March 3, 2022 (Source) — TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce additional assay results from 5 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
- 12 metres (m) grading 1.01 grams per tonne (g/t) gold from drill hole WL-21-12
- 7m grading 1.71 g/t gold from drill hole WL-21-06, including 2.39 g/t over 4m
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7m, covering both the Woods Lake Gold Zone prospect (“Woods Lake”) and the King George IV Lake area (“KG4”). Golden Rose is a regional-scale 236 square kilometre (km) land package, including 45 km of strike length along the deposit-bearing Cape Ray – Valentine Lake Shear Zone, and is located directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
Barry Greene, VP of Property Development and Director of TRU, commented, “I’m pleased that these results continue to intersect gold and define Woods Lake, expanding the gold zone both up-dip and along strike near surface. A focus of our 2021 drill program was to begin delineating a near-surface gold zone that could potentially be open pittable. This is especially important given the near-term production decision at our neighbour Marathon’s Valentine Gold Project.”
Table 1 – Woods Lake Uncut Assay Highlights
|Hole No.||From (m)||To (m)||Interval (m)||Au (g/t)||Zone|
Figure 1 – Woods Lake Drill Hole Locations
To view an enhanced version of Figure 1, please visit:
Table 2 – Woods Lake and KG4 Collar Details
|Hole No.||Azimuth (°)||Dip (°)||Length (m)||UTM E||UTM N|
The new results at Woods Lake expand upon the gold rich felsic intrusive with mineralization consisting of a network of thin, quartz-pyrite-hematite-arsenopyrite veins, fractures and accompanying wall-rock sericitization and silicification.
Woods Lake is directly road accessible, with infrastructure including a high voltage powerline and paved highway located just a few kilometers to the east. The zone has been drilled and partially delineated over approximately 550m along strike. Historical drill intersections include 1.37 g/t gold over 26.31m (includes 6.18 g/t gold over 5.11m) and 2.15 g/t gold over 12.6m (including 3.65 g/t gold over 6.0m).
The Company has also received results from two exploratory drill holes at KG4 which did not return any significant gold values. These initial holes, which were the first ever drilled at KG4, were on weaker, secondary IP targets, and were not targeting the large horseshoe shaped IP anomaly where a quartz stockwork containing chalcopyrite was noted in drill core.
The Company has an additional 15 drill holes currently in for assay analysis and will report results are they are received and reviewed.
The Company is also reporting the issuance in February of 800,000 TRU shares to Altius Resources Inc. (“Altius”), pursuant to the Option Agreement between TRU and Altius for Golden Rose. The shares were issued at a deemed price of $0.25 each, and the Option Agreement remains in good standing.
Finally, TRU continues to enjoy support from Insiders as CEO Joel Freudman, and President Stephen Lautens purchased shares of TRU in February.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All HQ core is geotechnically measured for RQD’s, 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. 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 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. 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 is drilling for gold 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 236 km2 land package, including 45 kilometres 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’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture 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/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
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 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.
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 and drill program results at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling program 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.