September 22, 2022 (Source) — TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce assay results from a new drill discovery at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”). The 13-hole, 2,147.4 metre (“m”) drilling program focused on the Jacob’s Pond area, principally the Jacob’s Twin showing, one of the five grids property-wide where the Company recently completed an extensive IP Survey.
- Drill intersection of multiple copper-gold-silver zones in altered conglomerate (table 1).
- Last hole to intersect the discovery, JP-22-13, returned high-grade copper and silver.
- Discovery remains open for expansion in multiple directions.
- 2022 soil sampling has defined a secondary promising target between 750m to 1.2 kilometres (“km”) southwest from the new discovery area.
Barry Greene, VP of Property Development and Director of TRU, commented: “It is always rewarding to drill under a newly discovered copper-gold bearing quartz-carbonate vein system and to upgrade it in drill core at depth. Our discovery hole, JP-22-10, and step-out hole, JP-22-13, confirms that we are in the early stage of defining an exciting new prospect with significant expansion potential. Additional step-out drilling will be required to start delineating shape, orientation and ultimately continuity of this new discovery.”
The Jacob’s Twin copper (“Cu”) -gold (“Au”) -silver (“Ag”) discovery contains multiple intervals of quartz-carbonate-sulphide veining (figures 1& 2).
The veining in hole JP-22-10 was discovered while drilling directly under a creek where a series of copper-gold bearing outcrops (see press release dated August 4, 2022) were found during 2022 summer exploration, with samples grading 1.10% to 4.19% Cu and 2.76 grams per tonne (g/t) Au. An upper mineralized zone in hole JP-22-10 from 129m to 142.3m was followed by a lower 22.6m zone from 178.4m to 201m down hole depth, containing quartz-carbonate veining and copper mineralization, the lower 3.0m interval of which assayed 1.03% Cu, 0.71g/t Au, and 24.95g/t Ag from 193.45m to 196.45m. Jacob’s Twin correlates with a high chargeability Alpha IP anomaly near the sheared contact with a flow banded rhyolite.
Follow-up drilling, in final hole JP-22-13, approximately 15m down dip of hole JP-22-10, also intersected a mineralized vein system between 187.5m-199.5m down hole depth (figure 2). The highlight of this zone assayed 1.10% Cu, 0.87 g/t Au, and 46.60 g/t Ag over 2.8m from 197 to 199.8m, including 1.14m at 2.19% Cu, 1.39g/t Au, and 108.3 g/t Ag from 198.66m to 199.8m.
TRU Co-Founder and CEO Joel Freudman added: “Drilling at Golden Rose continues to uncover the immense potential of this property, and we are barely scratching the surface. I am especially pleased with our intersect of high-grade copper, which is a critical mineral input in electric vehicles and a wide range of other ‘clean energy’ and industrial uses. With less than 7,000 metres drilled to date by TRU at Golden Rose, across two modest drill programs, we are already unveiling what we believe to be a polymetallic zone, in addition to the known gold zone elsewhere on the property. I want to acknowledge the efforts of our exploration executives, Barry Greene and Pearce Bradley, in securing the Jacob’s Pond area for TRU last year and advancing it to this new discovery zone. This is another step toward establishing that Golden Rose is geologically prospective and hosts multiple commodities, on a massive property package that has seen little to no exploration.”
Mr. Freudman continued: “Additionally, and of great significance to TRU, we are also excited that our neighbour Marathon Gold has publicly disclosed its intention to commence mine construction at the Valentine Gold Project in early 2023, becoming an operating mine producing gold by early 2025. We expect this will attract renewed interest to the Valentine Lake Shear Zone, as TRU continues to build a turnkey polymetallic project with a robust pipeline of drilling and exploration potential.”
The Company continues to await final assay results for some holes peripheral to the primary mineralized zones, which are not expected to return significant values of mineralization.
A second promising drill target is shaping up along the same structural trend approximately 750m to 1.2km to the southwest of the Jacob’s Twin target area (figure 1). This new target contains many highly anomalous Au and Cu soil anomalies in a tightly clustered grouping and along the same trend of anomalous IP chargeability. This area shows the potential for expansion of the mineralized system along a regional trend.
Figure 1 – Jacob’s Twin drilling with high priority target along trend
To view an enhanced version of Figure 1, please visit:
Figure 2 – Cu-Au-Ag discovery in quartz-carbonate-sulphide veins from DDH JP-22-10
To view an enhanced version of Figure 2, please visit:
Table 1 – Jacobs Twin Cu-Au-Ag-Target – uncut assay highlights
|Hole No.||From (m)||To (m)||Interval (m)||Cu (%)||Au (g/t)||Ag (g/t)||Zone|
Figure 3 – IP chargeability zone with mineralized zones indicated
To view an enhanced version of Figure 3, please visit:
Table 2 – Jacobs Twin Collar Details
|Hole No.||Azimuth (°)||Dip (°)||Length (m)||UTM E||UTM N|
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is geotechnically measured, 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. CRM standards and blanks are inserted at regular intervals in the sample stream. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. Core samples are analyzed at either SGS in Burnaby B.C., or Eastern Analytical Ltd. (“Eastern Analytical”) of Springdale, NL.
Eastern Analytical is 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.
SGS is a commercial laboratory that is independent of TRU. Rock and core samples are shipped to the SGS Grand Falls-Windsor Mobile Sample Prep facility where they are sorted, logged, weighed, dried at 105 C, crushed to 75% passing 2 mm, split to 250 g, and pulverized for 85% passing 75 microns. Pulps are shipped within the SGS lab network to SGS Burnaby, where they are typically tested by 30 g fire assay with AAS for gold, and aqua regia digest with ICP-AES for the 34 element package. Over limit analysis for Au is done with fire assay and gravimetric finish, and multi-elements by ore grade sodium peroxide fusion with ICP-AES.
Soil samples are sorted, logged, weighed, dried at 60 C and screened to 180 microns. Undersized material is shipped to SGS Burnaby, where samples are typically tested by 30 g fire assay with ICP-AES for gold and aqua regia digest with ICP-AES for the 34 element package.
SGS laboratories operate a Laboratory Information Management System (SLIM). The SLIM system includes method set up protocols (analytes, ranges, internal QC materials that include blanks, duplicates, replicates, and reference materials) as well as their frequency of insertion and tolerance requirements. Quality control is performed at the sample preparation stage to include % passing requirements at the crush and the pulverizing stages at set frequencies and QC samples are added to every batch of samples throughout the entire process at a frequency of ~10-15% and include preparation blanks, preparation duplicates, pulp replicates, method blanks and certified reference materials. SLIM is also used to monitor our internal processes for instruments, equipment, sample tracking, storage and reporting formats. SLIM uses a secure and complete audit trail to ensure traceability and confidentiality.
SGS Burnaby facility is accredited to the requirements of ISO/IEC 17025 for various tests listed on their scope of accreditation at https://www.scc.ca/en/search/laboratories/sgs
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.
National Instrument 43-101 Disclaimers
Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Golden Rose to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
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 (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently, TRU is exploring for gold and copper 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 233 km2 land package, including a newly discovered 20 km district-scale structure, and an additional 45 km 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 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:
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 its past financial support through the Junior Exploration Assistance Program.
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 at Golden Rose, and to Marathon Gold’s development plans for the Valentine Gold Project. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling and exploration programs 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.