TRU Precious Metals Advances Phase One Exploration Program at Gander West Property
May 25, 2021 (Source) — TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that it has recently commenced its inaugural mapping, soil sampling, till sampling and prospecting program at its Gander West exploration property in Central Newfoundland (the “Gander West Property” or “Gander West”).
The wholly owned Gander West Property consists of 120 claims covering 3,000 hectares of prospective ground. The Gander West Property is located near the Trans-Canada Highway and approximately 16 kilometres (km) from the Keats zone at New Found Gold Corp.’s Queensway Project, where New Found Gold reported drill intercepts on May 21, 2021 of 146.2 grams per tonne gold over 25.6 meters.1
The Gander West Property is mostly unexplored and is located in the midst of a well-known gold belt, along a strong NE-SW structural lineament within a magnetic-low corridor, and immediately south of a prominent magnetic-high anomaly. High-grade gold occurrences (>50g/t Au in grab samples) occur in quartz veins 2.5 km southwest of the Gander West Property.2 Additionally, a high-grade gold occurrence known as Little Joanna occurs approximately 5 km along strike to the northeast. Historic grab sampling from Little Joanna returned values ranging from 40 parts per billion (ppb) Au to 734 g/t Au.3 The local geological features and nearby showings are set out in the two images below.
Vice President of Property Development of TRU, Barry Greene, commented, “After the first week of exploration at Gander West, crews have already collected grab samples of quartz veins containing sulphide mineralization and have noted the presence of structural features consistent with a northeast-southwest trending fault system. This is consistent with our geophysical and topographic interpretation of a regional scale structural linear.”
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The Gander West Property Overview
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The Gander West Property is already permitted for exploration, including ground geophysics, geochemical surveys, and prospecting.
TRU expects this limited field program to yield valuable geological and geochemical data to aid in defining targets for a more detailed phase two follow-up. The presence of high-grade gold occurrences along strike both northeast and southwest of Gander West, elevated lake sediment geochemistry on the property, and the prominent topographical and geophysical lineament along the full 10 km length of the property, presents a solid model for initial groundwork.
Co-Founder and CEO of TRU, Joel Freudman, added, “We believe that Gander West holds exciting potential. Less than a year ago, we embarked on building a district-scale land package focusing on the Central Newfoundland Gold Belt. Today, we have multiple properties comprising a commanding portfolio all within this prolific gold region, and Gander West is one of these properties. We think the proximity of Gander West to New Found Gold’s bonanza discovery hole is a solid case to begin systematic early-stage exploration on the property, which has seen barely any historical work. We are cognizant that an early understanding of structural geology at Gander West and the broader region will only benefit us as we prioritize work on our various projects.”
Barry 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 has assembled a portfolio of 5 gold exploration properties in the highly prospective Central Newfoundland Gold Belt. The Company has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and 3 under-explored properties including its Rolling Pond Property (under option) bordering New Found Gold Corp.’s high-grade Queensway Project. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture Market 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 Canadian companies. For more information on Resurgent and its portfolio companies, please visit Resurgent’s LinkedIn profile at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
To connect with TRU via social media, below are links:
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.
Information and links in this press release relating to New Found Gold Corp.’s Queensway Project and Little Joanna are from sources believed to be reliable, but that have not been independently verified by TRU. These links are included in this press release as inactive textual references for reference purposes only and the information on or connected to these websites is not part of, or incorporated by reference into, this press release.
This press release contains certain forward-looking statements, including those relating to exploration at the Gander West Property and the Company’s other mineral exploration properties. These statements are based on numerous assumptions regarding the Gander West Property and the Company’s strategy and plans 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 the Gander West Property; the exploration potential of the Gander West Property and the nature and style of mineralization at the Gander West Property; 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.
2 Source: Newfoundland Government MODS – Mineral Occurrence Database System and other publicly available sources.
3 Source: Newfoundland Government MODS – Mineral Occurrence Database System and other publicly available sources.
4 Source: Newfoundland Government MODS – Mineral Occurrence Database System and other publicly available sources.