TRU Provides Exploration Update Including Additional Gold Targets at Golden Rose Project
October 25, 2022 (Source) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (“TRU” or the “Company”) is pleased to provide an update on additional field work being completed across several key prospective areas at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
The Company is currently focused on completing trenching, soil, till, and rock sampling on the Golden Rose Project prior to the commencement of the winter season. Priority has been given to exploring highly prospective target areas based on both historical and recent exploration results and known geophysical anomalies. These areas include the Woods Lake gold zone (“Woods Lake”), Jacob’s Twin gold-copper-silver discovery area and the recently optioned Staghorn property (Figure 1).
TRU Co-Founder and CEO Joel Freudman commented: “We are pleased to be closing out the 2022 field season with additional work at Golden Rose. We have embarked on several cost-effective exploration initiatives, that allow us to protect TRU’s treasury and capitalization structure while advancing multiple targets across the project towards the drill-ready stage for a third round of drilling in 2023. We are fortunate to be adequately funded to complete this work, especially considering prevailing depressed market conditions.”
- At the Jacob’s Twin target area, a comprehensive soil sampling program was conducted in early 2022. Soil samples were collected at a 25 metre (m) spacing along 100 m spaced lines. A coincident copper-gold soil anomaly was identified 750 m to 1.2 kilometres southwest of the recently announced Jacob’s Twin gold-copper-silver discovery (please refer to TRU news release dated September 22, 2022). Based on these findings, the Company decided to conduct an additional 50 m spaced infill soil sampling program to further delineate the newly identified copper-gold soil anomaly.
Woods Lake and surrounding area
- A total of 323 soil samples and 31 till samples were recently collected.
Mark’s Pond and Rich House
- Trenching and prospecting work has commenced on these claims, with an immediate focus on the Mark’s Pond gold zone (“Mark’s Pond”) and Rich House gold prospect (“Rich House”) (Figure 1).
- An historical trench at Mark’s Pond from 2020 is being re-opened and extended to complete channel, soil and till sampling.
- Prospecting and rock sampling were recently completed at Rich House, where historical grab samples returned up to 189.2 grams per ton (g/)t gold at the main mineral occurrence, and visible gold has been previously reported.
The assay results from all the exploration programs described above are still pending from various independent laboratories and will be released by the Company in due course.
Please 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.
Any descriptions of mineralization, soil/till 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 metal assay values if and when drilled by the Company in the future.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
About TRU Precious Metals Corp.
TRU (TSXV: TRU) (OTCQB: TRUIF) 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 269 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)
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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 the adequacy of the Company’s working capital. 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.