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TRU Precious Metals Drills More Gold at Golden Rose Project and Releases Woods Lake Gold Zone Model07.04.2022 | 13:45 Uhr | Newsfile
Toronto, April 7, 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 5 of the 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland ("Golden Rose"). In addition, TRU is releasing a longitudinal cross section model (see Figure 1) of the Woods Lake Gold Zone ("Woods Lake"), which was the primary focus of that drill program. TRU has now reported on 16 holes in total, with assays from the remaining 6 holes still pending. This includes 4 holes at the King George IV area ("KG4") and 2 holes at Woods Lake. Reported drilling results at Woods Lake now define a primary gold zone that is 800 metres (m) in strike length (from holes WL-21-06 to WL-21-14) and is open both along strike and at depth. Highlights
TRU Co-Founder and CEO Joel Freudman commented: "This early drilling success at Golden Rose only scratches the surface of the substantial potential and underexplored nature of this property. Woods Lake was the sole previously known gold zone at Golden Rose, and we are pleased with our results there to date, yet we expect numerous additional mineralized areas remain to be discovered and or proved up across the property. As such, we are also excited about our 2022 work and exploration program already underway at Golden Rose. We are grateful to our exploration team, thank them for their hard work so far and look forward to their ongoing contributions to TRU's continued exploration success. We remain focused on executing our exploration strategy and will continue to deliver meaningful progress and results in the coming months." 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 Woods Lake and 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: "Our drill data continues to successfully define a potential bulk tonnage gold zone at Woods Lake. As we input infill drilling assays to our gold zone model, it points to a zone that appears to plunge in two directions. This will provide additional vectors in which to target deeper drilling. We feel this is further evidence of the inherent value at Golden Rose and are, therefore, evermore excited about our current property-wide work program underway." Table 1 - Woods Lake Uncut Assay Highlights.
To view an enhanced version of Figure 1, please visit: This model is further evidence that Woods Lake lies within a significant and complex fold structure (flexure), localized along the Valentine Lake Shear Zone. Mineralizing fluids likely deposited in a pressure shadow environment related to the fold geometry. More work including deeper drilling is required to interpret the significance of what is shaping up as a doubly plunging mineralized zone, and further attests to the structural complexity of this area and its mineral potential.
To view an enhanced version of Figure 2, please visit: Table 2 - Woods Lake Collar Details.
Drill holes WL-21-07 and WL-21-08 were exploratory scout holes testing an historical IP anomaly to the northwest of Woods Lake and did not return significant gold values. WL-21-16 also did not return significant gold values. Separately, the Company reports that certain of its directors, officers, employees, and consultants have voluntarily forfeited an aggregate of 2,590,000 stock options with exercise prices above $0.25 per share, in order to streamline the Company's capital structure. Drilling Quality Assurance/Quality Control ("QA/QC") Qualified Person 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: Joel Freudman To connect with TRU via social media, below are links: Twitter LinkedIn YouTube Acknowledgement TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program. Cautionary Statements 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/119551 Dieser Artikel stammt von Rohstoff-Welt.de
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