results from drilling at its Diabase Peninsula uranium property in Saskatchewan's Athabasca Basin. This recent 2,800 meter, four-hole program returned uranium values as well as key indicator minerals often associated with uranium deposits in the Basin which, combined with past drilling and other studies, indicate that uranium mineralizing processes appear to have been active on the property and point toward the local presence of unconformity-style mineralization. As a result of these positive results, Trend's partner and project operator, Nuinsco Resources (TSX:NWI) (www.nuinsco.ca), plans an expanded drill program for 2007.
A photo accompanying this release is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3098
The drilling and other studies completed by Nuinsco, such as lineament analysis, geophysical response, geochemistry, mineralogy-petrography, and lead-isotope studies, continue to suggest that the Diabase Peninsula Property is well located to host a uranium deposit. The Cable Bay Shear Zone, a potential trap for uranium-bearing fluids, is widespread on the property and is cross-cut by late, reactivated faults which could enable the concentration of uranium-bearing mineralizing fluids. These geologic factors suggest that unconformity-style mineralization is a possibility.
Four drill holes (ND-06-08, 06-06, 06-05 and 05-01 - see map) contain numerous anomalous uranium values ranging up to 29.8 ppm uranium in ND-06-05 (anomalous threshold greater than 2.0 parts per million ("ppm")), and anomalous nickel, cobalt, and arsenic values ranging from anomalous thresholds of 5.0 ppm, 1.2 ppm and 4.0 ppm respectively and peaking at 275.0 ppm, 162.0 ppm and 358.0 ppm respectively. All holes intersected the sulfide-graphite-bearing Cable Bay shear Zone, demonstrating the widespread distribution of a host structure favorable for uranium mineralization.
Following analysis of geochemistry from drill core, Dr. J.M. Franklin, former Chief Geoscientist with the Geological Survey of Canada, concluded that: 1) the combination of uranium-arsenic-nickel-cobalt-magnesium oxide, which typifies several of the mines in the Athabasca district, indicate that the influence of a mineralizing system in the area; 2) the presence of clay alteration (illite-kaolin) is another indicator of the passage of hydrothermal fluids capable of transporting uranium mineralization; and 3) elevated uranium/lead ratios provide evidence of local excess uranium, suggesting upward passage of uranium-bearing hydrothermal fluid into the sedimentary rocks.
Thomas Loucks, President and CEO of Trend, commented, "Continued exploration will be required to follow up these positive results, so Trend is extremely pleased that Nuinsco plans a very significant drill program for 2007, combining both infill holes and testing of the widespread targets identified from work to date."
The 21,900 hectare Diabase Peninsula property is located on the western shore of Cree Lake approximately five kilometers north of the southern boundary of the Athabasca Basin. Nuinsco is the operator and currently holds an approximate 70% interest in the property by virtue of its aggressive exploration expenditures. Terms of the Trend-Nuinsco joint venture allow for Trend to reclaim its original 50% interest in the project should Nuinsco take the project into development.
Trend Mining Company is a diversified, U.S.-based minerals company that offers investors exposure and leverage to discovery of base and precious metals and uranium. Trend's properties include its royalty interest in the Andacollo gold mine in Chile, along with a compelling portfolio of PGM, base metal, and uranium exploration projects in the United States and Canada. Trend stock trades on the OTC Bulletin Board (TRDM.OB).
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.
The photo is also available at NewsCom, www.newscom.com, and via AP PhotoExpress.
