10:55 am Pacific
Trueclaim Exploration (TRM, TSX-V) has delivered an impressive near-surface result of 15.78 metres grading 5.36 g/t Au in hole #10 from the South Zone at its Scadding Gold Property near Sudbury. The stock has been displaying good technical strength over the past two weeks and is currently up 2 pennies at 21 cents on strong volume of 1.1 million shares, overcoming some resistance which opens up the possibility of a breakout.
Several other holes intersected significant mineralization including 19 metres grading 2.46 g/t Au in hole #3. All 10 holes drilled in the South Zone intersected chlorite zones which may suggest continuity between the South Zone and the Central Zone.
This is an interesting property that is worthy of considerable additional drilling. The current phase of drilling will consist of 8,000 metres, so many more results will be flowing in over the coming months.