Today
Tru Precious drills 70 m of 0.37 g/t Au at Golden Rose
2022-03-09 09:12 ET - News Release
Mr. Stephen Lautens reports
TRU PRECIOUS METALS HITS MORE CONTINUOUS GOLD MINERALIZATION AT GOLDEN ROSE PROJECT
Tru Precious Metals Corp. has released new assay results from an additional four of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose project in central Newfoundland.
Highlights:
- 10 metres (m) of 1.14 grams per tonne (g/t) gold starting at 52 metres in drill hole WL-21-04, which forms the base of a longer 56-metre interval grading 0.4 g/t gold starting from the bedrock surface;
- Seven metres of 1.81 g/t gold starting from 77 metres in hole WL-21-10, which forms the base of a longer 70-metre interval starting at 19 m and grading 0.37 g/t gold;
- 1.5 metres of 3.60 g/t gold starting from 27.5 metres in hole WL-21-01, plus an additional 22 metres of 0.55 g/t gold starting at 38 metres, including three metres of 1.96 g/t gold at the base of the intercept.
Tru has now reported on 11 holes in total with assays from 11 holes still pending. Reported drilling results now define a primary gold zone that is 800 m in strike length (from holes WL-21-06 to WL-21-14) and is open both along strike and at depth.
"I am very pleased to report that our drilling has now hit gold mineralization in nine out of nine of the holes reported so far at Woods Lake," commented Stephen Lautens, president of Tru. "Consistency of results is very important in building a successful story of exploration, and these near-surface results are a solid basis for further and expanded exploration. We are also looking forward to exploring a number of other highly prospective targets that have shown even greater gold values at surface."
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7 m, covering both the Woods Lake gold zone prospect 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, vice-president of property development and director, of Tru, added: "The thick, near-surface, gold zone encountered in holes WL-21-01, WL-21-04 and WL-21-10 are indicative of a bulk-tonnage gold target. Gold mineralization in hole WL-21-10 actually straddles the faulted contact between the hangingwall Bay du Nord group metasediments and the underlying monzogranite. We continue to be impressed by the voluminous intersections of altered and mineralized felsic intrusive in this drill program."
The gold intercept in WL-21-14 was testing a gold soil geochemical anomaly that was along strike to the northwest from the main Woods Lake gold zone. This hole intersected quartz veining with arsenopyrite and pyrite in sedimentary rocks, indicating that gold can be encountered not only in the felsic intrusive, but also in the surrounding rocks.
Drilling quality assurance/quality control
All HQ core is geotechnically measured for RQDs (rock quality designations), 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. of 403 Little Bay Rd., Springdale, Nfld., a commercial laboratory that is ISO/IEC 17025 accredited and independent of Tru. Eastern Analytical pulverized 1,000 grams of each sample to 95 per cent less than 89 micrometres. Samples are analyzed using fire assay (30 grams) with atomic absorption finish and an ICP-34, four-acid digestion followed by ICP-OES (inductively coupled plasma optical emission spectrometry) analysis. All samples with visible gold or assaying above one 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. 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.
Qualified person
Barry Greene, PGeo (Newfoundland), 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 Toronto Stock Exchange-listed Altius Minerals to purchase 100 per cent of the Golden Rose project. Golden Rose is a regional-scale 236 square km 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., a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and prepublic microcapitalization companies listing on Canadian stock exchanges.
Acknowledgment
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.