Located in the heart of the Newfoundland gold rush, TRU Precious Metals doubles its drilling program
Newfoundland in Canada is currently experiencing a gold rush, despite having mining operations since the 1770s. Newfoundland and Labrador ranked eighth globally in overall investment attraction in the most recent Fraser Institute Annual Survey of mining companies.
The Newfoundland excitement began in early 2020 when New Found Gold Corp. announced a discovery of 92.86 g/t gold over 19m (included 285.2 g/t Au over 6.0 meters). Anything over 5 g/t is considered high grade. Since then numerous junior miners have flocked to Newfoundland to stake their claim. One Company was early enough to claim a massive 23,000 hectares of land in the highly prospective Central Newfoundland Gold Belt, with one of their projects virtually next door to Marathon Gold Corp.’s Valentine Project (P&P reserves of 1.87 million oz Au & and M&I 3 million oz Au) and another one adjacent to New Found Gold’s Project.
The Company is TRU Precious Metals Corp. (TSXV: TRU | OTCQB: TRUIF) (“TRU”). TRU is a relatively new gold exploration company that has assembled a portfolio of 5 gold exploration properties (23,000 hectares) in the highly prospective Central Newfoundland Gold Belt. All projects are either 100% owned or with an option to purchase 100%. TRU’s flagship Golden Rose Project lies just near the Valentine Project which holds the largest undeveloped gold resource in Atlantic Canada.
TRU Precious Metals Corp.’s 5 well located Newfoundland projects shown in yellow
Source: Company presentation
TRU Precious Metals Corp.’s fully-funded summer (June-August) 2021 exploration program is now underway
Having successfully raised $3.5 million in May 2021, TRU has now begun a fully-funded exploration campaign across four of their Newfoundland projects – namely Golden Rose, Twilite Gold, Gander West, and Rolling Pond.
Perhaps Golden Rose holds the greatest promise due to its premier location between the successful Marathon Gold Corp.’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. TRU will embark on a multi-phase exploration program throughout the remainder of 2021 to further delineate the known areas of gold mineralization and test new zones. Highlights of recently uncovered gold occurrences (by the previous owners) which have yet to be tested by TRU include Rose Gold, Jacob’s Pond and Jen’s Pond. At Rose Gold original grab samples assayed 18.8 g/t Au and 7.2 g/t Au and follow up prospecting in 2019 returned a 20.2 g/t Au sample. By sometime in Q3 2021, TRU plans to do a 5,000 metre diamond drill program at Golden Rose.
Announced on June 1, 2021, TRU has commenced a minimum Phase one 1,200-metre drill program at its 100% owned Twilite Gold Project. Interestingly just a week later the drill program was doubled to “up to approximately 2,500 meters“. It is a bit early yet to get excited, however, TRU Co-Founder, President, and CEO, Joel Freudman, sounds super excited about the companies chances, as you can view here in an exclusive interview with InvestorIntel titled “Joel Freudman on TRU Precious Metals and the ‘once-in-a-lifetime modern day gold rush’ in Newfoundland.” CEO Joel stated: “We are in a once-in-a-lifetime modern day gold rush…happening right now in Newfoundland Canada…..We are in it to win it.”
TRU state in the news release (regarding the upcoming drilling at the Twilite Gold Project):
“The drill target was previously identified by TRU during a detailed ground geophysical survey in November of 2020…..Twilite Gold is strategically located on the mapped extension of the Cape Ray-Valentine Lake Shear Zone. Numerous advanced-stage gold exploration projects are currently underway along this district-scale shear zone, including Marathon Gold’s multi-million-ounce deposit at Valentine Lake, and Matador Mining’s Cape Ray deposit.”
TRU Precious Metals Corp.’s Twilite Gold Project where up to 2,500 metres of drilling is commencing in June 2021
Source: Company presentation
TRU Precious Metals Corp. trades on a market cap of C$19.7 million with the stock up 114% in the past year. With exploration moving into top gear now over the Canadian summer it looks to be a good time to consider a position in TRU Precious Metals Corp. A large gold find would get CEO Joel even more excited and potentially be a big positive for early stage investors. Fingers crossed and stay tuned for drill results in the coming months.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>