November 24, 2021 (Source) — TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to report recently-received soil sampling results from its flagship Golden Rose Project (“Golden Rose”) in Newfoundland, Canada.
Golden Rose is a regional-scale land package covering approximately 236 square kilometres (km2) in the Central Newfoundland Gold Belt, including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake Shear Zone between Marathon Gold Corp.’s Valentine Gold Project to the northeast and Matador Mining Ltd.’s (“Matador”) Cape Ray Gold Project to the southwest.
- Confirmation of a district-scale gold anomalous trend over approximately 20 kilometres associated with a district-scale shear zone, which extends onto King George IV area of Golden Rose where TRU is currently drilling
- Delineation of several discrete clusters of highly anomalous gold values
- Multiple trenching targets have been identified and gold anomalies are open for expansion
- Polymetallic signatures in gold/copper indicated in both rocks and soils along this structure
Barry Greene, VP of Property Development and a Director of TRU, commented: “As soon as we plotted the data and looked at it in the context of the regional magnetic geophysical signatures, I couldn’t help but think back to the early days at the Valentine Lake project. The scale and scope of this newly identified soil anomalous trend on Golden Rose reminded me of the regional scale soil anomalous trend I saw when I first started working on the Valentine Lake project in 1988, in the early discovery days. As we were trenching at Valentine Lake and uncovering gold mineralized veins, we were following the soil anomalies along the Valentine Lake regional structural break. It’s like looking at the Valentine Lake soils data from 33 years ago.”
TRU has received almost all of the soils and rock analytical data collected during the 2021 field season, which has confirmed a new district-scale anomalous gold trend at Golden Rose over approximately 20 km of strike length. This data further solidifies the Company’s belief in the exploration potential of the shear zone/thrust fault contact between the Windsor Point Group and the King George IV ophiolite and the Rainy Lake complex gabbro along the northwest side of Golden Rose. TRU also believes that the data confirms it has opened a new, previously unrecognized area for exploration.
As the shear zone wraps around the ophiolites (Figure 1), the ophiolites appear to be structurally dissected, creating a distinct series of likely brittle second and third order structures. The structural architecture can be imaged in the aerial magnetic data (Figure 2). This will be a priority for expansion of future soil sampling to fully delineate the anomalous trend.
At the north end of this newly identified regional trend, rock sampling from bedrock and from local float confirms a gold-copper signature at the Jacob’s Pond gold prospect. Following along the Jacob’s Pond trend to the southwest, in association with this anomalous soils data, TRU’s field crews have collected several heavily copper mineralized samples including one sample which assayed 14.3 grams per tonne (g/t) gold, 11.0% copper, 368 g/t silver and 0.12% antimony (Figure 3).
Figure 1 – Regional 2021 gold in soils on geology
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Figure 2 – Regional 2021 gold in soils on gradient magnetics
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Figure 3 – Regional 2021 gold in soils near Jacob’s Pond Gold Prospect
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Joel Freudman, Co-Founder and CEO of TRU, added: “I am very pleased that our Exploration team has identified a significant and highly-prospective new district-scale structure at Golden Rose . As this is in addition to the 45 km section of the Valentine Lake Shear Zone transecting Golden Rose, we now have much more high-priority real estate for exploration along this structural corridor, which we think may correlate with the Cape Ray Shear Zone running up from Matador’s Cape Ray deposits. As an added bonus, early indications in our soil and rock samples suggest this structure could have polymetallic potential. We remain hard at work in our efforts to unlock value for our shareholders from our flagship Golden Rose Project.”
The Company is considering an expansion of its regional exploration program in early 2022 along this newly-recognized regional structure, which may include an IP survey over the winter ice, in order to lay the groundwork for a spring 2022 trenching and/or drilling program on newly-advanced targets.
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.
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 is drilling for gold in the highly prospective Central Newfoundland Gold Belt and 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 earlier-stage properties in the region. 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 relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; 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.