TRU Precious Metals Reports Additional Drill Results at Twilite Gold Project and Prepares for Drilling at Golden Rose Project
September 15, 2021 (Source) — TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce additional assays from its 12-hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in the Central Newfoundland Gold Belt (“Twilite Gold”). The Company is also providing an update on drilling preparations at its flagship Golden Rose Project (“Golden Rose”), also in the Central Newfoundland Gold Belt located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone.
Highlights from the latest batch of Twilite Gold drill results (Tables 1 and 2) include:
- 6.00 metres (m) grading 1.06 grams per ton (g/t) gold (Au) in drill hole TL-21-18.
- 3.00m grading 0.85 g/t Au in drill hole TL-21-20.
- Robust shear zone hosted quartz breccia system remains open along strike in all directions.
Barry Greene, VP of Property Development and Director of TRU, commented: “The strength of the alteration, brecciation and mineralization remains intact as the gold system is continuing to the southeast. As is common, structural complexities play a part in the distribution of gold as the gold zone is deeper than expected. We are working to determine if this is an offset or part of a separate zone.”
Table 1. Uncut Assay Highlights
|Hole No.||From (m)||To (m)||Interval (m)||Au (g/t)||Zone|
* Results based on partial recovery from a fault zone.
Figure 1. Plan Map of Twilite Gold Drilling
To view an enhanced version of Figure 1, please visit:
Figure 2. Cross Section of Twilite Gold Drilling
To view an enhanced version of Figure 2, please visit:
Table 2. Collar Details for TL-21-18 to TL-21-21
|Hole No.||Azimuth (°)||Dip (°)||Length (m)||UTM E||UTM N|
* Abandoned prematurely due to bad ground conditions.
TRU Co-Founder and CEO Joel Freudman added: “We are pleased that we continue to encounter gold mineralization in the results from our recently-completed inaugural drill program, and we look forward to the remaining results, which will guide future drilling at Twilite Gold. I am even more excited about our imminent 5,000-metre diamond drill program at our flagship Golden Rose Project – with permitting now in hand, drilling will soon be a reality. Over the past 4 months, our team has worked ardently in preparation. Golden Rose represents a unique opportunity for TRU for numerous reasons, with the key drivers being that it is well-situated both geologically and geographically, sandwiched between two neighbours with significant known gold deposits.”
Golden Rose Drilling Preparations
At Golden Rose, drill permitting is now in place and a drill contract has been awarded to Logan Drilling Limited for a planned 5,000m diamond drilling campaign, scheduled to begin in early to mid-October. The Company is working closely with GoldSpot Discoveries Corp. in laying out and targeting its drill program.
TRU’s main objectives for this drill program are (1) infill drilling at the South Woods Lake Gold Zone, to better delineate the known mineralization there, and (2) exploratory drilling at the recently-optioned King George IV claims in hopes of making a new discovery there, following the Company’s discovery of visible gold grains on such claims this summer, as previously announced on July 14, 2021.
As additional preparatory steps, the Company recently completed a 1,568 line-kilometer airborne magnetic gradiometer survey over select portions of Golden Rose, including the King George IV claims. The Company is also preparing for an IP/Resistivity survey at the King George IV claims.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is sampled, cut by core saw, and split by Company personnel, and put into bags with unique sample tags for identification. 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 1000 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. 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.
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 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 early-stage properties including 2 near 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 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/
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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.
Cautionary Statements Regarding Forward-Looking Information
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 and the drill program at Twilite Gold and Golden Rose. These statements are based on numerous assumptions regarding Twilite Gold and Golden Rose, and the Company’s exploration and drilling 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 Twilite Gold and/or Golden Rose; the exploration potential of Twilite Gold and/or Golden Rose and the nature and style of mineralization at such properties; risks inherent in mineral exploration activities and operational problems relating to drilling; 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.