Toronto, March 9, 2022 - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE:706) ("TRU" or the "Company") is pleased to announce new assay results from an additional 4 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland ("Golden Rose").
10.0 metres (m) of 1.14 grams per tonne (g/t) gold starting at 52.0 metres in drill hole WL-21-04, which forms the base of a longer 56.0 metre interval grading 0.4 g/t gold starting from the bedrock surface.
7.0 metres of 1.81 g/t gold starting from 77.0 metres in hole WL-21-10, which forms the base of a longer 70 metre interval starting at 19.0 m and grading 0.37 g/t gold.
1.5 metres of 3.60 g/t gold starting from 27.5 metres in hole WL-21-01, plus an additional 22.0 metres of 0.55 g/t gold starting at 38.0 metres, including 3.0 metres of 1.96 g/t gold at the base of the intercept.
TRU has now reported on 11 holes in total with assays from 11 holes still pending. Reported drilling results now define a primary gold zone that is 800m in strike length (from holes WL-21-06 to WL-21-14) and is open both along strike and at depth.
"I am very pleased to report that our drilling has now hit gold mineralization in 9 out of 9 of the holes reported so far at Woods Lake," commented Stephen Lautens, President of TRU. "Consistency of results is very important in building a successful story of exploration, and these near-surface results are a solid basis for further and expanded exploration. We are also looking forward to exploring a number of other highly prospective targets that have shown even greater gold values at surface."
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7m, covering both the Woods Lake Gold Zone prospect ("Woods Lake") and the King George IV Lake area ("KG4"). Golden Rose is a regional-scale 236 square kilometre (km) land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, and is located directly between Marathon Gold's Valentine Gold Project and Matador Mining's Cape Ray Gold Project.
Barry Greene, VP of Property Development and Director of TRU, added: "The thick, near surface, gold zone encountered in holes WL-21-01, WL-21-04 and WL-21-10 are indicative of a bulk tonnage gold target. Gold mineralization in hole WL-21-10 actually straddles the faulted contact between the hanging wall Bay du Nord group metasediments and the underlying monzogranite. We continue to be impressed by the voluminous intersections of altered and mineralized felsic intrusive in this drill program."
Table 1 - Woods Lake uncut assay highlights
|Hole No. ||From (m) ||To (m) ||Interval (m) ||Au (g/t) ||Zone |
|WL-21-01 ||27.50 ||29.00 ||1.50 ||3.60 ||Woods |
|And ||38.00 ||60.00 ||22.00 ||0.55 |
|Including ||57.00 ||60.00 ||3.00 ||1.96 |
|WL-21-04 ||7.00 ||62.00 ||56.00 ||0.40 |
|Including ||52.00 ||62.00 ||10.00 ||1.14 |
|And ||74.00 ||76.00 ||2.00 ||2.48 |
|And ||146.00 ||147.00 ||1.00 ||4.96 |
|WL-21-10 ||19.00 ||88.00 ||70.00 ||0.37 |
|And ||77.00 ||84.00 ||7.00 ||1.81 |
|WL-21-14 ||86.60 ||88.87 ||2.27 ||0.98 |
Figure 1 - Woods Lake Drill Hole Locations
To view an enhanced version of Figure 1, please visit:
Table 2 - Woods Lake Collar Details
|Hole No. ||Azimuth (°) ||Inclination (°) ||Length (m) ||UTM E ||UTM N |
|WL-21-01 ||040 ||-52 ||110 ||441526 ||5334260 |
|WL-21-04 ||040 ||-45 ||151 ||441642 ||5334234 |
|WL-21-10 ||040 ||-45 ||128 ||441625 ||5334212 |
|WL-21-14 ||040 ||-45 ||105 ||441107 ||5334635 |
The gold intercept in WL-21-14 was testing a gold soil geochemical anomaly that was along strike to the northwest from the main Woods Lake gold zone. This hole intersected quartz veining with arsenopyrite and pyrite in sedimentary rocks, indicating that gold can be encountered not only in the felsic intrusive, but also in the surrounding rocks.
Drilling Quality Assurance/Quality Control ("QA/QC")
All HQ core is geotechnically measured for RQD's, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. ("Eastern Analytical") of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. True widths for reported intervals have yet to be determined. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified PersonBarry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone directly between Marathon Gold's Valentine Gold Project and Matador Mining's Cape Ray Gold Project. TRU's common shares trade on the TSX Venture under the symbol "TRU", on the OTCQB Venture under the symbol "TRUIF", and on the Frankfurt exchange under the symbol "706".
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent's website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
To connect with TRU via social media, below are links:
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to exploration plans and drill program results at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company's drilling program and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116033