Gem

Tres-Or Resources Ltd. (TSXV: TRS) (OTC: TRSFF) ("Tres-Or" or the "Company") is pleased to present the new photomicrographs of the Type II microdiamonds that dominate at the Guigues Kimberlite Pipe in southwestern Québec. Photographs of all 21 Guigues microdiamonds greater than 0.150 mm are now available to view on Tres-Or's website at: www.tres-or.com .

Highlights:

  • Type II diamond dominates microdiamond populations from the Guigues Kimberlite in southwest Québec
  • 16 out of 21 microdiamonds measured by SRC Labs, Type II, as defined by a lack of the common impurity nitrogen
  • Type II diamonds are rare (less than 2% of gem diamonds sold) but can be extremely valuable and include many of the most famous and largest stones ever sold
  • In addition to being favorable Type II diamonds, 90% of recovered microdiamonds from Guigues (53 out of 58) are described by SRC Labs as "white/colourless, and transparent"
  • Photographs of all 21 Guigues microdiamonds >0.150 mm are available for viewing on www.tres-or.com
  • Recommended work includes processing most of the remaining December 2019 drill core to recover diamonds larger than 0.425 mm
  • Subsequently, Tres-Or will drill 2 to 5 additional drill holes to better define the pipe (currently assessed at a substantial 4.5 to 6 hectares)

The photomicrographs were produced by the Saskatchewan Research Council Geoanalytical Laboratories Diamond Services ("SRC") from all 21 microdiamonds recovered from Guigues greater than 0.150 mm. Of those 21 microdiamonds, 16 were reported to be Type II diamond signifying a lack of any nitrogen impurity as determined at SRC using the industry-standard technique of micro-Fourier Transform Infrared Spectroscopy (FTIR)(refer to Tres-Or news releases dated December 8, 2020, January 5, 2021 and April 6, 2021).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2478/82906_14fe2acd84d42a37_001.jpg

Diamond Figure 1

To view an enhanced version of Diamond Figure 1, please visit:
https://orders.newsfilecorp.com/files/2478/82906_14fe2acd84d42a37_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2478/82906_14fe2acd84d42a37_002.jpg

Diamond Figure 2

To view an enhanced version of Diamond Figure 2, please visit:
https://orders.newsfilecorp.com/files/2478/82906_14fe2acd84d42a37_002full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2478/82906_14fe2acd84d42a37_003.jpg

Diamond Figure 3

To view an enhanced version of Diamond Figure 3, please visit:
https://orders.newsfilecorp.com/files/2478/82906_14fe2acd84d42a37_003full.jpg

Type II diamonds (sometimes referred to as Type IIa) lack nitrogen and famously include some of the largest, highest quality diamonds recovered at mines around the world (e.g. including the historic 1,758 Sewelô, the 1,109 carat Lesedi La Rona and the 813 carat Constellation diamonds from the Karowe Mine in Botswana, as well as the famous +3,000 carat Cullinan diamond from the Premier Mine in South Africa, and a flawless D color, 271 carat stone from De Beers' Victor Diamond Mine in northern Ontario), although they are rare and only make up an estimated 1 to 2% of diamond production world-wide (see Table 1 from Tres-Or December 8, 2020 news release).

The Guigues microdiamonds are also described dominantly (90%) by SRC evaluators as white/colourless and transparent.

[Note: Type II diamonds are defined as lacking nitrogen; they are equivalent to Type IIa diamonds which are additionally defined as lacking trace boron impurities which results in a blue color, such as the famous Hope diamond. Nitrogen measurements were conducted by the Saskatchewan Research Council Geoanalytical Laboratories Diamond Services (SRC) on all Guigues +0.150 mm microdiamonds, using the industry-standard technique of micro-Fourier Transform Infrared Spectroscopy (FTIR). SRC does not report boron, thus all analyses lacking nitrogen are reported as Type II.]

Note that although the recovery of Type II microdiamonds from the Guigues Kimberlite is suggestive of the occurrence of larger stones, this does not mean that the Guigues Kimberlite will necessarily host large Type II diamonds.

Recommended Work Program:

In light of the successful recovery of dominantly Type II microdiamonds in abundances closely comparable to those reported from the Victor Diamond Mine (Winzar, 2001), as well as similar diamond indicator mineral chemistry, further work is recommended at the Guigues Kimberlite.

The next work steps, which are anticipated to begin immediately, include testing the remaining drill core from the December 2019 drill program for macrodiamonds, followed by additional microdiamond tests, and later this summer, drilling 2 to 5 additional new core holes at the Guigues Kimberlite Pipe to refine its shape in 3 dimensions, and enhance understanding about macro- and microdiamond distribution throughout the kimberlite body.

Reference:

Winzar, D.J., 2001. Assessment Report on the Winter 2001 Reverse Circulation Drill Programme of the Alpha-1 and Alpha-1 North Kimberlites. De Beers Exploration Inc. Filed with Ontario's Geoscience Assessment Office and available online from http://www.geologyontario.mndmf.gov.on.ca

Tres-Or Closes Third Tranche of Flow-through Private Placement:

Tres-Or Resources Ltd. also announces that, further to its news releases of December 14, 2020 (first tranche) and February 2, 2021 (second tranche) it has closed the third tranche of its private placement of flow through (the "FT Units"). In this closing, the Company issued 564,000 FT Units at a price of $0.15 per FT Unit for total gross proceeds of $84,600 (the "Offering").

Each FT Unit consists of one flow-through common share (a "FT Share") and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") entitles the holder to purchase one non-flow-through common share of the Company for a period of 24 months from the date of issue at a price of $0.20 per share. The FT Shares entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

The gross proceeds from the issuance of FT Shares will be used solely for Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's Guigues Kimberlite Pipe in Québec.

All securities issued in this third tranche of the Offering are subject to a statutory hold period ending September 8, 2021 in accordance with applicable Canadian securities laws.

About Tres-Or Resources Ltd.

Tres-Or Resources Ltd. is a Canadian resource company focused on exploring for diamonds and gold resources in the Témiscamingue and Abitibi regions of Québec and is listed on the TSX Venture Exchange under the trading symbol "TRS". Additional information related to the Company is available on SEDAR and on the Company's website (www.tres-or.com).

On behalf of the Board of Directors

"Laura Lee Duffett"

Laura Lee Duffett, P.Geo.
President and CEO

For further information:
Laura Lee Duffett, President & CEO: +1 (604) 541-8376 - info@tres-or.com
Dean Claridge, Business Development: +1 (604) 688-8700
Website: www.tres-or.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Qualified Persons

Disclosure of a scientific or technical nature related to the Company's projects and exploration activities in this news release was prepared under the supervision of Dr. Harrison O. Cookenboo, B.Sc., M.Sc., Ph.D., P.Geo., the Company's independent Qualified Person (as such term is defined in National Instrument 43-101), and Ms. Laura Lee Duffett, P.Geo., the Company's President and CEO, who is a non-independent Qualified Person, both of whom have reviewed and approved the technical and scientific portions of this news release.

Forward-Looking Statements

This news release contains projections and forward-looking information that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization, resources, reserves, exploration results and plans and objectives of the Company. These risks and uncertainties include, but are not restricted to, the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82906

News Provided by Newsfile via QuoteMedia

STAR DIAMOND CORPORATION ANNOUNCES SECOND QUARTER 2022 RESULTS

TSX: DIAM

Star Diamond Corporation ("Star Diamond" or the "Company") today reported its financial results for the quarter ended June 30, 2022 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

LUCARA ANNOUNCES STRONG Q2 2022 FINANCIAL AND OPERATIONAL RESULTS AS UNDERGROUND SHAFT SINKING COMMENCES

TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") today reports its results for the quarter ended June 30, 2022 . Please view PDF version

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

/C O R R E C T I O N from Source -- Lucara Diamond Corp./

In the news release, LUCARA SECOND QUARTER 2022 RESULTS TO BE RELEASED WEDNESDAY, AUGUST 10, 2022 , issued 27-Jul-2022 by Lucara Diamond Corp. over CNW, we are advised by the company that the Conference Call's UK Toll free Dial-In Number has been updated. The complete, revised copy follows:

LUCARA SECOND QUARTER 2022 RESULTS TO BE RELEASED WEDNESDAY, AUGUST 10, 2022

TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Mountain Province Diamonds Announces Second Quarter and Half Year 2022 Results

TSX:MPVD and OTC: MPVDF

Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) (OTC: MPVDF) today its financial and operating results for the second quarter ("Q2 2022") and first half 2021 ("H1 2022") ended June 30, 2022 . All figures are expressed in Canadian dollars unless otherwise noted.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

LUCARA SECOND QUARTER 2022 RESULTS TO BE RELEASED WEDNESDAY, AUGUST 10, 2022

TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") announces that it will be publishing its 2022 Second Quarter Results on Wednesday, August 10, 2022 after market close in North America . View PDF version

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

LUCARA FOUNDER AND FORMER CHAIRMAN AND DIRECTOR LUKAS H. LUNDIN PASSES AWAY

TSX: LUC) (BSE: LUC) (LUC Nasdaq Stockholm) Lucara Diamond Corp. ("Lucara" or the "Company") regrets to announce the death of Company founder and former Chairman and member of the Board of Directors, Mr. Lukas H. Lundin in Geneva, Switzerland on July 26, 2022 at the age of 64, following a two-year battle with brain cancer. Please view PDF version

Over the past 40 years, Lukas Lundin was the driving force behind the tremendous success of The Lundin Group of Companies. Lukas started his career in the international energy and mining sectors in the early 1980s working side-by-side with his father, the late Adolf H. Lundin .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×