DENVER, April 21, 2005 (PRIMEZONE) -- Trend Mining Company (OTCBB:TRDM) announced today that geophysical surveys at its Diabase Peninsula project on Cree Lake will be extended with airborne surveys by early summer. Geophysical anomalies are being targeted by the current survey in order to define targets for a diamond drilling program contemplated for later this year. The work is being carried out by Nuinsco Resources Limited (TSX:NWI), which holds an option to earn a 50% interest in the project by spending $1 million ($CDN) over three years.
The Diabase Peninsula Property consists of eight claims encompassing 21,040 hectares (approximately 81 square miles) on the western shore of Cree Lake approximately five kilometres north of the southern boundary of the Athabasca Basin. To date, ground geophysical crews have completed a Transient EM (electromagnetic) survey on a grid established over the central part of the claim group. Approximately 68 kilometers of grid line has been surveyed to trace and define geophysical conductors known to underlie the Diabase Peninsula Property at depths of 150-400 meters beneath sedimentary rocks of the Athabasca Basin. Results of the survey will be reported when received by the Company.
Subsequently, Nuinsco plans to have the entire property covered by an airborne EM survey by early summer. The survey will extend geophysical coverage over favorable structures, such as the Cable Bay Shear Zone, known to underlie the claim group with a northeasterly bearing. Little work has been conducted along this structure away from the historic surveys to the south that date from the 1970s and early 1980s.
Electromagnetic surveys are used to explore for buried unconformity-related uranium mineralization in the Athabasca Basin. Historic work has established the presence of highly prospective alteration of sandstone boulders and also of geophysical anomalies underlying the claim group. The geophysical anomalies suggest the presence of graphitic units, which provide a favorable environment for the formation of uranium deposits, and, in the instance of Diabase Peninsula, Nuinsco is using the geophysics to search for the graphite-bearing Cable Bay Shear Zone, a geologic structure considered to be an important locus for uranium mineralization in this part of the Athabasca Basin.
Trend Mining Company is a U.S.-based mineral exploration company focused on platinum-palladium projects in Montana, Wyoming, and Saskatchewan as well as uranium exploration in Saskatchewan.
Throughout this press release there are forward-looking statements and assumptions made by management within the meaning of Section 27A 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.